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Question from Megan: ” I am wondering about how much should I price a 16×20 Canvas mounted on a Matboard? How much should I charge over my cost?”
Christina: I double whatever my cost is for them. But that is just me.
Cortney: Usually you multiple your cost between 3-5. I do 4 so I’m right in the middle.
Cara: Double cost is not enough to be profitable in the long run. At minimum you should price products at 3x cost.
Kendra: At least 3x : 1/3 for your profit, 1/3 or the product and 1/3 for taxes. I generally do 4x, so the extra 1/4 would be going back into my business.
Jeff: One million dollars! But that is not realistic, or is it? This is your work, your art, ask for what you think it is worth. It is one of a kind, and is to your client too. Don’ t be afraid to charge what your worth. Works for me.
Robert: What profit margin do you want to have? Typical PM is 30-50%. So if you want a 30% profit margin, and your cost is $100, take the $100/.7 to get the price to the customer. Personally my time and artistic work is what I really charge for and then moderately charge for prints.
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