What’s a $500 painting worth?
by SAMANTHA BENNETT
I was trying to talk one of my VIP clients into charging $500 + shipping for her painting.
She wrote back to me, “OMG, $500???? Really? They’re only 24″ X 24.
Now, I have no idea where this imaginary correlation between the size of the work and the price of the work came from. I think it’s kinda crazy.
By that yardstick, muralists should be millionaires.
Here would be some examples of my criteria for deciding if my painting were worth $500 —
1) Is this painting more inspiring and transformational than $500 of therapy?
2) Does this painting raise my spirits more than $500 worth of wine?
3) If I look at this painting twice a day for 10 years, will it give me six cents worth of joy each time (365×2=730 x 10 = 7300; 500/7300 = .068 : 4 4) 4)
4) How many compliments will I receive on this work once it’s hanging in my home or office? If I get one a week for ten years, is that worth a dime for every admiring remark?
5) $500 is one medium-sized car repair; it’s two haircut with highlights (at least in LA); it’s three or four college textbooks, it’s five nice-ish date nights out with the spouse… you see where I’m going with this?
It’s not about price, it’s about VALUE.
So….what’s the value your work brings?