Investigating Artwork Pricing as A Challenge to Artists and The Way Out

This research investigated artwork pricing as a challenge to artists and the solutions to upcoming artists. It employed descriptive research design with population of study comprising art students pursuing NCE and Degree programmes in Adeyemi Federal University of Education, Ondo, Nigeria. A random sampling technique was used to select participants. A self-structured questionnaire was used to elicit information on the research questions. Data was collected online with the aid of a Google form and analyzed using descriptive statistics of frequency and percentage. Findings show that external factors and pricing based on sentiment are challenges to pricing art works; factors that constitute difficulty in setting prices are: cost of materials, external factors, and galleries, collectors and buyers; also, the impact of not being able to generate consistent income came first followed by the ability to plan for the future or sustain art practice and limit on opportunities for career growth; furthermore, solutions include mentorship/advice, Online platforms and social media for promoting artwork, and financial support and resources. The study recommends that upcoming artists should leverage on mentorship/advice and engage in using social media platforms in order to keep abreast of the market and overcome pricing challenges.