If you are looking to make money from your favorite snapshots, it's important to learn the ins and outs of photography pricing quotes.
The Challenges of Pricing Photos
Pricing pictures is one of the most daunting tasks amateur photographers face when trying to turn their hobby into a moneymaking opportunity. Years ago, individuals looking to sell their photos would simply turn to a price chart to obtain a quote. But, with the advent of digital photography and the explosion of online stock photo websites, simple price charts are no longer 100 percent reliable.
Establishing Pricing Policies
Pricing policies are critical because most clients have numerous requests that cannot be written into a standardized price chart. While it is wise to have basic pricing policies in place, it's unreasonable to expect all potential buyers to adhere to a single price chart.
You should aim to sell your photos at a price that you can live with. Price your shots too high and you won't get any buyers. Price them too low and you will never turn a profit. Typically, fees are quoted based on specific use including:
- Photo size
- Distribution (local, national, international)
- Length of display time
- Uniqueness of the image
- Cost of production
Unlike other professions, photographers are rarely paid similarly for the same work. How much you earn for an image or a license for a photo depends on how well you negotiate. The focus of negotiations with potential clients should be on the perception of value. You're more likely to garner a higher fee for your snapshots if you understand the sense of value the client has for the use of your photos. Numbers alone don't amount to much if you can't convince your client that your image is worth what you are asking. Determining what's important to a potential buyer before entering into negotiations will allow you to establish a fair asking price.
Tips for Photography Pricing Quotes
Whether you are approached by someone looking to use your photos in a textbook, on a website, in a print ad, brochure or leaflet, it is important to have some type of pricing structure to refer to. If you are just getting started in the business and don't have a clue about photography pricing quotes, then consider the following helpful resources:
FotoQuote software is considered the industry standard for pricing photography. It is the leading package among amateur and professional photographers to help determine photo price quotes. The comprehensive computer program allows you to select the usage time frame and photo size requested, along with several other factors that help insure that you get paid fairly for your work. In addition, fotoQuote helps you set fair image license fees and provides negotiation information, which can help you close a sale in record time.
Currently, fotoQuote is the stock photography pricing standard in North America. The company prides itself on completing extensive research of actual sales records from thousands of agencies and individual professional photographers. It then lists this information on a comprehensive price grid for amateur photographers to use as a guide for selling frame worthy shots.
Stock Photography Price Quote Forms
Several companies offer online stock photography price quote forms. You can get a feel for what your pictures may be worth by filling out one of the following forms:
- Pricing Guide Books. Provides tips on how to compete in the world of photography and includes advice on marketing and selling your best shots.
- PhotoSource. Features helpful tips on how to price photos in editorial and commercial markets.
- Stock Photo Price Calculator. Simple tool that helps generate fair photo price quotes.
Photo Pricing Summary
Successful photo pricing results from knowing what your client wants and mastering the fine art of negotiating. The digital photography boom has reshaped the photo industry by driving up supply, which is why it is critical that you price your pictures fairly in order to make sales.
In the photo business, your images are your assets. Selling them is the only way you can turn your passion into profit. By considering the aforementioned tips, pricing your photos will be a snap.