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Wednesday, August 29, 2012

The Business of Art- Supply and Demand

“Artistic inspiration ignores the law of supply and demand.” – Mason Cooley

How much art to produce should be a very thought provoking question to ask yourself.

As an artist, inspiration may strike at anytime and the wheels of creativity start flowing and are very hard to stop. This leads to a house full of art and no one buying it. I am not saying there is anything wrong with being a prolific but it definitely needs to monitored.

Do you have an idea journal? This should not only hold sketches of upcoming masterpieces but it should include: sizes, materials, framing supplies, and any other cost normally associated with your work. This is a great way to figure out which pieces you can produce for your set budget each month and also keep your house from filling up with artwork quite as quickly.

Do you need help pricing certain aspects of your artwork? Do some research before you start and research the different qualities and price levels of your supplies. Figure out the average price for the supplies in the various styles and colors and write them into your budget and your idea journal. This will help you when you are pricing your work because there might be a huge difference in Kelly Green and Turquoise that you weren’t expecting when you named your price. Never name a price for your artwork without doing your homework and figuring out your expenses first!! 

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