What is it with the "investments" ?

[gtakacs]

I've been looking at some career photographer's websites and surprisingly a lot of them use the term "investment" instead of the word "pricing". I just have to ask why?

I might be too smart for my own good to realize that getting pictures your taken is not an investment. According to Wikipedia: Investing is the active redirecting resources from being consumed today so that they may create benefits in the future; the use of assets to earn income or profit.

What kind of asset is a family portrait? Beyond the basic artistic appreciation it has no value. It will not generate income and will certainly not make any profit.

Do photographers really think customers are that dumb? Or is "investment" to "pricing" what "pre-owned" is to "used"? Maybe the Amish can shed some light on this dilemma....

[EyeBurn]

imo, it's easier for ppl to hear investment then purchase/pricing/etc

the buzz meaning would be you (the client) would be investing in your family heirloom or treasures. Hopefully, if the client keeps good care, these prints will be kept and passed down for generations.

-Benjamin

[toverman]

Originally Posted by gtakacs

What kind of asset is a family portrait? Beyond the basic artistic appreciation it has no value. It will not generate income and will certainly not make any profit.

You are right that there are no real monetary gains to come from family portraits. But there are many returns ... capturing children as they looked at a certain age, sparking memories and bringing joy every time the image is viewed. The profits can be so high in that regard that it feels like an investment. In this digital age where every cell phone has a camera, a classicly posed, high-quality image sets itself apart on technical aspects alone.

I think some photographers choose to use "investment" for those reasons, or maybe it sounds more artistic than "pricing" (kind of a $25 word for a $2 concept). Especially in the concept of a wedding, where couples "invest" so much in the party, subtle encouragement for them to "invest" in photography – which done well can be cherished for a lifetime – isn't such a bad thing.

[HotHolly]

What kind of asset is a family portrait?

A priceless one. Time is fleeting and life is short. You do the math.

[gtakacs]

Originally Posted by toverman

In this digital age where every cell phone has a camera, a classicly posed, high-quality image sets itself apart on technical aspects alone.

It most definitely does! Somehow I just can't seem to call it an investment. But then again, most people buy their primary residence and they are told by their realtor it's an investment.. I've actually seen the word "investment" used to define the price of something on brochures outside the realm of photography quite often as well and it always made me wonder.

Originally Posted by HotHolly

A priceless one. Time is fleeting and life is short. You do the math.

I guess I'm just too materialistic, that's all.

[kenw]

The sad fact it isn’t an investment at all; it’s an expense. It was only after the marketing types got into it in the 90s that it was called “investing”. About then is when I overheard a 20-something in the elevator at work (a very yuppified place at the time) telling her friend about their new BMW. “My husband says it is a better investment.” Barf. Only an idiot “invests” in things that depreciate. Non-idiots can buy the same exact thing but don’t fool themselves by calling it something it isn’t.

It’s an expense, pure and simple.

Expenses should be minimized and made carefully. Buy a car, buy a camera, buy a great family portrait, buy whatever. Unless it goes up in value, it makes a lousy investment.

Yes, you can stretch the definition to include investing in memories, etc, but it is really weak logic.

[HeatherLou]

Investing in Photography is an emotional investment. The pictures may never bring you any dividends, but imagine your a parent who lost a child, or a daughter who never met her father cuz he died in Iraq.......how priceless is that portrait?? Granted, those are extreme cases, but even just a child growing and changing that first year?? Or seeing a portrait of a HS boyfriend?? Looking at photography is a tangible connection to a memory.

[gtakacs]

I just couldn't leave it alone and went onto some digging. If you google photography investment you will find an amazing number of photography websites that define pricing as investment. Some even go all out and write several paragraphs to justify your "investment".

Then I went on to try to look at it from another angle. I googled "word investment" pricing and found two interesting articles:
http://www.klariti.com/business-writ...lPricing.shtml
http://freebusinesstips.com.au/marke...glish-langauge

The first one simply says:
The word "cost" makes the reader feel like it is an expense they need to shell out for. Conversely, the word "investment" makes them feel like it is an investment that will give them a considerable pay back.
and ends with a solid:
Never say "Your investment in the xyz widget is $1235". Instead say, "Your investment in the xyz widget is $1235 which includes 14 refills (valued at $xxx), a lifetime replacement guarantee, free lifetime technical support etc. etc."

The second one sums it up:
People don’t want to pay the price, but they are happy to make an investment. The word “investment” has a psychological link to a pay back over and beyond the amount of money involved.

So there you have it! It's a marketing term that apparently works on most people, otherwise we wouldn't use it. Who's the dumb now? Looks like I am for using the word "pricing".

[Steelsun]

It's hokum and when I see it I immediately think someone using it has been bamboozled by some "marketing guru" or late night "get rich" commercial.

A portrait is an asset, yes, but it's not an investment. An investment is something that can be traded away for worth (i.e. money). The image you get is only worth something to you and your family (and maybe People magazine if you ever become famous).

It's about as much as an "investment" as buying a Liberia minted US dollar piece commemorating Obama.

[kenw]

Originally Posted by Heatherlou

Investing in Photography is an emotional investment. The pictures may never bring you any dividends, but imagine your a parent who lost a child, or a daughter who never met her father cuz he died in Iraq.......how priceless is that portrait?? Granted, those are extreme cases, but even just a child growing and changing that first year?? Or seeing a portrait of a HS boyfriend?? Looking at photography is a tangible connection to a memory.

not necessarily disagreeing with the idea, but in the purest sense, can the portrait of the lost loved one now be sold for more than you paid for it? That would make it a positive/good investment.

"Priceless" is a good word to use here, and perfectly describes such photographs, but it has nothing to do with investing.

Yes, sticking to strict definitions is cold and it certainly isn't big on the warm-fuzzies...but the 90s warped a lot of things and the word "investment" was certainly one of them.

[toverman]

Originally Posted by kenw

"Priceless" is a good word to use here, and perfectly describes such photographs, but it has nothing to do with investing.

I'm not necessarily disagreeing with you, but I don't want people to think there's no price for hiring me!

[d2creative]

Originally Posted by kenw

the 90s warped a lot of things and the word "investment" was certainly one of them.

If I may quote Marisa Tomei and Mickey Rourke in The Wrestler...
"I'll tell you somethin', I hate the f****n' 90's." "Ya, the nineties sucked."

[HotHolly]

It may be a marketing thing. I wouldnt deny that. I dont think its bamboozling people either. You may feel better about using the word pricing. I actually have no idea which word I am currently using.

I was about to write something similar to what Heather wrote. When a person dies you have a pile of their stuff and hopefully a good portrait of them. What sticks around forever? The portrait.

A portrait is a way to be immortal(ish). It sticks around for 100 years after it was taken. And the stuff Heather mentioned isnt all that odd. It's tragic, but people die. And their loved ones want to have something to remember them by.

I'd say the word investment also attracts like minds. Those photogs want a client who thinks of purchasing photography as an emotional investment, to preserve a single moment in time that the client treasures.

What is the one thing we never have enough of but have plenty to waste; is wasted on youth and coveted by the old; has no price but is priceless?

The word investment is the general gist, but the word price is utterly lacking for what I do, imho. I honestly don't like either term. I'd call it treasure.

[CaptainTom]

I'm proud to be part of a generation that is involved in the evolution of our language.

I prefer to continue to be on the edge of modernism, rather than buried in the depths of antiquity.

If you are hung up on the OED definition of every word, that's your problem.

[Tom]

The worth of something can be defined in a number of ways.

Holly's family portrait wouldn't be worth anything to me. But I bet it is worth a lot to her.

Holly probably wouldn't want to pay a dime for the family portrait over my mom's mantel, but if the house was on fire, I know that is the first thing my mom would grab.

Is it an investment that we will make money off somewhere down the line? Nope. Whatever my parents paid for it back in 98, if someone stole it and ransomed it, I bet they would pay multiple times what what they originally paid for it. It may not be worth a dime to Holly, but to my mom, it is priceless.