I'm a fairly serious amateur photographer and have never thought of selling any of my work until recently (my day job is a dentist). However, since I started hanging large prints of some of my favorites at work, quite a few people have asked me how much it would be to purchase prints, and I've had to reply, "I don't know, I've never really had anyone ask me that before; I'll get back to you."
So is there some kind of "formula" that people use when setting prices for prints?
Does one create a "menu" for different sizes, different papers (fine art, canvas, whatever), framing/no-framing?
I'd like to make a "reasonable" profit from prints, but as an amateur, I don't have a clue what is "reasonable" to profit from a print. Mostly I would use the money to put towards new camera gear, as my wife wouldn't mind me spending more if it's at least paying for itself. :-)
Also, would I be better off just printing/framing a number of them and setting prices for those, or am I more likely to get more buyers by letting them choose the size/framing/paper based on a menu format?
Unfortunately 'it depends' is the answer...
It depends how badly you want to sell a print
It depends upon where you live (typical someone in NYC is accustomed to higher prices and has greater income than typical someone in Biloxi)
It depends upon how much it costs to make the print
Selling a framed print does not do as well as letting the buyer chose the frame and you putting in, but that also ups your time and costs. Choice of paper surface...partly depends upon whether you are doing landscapes, still lifes or portraits. what suits one does not necessary work as well for another type of photo
I would mat and frame some samples, perhaps one example of each size/format, and make up a portfolio book with the others for them to choose from. As far as print prices, I sell a double-matted framed 6-2/3 X 10 print for $100 and a 12 X 18 for $250, in Silicon Valley Calif. Your prices will vary by market.
Chas, thank you for those examples and the idea of the framed samples so they can see how they would actually look, and then a book to choose the pics they actually want.
Wilt, very good points, too. The dilemma I face is that my patients know I'm not a professional photographer, so I "think" they would be less likely to pay a high amount because I'm not an "artist/photographer" in a gallery, but I still want to charge enough that they value it. You know, sometimes when things are too cheap people don't want them because they're not "worth" anything. But when the price goes up, people think it must be worth it and so they want it.
Buyers' psychology.........like you said, "It depends."
FWIW, you can be a professional level photographer in quality and still derive your major income from other endeavors.
When I was a kid, my parents bought oil paintings from our dentist. He was a very good artist but his primary income was surely dentistry. He invited us to his home gallery for selection and purchase. This separated the dental office from the art business. Of course, his office was decorated with his paintings.
Yes, your cost basis is lower than someone who pays for gallery space or a commission on sales of their works. But that really means that you don't have rent to cover as a fixed overhead, it doesn't change the inherent value of your work! Keep that in mind, that the variable costs (per print processing, framing) change the floor where your pricing will be, but you have to value your work as a margin over costs. One can set margins higher on a higher cost item simply because they won't well as rapidly or as many, as something with a lower cost. A hamburger at Mickey D vs. a hamburger in a fine dining establishment!
Consider how you plan on selling them. If these are prints and you would sell hundreds of copies (if you could), the price will be much lower.
Unless you plan on doing this for a living, I would take the artsy approach. Set a limit on the number copies of a print you will sell (say 5). Then hang #1 on the wall (number 1 of 5) and sign it. Set the price as if it were art work, rather than standard prints. A 16x20 print might sell for $75-100, but a 16x20 limited edition, signed by the photographer, could sell for hundreds.
You might also consider printing them on canvas and charging even more.
Of course, my advice is based on the idea of making money. If that is not your intent, then just sell for your cost plus a few percent and sell away.
Some very interesting ideas and thoughts -- thank you also!
I definitely do not plan on doing it for a living, but hey -- who wouldn't like a little extra spending money, especially if it means the wife doesn't complain about $$ spent on more camera gear?
I am going to talk with my wife about these ideas, as she is quite business-savvy. However, as business is slow right now (yes, even dentists are being impacted significantly here), and as I can't really write the expenses off as part of my dental business, we'll have to pull from our discretionary income.
I like the idea of creating a limited # of prints; it does create more appeal, as people like the idea of owning something unique, rather than generic, when it comes to art and something that you'd use to decorate your home.
Definitely a little different way of thinking from how I set me fees for the dental treatments I provide.
Good question. Obviously the "price" will be base on artistic merit and the demand it generates (eco 101). It would be nice if that price could cover your costs. I have had the same questions - friends and business associates who would like a print. More often than not, I just give them one with an admonition to please not scan it or duplicate it in any way. Others have been sold off at charity auctions.
Obviously you have an understanding of all the cost elements that might be allocated to the final product in a business equation, so I suspect your question is really about the direct material cost of producing the print - ink, paper, and possibly a bit of printer depreciation.
Since I use an HP B9180, I went to HP's site and found average print yields that each color ink cartridge can be expected to produce before it's depleted. The cost for each sheet of paper is easy to determine. I couldn't find data on the print life span, i.e., how many prints before the printer wears out. However, since I don't produce very many prints, determining per print depreciation in that manner isn't relevant. (The printer duty cycle is 1000 prints per month - as if....) Adding a piece of printer life to the cost of each print would simply be a WAG in my case.
Anyway, took the HP data for starters and built a spread sheet to track my actual ink consumption both for printing and during the pinter's daily maintenance cycles. I'll be using that over time to refine the cost estimates. I can make a much better guess now about how much each print "costs."
Limiting the number you'll print is just a gimmick that is over used thinking that would increase the value of the print. This only works if you are an established, well known artist whos prints are in demand by collectors.
I say if people don't purchase the print for its merits, then they won't purchase the print because it is limited. Signing the print and adding a little note on the back describing what your vision of the image was would be much better than limiting the print.
Chip, just do us all a favor and don't sell them at material cost. Or, if you do, let me know when I can stop by and get some dental work done for material cost, too!
chez wrote:
Limiting the number you'll print is just a gimmick that is over used thinking that would increase the value of the print. This only works if you are an established, well known artist whos prints are in demand by collectors.
I say if people don't purchase the print for its merits, then they won't purchase the print because it is limited. Signing the print and adding a little note on the back describing what your vision of the image was would be much better than limiting the print.
Sounds like sour grapes. I think you are missing the key point here. He is well established, just not as an artist. His dentistry customers will buy based on that.
Put some 20x30s on the wall, number, and signed, and charge about $300 for them. If they don't sell, drop the price. Simple enough.
At this time, I definitely do not have plans to sell huge numbers of prints, although if the opportunity arose, of course I would consider it - who wouldn't?
I think I'm going to take Nathan's advice to start, and we'll see how things develop from there.
I had a lady in today who wanted to buy either 1 of 4, or the whole set of 4, flower pics that I have hanging on the wall.......too bad I didn't have the prices set yet! Damn, could have had my first sale today. At least she's coming back next week......I'll be ready by then.
Random question that just hit me: if the prints are done on canvas, fine art rag, or something similar, what is the best way to sign the prints? I don't want to get some great prints done and then screw them up by using something that runs, streaks, or whatever.
Nov 05, 2008 at 09:15 PM
Mark Metternich Offline • • • • • • Upload & Sell: On
I would do Limited Editions. Maybe start at something like 100? Then I would only do them big. The very smallest size being maybe 24 or 30 inches. The bigger the more powerful the impact. Also these are going to be advertising in peoples homes for decades to come. You want them to be centerpieces of key rooms, so when people walk into these homes they are drawn toward the image. Small images don't do this.
Don't ever sell them unframed. This is basically irresponsible when it comes to marketing. What if someone takes your gorgeous print and then puts it into a cheap plastic pink frame? Well, that would ruin the representation. Frame them as best as humanely possible. Figure out your costs and then figure out how much you want to profit on each edition. There are many factors to consider here. Often a base amount is 100% in retail. Maybe start a tad cheaper in profit margin at the beginning of the edition and then, say each 25 shots (of an edition of 100) bump up the price a bit. Once you get the the end of your edition, it is simple supply and demand. Don't give them away too cheap! This is often a big temptation. But this also CHEAPENS your work! You either have to market toward the quality, higher end route, or the cheaper more discounted route. Quality sells IMHO. If you don't skimp on any level in the quality department, people will definitely take notice and want your work.
Talk with you later Chip.
Good luck, and let me know if I can be of any help.
Mark
As far as signing. Id sign them with a gold pen very covertly in the bottom right corner of the image, or create an additional black boarder around the image and sign in that boarder so as not to intrude into the image. It should be signature then number... Chip Payet 1 of 100...
Thanks for the advice, Mark! It was a real pleasure talking with you the other night, and I'm still digesting everything.
I'll have to get to work convincing my wife on the framing costs, as well as get some estimates. A number of prints are currently being mounted to be ready for framing and will hopefully be ready in a couple weeks (slowdown for the holidays).
I'd really like to have several up and ready for sale in time for Christmas.
I suggest checking out some local coffee houses and galleries and seeing what local artists sell work for. In my area, a approximately 11x14 size of artwork in a 16x20 simple frame usually goes for $200~$350. Knowing what the market will bear will help you select an appropriately priced frame and print cost.
IMO, numbered limited editions are not worth it for photos unless you are an internationally renowned master.
