Let’s face it: if you’re an artist, you probably want to get paid for all your hard work. And we certainly don’t blame you! Getting paid to do what you love is one of the greatest things anyone can experience. And if you love art, well, there are more ways than ever to profit off your craft. With the rise of user-based platforms like Etsy, Shopify, and Woocommerce, selling your art and making a name for yourself is easier than ever!
Knowing how and what to charge for your time, materials, and creativity can be a tricky task, but we’re sharing a few tips for artists on pricing your art so that you can transform your hobby into a business!
1. Make an Hourly Wage For Yourself
If you’re an artist/entrepreneur, you probably don’t have an assigned hourly wage; what you make is, well, what you get. It’s important, though, that you know what your labor is worth. Once you determine that, build that into the price that you charge your customer. Your time is important! Use your experience to figure out how long a project would take, and consider that when designating your price.
That said, there are other things you should take into account, too…
2. Take Into Account The Cost of Materials (Plus Other Expenses Like Taxes)
Making art out of thin air isn’t possible… yet, at least. So until then, you probably need to buy materials to make your art. Whether it’s paint, pencils, paper, a canvas — or even some crayons. That can all add up, and if you’re making art for someone else, build that cost into your price! You want to at least break even on your art supplies if you’re doing work for someone else. It is always better to completely cover your costs — and then some — to maximize your profits.
You’ll also want to consider other expenses as your business grows — things like taxes, business licenses, any fees for programs/web hosting/services you use, insurance, etc. These things will likely increase the more your art sells, so you definitely want to keep an eye on it regularly to make sure your pricing reflects any major “cost of doing business” increases.
3. Research What Artists Making Similar Work are Pricing
People like to say art should be for art’s sake, and it shouldn’t become a business. And while that’s well and good if you’re doing it as a hobby, for some people, this is their job! Either that, or they would just like a little extra pocket money every month. Whatever your reason, you want to make sure your art sells.
And the best way to do that is to price competitively. If you’re pricing very high, while other artists making a similar product are offering much lower costs for their work, you might want to adjust your asking amount accordingly. While you don’t want to undersell yourself, and always remain confident in your art and what it is worth, you also want to be competitive!
4. Don’t Undersell Yourself
With that being said, be confident! If you want to make money off your art, you should know that you have what it takes to make people want to spend money on your work!
This also means that you shouldn’t undersell yourself or undervalue your work. You deserve to make the money you deserve from your art. This means you should always charge an appropriate price — whatever you and your research deem that is.
5. Most Importantly, Have Fun!
This is less a rule and more just a good way to approach your art. Enjoy yourself! As we mentioned, there is nothing better than making money off doing something that you enjoy doing. But if you don’t enjoy it, then it becomes just another task that you need to do in order to make money. Don’t let it become that!
While it may take some work to get your sales off the ground, never forget why you started doing it in the first place; it’s just fun to make art!
The Art of Pricing
Making art is great! Making money off your art?! Even better! Of course, you should run your business how you choose; we just want to try and give you some helpful pointers along the way. Feel free to take or disregard these as you see fit. Just remember the following points from this post:
- Give yourself an hourly wage
- Take the cost of your materials (and all business expenses) into account
- Research what other artists are doing
- Never undersell yourself
- Have fun!
Of course, if you need frames to sell your art in, you can always look on our site for some great ideas! We also offer a white labeling service for your business. That way you aren’t selling half of a project by offering an unframed print or piece of art. Make your work truly stand out by offering it with the display it deserves!
This post first appeared as 5 Tips For Artists: How To Price Your Art on Frame It Easy - Learning Center for Custom Picture Framing.