Raising my prices

[Vianna Szabo]

Hi-

I have been painting commissioned portraits for 13 years without a break. It has been wonderful in that it allowed me to stay at home with my children and to be active in their school. It has also been a wonderful way to be paid while I improve my art skills. I have kept my prices low because I have done very little advertising and those prices gave me a small but steady income, now I am ready for a change. I have some opportunities to teach and for the first time in 13 years I do not have a waiting list for the portraits. I am thinking this may be an opportune time to raise my prices so that they are more congruent with what I find on this web site. I live in the Detroit area and there are some pockets of wealth that I could advertise in. I am thinking of asking 2,500 for a head and shoulders, 4000 for a three quarter view and 6000 for a full figure. My prices are currently 800 for a head and shoulders and 1200 for full figure. (I can imagine Cynthia cringing as she reads this) Any thoughts on making the big price jump? I know I risk losing my current clientele but I feel as if I am ready to make this change. I am a little nervous doing this and I would appreciate any advice offered.

[Michele Rushworth]

I am not that familiar with your work, but you might want to compare it to some of the SOG artists on the main site and their prices.

If you're not sure where you fit in, ask some friends and family who will give you honest feedback how they think your work compares.

If the work warrants it I wouldn't be at all afraid to make a very big jump in prices. You may need to make major changes in how you market your work, though, so that it gets in front of the people who will be able to afford your new prices.

[Vianna Szabo]

Thanks for answering Michelle. I have some ideas on marketing and am looking forward to trying them out. You seem to have an excellent business sense and that is something I need to develop. Thanks again, Vianna