How do I price my art in South Africa?
(Hourly Wage × Hours Spent) + Cost of Materials
This is a good formula to follow if you're just starting out. It takes into account the time you spent on a work, as well as material costs. It's also a formula that could work for artists regardless of medium or discipline.
(Hourly Wage × Hours Spent) + Cost of Materials
This is a good formula to follow if you're just starting out. It takes into account the time you spent on a work, as well as material costs. It's also a formula that could work for artists regardless of medium or discipline.
- recording the painting's provenance.
- getting the painting appraised.
- resources for requesting painting valuations.
- selling to an auction house.
- approaching South African galleries.
Consider finding an appraiser to determine the value of your artwork. Appraisers are trained specialists who work for a fee. They evaluate your piece and give you a written statement of its value.
If the name is not clear you may need to use a professional dealer or auction house to attribute the artwork. If you suspect that your picture is valuable, take it to a specialist fine art auctioneer, such as Bonham's, Christie's or Sotheby's.
The US Dept. of Labor lists the average hourly wage for a fine artist as $24.58—use this to help you estimate. Your price should reflect the money and time you put into creating your art.
Assets for personal use held by natural persons as opposed to other juristic persons, are excluded from capital gains tax, which means that South African art- and antique-lovers can happily expand their personal collections without worrying about tax interfering with their enjoyment of these collectibles.
South African Art Top Works:
San Bushmen Rock Paintings – Drakensberg Mountains. Elephants Charging over Quartos Country – Thomas Baines. An Extensive View of Farmlands – JH Pierneef.
Irma Stern is currently the most valuable South African artist. Her work fetches up to R30m per painting, with an average price of around R5m. Works by Maggie Laubser currently fetch up to R5m per painting. The average price for her work is around R600 000.
BidtoArt is the premier source of information on the art market, with a comprehensive database of art prices containing millions of artists' auction art results, antiques and collectibles, and artworks.
Is there an app to appraise art?
Since the 1st of July, TAJAN released on valuation art market a new (and the first) mobile art valuations app. It allows the users to be in direct touch with an expert and specialist team to value quickly and freely their goods and artworks.
An artwork's provenance, the documented history of who it has belonged to, is a huge determining factor in its value. For example, if a painting was once owned by a celebrity, a prominent collector, or perhaps a respected gallery, it will certainly attract higher offers when put on sale.
So, if a piece took you 10 hours to make, you want to get $15 per hour, and the materials cost you $45, you could use $195 as your starting point (10 times 15, plus 45). Cost of materials would include your canvas, paper, paint, ink, and so forth.
Here are a few good rates to start off with: Beginner freelance designer (<1 year - 3 years): $20 - $35 / hour. Intermediate freelance designer (3 years - 5 years): $35 - $50 / hour. Advanced freelancer (5+ years): $50 - $150 / hour.
Generally, it's a good idea to price your products at 2x-4x, if not more, the material costs. So if you're able to sell your print at $10, great! But you're seeing other people sell a similar print for $15, you can decide how you want to price yours.
South Africa has a residence-based tax system, which means residents are, subject to certain exclusions, taxed on their worldwide income, irrespective of where their income was earned. By contrast, non-residents are taxed on their income from a South African source.
| Taxable Income (R) | Rate of Tax (R) |
|---|---|
| 1 – 91 250 | 0% of taxable income |
| 91 251 – 365 000 | 7% of taxable income above 91 250 |
| 365 001 – 550 000 | 19 163 + 21% of taxable income above 365 000 |
| 550 001 and above | 58 013 + 27% of the amount above 550 000 |
- Exports.
- 19 basic food items.
- Illuminating paraffin.
- Goods which are subject to the fuel levy (petrol and diesel)
- International transport services.
- Farming inputs.
- Sales of going concerns, and.
- Certain grants by government.
According to a study by Corrigall & Co - a South African-based art research consultancy - Cape Town is the leader when it comes to the continent's art scene.
While sculptures and masks are arguably the most widely recognized types of African art, textile design and manufacturing have also been an important aspect of art-making throughout the continent's history.
What is the most common art in Africa?
Because wood is a very common material, wood sculptures make up the majority of African art. Jewelry is a popular art form and is used to indicate rank, affiliation with a group, or purely aesthetics.
In 2023, an Irma Stern painting, Children Reading the Koran, set a record for an African artwork sold at auction on the African continent. It went under the hammer for R22. 3 million. As of 2019, Irma Stern is the most valuable South African artist.
Averagely, he charges R65k per gig. Do your maths and come back. Shebeshxt is the most booked artist in South Africa followed by Skomota & Alostro.
The Halls online valuation service is an excellent starting point to obtain an initial estimate of your artwork's value. Simple instructions for using Halls online fine art valuation service: Take clear photos of your artwork.
Artnet's Price Database is the world's most comprehensive record of art sales, with over 17 million auction results for fine art, design, and decorative artworks. Every piece of data we hold is verified by experts. That's why world-famous art institutions and auction houses put their faith in us, every single day.
References
- https://samsoriginalart.com/blogs/general/what-makes-art-valuable
- https://www.treasury.gov.za/comm_media/presentations/Zero-rated%20and%20exempt%20supplies.pps
- https://www.theartist.me/art-movement/south-african-art/
- https://www.artworkarchive.com/blog/dos-and-don-ts-of-pricing-your-artwork
- https://www.fineart.co.uk/faq/how-can-i-value-my-print-or-picture-39.aspx
- https://bidtoart.com/
- https://americanart.si.edu/research/my-art/object-worth
- https://www.news24.com/news24/cape-town-vs-joburg-which-is-africas-art-capital-20200205-2
- https://quickbooks.intuit.com/za/tax-brackets-and-tax-tables/
- https://www.tajan.com/en/innovation-faites-estimer-vos-oeuvres-sur-votre-mobile/
- https://fineart.hallsgb.com/online-valuation-form/
- https://creativehiveco.com/how-to-price-art-prints/
- https://www.artnet.com/price-database/
- https://twitter.com/AdvoBarryRoux/status/1732454395445735595
- https://www.thesait.org.za/news/132393/Enjoyment-Versus-Profit-is-the-Key-to-Being-a-Collector.htm
- https://www.theartleague.org/blog/2016/05/20/how-to-price-your-artwork-a-beginners-guide/
- https://www.wix.com/blog/freelance-graphic-design-rates
- https://www.lamna.co.za/blog/how-to-sell-a-valuable-painting-in-south-africa/
- https://en.wikipedia.org/wiki/African_art
- https://www.magazine.artconnect.com/resources/how-to-price-your-art
- https://www.news24.com/fin24/money/investments/investment-here-are-the-top-selling-sa-artists-20180410
- https://www.lamna.co.za/blog/south-africas-highest-valued-artists-in-2023/
- https://www.theartstory.org/movement/african-art/
- https://www.sars.gov.za/individuals/tax-during-all-life-stages-and-events/tax-and-non-residents/
