Photo pricing guidelines

[boxofrocks]

I have had this book recommended to me: http://www.amazon.com/gp/product/158...Fencoding=UTF8

What tools do you guys use to price your work?

Thanks!!!

[sbp]

I just keep in mind not to rip off client. If I see he/she is in trouble planning due to financial troble or father/mother is taking expense on their head just help their kids out and having financial trouble. I just reduce my price.

[boxofrocks]

Originally Posted by sbp

I just keep in mind not to rip off client. If I see he/she is in trouble planning due to financial troble or father/mother is taking expense on their head just help their kids out and having financial trouble. I just reduce my price.

Well, I appreciate your sense of altruism, but that doesn't really give me any guidance on setting prices to begin with.

[adam7731]

start looking at other photographers prices. Call up and say you are going to get married and you are looking for prices. That's a great way to start by taking a local sample and then you can place your prices where you would like them either higher or lower.

I would never lower my prices because some one was in finacial problems. I might offer a payment plan but i am not going to lower my price.

[brad]

Don't just set your prices by what others charge.. and unless you are desperate for the work, do not lower your prices just because someone asks. Pricing lower than everyone or lowering your prices because someone asks devalues your work both in your customer's eyes and your own... and if you start to devalue your own work, you will start to resent it.

I started by deciding what I wanted to make based on a full schedule.. comparing that to my costs for producing materials and adjusting those prices.. then comparing that to other photographers (you can do this, just don't make it your primary criteria).. then looked at how I do things and why people should pay extra (or not) to come see me rather than going to Sears or some other studio... and its those points I try to stress when selling.

Don't enter the business thinking of yourself as "just a photographer." You have to know why you are the right choice for the customer and you have to believe it. If you don't believe it, you won't be able to "sell" it.

[boxofrocks]

Originally Posted by brad

Don't just set your prices by what others charge.. and unless you are desperate for the work, do not lower your prices just because someone asks. Pricing lower than everyone or lowering your prices because someone asks devalues your work both in your customer's eyes and your own... and if you start to devalue your own work, you will start to resent it.

I concurr. I come from a sales an marketing background, and I NEVER sold on price.

However, i could use some help in establishing fair market value. For example, next week I'm doing a shoot of a museum artifact (a moon rock). We'll call this product photography for lack of a better term.

I have an idea how much time it will take me, what lighting equiptment to use, how much post processing time I will spend, etc. How do I determine fair market value for my services (the same question could apply to portrait shoots, architecture, etc). All I'm looking for is a good benchmark of what others charge. I don't want to undercut others to get business, but I don't want to price myself out of the ballpark, either.

There is a software tool out there (can't remember the name) that can be purchased to give guidelines such as this (if I'm not mistaken, it tells you the "going rate"). Now I understand how subjective that is, but at least it gives you a place to start.

Does this make sense?

[brad]

Don't know if it will help your situation, but try this site:

http://photographersindex.com/stockprice.htm

[boxofrocks]

Originally Posted by brad

Don't know if it will help your situation, but try this site:

http://photographersindex.com/stockprice.htm

That's a good start, thanks a lot!

The down side is that it applies mainly to "stock" photos. Most of my work today is specifically contracted.

I imagine there are other resources out there, too. Any other ideas anyone?

[adam7731]

you have a day fee and half day fee for most commercial work. unless you are doing catalog work then you price the whole thing out..

normally i do it by day and half day unless it's only going to a couple hours then i charge by the hour.

if you dont know what the market will bare then you have no idea what to charge. right now most people are charging 125-175 and hour and 1250-1750 for day fees. that's 10 hours normally which in turn works out to 14 hours. You dont make the money on the time shooting you make the money on the rights to publish your work. That is where the stock calculators can help.

[boxofrocks]

Originally Posted by adam7731

if you dont know what the market will bare then you have no idea what to charge. right now most people are charging 125-175 and hour and 1250-1750 for day fees. that's 10 hours normally which in turn works out to 14 hours. You dont make the money on the time shooting you make the money on the rights to publish your work. That is where the stock calculators can help.

I understand. My hourly and day rate is right in line with what you posted.

This helps a lot. I just went into this full time last year, and know more about women than I do about all of the details of the business side of photography. I consider myself a work in progress in that area.

(I don't know $hit about women.)

[adam7731]

I didnt say those where my prices but most people....
moon rocks sound fun. i never get the fun gigs just once i want to hang from a helichopter or swing from a tall building.

[Clint_Smith]

I gennerally price like this.

Cost of Sales (what it cost me to produce)
X 3.3 (30 percent markup)
-----------------------------------
Total price



example: Album-$10
Prints- $20
1 Hour Time-$35
------------------------
$65 Cost of Sale
x 3.3
------------------------
$214.50 retail price

[AjP]

I had same delema and checked prices in my area, like weddings aver. price 1200-1500, so I'll not go below that no matter what.


still trying to figure out prices for sports but it won't be easy :)

[boxofrocks]

Originally Posted by AjP

still trying to figure out prices for sports but it won't be easy :)

Do you mean for spec work posted and ordered off the web?

[AjP]

I mean specific work for magazines or newpapers or...

private orders from web is simple enough