Sketchpad, Uncategorized

How Do I Decide on Artfinder’s New Payment Plans

I sold two pieces of work via Artfinder last month and am finding that I am getting quite a bit on interest through this platform. It is working for me. I have tried a couple of others but there has been no interest so far.

As of last month, Artfinder has changed its terms and conditions. In order to keep the rather high commission rate of 33%, you now have to subscribe to one of their monthly payment packages. I would imagine that a person who is an excellent Mathematician would be able to tell you what your paintings should be on sale for in order to work out which plan is best.

I am certainly pleased that lots of existing artists managed to convince Artfinder to maintain unlimited listings, and a number of other important functions, for existing artists who are on the starter plan. The situation is not so rosy for new artists joining. If you go for the starter plan, you will not pay a monthly fee, but lose 40% of your price. The next plan up costs £4 per month and keeps commission at 33%.

So for me, with my recent drawing that sold for £30 , if I sold it now, I would lose £12 on the starter plan, but £9.90 on the first monthly payment plan option. However, it would have cost me £4 for that month so I actually lose £13.90. Oh, and they then add on their 20% VAT …another £1.98 out of Lilith’s purse. So, starter plan, I lose £12 commission and £2.40 VAT = £14.40 which is £15.60 “profit” (I won’t go into my personal expenses, materials costs, time etc). On the starter plan, I lose £9.90 commission and £1.98 VAT and £4 monthly fee = £15.88 which is £14.12 profit.

If I sold nothing all year, I would be £48 down on the first payment plan. I don’t really see  a great benefit to any of the payment plans for any level of artist.

http://www.artfinder.com/marketing/artwork/a-fool-for-your-stockings-3c66/?scheme=dark&user_id=1411808&size=large

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