The cost of artwork depends on many factors. The older the era in which the painting was created, the higher the price for it. Contemporary artists can sell their canvases for a large sum only if their name is well known in narrow circles of art lovers.
If you are putting up your work for sale, its value will largely depend on the degree of your popularity, on your position in the domestic and foreign art market. If your name is often mentioned in the media, you are known in narrow circles of connoisseurs of painting, often hold your own exhibitions, the price of your paintings will be maximum.
The price of paintings by an unknown master who is not exhibited at international exhibitions will be minimal and is largely determined by the standard of living in the country where the exhibition is taking place. There are still very few collectors in Russia who are ready to pay any money for works of art that will bring royalties in the future. The consumer market for painting demand depends on how much a particular buyer is willing to pay when purchasing a painting to decorate his own interior or as a gift to friends, relatives or acquaintances.
You can name any price for your painting, but at the same time it is completely unknown whether it will be in demand or will remain in the gallery, where an exhibition of unknown artists is taking place. Therefore, the amount will be given to you by the organizers of the exhibition, who are well aware of the prices on the art market. Your right to agree to the offer or refuse, leaving the picture to yourself until better times.
An important factor in the appraised value of the picture is the plot, which is depicted, the quality of its execution, design. But this is also not a decisive moment.
There are many authors whose works cannot yet be called rare, but at the same time their cost is incredibly high and the demand for paintings is huge. This is due to the fact that huge amounts of money have been invested in the "promotion" of the artist so that his name sounded in the media, was written in large print on posters advertising foreign exhibitions.