Hi!
Someone recently bought one of my (23F, amateur) paintings from 2 years ago. 3x4ft. Since it was technically my first real sale (my first one was asked for by my mom to be created for a friend), I was unsure whether to lowball myself. I come from the Philippines so prices may seem lower than it should be in other countries.
That one I sold for about $550 to a colleague of my aunt's. It was computed based on size alone. square inches x 20 Pesos.
Another one of her colleagues found out and they said she wanted one for herself. My aunt keeps telling me how much richer that colleague is (she apparently owns a hospital). I'm not sure if I'm being unfair mainly because I found out about her background but I was thinking of a price increase for a commissioned painting of the same size.
I thought, since it was gonna be a specifically commissioned one AND it will be a new painting, does it deserve an increase?
Also, when I made that recently sold painting, I was practically "nothing" compared to what I've achieved recently. Back then, I have never received any distinctions and have only been a part of an exhibit once. Just this year, I was awarded a national semi-finalist in a prestigious competition and had my entry exhibited in one of the country's premier museums.
Now I'm thinking of raising my multiplier to 23 Pesos (would become $620, which is already a huge increase of 5,000 pesos in total for the same size imo).
Is this reasonable or am I being unfair because I know the client is going to pay well?