Trying to get my arms around pricing, could you help

torags · December 9, 2008

I'm opening a Pro account and I haven't the faintest idea of how I should price.

Could someone look at the initial gallery I'm building and give me an idea?

In addition, could you comment on the number of images that have small nuances that purchasers may not see as different?

I really appreciate it

http://ragspix.smugmug.com/gallery/6556588_haSG3

Cygnus Studios · December 9, 2008

All of your galleries are locked. As far as pricing goes, well that has many factors. Are you talking simply of stock pictures or customer prints?
Are you pricing based on a package? Time + prints, time + additional prints, time + prints + additional prints?
You have so many options, that it is hard to just offer a simple guide. If the prints are available to whomever stumbles across them, like stock pics, the price can be higher.
If the pics are geared towards a limited customer base, the factors will be based on your clients needs and abilities.

torags · December 9, 2008

Thanks for the response.

The photos are not very PP'd and are stock photos, for general resale.

Jeeze I thought I unlocked my initial gallery, but didn't undo the password.

BTW, be frank in your opinions, thanks

http://ragspix.smugmug.com/gallery/6556588_haSG3

JohnBiggs · December 9, 2008

your prices seem to be default.

I wish I had advice for stock, but to me that seems hard to get into thanks to places like istock

torags · December 9, 2008

I didn't post prices yet. I was hoping to get some direction from here first after looking at the gallery.

rags

ChatKat · December 10, 2008

Pricing

torags wrote:

I didn't post prices yet. I was hoping to get some direction from here first after looking at the gallery.

rags

You can't just look at a price and make it fit. You have to know your cost of those prints, what the market is (yes, you have to research - this is a start but not complete) because each market is different.

You have to figure out the value of your equipment. How much did you pay for it and what value does it play in each image? For example let's say your camera cost you $1500 and you will replace it in 3 years. Your lens is $1000 and you will replace it in 5 years time. So you want to value your camera at $500 for a year and your lens maybe at $200 for the year. Roughtly $15 a week for your camera. If you use flash and your computer and memory add that to the gear cost.

And your time and experience has a price. You need to know how much money you need to pull from your business for a year to live.

Cost of running your business? Telephone, website, advertising, packaging, postage, insurance, tax preparation and accounting....

Now figure what you pay the lab for costs. Framing cost? How many images a year will you sell.

This is a starting Place. Take your time to do this.

torags · December 10, 2008

Hi Kathy...

Sounds like a rational way to approach it.

But in my experience you have to start with what that market is willing to pay for a similar product. The market doesn't care about your equipment costs, they just care about the competitive pricing.

My experience? I originated a cosmetic company with private label cosmetics, a real estate company, a wall decor company and a building business. That said, I never thought you could build a company on cookies, but Mrs Fields proved me wrong, so I guess I still have a lot to learn.

I'm searching for somebody who has sold photos on smugmug to give me direction on where to start my pricing.

I'm not going to earn a living from this, so my expectations are low.

Thanks for the suggestions tho'.

Rags

Snowgirl · December 10, 2008

torags wrote:

Hi Kathy...

Sounds like a rational way to approach it.

But in my experience you have to start with what that market is willing to pay for a similar product. The market doesn't care about your equipment costs, they just care about the competitive pricing.

My experience? I originated a cosmetic company with private label cosmetics, a real estate company, a wall decor company and a building business. That said, I never thought you could build a company on cookies, but Mrs Fields proved me wrong, so I guess I still have a lot to learn.

I'm searching for somebody who has sold photos on smugmug to give me direction on where to start my pricing.

I'm not going to earn a living from this, so my expectations are low.

Thanks for the suggestions tho'.

Rags

Kathy's absolutely right. If you want more info. pick up a copy of John Herrington's book "Best Business Practices for Photographers". Everything factors into the cost of a photo - and then there's the 'value' - what's it worth to me, the purchaser? s it a very unique image? Is it one that grabs me emotionally? Or, am I a graphic designer looking for an image for an ad campaign?

To sell inexpensively - set up an account on istock or something similar - if the technical quality of your work meets their specifications. Check out their photo guidelines for details.

Blaker · December 10, 2008

torags wrote:

I'm not going to earn a living from this, so my expectations are low.

Thanks for the suggestions tho'.

Rags

In that case, why bother going to all the trouble to sell them? Why not just give them away?

If you search on smugmug you will see a whole range of prices- some photogs make their photos available for download at high resolution for free, some sell with the microstock companies literally earning just pennies per photo, some hire agents to market their photos, and some photogs, those who earn a living from it, have priced their photo services in the way that Kathy has described. They have researched the market, found their niche, and calculated their "cost of doing business" for their particular situation.
There is no easy answer to this question, and the same price for goods may work for one person and not work for another.
So do your research, test the market in your area, and see what goes.

torags · December 10, 2008

Has any of the respondents sold pix on smugmug?

I'm simply asking for info of a statistical nature, not a business plan class. I realize you're willing to help with suggestions and I appreciate that.

I'll just go with what I have.

Thanks for your help.

Rags

Cygnus Studios · December 10, 2008

People buy my stock photos. I am sure that many fellow Smugmug users also sell stock pics. In order to sell stock photos, you either have to market your site very well, have specific clients go to your site, or sell on the hundreds of stock photo websites.
Now, on the larger stock sites, you will be competing with millions of other people, and the odds of you selling pics are pretty slim. It happens, and some people make a darn good living with this approach. Keywords are king.
The next approach is to build your site, market it like crazy and have pictures that people like.
There is NO set price. There is NO set market. I routinely sell images to people in Europe. For the life of me, I don't know why these people in Europe have taken a liking to my pics, but I am not complaining. Their money is just as green as everyone elses.

You and your eventual customers are the only ones that can/will decide what your prices are.

I could easily tell you that you should start at $40 for a 4X6 image and work your way up from there. Just as easily as I could say start at 50 cents. Both are correct, and both are wrong.

Once you get a couple thousand people a day browsing your website, your price structure will become clear. If you are not selling photos, either you have the wrong pictures or your prices are too high.

I would highly suggest that you start on the low end and raise prices. It is far easier to justify raising your prices than to lower them.

I know that you are not getting the answer you want, but there is no one that can give you an exact starting point.

Blaker · December 10, 2008

torags wrote:

Has any of the respondents sold pix on smugmug?

I'm simply asking for info of a statistical nature, not a business plan class. I realize you're willing to help with suggestions and I appreciate that.

I'll just go with what I have.

Thanks for your help.

Rags

CHeck out these fine art galleries on smugmug, hit the buy button, and you will see the prices.
Again , no one here can tell you what to charge. You need to do your own research and price according to what you are comfortable with.
Since you are not doing this to earn a living, you have a lot of leeway in what you want to charge.

http://www.smugmug.com/search/index.mg?searchType=global&searchWords=fine%20art#galleries

JohnBiggs · December 10, 2008

torags wrote:

I didn't post prices yet. I was hoping to get some direction from here first after looking at the gallery.

rags

Torags. Yes I've sold photos but they are for a different purpose than stock. You can't just go based on who has sold what, there are too many factors including reputation, marketing, and geography.

And while I realise you haven't posted a price list, what I was saying is your products are for sale. I can go buy your pictures right now for next to nothing. The worse part is I believe smugmug doesn't show you any sales of products at default prices.

You seem to be pushing back on every suggestion. The basic answer is there is no one answer to your question, but if you follow the suggestions you can come to prices right for you.

Blaker · December 10, 2008

JohnBiggs wrote:

Torags. Yes I've sold photos but they are for a different purpose than stock. You can't just go based on who has sold what, there are too many factors including reputation, marketing, and geography.

And while I realise you haven't posted a price list, what I was saying is your products are for sale. I can go buy your pictures right now for next to nothing. The worse part is I believe smugmug doesn't show you any sales of products at default prices.

You seem to be pushing back on every suggestion. The basic answer is there is no one answer to your question, but if you follow the suggestions you can come to prices right for you.

Actually you can download the OP's photos at hi resolution for free, and then print them out yourself or upload them to any photo printing place, since he has Original Size available on his photos.

torags · December 10, 2008

Blaker wrote:

Actually you can download the OP's photos at hi resolution for free, and then print them out yourself or upload them to any photo printing place, since he has Original Size available on his photos.

With watermarks?

Thanks for the link to the fine arts page.

Rags

JohnBiggs · December 10, 2008

Blaker wrote:

Actually you can download the OP's photos at hi resolution for free, and then print them out yourself or upload them to any photo printing place, since he has Original Size available on his photos.

I didn't notice the original sizes were there too. I don't want his pictures but he should get this straightened out.

davidweaver · December 10, 2008

Hey Torags,

you double posted this question. i responded here:
http://www.dgrin.com/showthread.php?t=113508

torags · December 10, 2008

Hi David, thanks for the heads up. Doc, a help hero suggested I post in this thread when I didn't get responses on the other one.

Thanks John & Blaker for the tip on original size (I changed that).

Rags

Trying to get my arms around pricing, could you help

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