Miranda Dyson, Children’s Education Associate
When I was selling at art fairs, potential buyers would inspect a work I had made and search for the price tag. No matter the price, the main comment I received was, “That’s all?! You need to charge more!” When I was commissioned to make something for family or friends, it was assumed that my pricing couldn’t be trusted, and I received many monetary tips.
In conversations with artists who sell in galleries or fairs, the discussion quickly jumps to comparing notes on pricing methods. Regardless of the artist’s chosen medium or years of experience, I hear similar questions to my own: How can I price my work competitively and make it worth my time? If I charge per hour, what happens when I become more efficient? If I charge by material cost, how will I be paid well for work made with reused items? Should I just price something based on how much I love it?
I’ve heard such a desire for clarity on this puzzling topic, so I’ve called in reinforcements.
FWMoA staff members have joined the conversation on pricing art, from their own perspectives. As curators, collectors, and artists, they each bring a unique viewpoint when answering the question: How would you recommend an artist approach pricing their work, based on your experience?
Charles Shepard, President & CEO
Questions about the pricing of art come up frequently and, whether the person asking is an artist or a collector, I’m quick to remind them that my perspective on art pricing is not as dependable as an art appraiser. That said, my perspective is pretty solidly based on years of experience as a Museum Director who regularly buys art for the Collection within a budget and with an obligation to exercise caution with regard to any purchase I decide to make. My decisions begin with a clear understanding that the art market is just that — a market and, like any market, is subject to the whims and desires of those in the marketplace. So, if the object that is available on the market is, for example, by Chihuly or Warhol, there will assuredly be a sea of buyers willing to compete with each other to “win” the prized piece. Because the market for artists like this for whom the marketplace is rabid, my appetite is immediately diminished. In comparison, if a work by an artist like Mabel Dwight (or any of the other WPA women artists) appears in the marketplace, I am immediately interested because I know works by these artists are of high quality and yet not especially exciting to contemporary collectors or other museums. I further know that work by these women artists will always be respected in the history of American Art, even if they aren’t prominent in the marketplace. Anyone interested in collecting art would do well to remember the market price is no sure indicator of artistic significance.
How does this impact artists working today? How should they price their work and what can they do to get the best price for the artworks that they create?
- I always advise contemporary artists to take a hard look at other artists producing work that is similar in focus (landscapes, portraits, still life, etc.) and style to see what the price range for that type of work is in the marketplace. Factor in the resume of the fellow artists you are looking at because that will have a direct impact on the prices they are successfully selling for today. An artist who has worked for years will most often have built up a loyal audience who will compete (i.e. pay more) to acquire their work. Every artist, like every collector, needs to understand that the dynamics that affect the art marketplace are much like any marketplace except that there is no firm value to any of the objects for sale outside of buyer interest.
Sharm Gunawardena, Paradigm Shop Associate, Photographer
- When I price my work, the first thing I do is write down all my costs. For example my print cost, my frame cost, the mat, etc.
- I always add something for my time. I put a flat $100 for that. Just for me, which includes my creativity, editing time, all that.
- And then if, for example, a museum is charging me a commission, then I add that commission, because that’s going to be taken out of my price. So I will add whatever percentage is being taken away, and then that will be my total cost. If you don’t add that cost, then you’re losing 25, 40, or 50%.
- I’ve priced my larger work at $350. That’s for a metallic print, which is expensive, and the metallic frame, and then I’ve added my creativity cost, and the commission I’m going to give the museum. So I know I’m getting roughly half of this, and I’m still okay with that.
- I wanted to do something fun, so I gave my smaller works in the FWMoA Paradigm Shop a more affordable price, around $30. I won’t add the $100 flat rate to this, obviously. Because they’re small, I can afford to sell them for only $30, and even after the commission, I’m still making a small profit. Sometimes you have to think of not making a huge profit on small items, but getting your work across. But on the big items you make your cut.
Amanda Shepard, Vice President & COO
The question of value is one that I ponder often. Nearing the age of 40, I remember that a gallon of gas cost me just under $1 when I first started driving. Now, I marvel at what a weekend trip to Indianapolis costs (especially in high convention season). The weekend costs me what others are willing to pay to stay downtown, and hotels take advantage of this demand by increasing prices as high as the market will support.
I see the same economic principles in the art world. The value of art in the marketplace is what someone will pay for it in any given situation. For example, a work of art could be sold for one price on the secondary market (online auctions) and at quite another on the primary market (the artist’s gallery.) So, if a work of art sells for $500 at auction that originally was sold by the dealer at $3,000, what is the true value of the art? Though time and materials should be considered when pricing artwork, I believe that the price of art is more contingent upon market-related factors.
- In pricing their art for sale, artists should first make an honest appraisal of the quality of and demand for their work compared to artists who make similar work. A watercolor artist might look at other watercolorists whose work is in demand and study their prices. To establish a customer base, the aspiring watercolorist could price their work more affordably until demand for their own work increases. In the meantime, look at the successful watercolorist’s techniques and learn what allows them to command higher prices.
- The second thing artists should do to appropriately price their work is to come to understand the various parts of the art marketplace: art fairs, galleries, auctions, commissions, and direct-to-collector situations like online shops, and learn the economics of those venues. For example, art for sale at a fair could be priced lower than at a gallery, because the gallery might take as much as 50% of each sale to cover their overhead, and at a fair, only a flat booth fee might be charged by the fair’s organizers.
Kaitlin Binkley, Director of Visual Communications
As a digital artist and marketing specialist, I encounter a few different factors than medium based artists. I don’t often have any material costs for an individual piece but my equipment, computer, and creative programs are things that I have to bear in mind. I don’t charge for the price of the program itself to one commissioner, but I do keep the monthly or annual cost in mind and spread that out.
- An annual subscription to Adobe Creative Cloud for individuals, for example, is currently $42 a month (2025). If I estimate four commissions a month, I will spread that cost out to a $10.50 line item on the estimate or invoice. If I am someone who expects 10 commissions in a month, my line item can be $4 or $5. Having this on every commission means that I can maintain my programs and still keep the most profit for the work I create.
- I use the same method for justifying my computer, which needs updating every few years as the technology changes and the software slows down. Again, spreading a cost of maybe $2,000 out over 5 years of commissions means the line item charge is small to the consumer, but very important to me as a working artist.
Time is very important to me. The time I spend on a commission, with friends and family, learning and growing my skills to better meet any customer’s needs or my own interests – it’s not kosher to think about time in dollars and cents but if you are an artist working for yourself, you have to. As I have learned more and become practiced with my skills, my time spent creating has gone down. - I can create a visually pleasing brochure or invitation, a pamphlet or e-blast, all sorts of information sharing material, in a short amount of time! However, that wasn’t always the case, and my years building my skills should be recognized. I do this through my hourly rate, charging $80+ depending on the job or scope of work. I have 13 years of experience behind me to justify that cost. If you are just starting out you may charge less, but don’t undersell your skills. If someone is asking you to create something for them, it’s because they can’t or won’t, and your time is just as valuable as theirs.
We all need to keep in mind that as artists, we love to create and share our creativity with the world, but the world is also expensive. If we as consumers don’t support creative types, they can’t support themselves. Support small, support local, and keep creating!