Saturday, July 25, 2009

What price an apple?

I had a few 'aghast' looks at my latest prices so it got me thinking about a way to explain how price x gets to be price x.

The following is a rough breakdown of a price:
Retail price: $1,200.00
- less GST: $110.00
- less Gallery Commission (if applicable): $350.00
- less Third Party Production Fees: $300.00
- less Sundries (Film, Transport, Insurance, Equipment Upkeep, etc): $150.00

Making a total of: $290.00

Assuming that a large portion of the above might be tax-deductible, PAYG tax would be approximately $30.00.

Leaving a 'creative' component of $260.00 per print.

On top of that comes collective costs like the opening expenses (wine, food, etc), gallery rent (if applicable), promotional expenses (printing, postage, pr) and writers fees (if applicable).

More 'sundries' and (occasionally) abstract costs like advertising, training, research, mailing lists, stationery and networking finish off a very brief and by no means concise list.

So... about $0.50 per hour if I sell one image... good work if you can get it!

No comments: