What determines the price of your photos?
Jun 12, 2017 11:57:23 #
russelray wrote:
I value my time at $100/hour, so however many hours it takes me to do something multiplied by $100 is how much I charge. With that said, though, I have been making a significant amount of money from my photography for 10 years now, so I know pretty much how long it is going to take me to do something. Thus I can provide quotes. If it takes a little less, no problem. If it takes longer, no problem. It all evens out in the long run.
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Yes!
I do the same thing with my work.
Depending on the area where you are located, would have a bearing on sales. Saint Louis, Missouri is NOT the best area to sell photographic art - That is what I have found, as well as other Landscape Photographers I know have experienced. However.... The "wedding photographers" are doing well, but that is everywhere. I am NOT in that camp. Way too stressful for me....
Good Luck in your endeavors as a photographer who sells their work.
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Jun 12, 2017 14:01:47 #
T.H. wrote:
Hello everyone, I am curious of how to price my photos. I've taken into account of the cost of Photo media and ink, but how do I put a price tag on what the photo is worth? Do I go by how long it took me to get the photo, or what extent I went to for the shot? A few years ago I sold two photos for $800.00 Matted and framed. But that was an offer from the customer. I did not set the price. So if you sell your work, Please help me out with any suggestions on how to do this. Thank You.
Take into account the cost of paper, ink, mat, backer board, and frame then multiply the total by a reasonable factor. As far as costs for travel, you cannot expect to get that back until you are selling your work for high prices all the time!
Jun 12, 2017 14:35:20 #
I always like the old saying that says the value of a collectable is whatever you can find some fool willing to pay for it. ;-)
Jun 12, 2017 15:25:37 #
It depends on many things. Generally if you are selling singles you had better be at least 3 x cost or you are not going to make it as a business. Somewhere between 4 and 6 x cost is a basic rule of thumb and that depends on the customers style of living.
If you are into quantity selling, figure what the total will be, (per sale). You should be able go less and still make an overall profit of 3 to 6 percent.
If you're into custom quality artwork, that is completely variable but should not be less than 5 times cost. After a few years and the more popular you get, (I repeat..."YEARS"), the higher that percentage should go.
Remember too the term, "starving artists" so have a plan "B", maybe "C", "D", and so on.
If you are into quantity selling, figure what the total will be, (per sale). You should be able go less and still make an overall profit of 3 to 6 percent.
If you're into custom quality artwork, that is completely variable but should not be less than 5 times cost. After a few years and the more popular you get, (I repeat..."YEARS"), the higher that percentage should go.
Remember too the term, "starving artists" so have a plan "B", maybe "C", "D", and so on.
Jun 12, 2017 17:48:57 #
T.H. wrote:
Hello everyone, I am curious of how to price my photos. I've taken into account of the cost of Photo media and ink, but how do I put a price tag on what the photo is worth? Do I go by how long it took me to get the photo, or what extent I went to for the shot? A few years ago I sold two photos for $800.00 Matted and framed. But that was an offer from the customer. I did not set the price. So if you sell your work, Please help me out with any suggestions on how to do this. Thank You.
A friend of mine back in the late 80's or early 90's used a formula where he took the cost and doubled it, then doubled it again and then added on the cost. It sounds odd but it worked well for him and ha made a lot of sales. I guess it would allow you to have a 50% off sale and still make out OK.
Jun 12, 2017 18:21:12 #
jamesl wrote:
A friend of mine back in the late 80's or early 90's used a formula where he took the cost and doubled it, then doubled it again and then added on the cost. It sounds odd but it worked well for him and ha made a lot of sales. I guess it would allow you to have a 50% off sale and still make out OK.
In other words, his price was five times cost.
Jun 12, 2017 18:24:21 #
JuxtaposePictures
Loc: San Diego
jamesl wrote:
A friend of mine back in the late 80's or early 90's used a formula where he took the cost and doubled it, then doubled it again and then added on the cost. It sounds odd but it worked well for him and ha made a lot of sales. I guess it would allow you to have a 50% off sale and still make out OK.
Isn't that the same as just saying he charged 5 times his cost (or 500%)?
Jun 12, 2017 18:26:19 #
Photographer Jim wrote:
In other words, his price was five times cost.
Yes. I just liked the way he worded it.
Jun 12, 2017 18:32:16 #
Jun 12, 2017 19:44:29 #
Szalajj
Loc: Salem, NH
OddJobber wrote:
How regularly are you committed? Do they let you out at night or only on weekends?
Every Saturday, I have a regularly scheduled commitment that puts me on the road anywhere between 7:30 am to 9:30 am (before they open), and I don't get back until after they close at 2:30 most Saturdays.
They're closed on Sunday, and I work a regular 40+ hour a week job that's just over 20 miles south of here. I fight traffic on the way home, no matter what time I leave work, and they close at 5 during the week!
That Saturday commitment should only last a few more months, if all goes according to plan. But it's been going on for almost 2 years, and is dependant on another issue getting resolved first. So it's a waiting game right now with no definitive end date in sight yet.
Jun 12, 2017 19:45:34 #
T.H. wrote:
Hello everyone, I am curious of how to price my photos. I've taken into account of the cost of Photo media and ink, but how do I put a price tag on what the photo is worth? Do I go by how long it took me to get the photo, or what extent I went to for the shot? A few years ago I sold two photos for $800.00 Matted and framed. But that was an offer from the customer. I did not set the price. So if you sell your work, Please help me out with any suggestions on how to do this. Thank You.
Price it for what? And what are you selling? Are we talking portraits, art, postcards?
But I would suggest much of the advice of taking your cost and multiplying by X is the wrong way to do it.
When I sold framed and matted art photos, there sold in art galleries for $1500. Others have had their work sell for much more than that. If I am selling for commercial use - then I license it based on size, distribution, and length of license. If I am at a local farmer's market, then 4x6 postcards go for $5 they cost me about 1 cent because I have them printed on actual printing presses rather than a photo print. An 8x10 portrait for a client ranges from $375 to $675.
As you can see there are lots of variable
Jun 12, 2017 19:52:19 #
T.H. wrote:
Hello everyone, I am curious of how to price my photos. I've taken into account of the cost of Photo media and ink, but how do I put a price tag on what the photo is worth? Do I go by how long it took me to get the photo, or what extent I went to for the shot? A few years ago I sold two photos for $800.00 Matted and framed. But that was an offer from the customer. I did not set the price. So if you sell your work, Please help me out with any suggestions on how to do this. Thank You.
If you do portraits, Google Sarah Petty and get her marketing books!
Remember that cost and perceived value are two VERY different things. Don't short-change your unique work. There is a certain cachet that comes with selling (and owning) an expensive print.
Jun 12, 2017 19:56:49 #
James R wrote:
================== br br Yes! br br I do the sam... (show quote)
I have two Clients in St. Louis.
It's all about marketing, and I market directly to Realtors, loan agents, title agents, escrow agents, and real estate attorneys.
St. Louis has its share of all of those.
My two St. Louis Clients met me at NAR conventions.
Jun 12, 2017 20:14:42 #
dalematt wrote:
A few years ago, I looked into this. Most of my f... (show quote)
One half a camera? I hope you got the front half. The lens might be worth something.
Jun 12, 2017 20:51:24 #
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