How Much is an Image Worth? Tips for Pricing Your Photography

One of the questions that a lot of photographers ask, is how much I should charge for my images? It is very hard to do, and hence a lot of artists struggle with it. There is so much more involved, and many don’t quite understand. So, how do you go about pricing your photography?

Flinders Street Station, this image took me about 3 years to get and I spent hours processing it. Hence it would have a high price on it.

Learn from the masters

There is a great story about Pablo Picasso, the famous artist. It goes like this.

Picasso was sitting in a Paris Café when an admirer approached and asked if he would do a quick sketch on a paper napkin. Picasso politely agreed, swiftly executed the work, and handed back the napkin – but not before asking a rather significant amount of money. The admirer was shocked and asked, “How can you ask for so much? It only took you a minute to draw this.” Picasso replied, “No, it took me 40 years.”

Whether this story is true or not is hard to know for sure, but it has a very good point. Most people do not consider the experience of the artist. Along with that are many other factors, like your education, the cost of equipment, and not to mention the time you spend creating the photo.

How much to charge, as you are going to see, is a complicated question and does depend on many of those factors. They are often things that people don’t really think about. Many photographers just pluck a price out of thin air and go with it. If I’m telling the truth, I have to say I was the same. I would constantly give different prices for my images.

Now I have a system in place and it is all based on the following.

I do macro for fun, so this was shot in my garden one morning and processed quickly. The price wouldn’t be high for this image.

Education

You have to take into consideration any education you have done to learn or improve your photography. It doesn’t have to be formal education, like a university degree, but if you have paid money for it, then you need to consider the cost.

Something like a Bachelor of Fine Arts will cost you thousands of dollars. You will never recover your money if you are only charging people $20 an image, for instance. How many will you have to sell to pay off the degree at that price?

What about other short courses you may have done? Ones that are just a few weeks long, or those that are done online. You need to think about how much they cost and the time you spend doing the classes and learning to do all those new skills. There are so many online courses, from learning how to use your camera, to how to edit your photos.

While I enjoy this kind of photography, it isn’t part of my main body of work. Therefore, it would never be editioned as it isn’t worth as much.

Gear

If you are anything like me, you have spent a great deal of money on your photography gear. Though you also need to think about what you have bought in the past and what you have now. For instance, how many cameras have you had? How many lenses have you had over time?

Consider all your accessories as well. Think about your camera bags, tripods, filters, memory cards, camera straps, etc. These are often forgotten, but they all add up and should be considered when pricing your photography work.

This was taken with a good macro lens and an expensive camera so those factors should be taken into consideration when pricing the image.

Time

Every time you go out to take photos, how much time do you spend in the field? Don’t think just about the length of time it takes to take a photo. You need to think about how far you traveled to get there and back. Did you have to drive around quite a bit?

When I go out shooting I can be gone all day. I might leave early in the morning and not get back until late that night. During that time, I may have traveled over 250 miles or 400 km, and used a tank of fuel. Not to mention having to buy two to three meals. It all adds up and if you are selling your images you need to consider these things as well.

Then what happens when you get home? The images are put onto your computer and then processed. It is going to be different for everyone, but you will likely spend anywhere from 15 minutes to several hours on each image. All this time should be considered when you are pricing your photography.

You should be giving yourself an hourly rate so you can add that up at the end to add to the price. While you may have gotten several images to sell in that one trip, you can divide it up and spread it out over the series.

This image is a combination of two and I spent many, many hours on it. I would ask for a high price for this one.

Editions

If you plan on selling your work as limited editions, then it will be worth more as you can only sell so many. When you do a limited run of an image they must all be identical and numbered, according to where in the edition they are, for example, 1/10, or 4/10, etc.

An edition is where you decide how many of that image you will sell. The number is up to you, 10, 20 or 100, maybe more if you think the image will be in high demand. However, the more there are in the edition the lower the value will be.

You have to be very organized to edition work and keep very good records. Once the edition is sold, you cannot sell anymore. There is some debate as to whether you can rework the image so that it looks different, but that is perhaps for another article.

This image would be part of my body of work and would definitely be put into an edition, perhaps with a limited run of 10.

Printing

Most know that you have to include the cost of printing. If you are selling the image you need to make sure the print is a good quality. Printing it yourself with a cheap printer and ink is never a good idea. Most of those will fade with time and you will be selling someone a print that won’t last a lifetime or more.

Make sure that wherever you get the work printed that it is archival. There is nothing worse than buying a piece of art from someone and then in 10 years it is gone because it was printed badly.

When you are preparing your work for sale, make sure you get the cost of a professional printing job and include that in the price.

An image that was done for fun. It would still be printed well, but the price would be lower than others.

Working for free

This may seem like a good idea, it gets your foot in the door, but the reality is that it rarely works. Once people know they can get images from you for free then they will continue to expect that. When you stop, they will just go to the next person. You should always charge for your images and your work.

You should also not sell your images for next to nothing. Think about how you are harming the industry by doing so. If it were any other industry and people were selling their services or products for much less than others it would be considered wrong, or cheap would mean not good. You need to consider every aspect when pricing your photography

This is a bit of a throwaway image, taken during a time-lapse with a few hundred others. Still, it would never be given away for free.

Next time

So when someone asks you how much is your image worth, think about all the things that have been mentioned here. Of course, you are not going to charge thousands, but you want to get some of what you have spent back. Each time you sell one photo you have to work out how you can start to recoup the costs you have outlaid for your photography.

Please share your thoughts, if you have anything to add, on pricing your photography tips in the comments section below.

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