How to price products

SuzPhotos

In the online help for price lists, the example shows a 400% markup. That seems like a lot. I would like to know from successful SmugMug members what a common markup is.

Hikin' Mike

Not sure if I'm a "successful SmugMug member" (I do get sales), but my markup is between 300% - 500% depending on the product. I only sell paper prints and wall art.

Cygnus Studios

There is no such thing as "common" when it comes to pricing. If the images are common (ie: same old same old subjects that everyone shoots) then it will be harder to charge more. If the images are sort of unique or less popular subjects, you may also have a harder time charging more as they are more niche. Now if they are stunning shots of popular subjects, then price isn't as much of a factor.

All that and more goes into pricing before you begin to answer the business side questions.

Then factor in where are you selling and how the market is around you for similar shots/sizes. If most prints are sold in galleries the prices will be a little higher than those who are trying to sell them online only.

Now our studio doesn't focus on print sales although we do offer them occasionally and sell quite a bit when we do, but we also live and work in an area where art is sold in galleries for the most part. Now we are commercial photographers and any prints we offer are an afterthought at best, but when we do offer print sales they are only 16x20 or 24x30 and they start at $525.00 and go up from there. I learned long ago too many choices equals less sales. Now that may not work for everyone else, so you'll need to figure out what works best for you.

Do not get caught up in what others are selling their work for. Prices range from 50cents all the way to millions of dollars for a single print, so trying to figure out what an average is based on some internet search or advice is only going to limit you in the long run.

My advice is to create a business plan and base your prices on that and that alone.

SuzPhotos

I was only asking a general question of other SmugMug members. I don't want to over or under price any of my products.

@Cygnus Studios said:
There is no such thing as "common" when it comes to pricing. If the images are common (ie: same old same old subjects that everyone shoots) then it will be harder to charge more. If the images are sort of unique or less popular subjects, you may also have a harder time charging more as they are more niche. Now if they are stunning shots of popular subjects, then price isn't as much of a factor.

All that and more goes into pricing before you begin to answer the business side questions.

Then factor in where are you selling and how the market is around you for similar shots/sizes. If most prints are sold in galleries the prices will be a little higher than those who are trying to sell them online only.

Now our studio doesn't focus on print sales although we do offer them occasionally and sell quite a bit when we do, but we also live and work in an area where art is sold in galleries for the most part. Now we are commercial photographers and any prints we offer are an afterthought at best, but when we do offer print sales they are only 16x20 or 24x30 and they start at $525.00 and go up from there. I learned long ago too many choices equals less sales. Now that may not work for everyone else, so you'll need to figure out what works best for you.

Do not get caught up in what others are selling their work for. Prices range from 50cents all the way to millions of dollars for a single print, so trying to figure out what an average is based on some internet search or advice is only going to limit you in the long run.

My advice is to create a business plan and base your prices on that and that alone.

SuzPhotos

That's way too much information even a second time. I just want input from SmugMug members on how they price their art. I can average it out after I get more information.

@SuzPhotos said:
I was only asking a general question of other SmugMug members. I don't want to over or under price any of my products.

@Cygnus Studios said:
There is no such thing as "common" when it comes to pricing. If the images are common (ie: same old same old subjects that everyone shoots) then it will be harder to charge more. If the images are sort of unique or less popular subjects, you may also have a harder time charging more as they are more niche. Now if they are stunning shots of popular subjects, then price isn't as much of a factor.

All that and more goes into pricing before you begin to answer the business side questions.

Then factor in where are you selling and how the market is around you for similar shots/sizes. If most prints are sold in galleries the prices will be a little higher than those who are trying to sell them online only.

Now our studio doesn't focus on print sales although we do offer them occasionally and sell quite a bit when we do, but we also live and work in an area where art is sold in galleries for the most part. Now we are commercial photographers and any prints we offer are an afterthought at best, but when we do offer print sales they are only 16x20 or 24x30 and they start at $525.00 and go up from there. I learned long ago too many choices equals less sales. Now that may not work for everyone else, so you'll need to figure out what works best for you.

Do not get caught up in what others are selling their work for. Prices range from 50cents all the way to millions of dollars for a single print, so trying to figure out what an average is based on some internet search or advice is only going to limit you in the long run.

My advice is to create a business plan and base your prices on that and that alone.