liftedspirit
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 p.3 #10 · How To Price Your Fine Art Photography | |
What is art or fine art...I won't speak to that. It's all subjective nonsense.
I will say on the terms of pricing your work, there are two general ways to see it - they were mentioned previously. High margin, low amount of sale or low margin, high amount of sales. If you're looking at pricing, you have to determine which of those you want. Generally the first is considered more along the lines of "fine art" and I'd argue it demands high-quality materials, archival level paper, inks, mats, etc. The second does not necessarily require that, though it can certainly be done if that's your thing.
Consider branding - what do you think if you buy a print for $30. Now what do you think when you buy the same print for $149. What if it were $999? You likely have a different perspective on the piece and the artist. Where do you want to be in terms of this perspective art buyers may have? What happens if you charge $999 and the print fades in two years?
Will you be producing open editions, editioned (if you want to get into museums and some galleries, this is the way to go) or both?
Answering these questions before event attempting to set a price, will help you down the line. Once you have these answers, you may be able to better set costs. I've been told to include the cost of the hikes I do, camera equipment, etc. when I come up with my price - I've not bothered to do so at this point. But I do factor in print cost, matting/mounting, (if necessary) framing, (if necessary) my labor in post processing, etc. I offer a couple of my pieces as editions, but primarily offer open editions. Once I have my costs, I determine a profit margin I want to get at a bare minimum, accounting for another 10% or so wiggle room to negotiate if absolutely necessary. And this is my wholesale price - the price I'd charge an art consultant, store or gallery for my work, assuming they'll turn around and sell it for twice that. (fairly standard) In a gallery, if the gallery isn't buying the piece before-hand, I'll offer my work at double my wholesale price to account for the gallery commission. Never, ever offer your work for sale for cheaper than a gallery you have your work in. It's the best way to bite the hand that feeds you and the gallery community is a small, tight group.
If you'll only be selling online, you can concentrate more on the wholesale price above, or make it a bit higher. Factor in other photographers who fit the criteria in the answers to your questions above, and photographers that are at your talent and success level in your area to try to come to a price that's competitive with them. If you're too far under their price, you'll be seen as less of an artist - which may or may not matter to you. If you're too far over their price, you'll likely be keeping your sales lower. As time goes on, increase the price for your more popular items and adjust the prices to meet the old supply / demand curve.
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