One of the most frequently asked questions by those that are interested in selling photos is “What are my photos worth?” Pricing is always a challenge. One thing is certain… price varies depending on the type of sale you’re pursuing (stock, fine art, etc.) and a variety of cascading options. For fine art photography the process is a subjective one based on your interpretation of the market, unless you’re work is being featured at auction where buyers clearly set market value. I’m no pricing expert, but for myself I tend to look at my peers and stay in touch with the general trends in the market place.
Funny thing is that fine art pricing usually leaves photographers scratching their head when they hear news of high priced sales. I had this type of moment recently when I found out that the highest price for a photo by a living artist reached $3.3 million dollars this past February 7th. What was this photograph of and who was it by?
It was by a relatively unknown photographer by the name of Andreas Gursky. His diptych photo of the interior of a 99 Cent store aptly titled “99 cent II, Diptych” was the image of someones desire.
The First $3M Photograph – American Photo
More information on Andreas Gursky via Wikipedia