Pricing remains one of the most thorny aspects for any artist or
This is why the recent Professional Development
spent over two hours
discussing just this issue. It was a "jam packed room" of over 350
people. The energy was high! The conversation moved quickly.
If you are seeking a pricing
strategy, listen to the SlideShare presentation with audio from
our four speakers' presentations titled, "Not Just Another Pricing
Presentation: A Dialog About Pricing Your Work." Then listen to the 55 minute Q & A with our speakers and
the audience. The discussion was lively and informative. Find all of this information for free on the
Professional Development Seminar page on the SNAG website or the Professional
Development Seminar page on my web site.
YELLOW SHELLER BANGLE
Recycled Paper, sterling silver
Artist: Francesca Vitali
Did you notice that "overhead" was a confusing topic? I tried to cover "Overhead expenses" and Overhead labor in previous posts.
The first revelation with bold honesty came from Francesca Vitali (one of our speakers). She realized that she was pricing her work incorrectly! She had not grasped that she needed to include overhead in her pricing formula.
MURA TRIO RINGS by Frucci Design
Artist: Francesca Vitali
Photo Credit: Philip Cohen
was making the most frequent mistake of all emerging artists. They are not including their overhead expenses and overhead labor.
Consequently, most of the work is grossly under-priced. I would boldly say that these new makers are ripping themselves off!!!
In the previous post, Pricing Your Work - Overhead Labor and Manufacturing Labor and Pricing Your Work - What is Overhead?, I discussed two umbrella categories of Overhead expenses.
In the next posts, I plan to show how you can estimate your Overhead Expenses and integrate it into your pricing strategy. Yes, I said estimate. Including your overhead within your pricing formula is always a "guess-estimate", but the BIGGEST MISTAKE is to ignore it or forget to include overhead.
Overhead includes every expense in operating your business that
can't be attributed to making one specific piece or artwork.
Harriete overwhelmed with overhead.
Start today while you work in your studio and in your office. Think about how many hours you spend cleaning, organizing, preparing your materials, purchasing parts, planning your booth, packing your work, managing your inventory records, writing your artist statement, posting your work on line, or standing at a show selling your work. How many of these hours have you forgotten to include in your pricing? Are you ripping yourself off?
MULTI-COLOR April Flower with Soft Yellow to Aqua Greens and Red Coke