Price your
oil paintings on par with the market.
While there are no set rules for pricing your artwork, there are some general guidelines to consider. Art appraisers take the artist's history into consideration when assigning value to artwork. Your oil paintings may command a higher price if you've won awards and gained recognition of your experience through group exhibits and one-man shows. Keep in mind as you explore different avenues for pricing your oil paintings, you can raise your prices incrementally over time, but you should never lower your prices. That means pricing your oil paintings conservatively in the beginning.
Instructions
1. Analyze your local art market. Learn about the work of other artists with similar styles and comparable talent. Go to art openings and talk with gallery owners and artists to learn more about what is selling. Set your prices within range of the local market when selling locally.
2. Research web-based galleries. Check the prices of oil paintings that exhibit your level of skill and that are categorized similarly. For instance, if you paint abstracts, compare your work to the paintings of abstract artists. Internet galleries charge the artist a commission ranging between 15 to 30 percent of the sale price. There may also be listing fees associated with web-based galleries. Deduct all fees and the commission from the listed price to reflect the actual price the artist receives for the sale. Use that figure as a mid-range to price your work.
3. Use the total of your costs to determine the price of your oil painting. Designate an hourly wage for yourself. Combine the cost of time working on the painting with the cost of materials and studio expenses. Include rent, utilities and insurance. Add an additional 10 to 15 percent to the subtotal for miscellaneous expenses. Use the total of your costs as a starting point to price your work. Your prices should never fall below your total costs.
