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?
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:
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:
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:
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?