How to price artwork

From Saatchi: 

When pricing your art, it is important to adopt a consistent fact-based price structure. As an artist, you should be prepared to explain how and why you set your price. Prices need to be based on recent sales, the cost of labor and material, and comparisons with similar works. The price of your artwork should also include any packaging costs you might incur if the work sells (you don't need to factor in shipping costs as those will be paid for by the person who buys your work). Compare your art to what sells, not what does not sell. It's a good idea to have artworks in a range of prices in your portfolio, as this will widen the net of people who may be interested in your work.  

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