How to estimate the price of your work?
We agree with you that a work of art is absolutely comparable to a bicycle or a sofa because like an “object” it is an emotional concentration. Being considered, gauging the value of a work of art is all relative. In other words, fixing its price is completely free. However, here are the different elements that allow you to determine the price of your work of art.
The main criteria
1. Material cost
Clay or gold leaf, the material used has a market value. From this point of view, the quality of the basic materials sometimes largely determines the value of the finished product.
2. The technique used
There is a hierarchy among the techniques, for example oil painting trumps all others. Just as marble sculpture will prevail over the earth. This hierarchy is linked to the complexity of mastering materials.
3. The market you operate in
This implies the scope in which your current network extends: local, regional, national or international market. If you are not famous enough, then it would be useless to charge high prices. It is worth increasing with your artistic “achievements”. On the other hand, lowering its prices also devalues your reputation. It is your network of acquaintances that is important. Get noticed!
4. Visual quality
The accuracy of the drawing, the harmony of the colors as well as the complexity of the composition are elements that come into play here. Visual experts will immediately notice if the composition is out of balance, the hues are harsh, or the lines and shapes are inconsistent.
5. The Artist’s Journey
Above all, the buyer needs to be reassured about his investment. He knows that buying art is an excellent business, but there still has to be added value. The number of personal or collective exhibitions, the diploma obtained, auction sales, competition victories, etc. therefore give you a value.
6. The market price
Normally when we put something on sale on the market, it is better to first find out about the prices charged for an equivalent product. For example, there is a difference if you exhibit at the art festival of the neighboring village or an internationally renowned gallery located in the wealthy neighborhoods. They do not have the same sales potential.
7. Technical quality
A work that has survived the centuries in remarkable condition is more valuable than one that needs restoration at that time. The lifespan of an artwork depends on the quality of its materials, therefore this lifespan could determine the value of the artwork.
8. Format
The format is one of the essential starting points. For a beginner or unknown artist, the price is based on the format of the canvas. Added to this are the various elements mentioned above (equipment, the artist’s career, etc.).
9. Working time
This criterion is unfortunately not so relevant. An abstract work done in a quarter of time could have much more market value than a painstaking work created over long hours…
10. The complexity of the subject
Just like the previous point, the complexity of the subject might not be so decisive; since just like the working time, the complexity of the subject does not necessarily prove the quality of the work.
