Tips for Pricing Your Artworks

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At Viarupa Gallery, you can offer your works for sale at the price you set. If you have just started selling your works and/or are having difficulty in pricing, you can find some basic pricing principles and methods below.

 

Pricing your artwork appropriately is, of course, crucial to selling it. Therefore, a great way to think about pricing would be to apply consistent, fact-based pricing principles and methods.

 

Step 1 - Price your work like a retailer, at twice the cost of the materials.

A common practice for new artists is to set prices based on time, labor and cost of materials. Set yourself a reasonable hourly rate, multiply it by the number of hours it took you to make your creation and add that figure to twice the cost of the materials. For example, if the materials cost 100 units, your hourly rate is 40 units and you spent 30 hours creating your creation, the price of your artwork will be (100 x 2) + (40 x 30) = 1.400 units.

 

Step 2 - Be consistent in pricing across channels

If you sell a work on more than one channel; galleries, other online platforms, personal artist website or social media account; Make sure your price is consistent everywhere. Similarly, be consistent in pricing work in your portfolio; For example, larger jobs should be priced higher than smaller jobs. Make sure you create a consistent model for your pricing.

 

Step 3 - You can expand your buyer network by offering works in various price ranges.

If someone likes your work but cannot afford a ₺4,000 painting, they will find a ₺2,000 painting more attainable. You can always increase your prices once you have made some sales and have real evidence to justify the price increase. It will be helpful to keep records of the prices at which you sold all of your works. Remember that it is much better to price and sell your work competitively to gain visibility (you may increase your prices in the future) than to let your work sit unsold.

 

Step 4 - Review Packaging Instructions

If the work is sold, the cost of packing the work for shipping belongs to the artist. The cost of packaging materials and shipping service should also be included in the price of the artwork. Please be sure to read the Packaging Guide to review the necessary packaging materials in case the artwork is sold.

 

Step 5 - Price your work relative to its peers

Another way to study pricing is to set the value similarly to the prices of other artists with similar experience and working with similar materials.When comparing your work with others, you'll find things like dimensions, medium, materials and artists' awards, exhibitions, press coverage, etc. Consider the factors of their success; These will affect pricing, if available, add these items when Listing Artworks.For comparison purposes, it’s important to consider artworks that have always sold, not works that have not yet sold.

 

Step 6 - Consider All Stages

Shipping costs at Viarupa Gallery belong to the artist. However, potential buyers see a single fee for the artwork including Viarupa's services which is 20% + VAT of the work’s price. We recommend that you consider all of these when defining the price for your work.

 

If you need further support, you can get support from Viarupa Team by emailing support@viarupa.com.