Tag: price

What should I charge for my pictures?

What should I charge

I get asked this question on a regular basis, so I thought it was time to put up my answer for all to see, to save me typing it each time. This type of information is hard to find as most photographers shy away from revealing anything about current market prices for images. I don’t agree with keeping such information so secret. After all, if a buyer wants an image from a photographer they are not taking business from us. In most cases we won’t have an image which fills the brief. I take the same approach to this as I do to location information and techniques, I like to share information and be helpful, not put up the barriers and protect my own little kingdom. I think the world is a much nicer place when people help each other. In fact, if the market price was better known then companies who buy images would be less able to pull the wool over photographers eyes about the value of their images. The information I do keep confidential relates more to contracts, licensing agreements and so on. But helping keen photographers get a fair price for an image is something I am happy to do.

The first thing to say in answer to this question is that there is no answer. Sorry. There is no ‘price’ that is fixed for images, there are just too many variables and in the end you will have to weigh all of the variables up and quote a figure. Ideally you want to gets  price which is fair to you and is set at a level where the potential customer places the order with you feeling they have got a fair deal too. What you are trying to avoid is being paid a pittance for an image from which the buyer profits hugely at your expense or, conversely, quoting a price which is higher than the buyer is prepared to pay and so you end up with nothing. So, beware. In the vast majority of cases, your image is not worth as much as you think it is. Sorry, but thats a fact. If you lose the sale you end up with nothing. We have to have in mind that usually a buyer can get a similar image from someone else. Few images are unique and most image buyers have an idea of what is ideal for their purpose but won’t pay over the odds for that image if another which is almost right is available at a fairer price. They don’t want to have to shop around because time is money for these people, they have found yours and it fits the bill, but if you want too much for it they will move on to someone else.

It is also vital to say these people work to very tight deadlines and won’t wait three days for you to answer an email or send them a file. they expect you to respond and quote within hours in most cases and to be able to ftp a file to them without hassle in the format they need. When it arrives they expect it to be free of dust spots with no chromatic aberration or over sharpening/saturation. Their standards are very high. If you can’t deliver the image as they need it  it is better to say so straight away. Also, don’t expect payment before you send the file, it almost never works that way. In fact, be prepared to wait several months for payment (welcome to the world of the pro-photographer!). Rarely will you get paid in less than three months and it could be longer. You also have to be prepared to trust the buyer. Our whole industry has to work on trust and you may get let down. We have to send our precious full resolution files off to companies we have never heard of and there is little chance of us ever being completely sure how they are being used. You may have been told  the images was going in to a company newsletter when in fact it is off to China and being printed onto a 100,000 T-Shirts or posters for sale. Happily, though, the vast majority of buyers are honest and only use the image as described and pay in full. You probably won’t get a contract for a single image sale. The only evidence you have of the transaction is the email correspondence. You may get a purchase order, but this is rare. However, in reality, what are you going to do if you don’t get paid. Take legal action? I doubt it. We can’t afford to and often the firm you have sold the image to is on the other side of the world. It is just impractical. We have to work on trust and it usually works out well.

So, what about price then? Firstly, you will get approached from time to time to give images for free. They will tell you that they ‘don’t have a budget’ for buying images for ‘this project’. They will tell you they will give you a credit to your website. They will tell you it will lead to ‘great exposure’ for your images. They will tell you they have other projects coming up and will be in touch to buy images for real money soon. They are lying. I only give my images for free to genuine charities. Other wise I ask them if they are getting paid? If they are getting paid, so should I. The ‘credit link’ to your website is valueless. They have no incentive to remember to do it. If they do put a link in, it will be feint and tiny. No one will notice it. (Ask yourself, how often have you noticed and followed a link beside an image in the press? And if you have, how often have you bought an image from that persons site? Exactly). They will not come back with paid work. You have shown you give images away so they may come back for another freebie but in most cases you will never hear from them again. I urge you, never give your images away for free.

The next type of approach comes often as a result of seeing an image of yours on Flickr. Companies have learned they can trawl Flickr and find great images made by keen photographers who will accept a lower rate than a pro who depends on image sales to pay his mortgage. Thats fair enough in a commercial world. It is very flattering to be approached by someone offering real money for one of your images. The fact they are approaching via a site like Flickr means they are probably after a bargain. For most uses, and by this I mean firms who want to use your shot on their website or in a newsletter, a newspaper or magazine or a smaller firm wanting to use an image of yours for an advert or on packaging or perhaps a hotel wanting to make a print of an image local to them, you will rarely get an order if you quote more than £40 or £50 (that’s GB Pounds) in my experience. Some buyers will walk away if you quote that high. They are looking for a bargain. Bigger companies  and publishers might pay more (and I have made £650 for one image from a London marketing firm, but that was a rare deal). try asking them what their budget for the image is. Don’t be afraid to say you are an amateur and have no idea what to charge but make it clear you want them to feel they have got a good deal but at the same time want a fair price yourself. Most image buyers will give you a hint. If the image is to go on a book cover or on product packaging you can ask for more but in all these negotiations I urge you not to be greedy. A bird in the hand is worth two in the bush. The image sat on your hard drive is making no money and in my mind it is better to walk away with £50 than hold out for £200 and not get a reply to your email. If you really wan tho get the market price and the image is on Flickr then make sure you have Getty licensing switched on on your Flickr account. then you can forward them to Getty who will price the image for you based on the customers usage and they will handle the transaction, but you will just get 20% of the sale fee.

Sometimes firms will offer you a price. If it is fair, take it. It will never sound high enough to you and, indeed, they are after a bargain but if you try and negotiate up they are more likely not to even reply to your email. There is a strong chance they will just move on to the next photographer on their list. They don’t have the time or inclination to mess about. If the offer is obviously derisory then ask for what you think is fair (and again, by fair, I mean fair to them as well as you). They may not reply, but like the guys who want free images, it is better not to be taken for a mug. Just remember, offers over £100 for an image use is rare. Once buyers get to that level they will often prefer to deal with stock companies who have the files in high resolution and give a professional service with no hassle. the direct approaches based on your Flickr stream usually come from firms looking for lower value images and you need to accept a lower fee accordingly.

This is the same philosophy I have about stock photography. Many older pro’s knew a time when they could earn six figure sums from stock photography but have seen this plummet with the advent of micro-stock and other internet based stock sites. They complain vociferously that stock is no way to earn a living. However, if we adapt to the market and realise we can make thousands more images now for selling via stock that those guys working in film could never have done, stock is still a viable way to make a complete or partial living for photographers. The market is now a world wide one too. Access to buyers is so much easier and buyers are buying many more images than they used to, they are just paying a lot less for them. Those images on your hard drive aren’t making any money so I feel it is far better to be making small amounts from them that add up than nothing at all. I get emails from photographers complaining that selling via the Getty/Flickr deal only gives them 20% of the sale price – Getty taking 80% – but I feel that if Getty wasn’t selling those images for me I would be getting 0%. I can’t get in front of the image buyers that Getty can. Those images just wouldn’t sell. As a guide I think you can expect to make £1 per image per month that you have with a site like Getty. get 100 images with them and you could make £100 a month. get 1000 images with ten and you could make £1000 a month. Simple. 20% doesn’t sound so bad when you are getting £12,000 a year from images which are just filling your hard drive, does it? The very difficult part is shooting 1000 images that are so good Getty want them and buyers buy them 🙂

There will be photographers who feel you can ask for more than the figures I have mentioned. There will be some who think the figures are too high. As I said at the outset, there is no right answer to this question. Just remember, your image is probably not unique, these guys want a bargain and the image is usually not worth as much as you would like to think it is and there will always be someone who will do it cheaper. These buyers are not big on negotiation, you often have one email to pitch the price right. Don’t be greedy but be fair to them and you. respond very quickly and don’t give the buyer any hassle.

I hope you get the order because it is a nice feeling to get paid for doing what we love and knowing someone liked our image enough to hand over hard cash.

 

 

 

 

What should I charge for my photography?

This is a big question for all photographers, pro’s and enthusiasts alike.

The answer is not simple. No one can tell us what the answer is. we have to decide for ourselves. However, there are some things to consider before deciding.

To simplify things, lets take the example of selling prints via our website. this is something many photographers want to do and setting up a website is relatively simple.

First, a sobering fact. few photographers sell more than a few odd prints A YEAR through their personal website. Fact. In fact, for those who pay Clikpic or a similar company for hosting their website and providing the website template, few will even recoup the websites costs. Some will, certainly. (I do), but most won’t. There are tens of thousands of fine photographers out there doing the same thing and the chances of someone finding your site, let alone browsing it long enough to find an image the like so much that they are prepared to send you money for it are slim. Sorry, but that’s a fact.

But lets say you want to give it a go. (And I encourage you to do so. I sell through my website and make a small part of my income through direct print sales but the website has far greater value to me in becoming my online brochure to advertise my style and abilities to other potential customers. For me, that is where the value is – in the work it generates).

So, you spend some time building your website and launch it. But the big question is, ‘what should I charge for prints’?’.

There are several ways of looking at this. If you are to look just at what a print actually costs – say a pound or two for something A4 size, three or four pounds for something a bit bigger and add on a couple of pounds for postage, your direct costs are very low. Lets say, ten pounds all in. So do you double it. 100% is a good mark up, surely?. However, sadly many potential customers are already dropping out at the £20 price point. They can get a landscape or flower photograph from Tesco for less than that, framed and ready to hang. Is yours any better in their eyes? And they still have to buy a frame. Of course, yours is unique, not mass produced, but most buyers don’t see it that way. In reality, £20 is hardly worth all the hassle to you of sending the jpeg to a lab for printing, then making up an receipt, keeping accounts, packing the image up and going to the post office to post off and so on and yet already many buyers just won’t pay it. Start charging £30 or £40 a print and buyers laugh and click off to a site which charges £10 for a similar print (trust me, there are thousands of photographers selling good, not great, images at £10 or less)

You also need to factor in that this price model doesn’t take any account of the thousands of pounds you have paid out for gear and computers as well as software plus the travel expenses in getting to the location perhaps several times to get that wonderful light. It may be nice to get the recognition of selling a print and it may be okay to make a few quid but be under no illusions, you are making a MASSIVE loss selling using this model.

If you do factor in your real costs for gear and travel etc then there is no way to price prints sensibly. You would be charging many hundreds of pounds per print.

This is the model I have been using for the last three years. I am having to re-evaluate my approach at the moment because of the points I have just made.

The alternative is to go exclusive. This is the brave step. If your imagery is VERY good and you have absolute belief in its value as art then you can forget the actual raw material cost of a print and go down the art pricing model.

This takes account, not of cost, but of value. This is where what your images are ‘worth’ comes in. if someone truly loves an image or images of yours, how much do they love them? Do they love them enough to INVEST  in them. To stake some of their hard earned money in something they feel they will treasure for years, pass on to their loved ones, in something which has true value.

Buyers willing to do this are few and far between. If you think getting the £20 a print customers onto your website is hard. Getting buyers who will pay £100, £200 or more for a print is far more difficult.

This is where you need to build a name for yourself, a reputation, and you need to develop your own style. It is no good going to Durdle Door and Bamburgh Castle and making a superb image in great light but which is essentially no different to thousands of other equally technically good images of the same places in great light which are on sale on thousands of other photographers websites using the £20 a print model. There is no reason to buy yours.

If you can build a reputation like Charlie Waite, David Noton or Joe Cornish you can charge hundreds of pounds per print on your name alone. Check out their websites and see what they charge! Those who get such a reputation are as rare as, well, as rare as Charlie Waite. Almost none of us will make it.

However, it is possible with masses of hard work, loads of networking, hundreds of fruitless dawns and withstanding loads of rejection to gradually carve out a lesser reputation than the ‘greats’ but a reputation nonetheless. With this kudos comes value. Your prints will acquire a value and you can then learn what that value is and price to it. If you can charge £100 or more a print then things are becoming more realistic from a business point of view.

Some will add perceived value by releasing limited editions and short print runs. I have doubts about this model in many cases, but that is another blog topic.

You can add value by framing the print, but you have to be prepared to organise this and handle all the variety of demands buyers will start to place on you for certain coloured wood frames of different thicknesses and different mount colours and can you do non-reflective glass and can you send it to my sister in Canada, oh and can you do it in two days because we forgot her anniversary and can you…. Customers at this level are paying much more and so demand much more. Are you prepared to deliver this kind of service? What does delivering this level of service mean to you in terms of cost. Cost in both cash terms and in terms of your time?

I am sorry there are no clear answers here, just facts. Cold, hard, facts. If you do decide to go for premium pricing because you feel your images are truly worthy then you need to back this up with premium service, superb quality prints on archival materials delivered with premium packaging. It is no good sullying the image you are building with shoddy communications and packaging. Everything has to reflect the fine art photographer image you aspire to.

A lot will depend on your needs. Are you just looking for the warm glow of knowing someone likes your image enough to pay you a few bob for it and perhaps earning a few quid each month to keep you in memory cards? Or Are you looking to go semi-pro? Not giving up the day job, but wanting to run a small business alongside your day job to bring in a serious contribution to kit or mortgage? Or is your plan to go pro? become a full time photographer? The answer to this question will help you decide on the pricing route you take.

I wish you well in your decision. Whatever that is, why not consider joining me for my ‘making Money From Your Photography’ workshop where I will help you do just that, whatever model you decide to follow? Get in touch with me for details via the ‘contact us’ page on my website.