Okay Greg, I'll contribute personal experience. Thanks for asking.
Paula and I receive pretty much 100% of our income from the sale of our photographs. The production costs on the books we publish are so high that we lose money on them. We teach from two to four weekend workshop a year. The income from those workshops just covers our time. We do occasional lectures and once in a very great while that pays well, but usually it does not. So, 100% is a pretty accurate figure, maybe 95%.
Along with our assistant, Richard Boutwell, we have recently taken over Superior Archival Materials and are hoping that will provide some income. Superior is being renamed Lodima Archival Materials. And we will have Lodima paper. And that may, eventually, provide a little income.
Selling photographs: There are several markets for photographs and they seem to be pretty much mutually exclusive. There is the market of museums and collectors. About six or seven ago, at a major museum, the curator, who was buying our work, said to us rather pointedly, "Your prices are too low!" At the time, Paula's prints were probably $800 and mine were probably $2,000. These would have been the prices for recent work. Older photographs were priced considerably higher. When we told him we thought our prices were fine, we said, "They are not. I see what comes in here every day." He did ask us, however, not to raise our prices until the next day. Subsequently, we have raised our prices. At our exhibition at the 291 gallery in San Francisco at the end of last year, we did sell photographs in the low five figures. We need to do that in order to keep going. Our overhead is high.
In the world of museums and collectors if your work is not priced appropriately high it will not be considered seriously. In that world, it is only the most unusual collector who would even look at a print priced in the low hundreds of dollars. Collectors who may spend six figures for a photographs think anything under $10,000 is very inexpensive.
Then there is the world of non-collectors. This world includes many amateur photographers. They think a print for $2,000 is way too high. They even think a print for $500 is way too high.
Pricing your photographs in the $250 to $500 range is fine if you are just starting out, and gallery sales will not happen (and while I am thinking about it, galleries take 50%. not 40%). But today, anything lower is not taking yourself seriously at all. (I sold my first photographs for $10 and sold 40 of them at my first exhibition (no gallery commission), but that was back in 1966. There has been inflation since then, and the whole standing of photography in the art world has changed since then.
How you price your work is a function of how you see yourself in the art world relative to all the other work that is being done. Those who price their photographs in the less-than-$100 and slightly higher range, do not see themselves in the art world at all, and have no aspirations to join it. That's fine. Nothing wrong with that. Nothing wrong with having your photographs sell, if they do, to local people who would like something on their wall. But there are, or should be, two different discussions going on here.
Now, some of those who want to sell their work, and think they should do so at very low prices, do aspire to join the art world. But from what I have seen, they generally are not really involved with art at all. They are kidding themselves, or perhaps, they just do not know how to proceed. They don't know what is involved.
What would it mean to be involved with the art world? First of all, you have to look at your work in the context of the entire history of photography. And how do you do that? You make sure you know, and know well, the history of photography. And in addition, you follow what is going on today in the photography/art world--whether you like the work or not. And you look at non-photography work--painting and sculpture, and you think about how your work fits into the entire tradition of art making. Who knows where it will lead you? And you have a serious library of photography books and subscribe to photography magazines and art magazines. Not technical ones. And once you have learned it, you pay no further attention to technical things, but pay attention to pictures.
Here is an example of why I believe that most amateur photographers are not involved with photography as art, even if they think they are. I am surprised that the series of book we produce--the Lodima Press Portfolio Book series--books of the highest quality 600-line screen quadtone--by many of the most significant photographers of our time, Nick Nixon, Robert Adams, Keith Carter, Larry Fink, George Tice, and on (see the entire list at
www.lodimapress.com), and of all previously unpublished work, and which we originally sold to subscribers to this ongoing series for only $20 has, I believe, not one subscriber who is an APUG member. (I just checked the list, there are two or three subscribers who do contribute on the APUG forums.) When we announced this series on APUG several years ago we received not one response. Why not? I believe it is because those who are involved here are not really serious in a deep way about joining that great pantheon of art through the ages and so have little to no interest in looking and learning. We never expected everyone to like every book in the series. We expect some of the books to seriously challenge the complacency of so many amateur photographers. But technical considerations seem paramount here, not the making of art. There are exceptions, and the brush I am painting with here is probably too broad, but the failure to be deeply engaged with the greater world of photography and art on the part of so many, is . . . disappointing, is, I guess, the word that comes to mind.
This has rambled a bit too much. Were I to write about this not off the top of my head it would be more cohesive, but I hope some of the readers do get the gist of what I am saying.
In closing: To the fellow who started this thread: If you have aspirations to be thought of as an artist, price your work with knowledge of the world you are entering. If you have no such aspirations, whatever price you put on it, however low it may be, is fine.
Michael A. Smith