Tuesday, May 8, 2012
Pricing your work
A couple weeks ago I talked about how to get into shows etc.
The next big thing (and one everyone hates) is to figure out how to price your work.
Sometimes I have seen work so overpriced it boggles my mind, but a majority of the time I see stunning work under priced.
So here is how I go about it.
First there are material cost. This is important. Hopefully you are buying wholesale, but if not you still need to mark up your materials. (I encourage you all to get a wholesale number!)
So your art clasp that was $12.00 should be $24.00 etc...
Next how long does it take you to create your art pieces. So I price my time at about $60.00 per hour. So if a bead takes and hour, then the price of that bead is around $60.00.
BUT, and here is the problem. If I make a bead that is especially difficult and totally new and takes an advanced skill level then I price it higher. You are paying for my ability and skill level. Be proud of your work!
Next how long does it take you to assemble your piece? Make sure you write down your start time and finish, AND include design time. You are not only being paid to put the piece together but also for our artistic eye.
Do you have any ideas on pricing? Please share it with us.
See you next time.