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How often do give yourself a raise?

Hello friends,

Just a general question and wanted to get some opinions from fellow artists. How often do you give yourself a raise? I am aware that different people have different ways of pricing their work but I’m specifically asking about people who charge per sq inch. Say as an artist I start out at 2.00/sq inch, I feel like I’m progressing as a painter at an exponential rate, so what is a general rule of thumb for increasing the price of my work without letting my ego get in the way? 
Also I have a couple older works hanging around that I feel may sell as soon as I start putting my work out on the market (I haven’t really sold anything yet) but say they do sell... should I price them at my current rate or as a beginner artist at 2.00/ sq inch

Comments

  • For instance, this is one of the older paintings from 2017 I have hanging around that I feel people may be interested in...

    and this is something I just finished yesterday (still deciding if it’s finished) and obviously there’s a different level of workmanship at play so the pricing should reflect that too, or no?
  • @LogosChroma

    If your work is original yes. These are derivative works. That's obvious. The football painting would require attribution at least and possibly written permission. The acceptable Vermeer copy has to have the painted after attribution on the front. Placing a square inch value would be hard to justify. 

    You really can't be worrying about price your work until you begin to show original work. I encourage you to start doing original work from your own sketches, photos and life. You have some skills.

    Markets control prices. Markets can be as complex as the New York and London auction houses. Mostly they as simple as the local demographics in your area. How many galleries, or art fairs there are in the area. How many outlets are available to you. How many people can afford to buy art in you area. 

    The internet is an option. The net grows exponentially every six months. There are countless outlets for artists. If you want to do the work you can track what is being sold and for how much. You wouldn't have much time to paint. Competitions are a way to get your work seen. Mostly by other artists.

    Selling art is harder than painting. Making good original art should be our goal. Not how much we can get per square inch.

    I can't see how an artist would rate themselves by the square inch anyway.  
    MichaelD
  • @LogosChroma

    Charge the highest amount the market will bear.  If your paintings are selling too quickly, increase your prices.  If they are selling too slowly or not at all, reduce your prices.

    :)

    tassieguyMichaelD
  • edited April 24
    Yup, it's what the market will bear. That's hard to know if you haven't yet sold a painting. I suggest keeping your prices on the low side until you've tested the market and then gradually raising them if the work is selling well. That's all you can do really.  :)
    MichaelD
  • @KingstonFineArt Thank you for all the great advice! I live near Annapolis, MD, so it's definitely an area where people can afford art (though I have no idea if COVID has disrupted the art market at all). I also work a full time job and have a family so I already have no time to time as well. My plan was to just start putting these on Etsy (i tend to get really lazy when it comes to actively trying to sell the work)  I have no confidence in my abilities to produce an original work right now. I was kind of taking the old fashioned approach where one would spend several years just reproducing their mentors art works before even attempting their own composition. 
  • @CBG @tassieguy thank you both for your input. I have to start to become more active when it comes to the sales side, I suppose.
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