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This has worked in the past with other new artists who had a problem charging enough. Figure out how much you would want to make/should make if you were working as an artist full time on an annual basis. Divide that by 50 weeks and that by 40 hours and you have an hourly rate for your work. Figure out the TOTAL hours spend creating the work of art (including premilinary sketches and mental work). Multipule that by the hourly rate. Add to that the cost of materials plus 50% and total it up and you have the wholesale price. Times it again times two to account for the gallery/broker commission and you have the market value of the painting. If you sell it yourself, you get both the wholesale value and the brokers cut.
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