Tips for Pricing Your Paintings as an Emerging Artist

By -Mini Smith
Posted on January 6, 2025
Posted in Art Exibitions

As an emerging artist, one of the most challenging and crucial aspects of selling your artwork is determining how to price it. Pricing your paintings can be a delicate balance—set your price too high, and you may turn off potential buyers; set it too low, and you might not reflect the value of your work. Getting the pricing right is key to building your career and establishing credibility as an artist.

Here are some essential tips to help you confidently price your paintings as an emerging artist.

1. Consider Your Costs

Before determining the market value of your paintings, it’s essential to understand the costs involved in creating them. Calculate the expenses you incur in the process, including:

Materials: Paints, canvases, brushes, framing, and other supplies.
Studio Space: If you’re renting space or have overhead costs for creating your work, factor these into your pricing.
Time: Consider how long it takes you to create a painting, including the preparation, painting, and drying time. Although it’s difficult to assign a specific hourly wage to your time as a creative, estimating your working hours is a good starting point.

Once you understand your costs, you’ll be able to set a baseline price for your work that ensures you’re covering your expenses and making a profit.

Tip: If you’re unsure about the cost of materials, keep receipts or make a list of regular purchases to track and calculate them effectively.

2. Research Market Value and Competition

Understanding the market and your competitors is crucial when pricing your work. Conducting research will help you find a price point that’s both fair and realistic for your experience and the current art market.

Look at Similar Artists: Research other emerging artists in your local area or online who are at a similar level in their careers. Pay attention to their pricing for similar-sized works, medium, and style.
Consider Your Medium: The medium you use (oil, acrylic, watercolor, etc.) can impact the price of your paintings. For example, oil paintings are often priced higher than watercolors because of the time and complexity involved.
Check Online Marketplaces: Websites like Etsy, Saatchi Art, or Artfinder allow you to compare prices and see how other artists price their work online.

This market research will help you understand the range of prices in your genre, which will allow you to price your artwork competitively.

Tip: Make sure to check both online and offline markets to get a broader understanding of art prices in your area and beyond.

3. Start with a Price Range, Not a Fixed Price

As an emerging artist, it’s a good idea to start with a flexible price range rather than a fixed price. Your price will evolve over time as you gain more experience and recognition.

Initial Pricing: Consider starting with modest pricing that reflects your current standing in the art world. Your first paintings may be priced lower than they would be in a few years, but this can attract initial buyers.
Create a Range: Offer a price range based on factors like size, medium, and complexity. For instance, small abstract paintings may start at a lower price, while large, detailed landscapes may be priced higher.

By starting with a range, you can experiment with different pricing strategies and adjust accordingly.

Tip: Keep in mind that pricing isn’t static. You can gradually raise your prices as you build a following and gain more experience.

4. Factor in Your Reputation and Experience

As an emerging artist, your reputation and experience will play a role in the price you set for your work. Early in your career, you might not have the same recognition as more established artists, but you still deserve fair compensation for your time and effort.

Experience: If you’re just starting out, your prices may be on the lower end. However, as you gain more exhibitions, accolades, or press coverage, you can gradually increase your prices to reflect your growing experience.
Exhibitions and Sales: The more you exhibit your work and make sales, the higher you can price your paintings. Keep track of your successes, as these achievements will help you justify higher prices to buyers.

Tips for Pricing Your Paintings as an Emerging Artist

While you may not have a long history in the art world, you can still command a fair price for your artwork based on your unique style and the quality of your paintings.

Tip: Even as an emerging artist, don’t undervalue your work. Trust in your artistic abilities and recognize that every artist starts somewhere.

5. Take into Account the Size of the Artwork

The size of your painting plays a significant role in determining its price. Larger paintings often require more materials, time, and effort to complete, which justifies a higher price. However, the market demand for large vs. small works can vary depending on the buyer.

Small Paintings: Small works are more affordable for entry-level buyers, collectors with limited space, or those looking for quick decorative pieces. These can range from $100 to $500 depending on factors like complexity and medium.
Medium-Sized Paintings: Mid-sized works can range from $500 to $2,000, and they are often the most popular choice for collectors.
Large Paintings: Larger paintings typically cost more, starting from $2,000 and increasing based on the artist’s reputation and the work’s complexity.

Tip: Consider how the size of the artwork fits into the broader context of your pricing strategy. Large works should be priced significantly higher than smaller ones.

6. Price for Your Market and Audience

Understand who your target buyers are and tailor your prices to fit their purchasing power. If your audience is made up of new collectors or individuals purchasing art as a form of home decor, you may want to price your paintings more affordably.

Beginner Collectors: If you’re targeting new art collectors, setting a lower price point can make your work more accessible to a wider audience.
Higher-End Buyers: If you’re hoping to attract established collectors or galleries, you may need to price your works higher, taking into account your reputation, the exclusivity of your art, and the potential for long-term value.

Tip: Think about the long-term value of your work. Price accordingly so that you can maintain a sustainable and fair relationship with your buyers.

7. Offer Limited Editions or Special Pricing

If you want to create exclusivity and increase the perceived value of your work, consider offering limited editions or special pricing for select pieces.

Limited Edition Prints: Selling prints of your paintings in limited editions is a great way to provide a lower-priced option for buyers, while still retaining the value of your original artwork.
Special Offers for Early Buyers: You can offer discounts or special pricing for early buyers or collectors who are purchasing your work for the first time. This can also help you build a loyal following.

Tip: Limited editions create a sense of scarcity, which can increase demand and elevate the price of your original work over time.

8. Don’t Forget to Include Your Artist Fees

Once you’ve set your base price for a painting, make sure to factor in any fees associated with selling your work. If you’re exhibiting your artwork in galleries or selling through online platforms, there might be commissions or listing fees to account for. These fees should be added to the final price of the artwork.

Conclusion

Pricing your paintings as an emerging artist can be intimidating, but it’s also a crucial part of establishing your career and value in the art world. By considering your costs, doing market research, and factoring in your experience, you can find a fair and strategic price that reflects your work’s true value. Remember, as you grow and gain recognition, your prices will evolve. Stay confident, stay informed, and trust in the value of your art.