Art Prices - Price Your Art Realistically - from artbusiness.com
In order to price your art realistically, you must understand and respect how the art business works and how collectors shop and buy. You must step back and objectively evaluate the significance and quality of your art in relation to all other art. You must also objectively assess your art world accomplishments and determine how they position you in relation to all other artists. These are difficult tasks and not necessarily pleasant, but they're absolutely essential to achieving the goals of making a go of it as an artist and of selling art.
Understanding common mistakes that artists make when setting prices is the first step in this process. Perhaps the most significant error is the tendency to focus too much attention on only that segment of the art world that pertains to you and too little attention on the rest, or even worse, dismissing the rest as irrelevant. If you let this happen, your asking prices may make sense to you and to your inner circle, but make little sense to the overall art community. The more aware you are of the big picture, of what other artists are creating, how it's being priced and marketed, and who's buying what for how much and why, the better prepared you are to price your art sensibly.
This excerpt from the article Price Your Work Realistically is taken (with permission) from the webiste: www.artbusiness.com
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