By Wayne Hoover in Lexington, KY
- Know your cost…this includes your camera equipment, printing costs, travel time, insurance, the value of your time, and your profit. I always double my material costs (i.e. if an image costs me $100 to get enlarged and printed on mat board, then I figure in $200 for the materials.)
- Determine whether or not you, the designer, or the client is going to have the image framed. That can add another considerable cost. Generally, I will charge at least $500 for a framed image – more if I build the frame out of reclaimed wood.
- If you're working with an interior designer, get their input on the price point. They should know their client and can guide you.
- Do some comparative analysis to see what others are charging, but don't base your price solely on this.
- Never base your price on what YOU would pay!
- If you underprice your art, people won't value it. My first sale was to a client that wanted five 24” x 36” architectural images of her hometown for $2,500. The second client wanted a history of their life depicted on various canvases plus some architectural and food images for the kitchen – sale price $3,000.
- Don't compare your work with what is offered at local stores or on-line, because most of that is reproduced in China. Offer something of higher quality and you'll be off and running toward making your business a fun and profitable venture.