How to set the right price?

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Troy (Don) Jackson

Tue., Aug. 17, 2010 (7:16pm)

I set a price and let interested people negotiate. If it is reasonable I appreciate the deal and let my art be seen by others. As I get better so will the price and the clients.

Geoffrey Darwent

Tue., May. 11, 2010 (7:43pm)

I am lost when it comes to pricing. I've just been lowering my prices until it says "Great Deal". I've been using this method as my guideline.

Melva Wicklund

Wed., Dec. 16, 2009 (6:52am)

Similar art work found for $1200.00 so this is a great price.

Eric Hui (founder of Gallerish)

Tue., Nov. 17, 2009 (3:31am)

Here are a few tips, and please add more:

RESEARCH:
Do some research on the Internet. Find similar artworks and see what prices are they set at. Pay more attention on artworks that are sold than those that have been in the market unsold for a long time.

TRIAL AND ERROR:
Try a price for a few days or weeks, then lower the price progressively every few days or weeks until it is sold. The price sold is likely around the "right" price for artworks with similar style, medium, and size.

ROLE PLAYING:
Really put yourself in the shoes of your intended customers and ask yourself whether you would pay the price that you are asking for.

 

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