Pricing Fine Art

[PixelRabbit]

Getting into the final stages of getting ready for this showing one of the last things I need to do is submit a price list for the prints. I've googled and googled and googled some more and I still have no clue what to price the pieces at. I don't really have a codb but I do have the price to get them printed/mounted/stretched/framed etc...
I don't want to under price but also don't want to over price (although I'd prefer to over price than under, easier to come down a bit than it is to go up I think).

Does anyone have any guidelines they use or know of for fine art specifically? Ideas? thoughts? HELP??

I'll say the absolute hardest things I've done to get ready for this showing have been culling the images, writing the bio (only half done, ugh!) and pricing, all have been brutal!

The prints I have to price are:

Canvases
11x14 stretched

Framed Print
11x14 on Hahnemuhle Pearl Rag
Matted and Framed

Metal Prints

12X12 with float mount
10x10 with float mount
8x12 with float mount

 

[AlanKlein]

What is the venue? Are you known? What are others pricing? What have you sold before and at what prices? Is a dealer involved? (If so, ask them?) Good luck. Hope you have a lot of success-I think it's wonderful that you are showing.

 

[timor]

You have to consider cost of producing the piece plus commision of the gallery to.

 

[ronlane]

$14,000 each. Well, okay, maybe not, but you're worth it aren't you??

 

[tirediron]

As an example, my price for an 11x14 gallery wrap (3/4") is $180, so if the gallery is asking for a 30% commmission, I would ask a minimum of $250.

 

[ronlane]

As an example, my price for an 11x14 gallery wrap (3/4") is $180, so if the gallery is asking for a 30% commmission, I would ask a minimum of $250.

Yeah, but PR's are Fine Art, so that adds at least a couple of grand.:mrgreen:

 

[PixelRabbit]

What is the venue? Are you known? What are others pricing? What have you sold before and at what prices? Is a dealer involved? (If so, ask them?) Good luck. Hope you have a lot of success-I think it's wonderful that you are showing.

Hi Alan, thanks for your reply! The venue is a well established store that does all things photography fotoart.ca, I'm not known locally, this is my first showing, pricing has ranged wildly for other showings and I'm the only one showing for the two months, I haven't sold anything before, no dealer involved just the girl who runs the gallery (hallway entrance to the store).

You have to consider cost of producing the piece plus commision of the gallery to.

Thanks T Yep I have my base prices for producing the prints, commission to the store is 20%

$14,000 each. Well, okay, maybe not, but you're worth it aren't you??

Ha! I love you man!!

As an example, my price for an 11x14 gallery wrap (3/4") is $180, so if the gallery is asking for a 30% commmission, I would ask a minimum of $250.

Thanks John!

 

[tirediron]

As an example, my price for an 11x14 gallery wrap (3/4") is $180, so if the gallery is asking for a 30% commmission, I would ask a minimum of $250.

Yeah, but PR's are Fine Art, so that adds at least a couple of grand.:mrgreen:

It really depends; in downtown Toronto, absolutely, but where she is, just outside of Upper Gumboot Junction, there's always the issue of pricing yourself out of the market.

 

[pgriz]

Two approaches - bottom up or top down.

Bottom up:

Your cost of producing the print,
Your time to produce the original image, (@ $120/hr)
Your time to process the image (@ $120/hr)
Plus overhead costs (gas, equipment depreciation, etc.)
Plus any gallery commissions,
Plus any "profit".

Top down:
Market price of comparable artists, plus adjustment (either up or down) for uniqueness, etc.

Don't forget that "price" is part of the attraction, to those with money. Bragging rights come at a price, literally. And it works out that the more they pay for it, the more they will brag how much they paid. So in your case, I'd start at $600 and go up. If someone asks how can you justify... the answer is "because that's what it is worth". And don't forget to add a little sneer and a slightly pitying look for anyone to ask such a silly question. (Hint - you may have to practice that a little to do it convincingly ).

 

[ronlane]

As an example, my price for an 11x14 gallery wrap (3/4") is $180, so if the gallery is asking for a 30% commmission, I would ask a minimum of $250.

Yeah, but PR's are Fine Art, so that adds at least a couple of grand.:mrgreen:

It really depends; in downtown Toronto, absolutely, but where she is, just outside of Upper Gumboot Junction, there's always the issue of pricing yourself out of the market.

I know John, I was continuing my "gross mark-up" since you gave her the realistic pricing. I just wouldn't want her to under price herself.

 

[tirediron]

Yeah, but PR's are Fine Art, so that adds at least a couple of grand.:mrgreen:

It really depends; in downtown Toronto, absolutely, but where she is, just outside of Upper Gumboot Junction, there's always the issue of pricing yourself out of the market.

I know John, I was continuing my "gross mark-up" since you gave her the realistic pricing. I just wouldn't want her to under price herself.

Yeah, I know.

 

[PixelRabbit]

It really depends; in downtown Toronto, absolutely, but where she is, just outside of Upper Gumboot Junction, there's always the issue of pricing yourself out of the market.

Actually... The average income in this area is 100k a year, it is also cottage country for To and surrounding areas and not little shacks, high end waterfront properties. It is also known for high end retirement properties. There is no lack of disposable income especially from May to the end of autumn! (Yes I did my homework lol )

Now Paul, I'm going to ponder your post and get back to you when I pick myself up off of the floor.... Start at 600???? Good lord love a duck!!

 

[ronlane]

And besides, if she were to sell a couple at $14K, I could at least get a new lens with my consulting fee

 

[ronlane]

It really depends; in downtown Toronto, absolutely, but where she is, just outside of Upper Gumboot Junction, there's always the issue of pricing yourself out of the market.

Actually... The average income in this area is 100k a year, it is also cottage country for To and surrounding areas and not little shacks, high end waterfront properties. It is also known for high end retirement properties. There is no lack of disposable income especially from May to the end of autumn! (Yes I did my homework lol )

Now Paul, I'm going to ponder your post and get back to you when I pick myself up off of the floor.... Start at 600???? Good lord love a duck!!

PR, I had a lady at work look at one of my photos the other day and said something about a 2' x 3' of it for the wall behind her sofa. After I got to looking at the price to print, matte and frame and then add in my cost to actually make a little money, it was going to be $500 easy. And I was SEVERELY under pricing my profit on this.

 

[tirediron]

It really depends; in downtown Toronto, absolutely, but where she is, just outside of Upper Gumboot Junction, there's always the issue of pricing yourself out of the market.

Actually... The average income in this area is 100k a year, it is also cottage country for To and surrounding areas and not little shacks, high end waterfront properties. It is also known for high end retirement properties. There is no lack of disposable income especially from May to the end of autumn! (Yes I did my homework lol )

Now Paul, I'm going to ponder your post and get back to you when I pick myself up off of the floor.... Start at 600???? Good lord love a duck!!

Are there any other galleries in your area where you could go to get an idea of what others are selling for? To me (and this is based on my market; I live on the far side of Lower Gumboot Junction! ) an 11x14 seems more like a ~$400 product than a $600; $395 has a nice ring to it.