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Art Work Pricing SECRETs

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Art Work Pricing SECRETs

For new collector's of art the number one confusing or disturbing issue they encounter is price. Why is their such a diversity and range of prices for some works of art? Some works of art with what appears to be very little detail sell for a high price, and other more detailed intricate works are priced low. Why? There’s a very long answer for this, however I promise to keep it brief.

I’ll use my own pricing structure as an example. When I started this art journey, pricing created a lot of anxiety. I spent hours researching YouTube and other internet resources to come up with a comfortable consistent structure. I start out using the square inch method. I take the width, height and multiply, then take that number and multiply with a dollar figure. This gives me a base rate for any size of art work.

I then spent some time searching the internet for emerging artists with a similar background and style. Reviewed their web sites for their price range.
In addition I searched my target market area for what art similar to mine are selling for, and I adjusted down or up my prices. In this manner, my own price range is not that drastic from one piece to another. There are also other factors to add in, framing, material, shipping, packaging etc.

As a new collector, look for consistent pricing, across all sizes, and price growth. Large swings up or down, may be a risk, unless the artists can really justify a major event in their career. For you the collector growth in pricing is a good thing, as long as there is a gradual climb. Because you're collecting art for beauty, legacy, investment, and most of all FUN.