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Knowing How Much Your Art is Worth

  • By: Michelle Brown
  • Date: October 2, 2021
  • Time to read: 8 min.

I am looking at my art, and I can’t shake the feeling that I’m not giving it enough attention. It’s like there is this constant nagging voice in the back of my head telling me to make time for it. The truth is, as with anything else in life, if you want something done right, you have to put some effort into it. In this blog post, we will be discussing how much your art is worth so that you know what type of budgeting you should do going forward.

Appraisals are a Must

When it comes to knowing how much your art is worth, you can’t beat an appraisal. Appraisals are not free, but they will give you peace of mind. Realistically speaking, the best reviews come from someone who has experience in the field and knows what your piece should sell for. This means that if you have a good friend who knows about fine art, they may be able to give you an estimation based on their sentimentality towards your work. This isn’t bad at all, but these types of appraisals don’t hold up when it comes time to sell them – just like anything else!

Build Your Portfolio

If you’re brand new to fine arts, then it is time to start building your portfolio. If you’ve had your art for some time already, it is still a good idea to build up your collection. The great thing about new artists is that they are easier to sell because there aren’t many of their pieces on the market yet! It’s an excellent way to get exposure and increase the value of your pieces by simply adding new work.

Know Your Piece

It may sound obvious, but the more you know about your piece, the better chance you have of knowing how much it’s worth. It never hurts to talk to someone who specializes in the field about what types of buyers would be interested in something like yours. Sometimes all it takes is just one buyer with passion for your genre or medium to get your career going.

Find a Specialist

If you feel like you have exhausted all options, find a specialist to help answer how much my art is worth. Not only will they be able to provide an appraisal, but they will also provide recommendations on what steps you should take next in your journey as an artist. In some cases, it may even be beneficial for you to talk to multiple specialists before making any decisions about where to go from here!

Don’t be too Afraid to Sell

The worst thing about being an artist is never being able to sell your work! We like to keep things that we love and admire close by as human beings, but you can’t do that with art. It’s essential to hold onto pieces in your collection that mean a great deal to you, but at some point or another, there will come a time when everything else must go. If the price is right and the pieces are ready (it’s not wise to try and sell old paintings, for example), it may be beneficial for you to sell them rather than letting them collect dust on a wall somewhere.

Be Mindful of What You Pay

There is no reason why you should ever feel bad for overpaying when buying artwork – especially if it is something you love. The only thing you should feel wrong about is overpaying for something that doesn’t have any sentimental value to you. That being said, it pays to know what type of art is worth the price before you go out and buy it! Otherwise, you’ll end up spending a ton of money on different pieces only to never want them in your house after they are home – I’ve done this before, and I wish someone had told me beforehand!

Don’t Be Afraid to Negotiate.

Another fantastic way to find out how much your paintings are worth is by negotiating with potential buyers. Just because an artist wants a specific amount of money for a piece doesn’t mean you have to pay. It is perfectly acceptable to ask for more money! In some cases, the buyer may not want to go as high as your asking price and will agree to your original offer. This means that it wasn’t actually worth as much as you thought it was – don’t be afraid to decline the sale if this happens.

Know What Type of Value You are Getting

It never hurts to know how much your art is worth, but it is even better when you know what kind of value you’ll be getting from an individual or business regarding their art collection! Not everyone will give you top dollar for every painting in your collection – that’s just not reality – so it can be helpful to know what you should be expecting from certain people or businesses. If they aren’t willing to give you top dollar for your pieces, is there something they can provide in return? That alone might make the transaction worthwhile and worth your time!

Research and Prioritize

Like everything else in life, knowing how much your art is worth will take some research and effort. You’ll want to do a little bit of homework before heading out to find a good deal on any type of fine art! It takes patience, persistence, and time – but it’s worth all of the hard work when you finally get an answer back about how much something (or everything) in your collection is worth!

Be Prepared for the Ups and Downs of Selling Your Art

One of the only downsides to knowing how much your art is worth is that it might be too expensive for some people. In this situation, you will have to find a different buyer to sell your pieces. If one person doesn’t buy from you, that doesn’t mean no one else will. It may take a little patience to get what you deserve, but at least now you know where to start when looking for a great deal!

Don’t Expect Your Artwork to be Worth Millions.

I understand that every artist’s dream is for their work to be worth millions of dollars someday – I’m certainly not going knock anyone who thinks this way! However, most artists don’t realize how unlikely it is for this to actually happen. If an artist isn’t dead or alive when their work is worth millions of dollars, there’s a good chance that the original owner won’t be around to see it.

Don’t Limit Yourself with How Much Your Art is Worth.

I do understand that some artists have different expectations than others – including myself. I love painting and drawing things out, but I also want my pieces to be displayed in people’s houses worldwide. As long as people are enjoying my artwork, I feel like it is all worth it!

Do Your Research with Fine Art

Just because most fine art pieces are worth thousands of dollars don’t mean that they are all costly! If you want to find out how much your paintings are worth, you’ll need to do some research first. Just about any online search engine should give you a good answer if you’re looking for something specific or general. You can also check eBay or Etsy to see what similar items have sold for in the past. This way, you know exactly what price range you should be looking at before hunting down any specific artist or painting.

Keep Track of How Much Your Art is Worth

The best way to know the current market value of any type of art is to keep track of your collection. You can do this by creating an excel spreadsheet or even just using a piece of paper. I wrote my name, year, and price on my details to determine how much my artwork was worth.

Don’t Limit Yourself When It Comes to Selling Your Artwork.

I understand that some artists want their original pieces in their possession for sentimental reasons – that’s okay! That doesn’t mean that you can’t let someone else borrow it for a while, though. If you’re able to rent out your work (even if it’s just once!), then you’ll be able to make some money off of your collection. Just be sure to get in touch with the owner of your artwork once they are finished so you can give it back.

Study Art History & Understand What is Current

Like most other things in life, art history can offer valuable insight into what might be worth more money. If you want to know how much your collection is worth, study art history! Find out which pieces of popular art are worth thousands – or even millions – of dollars. Knowing this information will help you determine the value of your own work and help you get a better price when selling it.

Look for Pricing Information at Local Shows and Exhibits

If you’re curious about the fair market value of any type of artwork, just head to your nearest art show or exhibit! Usually, you’ll find pamphlets upfront with information about how much something is worth. Don’t worry if you feel like the price tag is too expensive because the next art show might have prices that are way better for you!

Get your Prices Right from the Start

When I first started selling my artwork, people constantly complained about the price or how it wasn’t worth that much. However, my reason was simple: they hadn’t even seen the prices! There is nothing more irritating than not knowing what something is actually worth, especially when you’re standing right in front of someone trying to buy it off you.

Don’t Be Afraid to Negotiate.

You might know your art’s Worth, but don’t expect everyone else too! That doesn’t mean that you have to give everything for free because there are many ways to negotiate. Just make sure that both parties are happy with the end result. For example, if I go shopping, I approach purchasing an item to get a good deal rather than just give them my money without any questions.

Decide which Type of Art you want to Sell

There are so many different types of art, and each one has its own collectors and admirers! For example, some people collect photography while others prefer paintings. My advice is to decide which type of art you’d like to sell and focus on that, so your artwork doesn’t go to waste by not selling it at all! If you love every piece in your collection, consider giving a few away as gifts or donating the rest. You can always spend extra time creating new pieces if that’s what speaks to you most.

Start with Your Easiest Pieces

The easiest way for me to quickly make a sale was to start with my most effortless pieces. Sometimes these were the least special to me but still reflected my style. You must focus on selling your best work, but it is also good practice to get rid of the things which aren’t quite up-to-par. Selling art isn’t about showcasing your talents – otherwise, everyone would be an artist! Instead, this is about finding someone who wants your work and meeting them halfway by making it affordable for them.

Conclusion

Many factors determine the value of art. It’s always a good idea to get an expert opinion before you start pricing your pieces. By partnering with us, we can help you be confident in pricing and selling your artwork for what it is worth. Let’s talk!

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