William Poynter:
Price Guidelines For Portraits
Due to the complex nature of assigning a dollar figure to a unique work of art, the following is meant to be a helpful list to give the client a general idea of pricing for portraits. These prices may vary based on the complexity and subject matter of the desired work (e.g., elaborate or detailed backgrounds). All prices listed are for unframed oil paintings on canvas which depict human figures. For an estimate on painting animals, i.e. pets, contact me.
Head and shoulders (24"x30" ave. size)
Half figure (Hands included)
Full figure up to 36" 
Full figure up to 42"
Full figure up to 48"
Full figure up to 54"
Full figure up to 60"
$1500
$2100
$2600*
$2800
$3000
$3200
$3400
*The rendering of a full figure usually implies a more detailed rendering of the setting or scene he/she is "standing" within, hence the price change here.
Group portraits are quoted on an individual basis because they are usually more involved. As a starting point though, a suggested price for a 24" x 30" (or approximate size) portrait of two figures, head and shoulders depicted with a simple background, would be: $2500.
Before beginning a project, I require an initial deposit which is generally 50% of the commission's price. If you wish to discuss a possible commission, you may proceed HERE to contact me.