Pricing Your Work

Although pricing your artwork can be difficult, it’s a key part of building a sustainable and viable business.

This toolkit covers a few factors you should consider when formulating prices:

Materials, equipment and consumables

This includes materials and equipment used as part of your practice, as well as the administrative items needed, such as stationery.

Documentation and marketing collateral

Consider the work and cost involved in creating promotional material and the subsequent marketing strategy.

Repairs and maintenance

If your equipment requires upkeep and maintenance, this should factor into the price of your work.

Financial administration

Seeking professional accounting, tax, bookkeeping or financial services are a crucial aspect of any business, and such costs need to be factored into your prices.

Administration

Consider the time spent on grant applications and factor this as an administrative fee.

Rent

Even if you work from home, include a fee as if you were renting a studio. As a forward-thinking strategy, this ensures that if you rent a studio in the future, your clientele won’t experience an exorbitant price increase.

Utilities

Factor in electricity, phone, internet and computer use.

Resources

Refer to NAVA’s Code of Practice for further information in payment standards, fees, wages and much more.

This infographic on calculating hourly rates for freelancers provides an accessible breakdown of what you can account for.

Guildhouse does not provide accounting or taxation advice. Consult trusted professionals to ensure you’re meeting your financial and business obligations.  

Guildhouse Community and Accredited members are eligible for Advice Bank sessions. Discuss a range of topics with Guildhouse’s experienced art professionals, including; grant funding applications, professional documentation, marketing, communications, artist opportunities and more. Contact us for more information.