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Question for those selling prints @ markets/fares

Oh man, I dunno...$5? I think you're shooting too low...

And the loss leader thing...I'm no economics/marketing expert, but that seems like something the major chain stores do, not an individual artist. But I've never done anything like this so maybe I'm way off base.

I would think that, as a one-man operation, everything should have a profit margin.
 
You need to accept credit cards. I use Square for my sales. Low percentage and no monthly fees.
 
hoffy said:
OK, riddle me this.

How much would you charge for a postcard sized print?
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When I started, I offered 5x7's, matted to 8x10, for $25. I also did a "twofer" for $40. That gave me room for bargain hunters asking "what's the best you can do?". I'd offer a single at the twofer price, and pocket the $20. I'd rather make $20 than not make $25...
 
For pricing, find out how much it costs to make. Include everything. Double that. That is your bottom price. Never, ever go below that. That's what you'd sell it to your own momma for. If you don't feel right charging your momma that much, then give it away for free. For other people, I'd double the doubled price, or 4x what it costs to make. That's the bare minimum I'd price anything at, and it gives you some room to haggle, because some people love to haggle.

If you price it below that, people won't think it's worth anything, and they won't want to buy it. Obviously, if you price too high, Nobody will buy it. There are people whose sole job is to find out the proper prices of things to maximize profits, so it can definitely be hard to figure this stuff out on your own.

At the end of the day, people don't buy your work, they buy you. So you have to be the salesperson that sells your work. If you're not selling well, don't blame the prices. Blame your practices and presentation. It's better to give your work away for free than to sell it below what it's worth. Free is a gift, and people will appreciate it. Cheap is just cheap. And everyone knows you get what you pay for. It's psychology 101. So if you sell your work for cheap, no one will respect you or your work, even if it's damn good. At least if you overcharge, people will wonder if they just don't get it.
 
OK, I appear to have some more soul searching to do.

I suppose I am trying to aim at prices that I would be happy to pay if it was me buying them and it appears I am a bonafide tight arse!

As I have stated though, the aim is to sell, not to cart around - so often I have seen people run their own exhibitions at a total loss with absolutely not a print sold.

BTW, if anyone is willing to help me out on this - point in in a legitimate direction, I am all ears!
 
hoffy said:
My intent is to have some simple 5x5's/5x7's on RC paper not matted (probably in a plastic slip). I'll take your suggestion on board.
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I think you need to mat them. A matted 5x7 comes across as an item of value ( art, if you will). A 5x7 in a bag comes across as a postcard, perceived as overpriced at even $5/each.
 
hoffy said:
BTW, if anyone is willing to help me out on this - point in in a legitimate direction, I am all ears!
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I think your biggest problem is lacking confidence in the value of your work. You're trying to sell an item no one "needs". It's not food, clothing, gas, lodging... People will buy if they sense a perceived value. They can only get that from you. It's in how you present the work, how you talk about it. By matting, you're showing you respect your own work. By describing your process ( both technical and compositional) in a passionate way, they'll see a greater value.

About 15 years ago, I saw a drop in my sales at Art Festivals. I lowered my prices, but there was no increase in sales. I talked to a more experienced friend who told me to raise prices beyond my original pricing. Sure enough, sales increased quickly. The moral is, there's no inherent value in our work. Perception is everything.
 
Why are you doing it if not to make a profit? What's the point?
 
faberryman said:
Why are you doing it if not to make a profit? What's the point?
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Sure, yes, I am not doing it to make a loss. But photography is not a business for me. I have no plans of it being a business (never say never).

I think the biggest issue with my thinking is quantifying the value of my time.
 
Ok, I had a look at your flickr page. Yeah, at $5 you're underselling. Nice shots.

I realize those are scans, but I'm assuming you can kick out an rc print to match?

Have you thought about approaching the local auto parts stores - maybe some of them would be willing to let your prints sit near the check out for a cut?
 
I always think I can kick out an RC print. I wouldn't say they are the same, but they are close.

As for Auto part stores here locally, no, I don't think that would be an option. There is one or two repairers and customisers that could work though.

Cheers for the feedback.
 
If you want a $5 item as a "teaser", offer a $5.00 postcard, with a provision that it can be exchanged for $25.00 off a larger, matted presentation print.
And put your marketing details on the back of the postcard.
 
eddie said:
You need to accept credit cards. I use Square for my sales. Low percentage and no monthly fees.
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In general that will depend on the country. I got no idea about Australia. Germany for instance seems in Europe to be leading in conservatism concerning cash.
People might be even more reluctant using cards at a booth (I even expect wiring of the booth to be necessary for such).
 
hoffy said:
. . . My intent is to have some simple 5x5's/5x7's on RC paper not matted (probably in a plastic slip). . . .
Click to expand...

That's a good idea. I offer 8,5x11 prints at $5. It gives almost anyone a chance to have an example of an interesting subject or my photography for the price of a fast food snack. They can always put it in a $1 frame. These little prints have a higher profit margin than the larger matted or framed photographs, and require less effort. Outsourcing the printing might change the economics. However, for most of the past seven years, printing was done on an Epson 3800 with Epson paper and ink. Well over 6000 prints brought the printer depreciation down to maybe $0.20 per print. Ink and paper were less than $2. Getting the prints to suit me rather than some distant printer is invaluable. So is the opportunity to bring examples of good photography to many. More than good business, it is personally satisfying.
 
I couldn't agree more
 
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