Pricing Fine Art

[jsecordphoto]

I agree with Eddie (who by the way has given me some great advice), there is something to be said about playing into the psychology of your target market, and perceived value. It reminds me a lot of a previous job I had. I live in a VERY touristy area of NH right on a huge lake, a popular spot that a lot of wealthy people have their summer "camps" (adirondack style mansions) on. I worked at a furniture store that catered to that market, selling a lot of paintings, adirondack furniture, etc. My boss would get these shipments from China, and two of his biggest sellers were these desk lamps with little canoes on the side, and paintings (framed reprints) with lake and mountain themes. The canoe lamps cost him like $3 each, and he would mark them at $250- and he couldn't keep them on the shelves.

Now I'm not saying your work, which I find pretty unique and I like it, is anything like these crappy lamps- but the theory is similar. Mark your prices up, and people will mostly believe it is because they are worth the cost. It's like a status thing, saying they paid hundreds of dollars for your artwork. Doing limited runs is the same idea. Best of luck to you! I plan on trying my hand at some art shows in my area next summer, as the season is really winding down around me now.

 

[PixelRabbit]

Thanks so much for your replies and kind words all! I did end up going with the 325 and 425 prices. Eddie, great info on your pricing, thank you! I will carry everything forward with me as I have another showing booked in the Southampton Art Gallery as a guest artist August of 2016 (woot!!). They require limited editions so I have to get that in order now to not limit myself on what I can use when the time rolls around.