A question for the artists - LOTS of money involved

[excane]

Let me direct your attention to this thread and one of my paintings:

The Fine Art Thread - Post your own paintings, drawings, etc. PHOTOS INSIDE!

I just got back from a meeting with a somewhat well-known art dealer in Manhattan with this portrait that I brought to show him. The meeting had been arranged by a friend and the most I was expecting to get out of it was networking/connections...

The guy looked at it for about 15 minutes and took out $10,000 cash and held it in front of my face. I was dumbfounded to say the least. After my jaw closed again, I politely said I couldn't accept it for sentimental reasons, as this painting will always stay with me.

He offered me a deal.... to paint HIS portrait and let him know how much I wanted for it. I am shocked. The most I have ever sold a painting for was $1500.

A full figure portrait will take me 3-6 months to complete...what would you charge?

[armywalaby]

$50,000.

[MakiSupaStar]

I would have taken the money.

[username n/a]

70 zillion

[iamlowsound]

Originally Posted by MakiSupaStar

I would have taken the money.

I would have gone and made a photocopy then taken the money. If he wanted to give you $10,000 for the one you have done already, I would charge him a little more than that for one that is commissioned.

lowsound

[mike_v_s]

Originally Posted by excane

Let me direct your attention to this thread and one of my paintings:

The Fine Art Thread - Post your own paintings, drawings, etc. PHOTOS INSIDE!

I just got back from a meeting with a somewhat well-known art dealer in Manhattan with this portrait that I brought to show him. The meeting had been arranged by a friend and the most I was expecting to get out of it was networking/connections...

The guy looked at it for about 15 minutes and took out $10,000 cash and held it in front of my face. I was dumbfounded to say the least. After my jaw closed again, I politely said I couldn't accept it for sentimental reasons, as this painting will always stay with me.

He offered me a deal.... to paint HIS portrait and let him know how much I wanted for it. I am shocked. The most I have ever sold a painting for was $1500.

A full figure portrait will take me 3-6 months to complete...what would you charge?

Ouch, wrong question. I'm an embittered former art major who feels his true potential and 2-d creativity were choked out by an overzealous professor with no vision who like to play favorites (besides the fact that we got a male DUDE the whole semester I did life drawing).

If I were you, I'd start at the cost of my college education. Then I'd add in the "pain in the ass reimbursement" of having to paint something that I didn't want to and then charge for all the enjoyment lost for NOT being able to paint the things that I DID want to. After that, add in the cost of your incidentals and give him a figure you can be proud of.

Mike

[excane]

Originally Posted by mike_v_s

Then I'd add in the "pain in the ass reimbursement" of having to paint something that I didn't want to and then charge for all the enjoyment lost for NOT being able to paint the things that I DID want to. Mike

The thing is, I do enjoy painting portraits....just never been paid to do a commissioned portrait.

[EagleMoon]

So what did you tell him? That you'd think about it or what? Sounds like the guy has a lot of money so I wouldn't feel too guilty about asking some outrageous amount. He may just say yes.

[excane]

Yes, I told him I'd get back to him with a number. I think I'm definitely going to do it, just still recovering from the shock of it all

[NJL]

dude, in these economic times... DO IT. and then when you get a referral from him, DO ANOTHER ONE.

[Deluge Of Sound]

Obviously you should do it.

[excane]

I definitely plan to

[NJL]

good for you! as well, it's perfectly ok to make your talent into a good business...

[hover]

Yeah, be proud of your work and humbled someone thinks that much of it, for sure. It's really cool that he thought that highly of your work so quickly. He might want in on the ground floor of something potentially "big"...ya know? It is a really good painting...you're onto something there, nicely done.

[Son of Sanford]

I am no artist, but I am guessing that you should start at the 10K mark and then add some in for the "time served". Congrats.

[OxJohnson]

For your work and what he offered... 15K seems like a good jumping off point, or probably 20k.

For my work... 50 bucks should cover it.

Ox.

[excane]

Originally Posted by hover

Yeah, be proud of your work and humbled someone thinks that much of it, for sure. It's really cool that he thought that highly of your work so quickly. He might want in on the ground floor of something potentially "big"...ya know? It is a really good painting...you're onto something there, nicely done.

Originally Posted by Son of Sanford

I am no artist, but I am guessing that you should start at the 10K mark and then add some in for the "time served". Congrats.

Originally Posted by OxJohnson

For your work and what he offered... 15K seems like a good jumping off point, or probably 20k.

For my work... 50 bucks should cover it.

Ox.

Thanks

I'll probably give him a price between 15-20K keeping in mind that a full length portrait is going to be much larger than that painting - more time, more materials, more arduous scrutinizing over my own work.

[JimB52]

Was it Ivan Karp?
It's nice to get recognition.
One more vote for $15,000 +

[L-A]

If he gives you all the time you need, 15,000 sounds good. The more he rushes you, the more you add to this.

[excane]

Originally Posted by JimB52

Was it Ivan Karp?
It's nice to get recognition.
One more vote for $15,000 +

Nope.