Pricing artwork can be a real challenge for artists, Heather Balchunas of the Somerville Arts Council explains. Artists have to factor in time spent on the piece and the cost of materials and space, and find the perfect balance between making sure their pieces sell and not undervaluing their work.
Figuring out pricing can be difficult for both emerging and established artists, Balchunas says. But the Somerville Arts Council is here to help.
The council has run numerous professional development events for artists in the past, ranging from marketing and social media advice to Investing 101.
“Being a creative, you have to juggle many different things in order to make things happen for yourself,” Balchunas says.
“The Price Is Right: How to Price Artwork” is the second event in a mini professional development series the council is holding this spring. The event will start with a pricing activity where the audience will guess how much different pieces cost, which will put them on the consumer’s side and underline how subjective art pricing can be.
Then two gallery directors, Kate Kate Kostopoulos of the Chase Young Gallery and David Guerra of A R E A, will speak to artists about how to price their work and answer questions. The event will also dive into the beneficial relationship that artists can cultivate with gallery owners, Balchunas says.
The first event in the series, focused on helping artists explore different residency options, ran in April. The third event, “The Art of Taxes,” is scheduled for May 21.
“The Price is Right: How to Price Artwork” will run on May 16 from 6:30 to 8 p.m. at the Arts at the Armory Cafe. The event is free.