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Lesson 34 Selling Stock´s archives ↓

Lesson 34: Page 01

Lesson 34: Page 02

SELLING YOUR STOCK PHOTOGRAPHY

Your phone has just rung from a prospective client who wants to buy one of your images for a specific use. If you are new to selling your photography your first thought may be “now what do I do”? As a stock photographer, we hope to sell our images and generate some income. This helps offset equipment costs, allow further adventure, or pay the household bills. Whatever your financial need, the skill of negotiating licensing fees for usage of your images can be intimidating as we never want to lose a sale. But, with a step by step approach simplifying the process, you can easily determine a fair and justified fee.

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Lesson 34: Page 03

If you were with a large agency back then, you could use a rough estimate of earning $1 per month for each image in an agency file.  Now it is closer to 10-20 cents per month, per image, and current data may no longer support this.  Keep this in mind when deciding the best way to market your imagery as making good money from your stock photography boils down to the art of negotiation!The content you are trying to access is only available to members. Sorry.

Lesson 34: Page 04

Here is the same photo in two uses, one for a non- profit private school and the other for a shopping center. The private school piece is a brochure, limited visibility, non-profit, and 15K print run. License fee $400.  The advertisement is for a shopping center with a time limit to run in local magazines of 3 months. License fee $825.00

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Lesson 34: Page 05

This happens when a buyer wants your photo, for whatever reason, and may be willing to pay more to get it. Evaluate your work and compare it with similar work in the market to give you an idea of where you fit. Look at your competitions websites as well as the large stock agencies to see what they represent.

If you find plenty similar to yours then you have lots of competition but if you find little if any, then your rare or unique work should bring in more money. The steps to effectively establish a fair price can be described by the Who, What, Where, When, and How concept.
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Lesson 34: Page 06

How is the image going be used?

How the image is going to be used is the first important consideration. Will it be used in an advertisement, an editorial spread, a brochure, a website, textbook, billboard, or many other potential uses?The content you are trying to access is only available to members. Sorry.

Lesson 34: Page 07

Advertising is designed to continuously generate income for the client as long as the ad is running. Ads are higher profile and have more views, like web page views, so the more page views or the greater the circulation, the higher the value of the usage. An identical ad running in a national magazine has a higher value than the same running in a local magazine.The content you are trying to access is only available to members. Sorry.

Lesson 34: Page 08

Whatever price you establish should be based on your image qualities, the market for that usage, and then input from the client about their budget. Hopefully there is an acceptable range for both you and your client.

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Lesson 34: Page 09

How Unique is the Image?

Good selling images often are unique in some way, some more and some less. The usage of a one-of-a-kind image is certainly more valuable than the usage of an average image taken on an average day. What makes an image unique may be in the eye of the beholder, but the photographer with plenty of market experience understands the difference.

A beautiful image of a Rose flower may be unique to the photographer who created it and no one else. Yet the photographer who happens to capture an image of a tornado carrying a red barn across Kansas has no doubt created a unique image.

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Lesson 34: Page 10

If you flew to Africa, hired a safari guide to take you into the outback, you have greater production value than going to the zoo or game park. Be sure and consider what it costs you to create an image and consider that in your prices. However, if you live in New York and travel to Utah to shoot Delicate Arch, you may have trouble quoting and additional 50% to your quote as “production value” because your competitors who live closer will not consider that.

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