Undersold a charcoal piece and only did the math when the frame came in
Sold a big charcoal piece for $400 three weeks ago. Was so excited someone wanted it I didn't think twice. Then the custom frame arrived yesterday, $280 with glass and shipping, and I just sat there staring at the invoice like an idiot. So net on that one is $120 for what took me about nine days of work, and that's before any studio rent or charcoal.
I keep doing this. I price from "will they say yes" instead of from what the work actually costs me. And the worst part is I'd already told everyone how happy I was to sell it, so now I'm just quietly wearing it.
Trying to actually write out my real numbers tonight. Hours, materials, the whole ugly math. If it comes out to $3 an hour again I might scream. Anyone else price from fear and regret it every single time?
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the frame being more than a third of the sale price is brutal. and yeah, the "will they say yes" math is how we all start, because the alternative is facing what the work actually costs and that's a harder number to look at.
nine days though. i did the same thing recently with a piece i spent two weeks on, sold it for what felt like a win, then sat down and worked it out per hour and almost didn't show my face in the studio for a week. it's not even the money, it's the feeling of having handed someone something you made and effectively paid them to take it.
the part about already telling everyone you were happy is the bit that stings the most. you can't un-say it, so you just live with the gap between the story and the truth. hopefully the next one gets priced with the invoice in mind, not the excitement.
Ah the per-hour math, sure that's a form of self-harm and we've all dabbled. I did the same with a linocut edition years ago, counted every hour carving the bastard block and then the printing and the paper and the ink, and by the end I'd have made more money minding sheep. The sheep wouldn't have looked at me the way that collector did though, so there's that.
The "already told everyone you're delighted" part is the killer, isn't it. You've painted yourself into the happy corner and now you can't even have a good moan about it without looking ungrateful. I remember selling a piece I'd under-priced something shocking, and the fella who bought it was so decent about it I nearly told him the real story, then thought no, sure you've made your bed, lie in it and smile.
The frame being a third of the sale though. Jaysus. That one's got to smart. You'd nearly frame the invoice and hang it beside the piece as a reminder for next time.