Help to determine the value of your Art

During a recent presentation by Karen Goetzinger on “The Business of Art – How to Price and Sell Your Artwork“, organized by AACR, several calculation formulas were presented to assist association members who have questions or difficulties pricing their works.

In order to help AACR members with their decision-making the following widely accepted formulas are suggested as possible solutions to consistent pricing.

Formula A:

Height x width x 1.2 + the cost of the frame (emerging artist)

Height x width x 1.3 + the cost of the frame (experienced artist)

Height x width x 1.5 the cost of the frame (professional artist)

Example using a 16 x 20 canvas: 16 x 20 x 1.2 = $384.00 + frame

Formula B

(Height + width) x 10 + the cost of the frame (emerging artist)

(Height + width) x 15 + the cost of the frame (experienced artist)

(Height + width) x 20 + the cost of the frame (professional artist)

Example using 16 x 20 canvas: (16+20) x 10 = $360.00 + the cost of the frame (emerging artist)

This information is provided in the spirit of helping those who have asked for some guidance on the topic of establishing prices for their art.