Money Money Money

OK here goes.
it seems no one ever talks about this so i
thought i might start a thread on how you work out how much to charge for your art,
i dont really want to know prices for specific pieces but rather how you come to an end figure. eg $ per hour or $ per foot etc

Thats a good question

Personally, I am yet to create anything that I think anyone would actually pay for.

One day though... Therefore i am interested to find out what others say.

Bobby remember the demand here may not be as big as in the states so bear that in mind.

If someone were to ask me for a price (which
hasn't happened a lot)...I simply determine
how much rum or tequila it would take to
make another one...and price it accordingly.
Usually equates to at least one cocktail
per hour...sometimes two if I get really
excited!

I have had the same dillema. Materials, time and blood - what is it worth? As a graphic designer its fairly easy to use a standard rate per hour, however, carving goes beyond any "standard" practices. I have spoken with several experienced artisans about how they price items and what it really comes down to is - how much are people willing to pay as opposed to how much do you expect. The two can quite different. Negotiation can be the key. Once you have done a few pieces pricing usually works itself out - but the first few sales may be a little aukward. Good Luck.

When pricing my first few frames, I had to consider what anyone off the street would pay for a custom made frame at a frame shop. If you went to Aaron Bros or Michaels and purchased a frame how much would they charge? Luckily, they charge alot (In my opinion) so I wasnt trying to back into a tiny number (I think the average mid sized frame cut assembled with matting is over $200).

I figured what an 18x24 frame would cost then I divided it into the number of inches in the frame. Then using that increment, I could bid on any sized frame by simply multiplying cost per inch times the number of inches in the frame.

The second component was trying to determine the demand or desirability of my product. As the percieved quality of the product goes up, I increase the price (slightly) to meet the demand.

I could never price it based on labor or time because what I do takes so freakin long. If I took an average frame, backed out materials costs (which are low) and then divided all the hours I spend making something I average about $3-4 dollars an hour. My salaried job pays about ten times that rate so a smart man would not pursue this as a living without significant technology or automation.

Luckily I love doing it.

The only real way to make money at it is to be so incredibly good that you can charge a super premium for your work OR learn how to automate the process with technology. Carving Duplication, Overseas Labor, 3d Computer Duplication.

I think about this topic often and am curious to hear responses from our other artisians.