A method for preparing a pigment dispersion includes a) adding a pigment, a surfactant, and a solvent into a vessel, b) adding magnetic particles into the vessel; and c) applying a varying magnetic field to move the magnetic particles to mill down pigment particle size. A system for preparing a pigment dispersion includes a) a vessel for holding a solution comprising pigment particles, a surfactant and a solvent, b) magnetic particles added to the solution, c) a source for applying a varying magnetic field to move the magnetic particles to mill down pigment particle size, and d) a collector for collecting the magnetic particles for re-using at a later time.