How do you price paintings?

[syk]

When I do commissioned works I usually set the price over the factors time spent, size, how close the customer is to me, can I use the stencils again. This results in a price range between 50 and 200€ per piece. I am looking for something more objective to set a price. Like art galleries apparently have formulas like "width x height x artist factor", with my artist factor likely being <1.
Does anyone have an idea?

[The Brain]

Research what the market will bear.

[syk]

Research what the market will bear.

How do I do that?

[The Brain]

Research what the market will bear.

How do I do that?

I don't know, you're the businessman.

[The Brain]

You always begin at the end. How much will the customer pay? Your costs are irrelevant at the pricing stage (simplified of course, if the customer knows much about your costs he will factor what he knows into what he will want to pay without feeling ripped off).

[Grey Fox]

20$ a gallon.

[syk]

Hrm. How much will the customer pay, that's the question.

[Admiral Yi]

Go to a gallery and see how much comparable work by unknown artists is going for.

[The Brain]

Unknown?

[syk]

Unknown?

Good prompt: you can work on my "unknown" and like my facebook page.

[The Brain]

Serious question: have you thought about a publicity stunt? What's your marketing plan?

[Eddie Teach]

Unknown?

How many living visual artists can you name? 

[The Brain]

Unknown?

How many living visual artists can you name? 

syk.
That guy who does that wall painting shit.

[syk]

Serious question: have you thought about a publicity stunt? What's your marketing plan?

I don't have one. It's more of a hobby thing that's developing well. I only started making these paintings about 2.5 years ago. Gave paintings away as birthday presents and such. After not even a year the first people asked if I could paint something for them. So from time to time I do commissions. Last year I had the chance to show 3 pieces publicly in a cafe/gallery in my hometown during the exhibition of a local street art guy. 2 of them sold (for 40 and 100€). For the 3rd piece I set a price that made clear I want to keep it. I had a bunch of stickers with my URL printed for that occasion. That's the only "marketing" I did so far. In August I will have a 4 week exhibition in said café.
As for publicity stunts I could possibly paint something in public. A bigger piece on someone else's wall.

[The Brain]

Serious question: have you thought about a publicity stunt? What's your marketing plan?

I don't have one. It's more of a hobby thing that's developing well. I only started making these paintings about 2.5 years ago. Gave paintings away as birthday presents and such. After not even a year the first people asked if I could paint something for them. So from time to time I do commissions. Last year I had the chance to show 3 pieces publicly in a cafe/gallery in my hometown during the exhibition of a local street art guy. 2 of them sold (for 40 and 100€). For the 3rd piece I set a price that made clear I want to keep it. I had a bunch of stickers with my URL printed for that occasion. That's the only "marketing" I did so far. In August I will have a 4 week exhibition in said café.
As for publicity stunts I could possibly paint something in public. A bigger piece on someone else's wall.

Cool.