Fine Art America print pricing for 2019

Way back in 2015 I did some research on the pricing of images that had sold on Fine Art America. I’ve stuck with that pricing ever since and I have had sales as I report here, but am I leaving money on the table?

Senior man counting cash into piles

So I decided to repeat my research and see how pricing of a representative sample of images that had sold this week on FineArtAmerica had changed. What I found was intriguing! There were definitely sellers that had significantly higher prices than the ones I am using, and large sellers like the New Yorker magazine for their front covers were higher still. I see sales for those magazine covers every time I go to FAA, so the higher price is not putting off the buyers. I looked at 25 sales that were somewhat similar to my images. They all had to be photographs, mainly travel or landscape and of a quality that I felt matched my own uploads. For the 25 sales, I checked their pricing for prints only for 8 inches, 20 inches, 36 inches and, for some, 60 inches. The resultant table looks like this:

Sale prices of images on Fine Art America

I calculated the average price and the median (the one in the center if you ordered them from low to high). What you will see is that there is a large range. Not so much for the 8 inch prints (although that goes from $15 to $42, but as you get to the larger sizes, the range of prices broadens significantly.

I decided to plot these out on a graph:

Chart of pricing of prints on Fine Art America

The bottom axis is the price and the vertical axis is the number of contributors that chose that price for 8, 20 and 36 inch prints. These are sale prices, not the margin the person is looking for. This graph really shows how wide the 36 inch range gets – from $95 to $340 or so. And these are not just sitting in the database somewhere, someone has paid this plus extra for framing and delivery.

My old prices were $27, $75 and $142. Not bad at the low end, a bit low in the middle and way out of line with some of the competition for the larger prints. After mulling this over I decided I could try some new pricing around the three price points of $28, $95 and $190 and settled on this table:

New pricing on Fine Art America for prints in 2019

The center column is the one I will enter into the site and the price shown to the customer will be the one on the right.

I haven’t actually done this yet – I wrote to someone on the FAA site who had some of the higher prices to ask if her sales were impacted, but she didn’t reply… So should I pull the trigger and put these new prices into effect? Anyone got experience of higher priced sales on the site?

 

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6 Responses

  1. Another great post from the master! As a FAA seller too, I am contemplating raising prices in early 2019. I appreciate your analysis and posting of it.

  2. Daniel Lange says:

    Haha, thanks a lot for this Steve! Following some advice from Alex, I wanted to take some time over the holidays and put my work on FAA for sale but wasn’t totally sure about the pricing. But I remembered that you wrote something on that a long time ago, opened your website to find the old post, and – voilà – you just posted this! How is that for good timing?

    • admin says:

      Perfect timing. I have adopted this pricing now although I entered each margin with $1 less for each one so that the final price would end in 9, like $69 instead of $70.

  3. I was going to start off the new year not only rethinking my pricing, but finally getting around to populating my FAA site more. I’ve been holding off any of this while I think it all through. Then I remembered I had bookmarked your site months ago. My surprise when I found this article. Perfect timing.

    I had done a similar thing months ago and tended toward the low end. Based on your calculations, I headed more towards the middle as the sizes increased. I think it’s fair in the long run.

    Thanks for the timely info.

    • admin says:

      Hi Ken

      Glad the article was useful! I haven’t sold any prints in December, although my sales were so variable that I’m not sure that it tells me anything!
      Steve

I'm always interested in what you think - please let me know!