What I do is search for related items online and price around that. I went on etsy to sell a large blue marlin painting I did and I found similar paintings that were the same size. I kind of priced around them.
It's a very good idea to see how others price their art online. I ended up pricing my painting at 400 dollars which is a lot but a good deal comparatively to other paintings.
I'd charge between $400 and $600 for a traditional work that's about 2' per side. But I'd probably get better at art before I tried selling to people. That's a starter price for a really big work, but people who pay that price for art are rather unlikely to pay for fantasy art that is so simplistic.
Oh! So they're large pencil drawings, not necessarily "posters". I gotchya. I was thinking you were printing posters.
As with any commission or sold artwork, definitely factor in the time taken as well as how much you think your skill is worth. You can always adjust your prices if it doesn't work out; just don't undersell yourself.
I understand the point you are trying to make; that you won't fetch a fair price for a crappy drawing just because it took you a long time. But I think that analoge is misleading, because the implication is that they should charge less regardless of labour hours and not recoup the expenses it took to create the item.
The solution is not to go into buisness untill you have developed a product that you CAN sell for what it cost you to make.
Your argument doesn't make much sense. A manufacturer has to spend a certain amount of money on equipment and workers to make a certain amount of televisions. If a television is more complex and takes longer to make, they're going to have to pay more to keep the equipment and workers working longer so they'll sell the television to the retailer for a little bit more money, and this cost trickles down to the consumer when they purchase it.
Equal quality or not, the time spent will trickle down to the consumer. The great thing about art, though, is that "quality" varies with the view of the consumer (whereas with a working product, like a television, it either has good picture quality or it doesn't; there's very little haziness as far as what is working and what's not).
Personally, I think both the time AND skill of an artist need to be taken into account. If you invest 16 hours of time into something, no matter how shitty it turns out, are you going to charge a couple bucks for it if you intended to sell it in the first place? You'd be better off getting a minimum wage job. Skill, of course, should be a factor as well (as well as the primary factor).
If someone's going to commission a work from an artist, it's probably not an arbitrary decision and the customer probably does care about time, effort, and skill put into their work and are paying for it.
Some customers do. Some don't. The ones that don't are usually people that don't respect the work and time being put into the finished product. This sort of ignorance to the work involved does not just include artists, but also industries such as computer repair, landscaping, and lots of other services that also include a final product. You can't expect a decent result without a certain amount of time being put in; that's why many places charge by the hour as well as have a starting rate.
Yeah, but businesses care. If you can't charge enough to cover your time and materials your business sucks and it's going to die a horrible death. The business owner's job is to either convince the customer that the product is worth the price, or to make a product that the customer wants enough that they will pay a fair price for it.
You might as well be arguing that nobody should charge anything because if you have two equal TVs and one of them is a fair price and the other is free, the customer will take the free TV. There is a balance between the business's needs and the customer's. You can't rob the business to make the customer happy.
If your product isn't good your costumer will go with the competition isn't of worrying about how much it took you to make it.
Perhaps It's becuase I come from a country where labor fairness doesn't always work. If one tv was free of course the costumer will go to the free product always. In fact that's a bussiness practice today. Give away something free to "earn" your costumer loyalty in the long run.
Console manifacurers for instance sold at a loss just to earn their costumers and regain the money in other ways.
I am not saying it's fair. I am just saying that's what happens in reality and it's unrelistic to expect a client paying more because it took you longer when he can simply go with the competttion for a better product or a even a product that is both better and fasterly made.
I'm not saying that it's fair either, but if you don't find a way to make the customer give you enough money to cover your expenses and time then there is no point in having customers at all because you will go out of business. That's the bottom line. If your business costs you $20 per hour to run then you'd better charge $25 per hour to your customers. If you are charging $15 for a product that costs you $20 to make and you aren't making up that money in a different part of your business then your business is dying and having more customers only makes you go into debt faster.
This is often obscured by the fact that artists subsidize their business with a day job or their parents' money. But if you want to run a viable business instead of messing around, your business MUST turn a profit.