Price Your Artwork #2

Recapturing Operational Expenses
Try to build in some amount to recapture expenses for the initial creation of the artwork, and help cover other operational expenses (i.e. advertising, web site hosting, photography equipment, film). Coming up with this number will be a best guess that will evolve over time as you get a better handle of your expenses.

Profit Margin
This is what you'll ultimately make on each sale. Each person needs to decide for themselves what their price strategy should be. You may want to consider, for example, setting lower price points thus making more money by moving more of your product. The alternative is to price your work higher and make more per unit. It is somewhat of a fine line, as you do not want to instill in the mind of collectors that your work is not of great value. However you want to keep your prices high enough so that you reinforce the value of your work to the collector base.