Cracking the Code: Mastering the Basics of Art Pricing
Hi friend,
Let´s be real… You´re considering buying some art and you start to wonder…:
… is it worth it paying for the original when there are prints available?
…is this painting *really* worth hundreds of dollars?
Does this sound familiar?
Art pricing is not a straightforward formula (sorry!) and without proper knowledge is difficult to know if you’re getting a good deal. Here a list of tips so you can make an informed decision.
1. Open Edition Prints
Pricing: Open edition prints are the most budget-friendly option. They are usually priced at less than $100 for medium and small sizes. Price can go up based on quality, size, and artist trajectory.
For example, my prints currently go from $19 to $79 depending on size.
Considerations: Open edition prints provide an accessible way to bring art into your life. They also can be an excellent choice for exploring different artists and styles without a significant financial commitment! It’s a great start point for new collectors.
2. Limited Edition Prints
Pricing: are generally more affordable than original paintings but less than open edition prints. Prices typically starts around $100 and go up. Rare or highly sought-after prints may run in the thousands of dollars.
Considerations: Limited edition prints offer a balance between exclusivity and affordability, making them an excellent option for collectors looking to own works by renowned artists.
3. Original Paintings
Pricing: it’s difficult to put a number as it can vary significantly based on: artist's reputation, size, medium (oils and acrylic on canvas are more valued that watercolors), etc.
Considerations: Original paintings are one of a kind objects, and tend to go up in price with time. A painting is a long-term investment and a reflection of your personal connection with the artist.
If your budget is limited, choose emerging artists (like me!).
For example: my first painting sold was “Fire” a 14x14in acrylic on canvas, for $120. The same piece will sell now for double the price just a few years later.
4. Proofs
Pricing: Proofs can vary widely in price, with some being more affordable than limited edition prints and others being priced similarly to or even higher than the final edition prints. The price depends on the artist's reputation, the rarity of the proof, and its condition.
Considerations: Collecting proofs is a niche within the art world, with pricing influenced by their uniqueness and their role in the artistic process.
BONUS
Remember that art pricing varied by demand, trends, and the artist's trajectory. When considering art for purchase, it's essential to set a your budget, start small and follow your heart!
Hope the info was helpful!!
You can explore originals and prints on my site!
Happy collecting!
-Clara