Digital BW, The Print

Interesting or amusing?  I propose the latter.  I have no idea who the
author is except insofar as he introduces himself.  It is rather clear
though that he has little, if any, understanding of economics.

The very value in limiting the number of prints is because without this self
imposed constraint they are infinitely reproducible (discarding the obvious
possibility of the negative or digital image being destroyed or permanently
lost at some point in the future).  It is well understood that any object of
positive utility has greater value/utility if it is in finite supply and
even more value if it is scarce.  So yes a limited print (call it limited
edition or whatever you like) is, all else being equal, worth more than an
unlimited one.  To deny this is perverse.

How and in what quantity one decides to limit reproduction of their work is
entirely a decision which can only be made based on a personal (or mutual
with advice) assessment of a bunch of uncertain variables.  Can you make
enough from just one? Two? Three? Or one hundred?  The market will set the
price after you have made your decision.  What is certain is that an
unwillingness to convey with certainty the fact that you will limit the
reproduction of your image will only lead to the buyer pricing that
uncertainty against you.

How much would you pay for a Mona Lisa knowing there were any up to 100 out
there?  I don't know but certainly less than what you would pay if there is
only ever going to be one.  Now what if the Mona Lisa were readily
reproducible - identically.  How much value is there in having the first vs
the second?  I can tell you I wouldn't pay much if any for No1 vs No2 - the
price differential can only be attributable to ego.  To number prints
without regard to finite volume is largely useless - nothing but cute.
Would you pay a premium for the 1,000,000th Mini out the factory door vs the
1,000,001st?  I doubt it.  But let's say they were a limited edition in hot
demand (like the Ferrari Enzo)?  Might the price rise as the early ones were
snapped up and the end of line was approaching?  Quite possibly yes and even
better if the secondary market was limited (and earlier buyers refused to
sell).

If you are in the postcard business don't limit the prints - afterall you
have to sell a lot of 25p postcards to make a living and there is only so
much someone is going to pay for a postcard.  If you want your work to sell
as art and to establish yourself as an artist of value - limit your work and
clearly convey such intention either by marking the print or attaching a
certificate.  As to the quality and whether there is a ready buyer...well
that you will have to see with time.

> From: Mark Savoia <mark@...>
> Reply-To: <DigitalBlackandWhiteThePrint@yahoogroups.com>
> Date: Thu, 10 Mar 2005 11:44:36 -0500
> To: <DigitalBlackandWhiteThePrint@yahoogroups.com>
> Subject: Re: [Digital BW] limited editions
> 
> 
> You might find this PDF interesting:
> http://www.ctphoto.com/whatsizeistheedition.pdf
> 
> Mark
> 
>