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Imaginarium, 1st Edition by Claire Rosen

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RESOURCES AND RESEARCH | Budget

Determining the budget—how much you should be compensated for your images and how much it will cost to create them—is one of the most challenging and inconsistent aspects of the business of photography.

Two financial frameworks dominate professional photographic work today: commissioned/on assignment, which is work that you are paid to create at the request of a client (individual or company), and fine art/personal on spec, which is self-generated work with the intention of selling the image(s) through a personal site, gallery, dealer, agent, stock website, publication, etc. In some cases, commissioned work can have a secondary resale value as fine art or stock imagery, depending on your arrangement with your client. ...

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