Advice on pricing

Dear Artist.

Below is for information only, the one who decide is you.

1. Build a demand for your Art. To do this your Art needs to be seen. In the beginning of your career you want your Art to be in Exhibitions, in Art Galleries, even in Shops and Restaurants. Later in your career you may want your Art to be in prestigous places like in Museums, Congress, the Central Bank, and the Presidential Palace.

2. You are yourself a brand. Make sure to cover all the basics: the painting should be signed. On the backside make sure you sign again, write the date, the title of the painting, and the sequence number. The sequence number helps to prevent fraud and is a statement that the painting is unique. Write a small narrative of how you see the painting, where your inspiration came from. Having a narrative generally increases the value of the Art.

3. Be consistent in your pricing. If you start selling at USD 1 per square inch, keep the price. Never sell at a discount, unless it is only a minor commercial discount of 5% or 10% to conclude the sale.  Charge a fixed price multiplied by the size, do not charge more for paintings that you are emotionally attached to, or particularly happy with.

4. Every year, increase the price. Do this to reflect that you have now sold more paintings, so the demand for your Art has increased. If you were at USD 2 per square inch (USD 2 per 6.45 square cm), increase it to 2,1 or 2,2. Art collectors usually likes this, because it means that the painting they bought from you last year is now worth more.

Formats inch cm square inch square centimeter
Small Painting 4*6 26*39 24 155
5*7 32*45 35 226
Medium 8*10 52*65 80 516
9*12 58*77 108 697
11*14 71*90 154 994
12*16 77*103 192 1239
Large Painting 18*24 116*155 432 2787
20*24 129*155 480 3097
24*36 155*232 864 5574
30*40 194*258 1200 7742
36*48 232*310 1728 11148

————————————————————————————————————————-

paintings sold years full-time artist USD/square inch USD/square cm
The Emerging Artist 50 5 1,00 0,16
The Mid-Career Artist 100 10 3,00 0,47
The Established Artist 200 15 5,00 0,78
The Famous Artist 300 20 15,00 2,33

————————————————————————————————————————-

USD by size  The Emerging Artist  The Mid-Career Artist  The Established Artist  The Famous Artist
4*6                             24                             72                           120                           360
5*7                            35                           105                           175                           525
8*10                             80                           240                           400                        1 200
9*12                           108                           324                           540                        1 620
11*14                           154                           462                           770                        2 310
12*16                           192                           576                           960                        2 880
18*24                           432                        1 296                        2 160                        6 480
20*24                           480                        1 440                        2 400                        7 200
24*36                           864                        2 592                        4 320                      12 960
30*40                        1 200                       3 600                        6 000                      18 000
36*48                        1 728                        5 184                        8 640                      25 920

————————————————————————————————————————-

kind regards

www.NigerianArt.net