Wednesday, 6 July 2016
Pricing – working out the commission
This is something I have to get my head around every time I exhibit my work.
If I want to get $400 for my work and commission is 50%, the maths is simple:
400 + 200 (which is 50% of 400) = 600
I would actually get $300, not $400
There is a handy commission calculator on line. HERE is the link.
Unfortunately, it doesn't help with the opposite process.
How do I work out the price+ commission from the starting point being the nett amount I want to receive?
I'm afraid I don't have the simple answer.
The best I could find is a formula:
DP = Desired Price; C = commission
so in this case:
So if I want to get $400 and commission is 50%, the price needs to be $800.
Luckily, my gallery does not charge 50%