The cost of concept art should be calculated based on the time required to create one asset and should take into account the following factors:
- asset type (character, environment, illustration, transport, or other object);
- graphic style in which the asset must be completed (cartoon, some type of stylization, semi-realistic, realistic, and others);
- intended purpose of the asset and its size in the project;
- number of options and iterations that need be completed;
- additional individual requirements.
Taking these details into account, the working time for completing one asset is formed. Also, knowing the details for all assets, the total time of work on concept art is formed.
Each concept art studio and freelancer estimates working hours in their own way based on possible resources, skills and features of the work. In addition, each performer has their own hourly rate for this type of work. Thus, knowing the estimate of working time and the hourly rate of the performer, the cost of work on creating concept art is formed.