Although pricing your art is very subjective, we've made this guide to help get you started.
First, here is how our profit sharing works:
With Crated you get to set your markup. When you list a work we have a base price for each size and option, then you choose the amount (%) of markup that you prefer, this is the amount that determines your payment from each sale.
Crated runs on an 80/20 split of the profits with the artist. We produce the art at wholesale cost which is the base price of the item. You set the markup from that base price on each piece. When an item sells you (the artist) are paid 80% of that amount while Crated gets the remaining 20%.
Deciding on a markup:
Pricing your work is entirely up to you and can be done on a per-image basis. However, it goes without saying that lower prices generate more sales. Finding a balance between an affordable cost for the buyer and and a fair profit for you is key.
A couple things to consider are:
- How much time and effort went into making the image/art?
- Is the art exclusively sold on Crated?
If you have the art listed elsewhere, make sure that the price on Crated is comparable to its price on other platforms.
If you find that your art is getting a lot of comments, share, collects etc. but sales are still low, it's a good indication that your markup is too high and you should try lowering it slightly and seeing if it results in more sales.
Although you can change your markup at any point and as much as you want, try to keep your markup stable for the most part. This is so prospective buyers and previous customers see consistent prices should they return to your gallery.
Setting and changing markup on an item:
To change the markup on any item, click on the thumbnail tile of the desired art piece under the 'Art' tab in your dashboard.
Then in the item edit view, click on the blue text 'Change products and pricing for this piece'. A menu will drop down that allow you to set markup based on each product and add/remove products offered for that piece.
OR use the global pricing adjustment tool in your seller dashboard. If you would like to apply this markup all previously uploaded pieces as well make sure you select Update all existing art.