What does the artist usually do? Looks at price calculators, prices for analogs on websites, from colleagues, calculates expenses, the list goes on. I've already written enough about this and discussed it in groups and on training courses. Now I'll show you another aspect of the commercial aspect of pricing. Tell me, how many paintings have you sold? And how many are on sale? What is the ratio of views to sales?
Most people can't answer these questions. Most can't say how many works they have in total. And how many of them are for sale. And they don't keep track of sold works by clients, prices, or quantity. Moreover, most don't even consider the ratio of exhibited to sold.
Here's how it's calculated. For example, you have 27 works in the gallery, and only one was sold. (1/27) x 100% = 3.7%. Or you have 115 works, of which 34 were sold. (34/115) x 100% = 29.56%, or out of 5, 3 were sold. (3/5) x 100% = 60%.
I'm drawing your attention not to the quantity of sold works, but to the sales conversion rate, in percentage terms. And now why you need to know the sales conversion of your paintings. Pay close attention. Let me give you an example. You've already bought materials: brushes, paints, paper, canvases. That is, you've invested financially. You've painted 30 paintings.
Published and exhibited them. And only 2 were sold.
Then you bought paper, paints, canvases again and again. On average, out of 30 works, 2 are bought. So, these two sold paintings should cover the costs of creating 30. And so on in a circle. That's your price for one painting. At least at the level of covering the costs of materials and maintenance (storage). Rent for the studio, exhibitions, and everything else goes here too.
An example for a series of 12 watercolor works. Let's say you decided to create a collection of landscapes, still lifes, portraits, abstractions. And you start from scratch. Calculate the costs of materials to paint them (prices are conditional for example): 3 brushes, flat and two round, thick and thin, all for $30. A set of 24 colors in pans for $40.
Cotton paper with a density of 300, 3 sheets 56x76 cm for $14. A glass for water, paper towels, another $1. A simple pencil, eraser, tape, another $1. Let's say you learned from free videos, you draw at home, you have a table, a chair, cardboard, and glass under the sheet, water from the tap, and sunlight from the window flooding the room.
Oh, and one more important point. You draw without preliminary sketches, directly on a clean sheet and with an expected result. That means there's no stack of paper for sketches. Total $85. At first glance, it's logical to divide $85 by 12 and done! A clear price of $7.1 each! I smile.
This is only at first glance. Out of 12, only 1-2 will be bought. Two. So, divide $85 by 2 to get $42.5 for one work. $42.5 for one work and that's only material costs! And now add your expected profit, and you'll come to a price starting from $100 for a 30x40 cm painting. Plus, add the complexity of the subject, the presence of a story, and the degree of your fame as an artist. The price starts from 200 coins if there's anything to add, of course. The logic is clear enough? Attention question: "Does your level of mastery reach these prices?" No? Then grab a pencil. And learn. What happens next? With a competent sales system, the ratio increases. And you keep the same price or increase it. Thus, you achieve increasing profits from your creativity and become a commercial artist.