Competition-Based Pricing
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Look at similar artists, their medium, and their experience. Compare prices, then adjust for your materials, skill, and uniqueness. Great for emerging artists, prints, or custom products.
Pros: Quick start, market awareness, competitive edge.
Cons: Can hurt self-esteem, may undervalue unique work, risk of a “race to the bottom.”
Time + Materials + 20%
Calculate every hour you spend, plus materials, plus a small markup.
Example:
Painting: 100 × 100 cm (1 m²) oil on canvas
Time: 32 hours at R150/hour = R4,800
Materials: Canvas R1,000, paints R500 = R1,500
Markup 20%: (4,800 + 1,500) × 0.2 = R1,260
Artist Price: R4,800 + R1,500 + R1,260 = R7,560
Gallery Price (50% commission): R7,560 × 1.5 = R11,340
Pros: Objective, covers costs, easy to justify.
Cons: Can feel like you’re paid per hour rather than value, spreadsheets required.
Intuitive Pricing
You look at a painting and let your gut decide. It’s flexible and personal—but inconsistent.
Pros: Personal connection, flexibility.
Cons: Often underprices work, hard to scale, inconsistent.
Sliding Scale (Per Square Inch / cm)
Set a base price per square cm (or inch) that scales with size. Works well if you produce works of varying dimensions.
Example in Rands:
Base Price per cm²: R0.90
Painting: 100 × 100 cm = 10,000 cm²
Price = 10,000 × 0.90 = R9,000
For commissions, you could raise the rate slightly, e.g., R1.00/cm² → R10,000.
Pros: Transparent, scalable, easy to adjust yearly.
Cons: Doesn’t account for complexity or intricate details.
