HOW TO PRICE YOUR ARTWORK
In this episode of the Design Tribe podcast, I'm chatting with Ilana and Katie from Loomier about pricing your work as an illustrator, surface pattern designer, or hand-lettering artist.
The surface pattern design industry can be opaque especially around pricing and especially if you're new to the industry. Thankfully, more and more artists are sharing their knowledge about how to price your designs, what you should be charging clients, what kinds of royalties are normal for art licensing, and how to uplift the industry standards for pricing so that all artists can make a decent salary and the living they deserve! :)
WATCH THE YOUTUBE VIDEO
PRICING YOUR ARTWORK w/ Loomier artists, Ilana & Katie
QUESTIONS WE DISCUSS:
Tell us a little about your background and how you became an artist.
Why do you think that pricing is soo difficult for surface pattern designers, illustrators, and independent artists?
Let's discuss freelance jobs and coming up with an hourly rate vs charging a project fee or a day rate.
Let me be transparent with how I came up with my hourly rate. When I worked as an in-house Textile Designer, I earned $75k per year. In Atlanta, that's a pretty good salary for a Textile Designer. Of course, when you're independent you pay your own taxes, your own health insurance, and business expenses. I adjusted for that by paying myself $100k per year and came up with the hourly rate of $50 per hour.
I took an IG poll in my Stories and 76% of people told me that I was charging too low. I want to be transparent about this, because I'm sure soo many designers find themselves in this boat. What's your opinion on how to come up with a good hourly rate?
Lots of designers DM-ed me saying I should be charging anywhere from $60 - $120 per hour.
We also discussed pricing Buy-Outs and there was definitely a range of answers!
Artists responded with anything from $750 - $2,000 if you are selling the copyright. Sometimes $500 for a simple, 2 color geo. Does that sound right to you?
How do you feel about experienced artists saying that beginner artists are devaluing the industry? Do you agree with that? Or does it seem a little harsh towards newbies who have no idea what to charge?
What would you say to designers who are scared to charge a high rate?
Artists often feel the pressure of "getting big" on social media as a way to measure success. Do you think that the number of followers plays into how much artists are willing to charge? And do artists feel like they have to hit certain metrics, like 20k Instagram followers, before being able to charge the rates we discussed?
What's your opinion on diversifying your income as an artist? Some people seem to think that having many income streams is the way to go, while others give the advice to niche down and focus on one thing.
Do you think that independent artists need to strike a balance between active income and passive income?
What's your opinion on selling your artwork on stock sites like Patternbank or Creative Market?
While we're on the subject of income, how do you feel about the option to work with an agent? Most agents take about 50% and I know that even though agents do a lot of work, artists struggle with parting with half of their income. How does a designer know when an agent is taking too much vs what the industry standard is?
Do you think that systemic sexism plays a role in how much female artists earn? If yes, how can we all work together to close the gap?
GET THE PRICING GUIDE!
Pricing With Purpose* is an extensive course designed to teach you all about pricing your artwork.
Taught by Loomier’s Katie & Ilana.
Sign up below!
*Contains affiliate links.
