Selling Photos Online: Setting Prices

As a photographer it can be very difficult to know exactly how much to charge for your photos when selling photos online. This is made even more confusing because everyone on the Internet seems to be selling their photos at different prices.

Quite simply, the right price for your photos will depend on how much people are willing to pay to purchase them. Figuring out what price to set can be challenging because everything is related to supply and demand. The mathematics behind this can be inaccurate and confusing. So how do you know how much you should charge for your stock photography?

Step 1 - Doing Research

The first thing you can do to work out how much your photos are worth is by looking on stock market web sites. The prices on stock market web sites will vary quite significantly, therefore you must do research to find the optimal price to charge for your photos.

Your photos will be worth less if they are not unique. For example: if lots of people have exactly the same photo, then this type will not be as valuable. More competition for these photos arises from the similarity of the supply, which will mean that you can't charge as high a price as you might want to. Do not be concerned, instead make sure that you have a plentiful variety of other photos to sell.

Step 3 - Repeatability

If someone can visit the same location and capture the photo again, then the pictures taken there will not be as valuable. If you can capture events which cannot be repeated, such as the destruction of a landmark building or the sinking of a well known ship, then your photos will be harder to duplicate and therefore more valuable.

Step 4 - Don't Undercharge

The most important thing to do is to resist undercharging. Charging less than your competitors might seem like a good idea and a great way of getting more customers, however eventually it will cause damage to the whole industry and result in lower prices all round.

Step 5 - Considering Your Customers

When selling photos you should consider the people that you are selling the photos to. If you are selling photos to a large company then they will probably be able to afford to spend more, whereas a smaller or non-profit organization would be looking to pay a lower price. Consider the budgets of your customers when trying to set a price for your photos.

It's impossible to set a price list in stone because everybody will have different prices depending on the type of photos they are selling. Don't worry if your prices are vastly different to other people on the stock market web sites.

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