Pricing Principles
Price and Value
I hope you can find value in what I offer, and the price fair. The monetary worth of an artwork is initially not easy to establish. My simplified approach to pricing saves me time on business operations and can help you make a purchase decision faster as well.
Main Policy
The prices of the products and services are final and total for the client, and they might increase over time.
There will be no sales and no discounts. Sometimes though, I gave a special lower price to people I know who take the paintings right out of my hands.
Costs
Main Components of the Cost Structure
- Time investment and expertise;
- Marketing, research, distribution, operating expenses, materials, space;
- Replacement of equipment, future expansion, return on the capital.
Pricing of Physical Products and Artwork
Prices on products will include all taxes and fees, specifically, see the breakdown in the Bill of Sale:
The price you see on the screen will therefore be all-inclusive for you - all is included, with no extra charges, and you see the total.
Fine Art Pricing
The base prices of fine art originals and workshops include:
- Artist's time, skillfulness, and talent;
- Professional art materials;
- Studio equipment replacement costs and amortization;
- Studio space;
- Provision, management, and marketing costs;
- Experimentation, education, research.
Time and Value
Services and products offered on this site are mostly unique, and my pricing strategy is therefore value-based, especially for the fine art objects. Some paintings can be comparable to others but have special qualities, or have required extended investments of time and other resources to be completed. I price them higher.
Time is a highly valuable resource, and to manage it efficiently, I also use an operations-oriented approach to setting a price. For example, if I have multiple requests for one specific product, or if I have little time to attend personally, I might increase the price of the piece or the meeting.
Quality and Markets
I decided not to use promotional or psychological pricing or some other marketing techniques I know well. I studied marketing and other economics subjects and formed my views on its methods over many years afterward. I do not want to apply some of them to my own business.
Fine art trade and consulting are special markets, and my general strategy is adjusted accordingly. From art dealers and managers, I learned what works for me and what surely doesn't. I hope you will find my approach to setting prices reasonable and agreeable, and the results of my efforts - valuable to you.
