Saturday, October 4, 2008

How do you price your art work?

Today's meeting of Designing Women was dedicated to this question. All the items in our exhibition in November will be for sale, and it was thought that everyone, but especially new members, would benefit from a discussion on the factors to consider in setting a price on your work.

We all brought our exhibition pieces (or reasonable facsimiles thereof) and the group made suggestions, not only regarding price, but also presentation. It was a very valuable exercise.

One thing some of us learned was that professional framing may force you to price your work above what is perceived as reasonable (rule of thumb is at least three times cost of framing). Using ready made frames (eg from Ikea) may initially save money, but may require you to make repairs at a future date. Pricing your work too cheaply may result in a sale, but may also have prospective purchasers think they might as well buy a mass produced object from Asia. We did not even discuss what, if any, effect the current financial crisis might have on sales.

I think the exhibition will be very interesting. It's scary that it is only a month away

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