A reasonable and effective art pricing model is of great significance to the regulation and development of the artwork market. Artwork pricing needs to consider not only the economic value of the artwork itself but also the problem of price confusion of the art value of artwork as a special commodity. The establishment of an evaluation index system is the focus of this study. Therefore, when artwork pricing decisions was discussed, Grey rational analysis was mainly used to explore the key considerations of artwork pricing decisions, and the GM(1,N) model was adopted to establish artwork pricing decision model for with application illustrations. The findings of this study can provide a reference for the measurement, estimation, and positioning of artwork prices by participants in the artwork market, including artists, art buyers, or art galleries.