Pricing of Photo's

[Kel]

Hi Everyone

After the last two drafts I have done I have had people emailing me to buy my photo's as I worked out what it cost me to get them print and add a bit more onto it. As I have set my prices at 5x7 - $8 - 8x10 - $15 and 10x15- $30 and a disc for $50, as I have just started out selling them. But my question is have I set the price to low and what is a fair price for a email copy of a photo? As I did not want to over charge for what skill level is. Any thoughts or comments on this would be every much helpful as I never had to price my photos before.

Thanks

Kel

[MrQ]

I haven't sold any photos so I can't comment specifically on those. However, from selling other stuff I can suggest that if none of your buyers have commented on the price then it's probably too low.

[ricktas]

How much money do you want to make from your photography? Start with how much you want to make (profit), work out all your costs (printing, insurance, gear and more), then work out how many photoshoots you plan to do in the time you have set to make your money, and then work backwards. Once you know all your costs, and how much you want to make profit, then you can work out what to charge.

So it is no use charging $8 for a 5x7 when your costs for that one item are $4.00 printing, $2.00 insurance/postage/your time, $3.00 petrol/car expenses (to get to and the shoot - which was 100kms from home), $1.00 other expenses. More details on this profit calculation method here: http://www.ausphotography.net.au/forum/showthread.php?73305-Becoming-a-Professional-Photographer&p=932955&viewfull=1#post932955

If you want to run a professional and profitable business, you need to know all your costs and be able to pay for them, before you are starting to make a profit.

[ktoopi]

I think your prices are far too low and after reading Rick's post, if you take those things into account.... Your Prices are definitely too low......I know a few professionals and their prices are more around the $15 -$20 for a 5x6......$30-$35 for an 8x10 mark and between $100 and $200 for a disc with edited digital images .....Depends on how many photos are on the disc....one of my pro friends told me she puts about 20 to 30 images on a disc for clients. People who charge far too little for their work devalues the photography industry in general IMO.

I hope this helps you.:)

[Mark L]

After the last two drafts I have done I have had people emailing me to buy my photo's

If they are requesting your photos then don't be obliged to offer them as cheap as you can get. If they are requesting your photos they may be prepared to pay more than you think (especially when animals are involved). You can always drop your price later.
I don't have any experience here, just general thoughts.

[William W]

But my question is have I set the price to low and what is a fair price for a email copy of a photo? As I did not want to over charge for what skill level is. Any thoughts or comments on this would be every much helpful as I never had to price my photos before.

I would also advise working a pricing plan from the aspect of addressing all the costs involved, as per Rick’s suggestion, above.

However, added to that and specifically addressing the price you set for prints (or a disc): that depends upon your pricing structure: for the shoot.

WW

[ameerat42]

Normally, I wouldn't answer a thread about this as I have no idea about an answer nor any intention to sell anything.
BUT, it often comes up, and you seem to be giving some serious thought to it. I turned to the habitual on-line search for
some ideas - impelled, I might say, particularly by W W's closing remark. As it turns out, I am finding the topic of some interset.

Two search results that took my eye were these:
From tutor2u (http://www.tutor2u.net/business/gcse/finance_profit.htm) comes this point:

Profit is the financial return or reward that entrepreneurs aim to achieve to reflect the risk that they take.

And from the erstwhile Wikiworld (http://en.wikipedia.org/wiki/Profit_(accounting)), a more subtle treatment begins with:

There are several important profit measures in common use.

For really heavy stuff try this Wikipediary (http://en.wikipedia.org/wiki/Profit_(economics)), though it might be less relevant for you.

But one thing I picked up from your question is the implicit desire not to profiteer - you can search on that - from your venture.
That is most noble.

Cheers, and I hope you work it out.
Am.
(Then tell me:rolleyes:)

[Kel]

Thank you for all you input it has given me a lot to thing about, it has been very helpful.

[Tastris]

I have no idea on this type of thing as I dont sell pics but maybe trying getting at look at other photographers price lists? that way you can check out what they are selling photos for, work out your pricings and see if you can compete within the range of others?

I dont know, just my thoughts really.

[jeffde]

It depends what your selling but they are way to low... - the print cost is irrelevant - its your total costs , your time and expertise that your paying for. A cup of coffe costs about 50 cents to make - you buy it for $4-5 and its gone in 20 minutes - but they sell heaps...