How to Price Your Original Artwork for Maximum Profit

💰Click to get your Art Pricing Guide for FREE. 

In this episode of the Empowered Artist Podcast, I address the crucial mistake of underpricing your art, a key barrier to earning more money and transitioning to a full-time artist career. I delve into market price points and how emerging artists often undervalue their work, along with five severe consequences of underpricing, such as devaluing your labor and missing growth opportunities. You'll learn strategic pricing techniques to enhance the perceived value of your art and attract serious collectors. Access my new art pricing guide for practical tools that can transform your pricing strategy, positioning you for long-term success and greater financial freedom in the art world. Tune in to elevate your art career and embrace the journey towards becoming a full-time artist.

00:00 The Pricing Mistake Emerging Artists Make

00:27 The Podcast is back! - Reunited and it feels so good!

01:11 Personal Update and Podcast Changes

01:53 The Profit Problem Among Emerging Artists

02:52 Understanding Art Market Price Points

05:57 The Consequences of Underpricing Your Art

07:29 Strategies for Confident Pricing

09:53 Personal Reflections - Highs, Lows, and Life Lessons

14:59 Affirmation

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Episode Transcript

Jenna Webb (00:00):
One of the most prevalent and detrimental

(00:02):
mistakes emerging artists makeis pricing their artwork to low.
You may be wondering, well, whatis too low?
So today we're going to analyzetwo specific price points in the
major art market.
How emerging artists typicallyprice, and then I'll share a
five long-term consequences ofunder pricing, so you can

(00:25):
totally avoid them.
Welcome to the empowered artistpodcast, where you'll get all
the strategy to sell your artonline.
I'm Jenna Webb.
I've helped thousands of artistsrealize and achieve their dream.
I'm an artist, marketing coach,founder of art preneur academy,
and your new art businessbestie.
As the how to girl, i'll giveyou all the tips and tricks that

(00:46):
will actually grow your artbusiness.
So tune in each week as wesimplify art marketing, make
selling your work fun, andelevate your art preneur mindset
so that you can feel like thebad-ass that you are even on the
tough days.
i am on a mission to transformthe mindset and income of
artists everywhere so if you'reready to live your dream life as

(01:08):
a full-time artist, let's do thedamn thing
Oh my gosh.
Hi, my love.
It's so good to be back.
I have a really miss connectingwith you.
Let me just tell you, my summerhas been a very steep
rollercoaster of highs and verylow lows.

(01:28):
Stay tuned for the lessons Ilearned this summer and an
announcement of how the podcastwill be changing into.
A new flow.
Key word is flow.
We will wrap up today with oneof my all time favorite daily
affirmations.
I think you'll find it just aspowerful as I do.

(01:53):
I'm really excited about today'stopic.
We have a profit problem amongemerging artist.
In my years of coachingthousands of artists, I know one
thing.
This problem, undoubtedlycorrelates with pricing and
confidence.
And I hate that so much.
So I'm here to help becauseconfident pricing means

(02:16):
competent sales, and I want tohelp you reach your full
potential.
The quickest way to get theconfidence and pricing clarity
you seek is by downloading mybrand new art pricing guide.
It's totally free and availableto you in the show notes or go
to Jenna Webb art.com/.

(02:37):
Art pricing guide.
If you're on my email list to beon the lookout for a special
private invitation, I'll behosting a one-time workshop on
pricing, your art for profit.
You won't want to miss it.
So let's dive in.
One of the most prevalent anddetrimental mistakes emerging
artists make today is pricingtheir artwork too low.

(03:00):
You may be wondering what is toolow.
Today, we're going to analyzetwo specific price points in the
major art market, how emergingartists typically price, and
then I'll share five long-termconsequences of underpricing.
So you can totally avoid them.
Before I share the industryprices.

(03:21):
I want you to think about whatyou typically sell a large
original artwork for.
Hold that number in your mindnow.
So I did some research and amongthe top of websites where
art.com and so tachy.com andtheir average prices for large
artwork arm.

(03:42):
art.com.
$200 to$500.
So tachy art is$2,000 to$5,000.
Is that not an astoundingdifference.
Can you guess why there is a900% price difference?

(04:04):
This stark contrast in pricingreflects the fundamental
difference in value betweenoriginals and prints.
Now, of course we aren'tcomparing a single original to
its exact print counterpart.
But generally speaking, so tachyart, which specializes in
original artworks.

(04:25):
Commands prices of 2000 to$5,000for large pieces.
art.com focuses on prince.
Uh, selling large artworks foronly 200 to$500.
Many emerging artists, lackingconfidence or market knowledge

(04:49):
price, their original workscloser to the art.com range.
Essentially valuing their uniquecreations as if they were mass
produced prints.
This underpricing typicallyreflects the price of a print
rather than an originalpainting.
Which can have severeconsequences for the artist's

(05:11):
career and the perception oftheir artwork.
There's a reason that the marketand collectors value, prints and
originals very differently.
Original paintings are unique.
One of a kind creations, eachbrush stroke, texture and nuance
is irreplaceable.

(05:32):
Prince on the other hand arereproducible.
This uniqueness factor,significantly impacts perceived
value.
And should be reflected in bothpricing and marketing
strategies.
So think about that price pointthat you had in your mind
earlier.

(05:52):
And how that is affecting theperception of your artwork.
Here are the five long-termconsequences of underpricing.
Number one.
De-valuing artistic labor.
Pricing original art at printprices fails to account for the
time.
Skill.

(06:12):
And creative energy invested increating a very unique piece of
art.
Number two.
Market perception.
Low prices can signal topotential buyers that the work
is of lesser quality.
Or that the artist doesn't valuetheir own creations, highly.

(06:33):
So think about what your priceis communicating to your buyer.
Number three.
Difficulty in price increases.
Once established at a low pricepoint, it becomes really
challenging to raise pricessignificantly without alienating
existing collectors.

(06:53):
Number four missedopportunities.
Serious collectors and galleriesoften equate price with quality
and potential.
Under priced work may beoverlooked by these important
market players.
Number five.
An unsustainable business model.
We're talking about profit.

(07:14):
So consistently underpricingmakes it really difficult for
you as an artist to sustain yourpractice financially,
potentially forcing you tocompromise on materials or time
spent on each piece.
So it's really crucial for youin all emerging artists to
understand that pricing strategyis not just about making sales,

(07:38):
but about positioning yourselfin the art market.
When you price your originalartworks appropriately you're
signaling value and quality topotential art buyers and
collectors.
You're leaving room forgalleries to apply their
standard markup.
You're creating a sustainablebusiness model.

(07:59):
That allows you to continue togrow.
So you're allowing room forprofits.
Where you can invest back inyour business.
In other words, price yourartwork for profit.
Not only do you need to coverthose expenses, but your
business needs to grow.
When you recognize thesignificant difference between
the value of an originalpainting and a print.

(08:22):
And price it accordingly.
You can position yourself forlong-term success and
recognition and the art world.
This approach not only benefitsyou as an artist, but also
contributes to maintaining theoverall value and integrity of
the original art market.
It helps us all.
So, if you're ready to transformyour art business and price,

(08:46):
your work with confidence.
Don't let under pricing hold youback.
Download my free art pricingguide to navigate the world of
art valuation and maximize yourprofits today.
In this essential guide, you'lldiscover how to bus common
pricing, mess, critical pricing,mistakes to avoid.

(09:07):
There's a great comprehensiveart pricing chart that shows
what works and what doesn't.
The proven art pricing formula,that's helped thousands of
artists and strategies toconfidently set prices that
reflect your worth.
Head over to Jenna Webbart.com/art pricing guide now to

(09:28):
get your copy for free.
Or click the link in the shownotes.
Remember proper pricing.
Isn't just about making moremoney.
It's about respecting your craftand positioning yourself for
longterm success.
Don't wait another day to startpricing art, like a pro.
You deserve it and confidentpricing equals confidence sales.

(09:49):
It's just one click away.
Do you ever feel like life is acrazy rollercoaster and you're
never going to get off.
But once you finally survive theroller coaster.
And all the adrenaline stops.
You actually have some cleartakeaways and you know how
you're going to move forwardintentionally.

(10:12):
And I have found that with mysummer highs and lows, and I
want to share a little bit ofthat with you.
And wrap up today with abeautiful affirmation.
So.
My summer highs were definitelythe amazing concerts I got to go
to.
My boyfriend and I had a seasonpass to our local concert venue

(10:33):
and we saw the most incredibleperformers.
We saw Hosier, which we agreedwas one of the best.
We traveled and saw Chris staple10 and then post Malone was
definitely the top.
But my major bucket list item, Ihave been a Bruce Springsteen
fan since I was a little girltraveling to all my sports.

(10:56):
Practices and out of town.
Meets and competitions with mymom.
Um, we'd listened to likeseventies rock Bruce
Springsteen, the Eagles, all ofthat.
So I finally got to see Bruceand the east street band and.
Trevor is a big fan too.
It's something we connected withas a couple.

(11:18):
When we first met.
And so we saw not only one.
Bruce show, but to Bruce shows.
It was a summer of musicalhighs.
It was awesome.
On the flip side.
My health has taken asignificant hit.
I have just been battling theworst intractable migraine cycle

(11:39):
of my life.
With consecutive migraine daysthat seem in lists.
It just feels like blow afterblow.
It's led to a lot of missed.
Opportunities, honestly, whetherit being work or opportunities
to have fun.
And despite an outpatientprocedure relief just has

(12:02):
remained elusive.
And to add to this challenge, Ideveloped a new chronic auto
immune disorder, which I'm stilllearning to manage.
So I really feel like this hasbeen a wake up call.
You know, you have to listen toyour body and honor that, and

(12:22):
it's pushing me to livedifferently.
I have immersed myself and studyand practice.
I've been focusing on living amore balanced lifestyle.
That's less.
Boom and bust and morepeacefully productive.
And I'm really happy to say thatI'm emerging.
On the other side, I'm feeling afresh surge of energy,

(12:46):
excitement, and motivation.
I'm really excited to be back.
Podcasting and connecting withyou.
And I'd love to know what kindof things you want to learn from
me.
So.
Right to me.
Please let me know.
Now that the empowered artistpodcast is back.

(13:08):
And I am living life in a newflow.
The podcast will have a new flowas well.
You can expect all the contentthat you've come to love, but
with a twist, so episodes willbe released without a set
schedule.
Adding an element of surprise toyour listening experience.
To ensure you don't miss out onany of the upcoming tips, tricks

(13:32):
and insights.
Please be sure to hit thesubscribe button and turn on
notifications.
That's honestly the best way tonever miss a show.
So hit pause and do that now.
Trust me, you won't want to misswhat I have planned for you.
So, thank you so much for yourpatience and support during.

(13:56):
The podcast break in betweenseasons.
I am so excited of what's tocome and continue our journey of
empowerment together.
I want to share an affirmationthat has been so powerful for me
every day.
If you're in a place where youcan stop what you're doing.
And take a second to close youreyes.

(14:19):
Take a nice deep inhale.
And slowly release.
Everything is happening for me.
Everything is happening indivine timing.

(14:49):
Everything is happening for me.
Everything is happening indivine timing.
I tell myself this every day.
If you love this episode andwant more content, please
consider supporting the show bysharing with a friend and
leaving a five-star writtenreview.
To grow your art business rightnow, check out the free

(15:10):
resources in the show notes orhead directly to Jenna webb
art.com.
If you don't want to miss asingle tip or trick, I highly
recommend following the showwith notifications turned on
because the podcast is releasedon a surprise schedule.
Can't wait to catch you nexttime.