Setting a Value on a Photograph

[Hasira]

I know most people who ask this have lofty dreams about selling their photography.

My situation is a bit different. Sort of on a whim I responded to a Call for Artists locally. I submitted 5 representative pieces, and expected that would be the end of it. I'm not really all that confident in my photography, even though friends and family tell me it's good (none are photographers so I take it with a grain of salt).

Well, miracle of miracles, I was accepted to exhibit my photos. I got the paperwork last night, and one thing they want me to do is list the value of each piece for liability reasons (selling isn't even allowed at the exhibition, although I can provide contact info for anyone interested in purchasing -- I don't expect to hear from anyone).

So now I'm faced with valuing my images. The self-conscious part of me wants to put it at simply the price of frame and print. But another part of me is saying that my time and skill should be worth something.

How do you go about valuing an image? They're 11x14, with just a basic frame and matting.

 

[AlbertTheLazy]

Next question?

 

[madecov]

Cost of materials x30%

add your time at an hourly rate that you think your worth.

 

[Rankin Johnson]

For a good print by a modern, unknown artist, (so no collectible value), I'd pay a few hundred bucks.

I don't think your time is a useful measure. How long did the picture take? 1/50th of a second?

 

[thomo]

What ever it would cost you to make and frame another print of the same image. Less than $50 I would imagine. It is to cover the cost of replacement if your framed print is lost or damaged - that's the real cost not a perceived cost!

 

[Agiledogs]

Congrats on the exhibition.

For value you have the following considerations:

1. Cost of materials.

Fame, Matte, Print, plus the expense taking the image...gas, hotel, wear and tear on the car, plane ticket, meals, paid models, etc... There is a cost to each image you shoot.

2. Cost of your time

Yes the camera only worked 1/100s but you were on location for how long prepping and staging the shot, You spent how much time in post processing the shot, including color calibration, soft proofing etc.

3. Artistry Mark up.....

This is the most difficult thing to assess as it is the most subjective. With the others you can set an hourly rate and keep receipts for your expenses, This is the because it was made by you factor. If you were selling this would be your profit mark up. 20-30% is good for someone new and not well known. This can go as high as 45 or 50% for someone well known.

 

[HRC2016]

How on earth can you justify a charge for your travel and time spent scouting the location?

The photogtaph is not one of a kind, unless you are only printing one. I think it's criminal to repeatedly charge for your travel time.

In this case the value of the photos is only frame and printing.

 

[Agiledogs]

How on earth can you justify a charge for your travel and time spent scouting the location?

The photogtaph is not one of a kind, unless you are only printing one. I think it's criminal to repeatedly charge for your travel time.

In this case the value of the photos is only frame and printing.

And this is why you may not make it in a professional sense, because you are undervaluing your product. Even when I am working for a media company, I am reimbursed for my travel expenses on top of being paid for my work.

The gas, hotel, meals all of that went into making your shot.

 

[jeffcpix]

I think they want the replacement cost for the actual object -- not what it would sell for if you found a willing buyer or what it would cost to re-shoot. But don't forget the value of your time in getting it reprinted, matted and framed.

 

[Lightpath48]

A salon owner in the Midwest USA (Cedarburg Cultural Center in Wisconsin) told me that as a minimum, triple what it cost to produce your mounted/framed print. Don't give it away when other professional artists are trying to make a living within the same market. Go higher, if your name is established or you think the local market supports it.

 

[jeffsvisions]

I know most people who ask this have lofty dreams about selling their photography.

My situation is a bit different. Sort of on a whim I responded to a Call for Artists locally. I submitted 5 representative pieces, and expected that would be the end of it. I'm not really all that confident in my photography, even though friends and family tell me it's good (none are photographers so I take it with a grain of salt).

Well, miracle of miracles, I was accepted to exhibit my photos. I got the paperwork last night, and one thing they want me to do is list the value of each piece for liability reasons (selling isn't even allowed at the exhibition, although I can provide contact info for anyone interested in purchasing -- I don't expect to hear from anyone).

So now I'm faced with valuing my images. The self-conscious part of me wants to put it at simply the price of frame and print. But another part of me is saying that my time and skill should be worth something.

How do you go about valuing an image? They're 11x14, with just a basic frame and matting.

I'm sure the organization that is running this has done this before. Explain that this is you first time doing this and you don't want to over or undervalue you work. Ask them how other people have valued their work in the past.

 

[hdr]

A salon owner in the Midwest USA (Cedarburg Cultural Center in Wisconsin) told me that as a minimum, triple what it cost to produce your mounted/framed print. Don't give it away when other professional artists are trying to make a living within the same market. Go higher, if your name is established or you think the local market supports it.

Yes, ultimately, it depends on the quality and standard of your work. If your work is at least on par with the best available work of the same genre, by all means set a price/value equal to or slightly higher than theirs. Of course when your work is in demand in future, you can name your price, or people will be willing to bid for it.

 

[roccoriley]

Don't overanalyze this subject. They are requesting a value for liability, not a resale price. Just make them $1,000 each and be done with it.

 

[hdr]

Don't overanalyze this subject. They are requesting a value for liability, not a resale price. Just make them $1,000 each and be done with it.

That's well and good if that valuation is acceptable to them for the said purpose of liability.

 

[roccoriley]

Don't overanalyze this subject. They are requesting a value for liability, not a resale price. Just make them $1,000 each and be done with it.

That's well and good if that valuation is acceptable to them for the said purpose of liability.

Sure, and if it's not then he can reduce the value.

 

[HRC2016]

How on earth can you justify a charge for your travel and time spent scouting the location?

The photogtaph is not one of a kind, unless you are only printing one. I think it's criminal to repeatedly charge for your travel time.

In this case the value of the photos is only frame and printing.

And this is why you may not make it in a professional sense, because you are undervaluing your product. Even when I am working for a media company, I am reimbursed for my travel expenses on top of being paid for my work.

The gas, hotel, meals all of that went into making your shot.

I agree that a pro needs to be compensated for all of their expenses, including travel.

However, I think it's fraudulent to charge for 100% of the expenses FOR EVERY PRINT. This could result in recouping travel charges many times over.

I can see charging for expenses if the photogtapher is selling the rights to the image, but not if the photogtapher is selling only one print.

Of course, the bottom line is what a person will pay.

If I'm traveling on behalf of two customers I don't charge them both for my travel expenses or time.

 

[RedFox88]

How do you go about valuing an image? They're 11x14, with just a basic frame and matting.

For liability? Then it's the cost of the framing materials , cost of the print (lab cost if outsourced or paper and ink costs if self made) since at this point your photos have no value having never sold one.

 

[RedFox88]

A salon owner in the Midwest USA (Cedarburg Cultural Center in Wisconsin) told me that as a minimum, triple what it cost to produce your mounted/framed print. Don't give it away when other professional artists are trying to make a living within the same market. Go higher, if your name is established or you think the local market supports it.

Guess you didn't read the OP. It's not sale price.

 

[sigala1]

Even though you spent a lot less to frame it, the retail cost of custom framing a print will not raise any eyebrows and will cover you in case the the picture is lost or stolen, which is extremely unlikely to happen anyway.

 

[Agiledogs]

How on earth can you justify a charge for your travel and time spent scouting the location?

The photogtaph is not one of a kind, unless you are only printing one. I think it's criminal to repeatedly charge for your travel time.

In this case the value of the photos is only frame and printing.

And this is why you may not make it in a professional sense, because you are undervaluing your product. Even when I am working for a media company, I am reimbursed for my travel expenses on top of being paid for my work.

The gas, hotel, meals all of that went into making your shot.

I agree that a pro needs to be compensated for all of their expenses, including travel.

However, I think it's fraudulent to charge for 100% of the expenses FOR EVERY PRINT. This could result in recouping travel charges many times over.

I can see charging for expenses if the photogtapher is selling the rights to the image, but not if the photogtapher is selling only one print.

Of course, the bottom line is what a person will pay.

If I'm traveling on behalf of two customers I don't charge them both for my travel expenses or time.

If travelling for 2 customers they would then share the costs. Note this is also a valuation for liability/insurance purposes and may not necessarily reflect what one might pay for an item at sale. Basically its an appraisal. I value my work, perhaps more than others. As far as image predictability...in a perfect world yes one could always reproduce the image....the world however is not so perfect.