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There are many questions to consider when pricing a work of art. Determining the final price of your masterpiece can be tricky. For many artists it may be daunting and even emotional. Time, talent, materials, education, research, marketing, distribution, administration and promotion must be factored into the cost of each artwork. When all is said and done the dollar value may still be only what the customer is willing to invest. However, artists must have confidence in their prices to avoid getting haggled down during a street festival.
First, you need not sell to be a successful artist. Creating quality-consistent art is most important. I believe artists should focus on the research and creation of art. If you are serious about developing your skills and pioneering new art, there may be grants available to help you. Getting positive feedback about your art from fellow artists and the general public is the most rewarding part of any Art Walk.....
irene apon - 2013-06-23
this is definitely the hardest thing to do - setting a price. The feedback that you get from fellow artists and the public does really give confidence to strike out and do it.
Robin Young - 2013-07-03
Here's a question: If someone has seen a piece of your art elsewhere and has asked you to "Reserve" that piece and they will pick it up from you during Art Walk, should you display it with a "SOLD" or "RESERVED"sign on it? What do you do if someone comes along and offers you more than the reserved price for the piece?
The Art Walk - 2013-07-09
Hi Robin, In this case the sale is ultimately up to you. Our advice would be, if someone wishes to "reserve" a piece, to take a deposit or inform them that in the case of a higher offer you may sell the piece to someone else.
Other than that, a wise move would be to take the contact info for the higher bidder, let them know you will get back to them if the other purchaser falls through.