Monday, March 3, 2008

Pricing

I'm finalising some pricing decisions on artwork tonight, and would be interested in your thoughts. I've always tried to get other's opinions as I get closer to launching the website, so I'd be interested in hearing yours.

As I said in an earlier post, I'd like to find a balance, where artists can be fairly paid for their work, and buyers don't have to be high end collectors to find something for their walls.

Probably the majority of work that will initially be on sale will be open-edition prints. So I'll be taking my cue from some of the other print sites out there for setting the prices. And then for limited edition, I'll charge a little more. And of course, for the one off original work, you'd expect the prices to be a little higher again.

I'm constantly surprised by how little etsy artists charge for their work. Take Tanya Pshenychny, an etsy artist who I found tonight. Tanya's work is beautiful, and yet she is only charging US $15-$20 for her prints. This seem to be typical of many etsy artists, who, in my opinion don't charge nearly enough for their work.

I'm not saying this because I want to charge an arm and a leg for the work I sell on ivoteforart.com. It's just that these artists are pouring hours of love into their work, and I think it's only fair that they get something back.

I'll be working closely with the artists so that we price the prints at amounts that we're all happy with. But I'm thinking that the majority of the work will sell from anywhere between US $40 and $200, as a guide. And most of the work will be under $100 I think. This will depend on a lot of factors ... and this could change along the way. So don't hold me on this!

But this sort of price range seems to make sense to me. Some of the artwork will be cheap enough for a gift, where others will be more suited to buyers who want something more substantial to brighten up their lives.

What do you think?

2 comments:

art4friends said...

very interesting little blog you have here! :)

renee anne xx

Tanya Pshenychny said...

Hello, thanks for the acknowledge.

I'm gonna be completely honest here, I really wish I could charge more for my prints because I barely break even at this point. But I have researched other artists on Etsy and found them to be charging even less than me. Many have their own fancy Epson printer, while I use a company to produce my prints and it's kind of expensive. It's a competitive market and I just started. So far, I haven't sold a single print on Etsy. My "sold items" page doesn't lie.

I've heard about your upcoming site and was waiting to see what it's all about and how I could fit in.