As an Artist
One of the biggest headaches about being an artist is pricing out your work. You have to consider a number of factors, such as:
- Experience: How long have you trained in your field? Did you go to school for your craft? If not, how carefully and for what period of time have you studied your technique? Do you have any experience working at a professional capacity for an established business?
- Time: How long did it take for you to develop this specific work? Don't discount how much effort you had to put forth in developing your technique. Behind every great work is a number of unsuccessful attempts.
- Cost: How much did you spend on materials and how much does it take for you to maintain your business? Don't forget about monthly subscriptions like the Adobe Suite or the cost of your website.
- Competition: Compare yourself to others in the field, especially ones you admire and aspire to emulate in one way or another. What are they pricing their work at? Don't be shy about reaching out to ask them about their pricing strategy. Creative communities generally work to uplift and collaborate with their peers.
- Je Ne Sais Quoi: What are you delivering to your client that is distinctive? Think about yourself as a brand. As a person, what do you bring to the table? Are you an empowered black photographer doing an artistic study on skin tones? Are you a total nerd who has gone on many deep dives investigating different ways to hone your craft? Maybe you're a world traveler and work to expand the worldview of those around you.
While considering all of these points can feel intimidating, don't be struck with the hurdle of imposter syndrome. Are you getting positive feedback about your work? That's a good sign! Your admirers value your work for the unique talents you possess. Remember that not everyone with an iPhone is a photographer. You've invested in your craft and that is valuable.
Be aware that lower pricing, within reason, will generally sell more prints and could ultimately create more revenue per each piece that you've created. But there are a number of ways to raise the pricing of your work like with limited edition, signed runs and hand embellished giclée prints. Just beware that setting your price too high could potentially scare off buyers.
For more on pricing your giclée prints, Old Town Editions has an excellent Suggested Retail Pricing Guidelines chart you can check out by clicking this link!