Monday, 10 March 2008

Competitions - Pricing

The juried show I’m entering is asking for a dollar value on my paintings for insurance purposes and they want to know if they are for sale.

The easy part is “yes” they are for sale. The hard part “how much”? I have no idea! How do I figure this out? In the past, I just went with gut instinct…how much do I think someone would pay for this?” Not a good way to go. I either under priced or over priced.

I need to price my work correctly so that the prices would be comparable to other artists, comparable to each other and fair for me so that I can continue to buy paint. I need to set the prices for not just the pieces I am entering in competitions, but for those that I set up on my website that is under development.

From all the information I have read on the subject, I will have to do math (shiver). Have you noticed that math is a four-letter word? I hate m*#h! There is no way around it though so I’m off to get my pencil (a big) erasure and a calculator.

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