Effective Painting Pricing Tips for Art Fairs

Written by Daisie Team

Published on 10 July 2023 6 min read

Whether you're a seasoned artist or just dipping your brush into the vibrant world of art fairs, knowing how to price your paintings just right can feel like trying to capture a sunset with just four shades of paint. Fear not, my fellow artists, because we've got you covered. This guide will provide you with practical and effective painting pricing tips for local art fairs that won't leave you questioning your worth or your wallet.

1. Know Your Material Costs

Before you even start thinking about profit, it's important to know how much you're spending on your materials. This isn't about pinching pennies on quality — it's about understanding the cost of creating your art so you can price it fairly for both you and your customers.

Cost of Paints

From alizarin crimson to zinc white, the price of paints can vary significantly. Whether you're using oil, acrylic, or watercolor, you need to consider the cost per tube and how much you typically use in a painting. Are you a fan of thick, textured layers or do you prefer a thin, smooth application? Remember, the more paint you use, the higher the cost of your materials.

Cost of Canvas

Next on our list is the canvas. While a 16x20 canvas from a big-box art store might be affordable, a larger, custom-sized canvas from a specialty art supply store could cost significantly more. Also, consider if you're using stretched canvas, canvas panels, or even canvas paper, as each comes with its own price tag.

Cost of Brushes

Lastly, let's not forget about brushes. From sable to synthetic, the cost of brushes can range from a few dollars to a small fortune. However, don't forget that a well-cared-for brush can last for years, so consider this a long-term investment. Just make sure you include this cost when pricing your painting for your local art fair.

Knowing your material costs is the first step in understanding how to price your painting for a local art fair. It's not about squeezing every penny, but making sure you're fairly compensated for the resources you put into your work.

2. Evaluate Your Time and Labor

Now that we've covered material costs, let's move on to something equally important but often overlooked—your time and labor. Remember, every stroke of your brush, every minute spent in front of the canvas, adds value to your work.

Time Spent on Creating

Consider the hours you put into each painting. From the initial sketch to the final layer of varnish, every moment counts. Of course, not all paintings take the same amount of time. A quick plein air landscape might take a few hours, while a highly detailed portrait could take weeks. Keep track of your time and consider it when pricing your art. After all, time is money, isn't it?

Time Spent on Marketing

But wait, there's more. What about the time you spend marketing your art? From setting up your booth at the local art fair to managing your social media presence, these tasks also consume valuable time. Even packing and shipping your paintings to customers or to the fair location should be factored into your pricing. After all, it's all part of the job of being an artist.

When you start seeing your time as a tangible part of your artwork, you begin to understand the true value of your labor. So, the next time you're pondering how to price your painting for a local art fair, remember to consider every brushstroke, every minute, and every effort you put into your work.

3. Consider the Art Fair Location

With the cost of your materials and the value of your time in mind, we now move to the next important factor when deciding how to price painting for local art fairs—location. Just like in real estate, in the art world, location can significantly impact the price.

Big City Fairs

Art fairs in big cities like New York or San Francisco often attract a mix of local and international visitors, many of whom are seasoned art collectors. This diverse audience, coupled with the city's high cost of living, usually allows for higher art prices. However, the competition can be fierce, with many talented artists vying for attention. So, when pricing your paintings for such events, consider the potential for higher returns but also the increased competition.

Small Town Fairs

On the other hand, small town fairs, such as those in Asheville, North Carolina or Santa Fe, New Mexico, have a different vibe. They often attract a more local crowd, and the atmosphere can be more intimate. Here, the prices might be lower than in big cities, but the potential for developing long-term relationships with local art lovers could pay off in the long run. So, when pricing your paintings for these fairs, think about the value of these relationships and the potential for future sales.

Understanding the impact of location on art prices is a crucial step in finding the sweet spot for your art pricing. As you gain more experience, you'll get a better sense of how to price painting for local art fairs, whether they're in bustling cities or charming small towns.

4. Compare with Other Artists' Prices

Once you have a good handle on your costs and the impact of location, it's time to turn your attention to your fellow artists. Understanding how other artists price their work can provide valuable insight into how to price painting for local art fairs.

Pricing in Same Art Fairs

Start by examining the prices of other artists who exhibit at the same fairs as you. This can give you a sense of the general price range that attendees expect. Remember, you want to be competitive—not necessarily the cheapest or the most expensive. Aim for a price that reflects your skill and experience while also fitting within the broader market context.

Pricing in Similar Genre

Next, consider artists who work in a similar genre or style as you. These artists are your most direct competition, and understanding their pricing strategies can help you position your own work. Do they price based on size? Complexity? Subject matter? This information can guide your pricing decisions and help you communicate the value of your work to potential buyers.

Comparing your prices with those of other artists is more of an art than a science. It involves a balance of self-confidence, market awareness, and strategic planning. But with some practice and patience, you can master this important aspect of how to price painting for local art fairs.

5. Create Flexible Pricing Structures

Finally, let's explore the benefits of flexibility. A rigid pricing structure might be simple, but it might not serve you best in the fluid environment of an art fair. Incorporating some flexibility into your pricing strategy can make your work more accessible to a range of buyers.

Discounts for Multiple Purchases

One popular strategy is to offer a discount for multiple purchases. This can encourage buyers to take home more than one of your pieces. For example, if you typically sell your paintings for $100 each, you might offer a 10% discount for buyers who purchase two or more. This approach can increase your overall sales, and it also helps to establish a loyal customer base who appreciates your work and is willing to invest in multiple pieces.

Offering Payment Plans

Another flexible pricing strategy is to offer payment plans. This can make your art more affordable for people who might not be able to pay the full price up front. A payment plan could involve a deposit at the time of purchase, followed by monthly payments until the full price is paid. This strategy requires a bit more administrative work on your part, but it can be an effective way to broaden your customer base and boost your sales.

Creating a flexible pricing structure is a smart move when figuring out how to price painting for local art fairs. It allows you to cater to a wider audience and can increase the potential for sales. Remember, the goal is to strike a balance between getting the price your art deserves and making it accessible to art lovers.

After exploring our tips on effectively pricing your paintings for art fairs, we highly recommend checking out Olivia Ghalioungui's workshop, "How to Price Yourself as a Creative." This workshop will provide you with even more valuable insights and guidance on pricing your work, helping you to establish a reliable pricing strategy for your creative business.