Tuesday, August 27, 2024 | By: Bonnie Sorsby
Pricing your artwork effectively isn’t just about choosing a number—it’s about ensuring that your hard work results in fair and profitable earnings. Whether you’re working with interior designers or galleries, understanding how commissions and discounts impact your net income is crucial. That’s where our Net Earnings Calculation tool comes in.
In this post, we’ll guide you through using this feature to confidently price your work, ensuring you know exactly what you’ll take home after commissions and discounts.
Our art pricing calculator begins by determining your artwork’s Suggested Retail Price (SRP) based on the size of your piece and whether it’s on canvas, panel, or paper. This SRP is calculated using a square inch pricing method combined with a career multiplier, which considers your experience level and market position. The SRP is the baseline price from which all further calculations are made.
Once you have your SRP, it’s time to see how discounts or commissions will affect your final earnings:
Enter the Discount or Commission Percentage: If you’re working with an interior designer who requests a trade discount or a gallery that takes a commission, simply enter the relevant percentage into the calculator. This could be, for example, a 20% designer discount or a 40% gallery commission.
Automatic Calculation: The calculator will automatically apply the discount or commission to your SRP. It will then show you your Net Earnings—the actual amount you’ll take home after the gallery or designer takes their share.
Review Your Take-Home Pay: This final figure is your net earnings, giving you a clear understanding of how much you’ll receive after the sale. This is crucial information for ensuring your pricing aligns with your financial goals.
Understanding your net earnings allows you to establish a minimum acceptable price for your artwork. This ensures that, even after discounts and commissions, your work remains profitable and contributes to your income goals. The Net Earnings Calculation tool simplifies this process, helping you make informed decisions about your pricing strategy.
With a clear understanding of your take-home pay, you can enter negotiations with galleries or designers confidently. Knowing exactly what your artwork is worth enables you to negotiate pricing or commission terms that protect your profitability.
Artists often feel pressured to lower prices or accept higher commissions, which can significantly impact their earnings. By using the Net Earnings Calculation tool, you’re not just pricing your art—you’re safeguarding your livelihood. This tool ensures that every piece you sell contributes meaningfully to your income, allowing you to sustain and grow your artistic practice.
If you’re serious about making sure every sale supports your financial goals, our comprehensive Artwork Pricing Calculator is your new best friend. It goes beyond just calculating prices—it helps you strategize, ensuring that your prices reflect the true value of your work while keeping your income goals in sight.
Click here to get the Artwork Pricing Calculator and start pricing your art with confidence today!
Purchase this Artwork Pricing Calculator today. Because your art is worth it, and so are you.
This pricing calculator is available as an immediate digital download and arrives as an Excel sheet with the ability to adjust it to meet your specific needs.
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