There's so much I could say about this, but here are just a few quick and simple tips & suggestions. Personally, I use the square footage method as a general base and starting point. I then factor in a number of variables, including estimated costs of crating, shipping, and insurance. At this stage of my career, for the square footage aspect, I generally use $300 per square foot on the low end. Some of my larger, specialty, and marquee works I bump closer to $500-$1,000 per square foot. Again, these are just rules and sometimes rules are meant to be broken, particularly by artists.
A few things to consider:
-What are your production costs (materials etc.)
-Do you have shipping costs
-Are you trying to sell based on volume (a lot of work) or value (perhaps less work)
-Are you only selling direct or do you work with galleries (generally take 50% commission)
-Who is your target market
A few things you could look at for reference are other artists with:
-Similar style
-Similar experience
-Similar sizes
*This does not mean you have to do what they do
Ultimately, pricing comes down to what you decide. You, and you alone, decide your value. If you try something and it doesn't work, don't be afraid to change it. Don't get too hung up on the numbers. You just have to start somewhere, and can adjust as you need to along this wild and crazy journey.
A few more things to remember and consider:
-There's a psychology to numbers and sales
-Sometimes higher prices convey a sense of value
-You can change your pricing
-It's much easier to lower prices or discount than to drastically increase, so consider starting a little on the higher side if in doubt
I know there are some charts you can Google with suggestions for range on square inch and square foot price based on experience. The other common method is time/materials. What are your material costs and then add an hourly rate.
Again, these are just a couple quick and simple tips. There are a lot of variables that go into this, so the right method and the right numbers will vary artist to artist. Money is great, but it's not why most of us do this. Remember to enjoy the journey.
Don't forget to check out my shop for my shirts and so much more. Seeing as how we just talked about pricing art, go buy some!