Magical Forms, 2013, Jo-Ann Sanborn
oil on board, 7x5
Some of you may wonder how artists price their work. I don't know about others, but will tell you my process. I reassess my pricing structure about once a year. First, I look at other artists who are in about the same point in our careers. For me, these are regional artists who have attained some national recognition, have done things like win prizes in national shows, received invitational requests from outside their area, have a proven business model through steady increases over the years, and have a recognizable style. These are my competition.
I price my paintings by size. It makes sense to me and takes the emotion out of the equation. However if I think a painting may win a prize, or want to save it for an exhibition, I may put a higher price on it.
My best value, original work Everglades paintings are $150. It's a great starting price for original work, and both new collectors and island visitors love these small 5"x7" pieces in terrific gold frames. Mostly done in acrylic, I'm starting to work these in oils as well. You can see them as a group in my Daily Paintworks gallery. I love having a very affordable option for you, so won't change the prices on these. That's been decided.
I have more work to do in the reassessment, thought. Since I don't do prints or copies, and offer just original work, next I look at what I have on hand, and what has sold over the past year. If I've very little inventory and sales are very strong, I'll raise prices about 10% on either my smaller paintings or my on larger ones, but never both in the same year.
But I'm concerned about the effects of a difficult economy had haven't raised prices lately. Time to take a look and see what's new in the market!