rogue_designer said:
Jon - I find that the lower the price is on a photo, the more people complain about it.
I've never understood why - I suppose it's a perceived value thing. For an experiment, next time you have a show multiply your price by 5 or 10x and gauge the responses.
I think you'll be suprised. Worst case scenario you still don't sell any. Best case, you do, and you attract a less price concious clientelle who won't gripe over paying more than materials "cost" for a piece of art.
There's a lot of logic to this. Many years ago, when I did more writing, I wrote a magazine article in which I interviewed local artists about how they priced their work. One of the most interesting was a young painter who was already quite successful and since then has become even more successful. He had thought a lot about this and had several interesting insights.
One was that when he was first getting started, he did NOT price his work low to "build a clientele." Instead, he surveyed the market, noted the prices asked by the highest-priced, most-established local painters, and then priced his work just below theirs. He said this was his way of showing potential buyers that he considered his work to be of the same caliber as the top guys; if he had priced his paintings too low, they wouldn't have had confidence in them.
He also said something that ties in with the comment above about attracting the right clientele. The number of people who actually buy paintings is fairly small, he said -- but the people who do buy them have the ability to pay, and they aren't especially price-sensitive. They're happy to pay $5,500 for a painting they like a lot, rather than $3,500 for a painting they don't like as much... so you might as well price it at what you think it's worth, rather than discounting it in hopes of luring buyers.
A third point he made that's similar: "You never want to be the cheapest painter in town." He explained that if you let people get used to thinking of you as, say, a $500 painter, it's going to be really hard to make the step up to being a $1,500 painter or a $3,500 painter. The customers who were buying your $500 paintings aren't going to be able to afford you anymore, and the customers who can afford $3,500 paintings aren't going to spend that much money for the work of someone they consider a $500 painter. You have to figure out where you belong in the price spectrum, and then position yourself there right from the start.
It's very hard to apply that excellent logic to selling photography, though, since in most parts of the country it lacks perceived value except as "wall decor." I used to be in a gallery run by a lady who was trying very hard to develop a fine-art photography market, but she just couldn't get any traction. A veteran of the industry told her that in most parts of the country, the only photos that sell are flowers, landscapes and nudes; the first two categories go on the wall, and the third into "private collections" for the owners' personal jollies. Even within those three categories, she was told, most people won't pay much more for an original print than they'd pay for a poster, so the only way to make it work is to stick to the obvious and sell in volume. She didn't like that, and neither did the artists she represented, but after bucking reality for a couple of years she had to fold her tent. Sad, but I think that's still the reality except in a handful of "sophisticated" art markets (where they're vulnerable to other ailments, such as susceptibility to trendy trash.)