Here is something I've been thinking about.
An artist friend had a painting I adored. I saw it in person and still adored it. However, it was a full sheet watercolor - and it was priced at over $3,000 (matted and framed). I couldn't justify spending $3,000+ on a painting, even though I loved it.
I got a postcard from an artist I know who has a show in New York next month. His works are all full sheet watercolors. And he has $3,000 on each of them.
My painting that got into the Viewpoint juried show was taken to the framers Friday. Ken (my framer), Sweetie (he's got a good eye), and I all worked to choose matting and framing to make it look good and also "impressive" because it's a small painting: an 11" x 15" (fourth sheet) watercolor that needs to hold its own in a room full of large oils, pastels, acrylics, etc. Taking into account the price of the matting and framing, and the 40% commission that will be taken by the gallery, should the painting sell, I will make less than $10 for the painting. (Didn't think that one through, did I? ha ha)
Obviously, I don't do this for the money.
Obviously, 'm undervaluing my paintings.
Well, not because I don't feel I'm worth it.
But I guess, deep down, I think I would like to be in a range where someone might buy my work who can't make themselves spend $3,000 for a painting.
So - for those of you who have been getting into shows and selling work, what are your criteria for pricing your work? Do you just price according to size of the painting? Or do you have another way to come up with pricing?
I guess I'm thinking if I don't raise my prices, people may see my work as that of an amateur and not give it the credit (whether they buy, or not), it's due. (It's almost embarrassing to get into a major show and find out your work is priced hundreds of dollars under comparable watercolor works in the show.)
So I guess it's time to do something about it.
If you had a full sheet painting (22"x 30") that was a good painting and you were very pleased with it - and it cost quite a bit to mat and frame it - would you be okay with putting a $3,000 price on it? More? Less?
I'd be interested to hear your thoughts.
Have you ever purchased a piece you thought was very underpriced? Is that what made you buy it?
Have you ever wanted a piece but couldn't justify the price on it?
What makes a good piece hang on the wall while a not-as-good piece sells?
Too many questions? ha ha