Art: What's in a Price?

How do artists price their work? Different artists use different formulas that take into account the cost of raw materials, a percentage of the cost of tools and equipment or framing, and an hourly wage. But it’s often difficult for the art consumer to understand how artists arrive at the prices on their work.

When starting out, artists look at other artists working in the same media and with work in similar venues (galleries, shows, shops). By factoring in such variables as how long the artist has been working, reputation, and quality of work, he or she can set a base price relative to the size of the work and then add in the cost of framing (in the case of two-dimensional work). Many artists increase the price of their work by a set percentage each year.

Artists such as jewelers may use a formula based more on materials cost plus an hourly wage for the time needed to create the work. Raw materials, especially the price of precious metals, can fluctuate wildly, and pieces of similar size may differ in complexity and the time needed to create and fabricate them.

Artists strive to keep their pricing consistent from venue to venue. This helps the work retain its value for both the artist and the collector.

The art buyer sometimes assumes that if he or she purchases directly from an artist, the price should be lower than that of work in a gallery, where the artist may pay as much as a 50 percent commission. What the buyer doesn’t understand is that the artist is doing all the things that he or she would pay the gallery to do via the commission: marketing, display, transportation, sales, bookkeeping, and the like.

Maintaining consistency in pricing is also the main reason artists are reluctant to discount sales. Artists survive and thrive by cultivating collectors and maintaining relationships. A collector would be displeased to find that someone else purchased a similar work for a discounted price.

Quality work will retain its value over time. If you’re concerned about value, look at prices that are consistent and in line with similar work in the area. Above all, purchase work because you like it. That value will never change.

Hillsborough Gallery Group Show, Finding Light, Opens with Reception January 27th

The Hillsborough Gallery of Arts opens the New Year with new work that reflects the artists’ interpretation of finding light in the depths of winter. The show’s opening reception is January 27^th from 6-9 p.m.

In her new work for the show, Painter Chris Graebner explores a new medium – oil paint mixed with cold wax. “I love the translucency this medium imparts and the ability to layer and to remove and reveal - and then layer some more,” Graebner says.

The gallery’s newest member, Pam Isner, creates complex mosaic pieces. “Since I work with glass,” she says, “light plays a primary role in what I do. Those of us who work with glass learn to use light as a creative partner, knowing that both reflection and refraction can serve to our advantage. Since light changes throughout the day, it continues to transform each piece, often revealing surprises.”

Painter Linda Carmel says of her piece: “My painting, Magical Moment, captures a sunbeam falling through the forest canopy, creating an enchanted spot ahead on the path. My intention is both physical and metaphorical. Each day, there are moments when we can choose to stop and take in the beauty around us. We can step forward into the light, a metaphor for the unknown; it is a painting about recognizing choices.”

Similarly, Ellie Reinhold’s piece, Ancestral Guide, is a metaphor about light as knowledge. “My piece is about shedding light on the connection between past family and the present generation. This piece is, in part, about the death of my father and, more recently, my uncle. When those close to us join the ranks of ancestors, it reminds us of our own mortality; it won't be long before I am an ancestor.”

Painter Kim Wheaton says she looks for everyday scenes where the light is fleeting – “where you may glance up and notice the particular way sunlight is hitting the stairs or a cabinet. You look away and back and the light has already changed. I also enjoy juxtaposing warm and cool colors to play up the contrast between warm sunny whites and cool blue shadows.”

Lynn Wartski, who creates sculptural figures in copper, has recycled a piece for Finding Light.
“I originally created the female tree figure for collaboration with another artist, she says. “I transformed and repositioned her to be a forest tree basking in the sun.”

Lolette Guthrie, who paints both abstract and representational pieces, says her paintings are always about light and atmosphere. “For the Finding Light show,” she says, “I concentrated on moonlight. Moonlit I and Moonlit II are abstract explorations of ephemeral light.”

The opening of Finding Light will be held on Friday, January 27th from 6-9 p.m. The Hillsborough Gallery of Arts is located in the Mercantile Building at 121 North Churton Street, in Hillsborough, NC. For more information, visit the gallery Website at http://www.hillsboroughgallery.com.