Re: Limited editions
2004-05-24 by houston.spencer@alcatel.com
Richard: The quite sensible comment has been made that: "Galleries generally advise artists to do limited editions. I would take this advice with a little salt because they have a conflict of interest when giving it. Galleries want artists to produce small editions sized to what they can handle." That's all true, and for good reasons. Few of us have met gallery owners that are making a killing. There is another constituency that is attracted to limited editions, however, and that is a certain type of buyer. They see the limited edition as a kind of guarantee that the value of their print will not be diluted beyond a certain point, set by the limitation of the edition. These buyers pay a premium because of this, whether it is explicit or implied. Hence, I believe, an earlier poster's statement that extending an edition could be unethical toward your previous buyers. There are those who say that neither educated nor passionate buyers will care whether an edition is limited. There's certainly a portion of the buying public that does care, however, and I wouldn't want to cut them out of my potential market. I suppose it depends on the profile of your likely buyers. To consider only 'open" or "limited" editions as your only options, however, misses some of the clever marketing and pricing being used by some prominent art photographers and galleries. They limit the editions, then charge on an increasing curve as the edition sells. So, all prints are made in one edition. Print number 1 sells for a stated price, then each print thereafter becomes more expensive than the previous one sold, on a chronological basis. This is makes supply-and-demand explicit, giving the artist more of the benefit of an image's popularity, while allowing collectors to get in on less popular images at lower prices. The price curves can be *very* steep as the edition gets toward its closing numbers. This is occasionally combined with the marketing technique of making posters of the top selling images. In this way, the "limited edition" of original prints is kept intact, but you can still make money selling the most market-proven images in poster form. Whatever decision you make, I hope you sell heaps. That, combined with living in godzone would make you the envy of many of us. --h ...having an un-lurky day