Common Pricing Mistakes (And How to Avoid Them)
If you’ve ever found yourself hesitating when someone asks for the price of your artwork, you’re not alone. Pricing is one of the trickiest areas for artists to navigate, whether you’re just starting out or even if you’ve been creating for years. Over my 20-plus years as a practicing artist and professor, I've heard countless questions and stories about pricing: "Am I charging too much?" "How do I know what’s fair?" or worse, "I’m afraid I’m not good enough to charge that much.” (Also…if you’re a student, don’t undervalue your prices too!)
Today, I want to talk directly to you about 7 common pricing mistakes I’ve seen (and probably made myself at one point or another) with some practical tips. Let’s also take a look at some strategies to avoid these pitfalls so you can price your work effectively, without feeling like you’re underselling or overpricing.
1. Undervaluing Your Work
Let’s start with what’s probably the biggest and most common mistake: undervaluing your own work. As artists, we often tend to price based on fear—fear that no one will buy, fear that our work isn’t "good enough," or that we aren’t experienced enough to ask for what we’re worth. When I started my path in art, I was afraid to ask what I thought a piece was worth so I constantly underpriced myself. The issue with that? Customers get used to that as their baseline price so you either have to gradually raise your prices or do a big price jump and hope they understand (some will, some won’t…this is something you’ll have to decide on if you found yourself in a similar situation).
The reality is, if you’re not confident in your pricing, no one else will be either. So how do you avoid undervaluing your work? Start by recognizing the time, skill, and emotion you’ve invested in each piece. Keep track of your material costs, too (this includes framing if you’re a 2-D artist!). Don’t just think about the hours it took to create it, but also the years you’ve spent developing your craft. Every artwork reflects the culmination of your entire journey as an artist. That’s worth something—actually, it’s worth a lot.
Practical Tip: Make a habit of factoring in all your costs (materials, time, and overhead) and then add in a fair profit margin. Keep in mind that your experience and unique style contribute to the value. Don’t undercut yourself because you’re afraid it won’t sell. Believe in the value of your work, and others will too.
2. Not Knowing Your Market
Another common mistake is pricing without knowing your market. If you’re charging New York gallery prices but selling to a local community that’s never spent more than $200 on art, you’re setting yourself up for disappointment. On the flip side, if you’re pricing low but trying to sell in a high-end gallery, you may not be taken seriously.
Understanding your market means knowing where your art fits within the art world and who your buyers are. Is your work aimed at collectors, interior designers, or casual buyers? Do some research on what similar artists in your niche and geographical area are charging. This doesn’t mean you should copy their prices exactly, but having a ballpark figure can help guide your pricing decisions.
Practical Tip: If you’re unsure where your art fits, spend time visiting galleries or online marketplaces to see what’s out there. Research is always key! Check in with other artists in your community or niche to gauge how they’re pricing their work. And don’t be afraid to adjust your prices as you learn more about your buyers.
3. Inconsistent Pricing
Inconsistent pricing can send mixed signals to potential buyers. If you’ve got one painting listed at $300 and another, similar-sized piece priced at $1,000, people will start to wonder why. Inconsistency can make buyers hesitant and create a sense that your pricing isn’t based on any real logic.
A common reason for inconsistent pricing is emotional attachment to certain pieces. You might feel like one work is “more valuable” to you personally, but unless there’s a clear, objective reason (like size, materials, or complexity), that emotion shouldn’t dictate your pricing.
Practical Tip: Create a formula that works for your pricing based on the size, materials, and time invested in each piece. Some artists use a square inch pricing model to keep things consistent. This will help you stay consistent and avoid pricing based on emotional factors. Having a clear system also helps when buyers ask why one piece costs more than another—you’ll have a concrete answer.
4. Not Accounting for Overhead Costs
It’s easy to forget about the many hidden costs that go into creating your art. Beyond materials and time, there’s studio rent, utilities, marketing, packaging, shipping, and maybe even website hosting fees. All of these costs need to be factored into your pricing, or you risk cutting into your profits.
Think of yourself as a small business. Every piece of artwork you sell has to cover more than just the cost of paint and canvas—it has to contribute to keeping your art practice sustainable.
Practical Tip: Take the time to calculate all of your overhead costs for a month, then determine how much of that needs to be covered by your sales. This gives you a clear idea of what you need to charge to keep your business running.
5. Relying Solely on Emotion to Price
Art is emotional by nature, but pricing it should be more of a numbers game. While it’s tempting to price based on how you feel about a piece—whether you love it or hate it—this approach can lead to wildly inconsistent pricing.
Emotional pricing often results in low prices because artists tend to undervalue pieces they feel “didn’t turn out right,” or they may charge too much for a work they’re particularly attached to. Either way, pricing based on emotion creates an unstable business model.
Practical Tip: Stick to your pricing system no matter how you feel about a particular piece. If you really can’t bear to part with a work, keep it for your personal collection rather than letting emotional pricing throw off your entire catalog.
6. Ignoring the Value of Your Time
We all know art takes time, but we often forget to charge for it. If you spent 50 hours on a painting but priced it at $200, you’re essentially paying yourself $4 an hour—less than minimum wage. Artists sometimes fall into the trap of thinking that because they enjoy the process, they don’t need to charge for their time. But that’s not sustainable in the long run.
Practical Tip: Keep track of the hours you spend on each piece. Even if you’re not charging by the hour, it’s good to have an understanding of how long each piece takes. This will help you feel more justified in charging a price that reflects your labor. You wouldn’t expect a plumber to work for free just because they enjoy fixing things, and the same goes for you.
7. Not Raising Prices Over Time
A mistake many artists make is keeping their prices the same for years, even as their skills improve and their work becomes more in demand. If you’re gaining more experience, growing your collector base, or being featured in exhibitions, your prices should reflect that growth.
Raising prices can feel uncomfortable, but it’s a natural part of running any business. As you gain credibility and experience, you’re offering something more valuable to your buyers, and your prices should reflect that.
Practical Tip: Review your prices annually and adjust them as needed. If you’ve had more demand for your work or have reached new milestones in your career, it’s a good time to raise your prices.
In the end, pricing your artwork is both an art and a science. It takes confidence, research, and a solid understanding of your worth as an artist. While it might feel daunting at first, avoiding these common pricing mistakes can help you build a sustainable art business and ensure that your work is valued for what it’s truly worth. Remember, your pricing not only reflects the effort you’ve put into each piece but also your growth and experience as an artist. With time, practice, and a clear strategy, you’ll find the right balance that honors both your work and your livelihood.
