Placing a value on art?

shamo · Joined: 17 Feb 2009 Posts: 4 Location: Queensland

Hi all,

Ever been in a debate about the value of your work, or being too commercial/ overpriced/ underpriced/ ripped off by galleries ?

Spent the morning writing this blog, tell me your thoughts?

Shamo

http://outbackart.wordpress.com/2009/03/06/the-value-of-art/
_________________
Surrealist painter
website: www.outbackart.com.au
blog: http://outbackart.wordpress.com

InfinityLegend · Joined: 18 Aug 2008 Posts: 14

Depends on how much the buyer wants it to be. If it is overpriced, don't buy it. Laughing

patsy · Joined: 29 Nov 2008 Posts: 300 Location: Perth

Have never reached that point I give mine away..perhaps when I stop worrying and just go for it someone might show interest Question

artforumdude · Joined: 02 Apr 2009 Posts: 6 Location: Brisbane

My suggestion is to pay for a professional art valuer to value a couple of your works so you have the confidence of saying it is worth such and such. This being said beauty is still in the eye of the beholder and is thus subjective, so use the valuer's price as a guide with a few grains of salt. Also check out www.artbusiness.com and click on the "articles for artists". This dude knows his shit! It covers topics such as this one....it has been the most help to me in the world of art so far......that and marketing.

Remember being a professional artist is about both creating and selling your art....as said by Robert Kiyosaki (Multi-millinonaire author of Rich Dad, Poor Dad). Most artists remain poor because they are hippies who think marketing is the work of the devil......no.....marketing is simply a tool to be used for good or bad. It is the language of the business world.

Sorry for the rave but this is absolutely crucial if you really want to be a professional artist supported only by creating your art.

Peace Wink

Rachelle88 · Joined: 08 Apr 2009 Posts: 26 Location: New South Wales

I'm only a student... however I find it hard to put a value on my own works. I'm wondering which is the best way to work out how much a work should be sold for. Any ideas... ???

biki · Joined: 09 Dec 2005 Posts: 450 Location: Byron Bay

Thanks "artforumdude" - do you really think this guy's $75 buck was worth it.? - to at least look at the website.?

what did it do for you.? How are you priced these days.?

it is all so tricky. without a decent CV, one seems to be at a loss.

I have a story:
last year i entered a group show & put $4000 on one painting that i thought was worth it. I figured that it would not sell, but at least it would be seen, and was not prepared to sell it for less, as it could always be save for an exhibition one day ( ha ha). And lo & behold, an art collector bought it for the $4000!!

I am about to enter the same group this year, and am having the same thoughts as to what price to put on them. It is SO difficult.!!

I hope this thread opens up some for further discussion.

sunfire · Joined: 01 Mar 2008 Posts: 1430 Location: Toodyay

There was this thread posted the other day,
http://www.artforum.com.au/vtopic12761.html

charging by per inch or centimeter.
Once you have worked out your base price the rest would then be easy.

I started by going to all the local exhibitions & seeing what others charged for similar works, then worked out what it all cost me & made the decision of what was the bottom price I would accept for a piece & wacked that on.
When I had made a couple of sales & won several awards, I put the price up a bit to about average for the exhibitions I enter.

Steve Gray · Joined: 17 Aug 2008 Posts: 1569 Location: Geelong

It's about chutzpa and grit, you pick it, stand by it and hold your breath!

Honestly I have been to many galleries (contemporary ones) and have seen great works for $1250 and across town lesser works (by a simmilarily rated Artist) for $6,000

It depends on the target market, what they know, what the gallery knows (about you and your prospects for the future). and the image of the gallery... one I know has a low end price point of $8,000.

sunfire · Joined: 01 Mar 2008 Posts: 1430 Location: Toodyay

Well I tried today to work out this pricing by per cm, I based it on the prices I had on my larger works, ( I don't do very large works, they're small really as I don't have the room)
but when I put that cost per cm to my smaller works & miniatures it came down to more or less giving them away.

Then there are some that only took a couple of days to produce but most take me 2 to 3 weeks, so I don't feel it's right to put the same price on them.
I haven't got anywhere with this idea, spent the whole afternoon going over it with the calculater & just ended up frustrated.

Tony Moffitt, if your reading this please give some more insite into it, do miniatures need a different rate, if so, there has to be a cutoff point in size.

If I put a better base price on the miniatures then the bigger paintings seam rather expensive, or perhaps I don't charge enough for the bigger ones.

Would love to hear if anyone else has tried it out & how you went, I guess it would be easy if you do all similar sizes & styles.

Steve Gray · Joined: 17 Aug 2008 Posts: 1569 Location: Geelong

So what happens if you work it out by time.. working on say $40 per hour.

Tony Moffitt · Joined: 09 Nov 2008 Posts: 24 Location: Newcastle

Hi Sunfire. I'm sorry! I wasn't aware of this conversation until I just received an email from a fellow AF member.

It's generally accepted that Miniatures are a 'unique' form of art. I'm actually pretty sure there are specific measurements that define the term 'miniature' but I honestly don't know what the size definition is.

My suggestion in your instance is to work out a cm rate that produces a far price for you... but do it on one of your BREAD AND BUTTER sized paintings.
If your 'usual' sized work is 30x40cm, then work out the price you want for that 'standard' sized painting. Then you'll know you're getting fair payment for your typical sized work. And afterall, the majority of the paintings you sell will probably fall into this general bracket, based on your comments.
Adjust the prices on every other painting in accordance with this rate.
However, I'm just a painter, and that's my advice as a painter.
BUT...
Next week I'm about to begin a new series of exclusive interviews with gallery owners around the world. I've posted at my blog an invitation for all artists to contribute THEIR questions. It's an opportunity to get answers to any of your questions, direct from an art gallery owner! You post the questions, and I'm going to ask them for you!
If you'd like to post this as a question, I can get a response direct from a gallery or two for you.
This is the link to the post I'm referring to:

http://tonymoffitt.blogspot.com/2009/04/who-else-wants-to-ask-gallery-owner.html

Everyone who would like a specific question asked, is most welcome to post.
I hope this helps. If you'd rather contact me directly, you're most welcome to email me through my Art World Blog site.

Steve Gray · Joined: 17 Aug 2008 Posts: 1569 Location: Geelong

Yeah but... what sort of gallery owners... high end contemporary or framers with a gallery etc... Confused

Tony Moffitt · Joined: 09 Nov 2008 Posts: 24 Location: Newcastle

What sort of gallery owners do I interview?
Well the most recent interviews I have completed have been with:

*OK Harris Works of Art in New York
*Sherwood Gallery in Laguna Beach, California
*Morpeth Gallery
*Greenaway Art Gallery in Adelaide
*Metro Gallery In Melbourne
*King Street Gallery on William in Darlinghurst
*Breewood Gallery
*Infusion Gallery in California
*United Galleries in Sydney and Perth
*Art Gallery Collections on the Gold Coast

Do you want more????
Suffice to say the exclusive interviews on my Art World Blog are with a broad range of galleries in different parts of the world. The artwork they offer is just as diverse as their locations, but I'm sure everyone would agree the information from these interviews is priceless to artists everywhere.

Steve Gray · Joined: 17 Aug 2008 Posts: 1569 Location: Geelong

Not so much more, but depth of what they have or represent.

e.g. a gallery that shows works of purely contemporary boundary pushing not aiming so much for a sale (art for art sake types) like 200 Gertrude St Fitzroy. As opposed to some of the galleries in High St Armadale (not all) who sell more "decorative works" with low concept as a foundation but more ohh and ahh value as a visual feast for the viewer (usually done to high "technical std") but beyond the nice image there is little...

At the top end there are galleries with high value to the Contemporary Artist and those galleries of limited value.

e.g. Australian Galleries, Roslyn oxley9, dianne tanzer, forty five downstairs, John Buckley, ATG (Anita Traverso Gallery) and or curators from national galleries.

Then you have to figure on the tyes who are starting to buy direct from the Artist (see the work of Hazel Dooney) who chooses to avoid galleries and has recently sold very well in auctions... not a gallery in site...

The value has a lot to do with status for the "end user"...

sunfire · Joined: 01 Mar 2008 Posts: 1430 Location: Toodyay

Thanks Tony, for the info.
At least now I know you didn't mean a blanket price over everything & that I should be looking at the miniatures seperately.
That will make a difference to working out the pricing.

And Steve, --- $40 an hour Shocked

, gee, no one's ever payed me that sort of money Confused

It would add up to a lot more than I've been charging.
wow, be nice though. Very Happy