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Can we Dolimited Editions yet?
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November 05, 2009 at 4:20:16 PM
#11
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I would like to try doing some Limited Editions, also. What is a good number to set for each edition? I've done some searching and I'm finding editions as low as 80 and some as high as 500. Should I offer limited editions for each image or just certain ones?
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November 05, 2009 at 6:45:16 PM
#12
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I suggest that you try this with a couple of paintings at first and see how they sell.
Limited editions are generally higher priced than open ended editions.
Buyers will pay more because there will only ever be a specific number of prints
produced. A good edition to start with is 250, but only you can know how well you
expect them to sell...
Personally I would never offer more than 500, and if you go as low as 80 or 50
remember that your price must be higher to reflect the rarity value.
Think carefully about this, and take into consideration the following facts:
1. A limited edition can only be done once. Using the same painting for a second time
will devalue the first edition.
2. A very popular painting can sell out very quickly, so once the limited edition has
sold out thats it, no more income from that painting.
3. If any of your paintings are very popular, they may well earn you more income as
open editions with no limit on the number of prints you can sell.
4. Never offer an open unlimited edition alongside a limited edition, it will devalue the
limited edition.
5. Limited editions are for serious art collectors/investors.
Open editions are for the mass market.
These are a few things to consider, and perhaps some other members will add their opinions.
Colin
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November 05, 2009 at 7:30:10 PM
#13
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Agree with most of this... Though for ALL my pieces I over both open editions and limited editions of the same source artwork. Mine are set at 250, which felt right - 500 seemed too high... There are other options too, sub limited artist proofs 1/10 AP as an example to extend a series and vary price point.
Also it's typical that later numbers in the series can be offered at a higher price point as the 'supply' goes down.
My view is everyone can buy a Chagall print/poster and everyone 'serious' can buy a signed Chagall limited edition, so why would that logic not apply for us. High quality open editions of a given piece do not in ANY way keep you from offering limited signed and numbered editions of the same piece. However, the one caveat is that for your limited editions you lock in on one size and one substrate (canvas, paper) etc. Otherwise it becomes a bit unmanageable.
As I've said in many posts... this is my opinion and there are NO rules. Do what feels right, see how it goes, and adjust as necessary. Heck years ago I was offering editions of 500 and signing the mat in pencil - EGAD! At least we can evolve. :)
Best, John
PS: OMG, just went back in this thread and realized I'd posted almost the exact same advice... I've not decided yet if it makes me consistent or means I breathed in too much varnish while finishing my SF Heart.
Edited by johnkraft About 4 weeks ago.
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November 05, 2009 at 8:11:04 PM
#14
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Thanks, Colin and John. That is really helpful. I started getting this idea after a discussion in the OVA forums. I'm really not having any luck getting people here to my IK site to make purchases. After two years of this, I think I need a different approach.
My personal website already gives me the option to post original art, limited editions and open editions with Paypal built in. So I thought I should take advantage of that & somehow list my prints so that people can buy directly from me, then I could have IK print them, ship them to me, sign them & ship them to the customer. I'm just trying to come up with the best way to do this, using what I have available to me on my website.
One idea I am considering is to offer signed open edition prints in one size on the Enhanced Matte paper. Then I could offer signed & numbered limited edition prints on the Somerset Velvet in one size only. The problem is that I keep changing my mind. I need a plan!
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November 05, 2009 at 8:41:00 PM
#15
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Hmmm... The distinction that we as artists draw between paper type may be lost on collectors. The idea of a signed open edition seems odd to me - almost like an oxymoron.. ya know? I think anything open edition is unsigned unnumbered. period. It's really just prints plus only with archival inks on good paper.
More and more I'm also realizing that at this stage of my career - which I still consider (early) :) it's more important to get work out there than make a killing on LE price points. I bend over backwards to get large signed or unsigned pieces in people's homes. Luckily with my SF Heart I'll get some good free publicity etc. but that not withstanding I'm a big believer in volume.
We all have financial goals, but as artists I have to believe our number 1 goal is having our art enjoyed by the largest number of people possible.
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November 05, 2009 at 9:23:06 PM
#16
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Yeah, you are right about the signed open edition prints. I was just thinking that it would add a personal touch, more for sentimental value. I have purchased prints & given them as gifts to friends & they always want me to sign them, which I happily do. Several years ago, I met an artist whom I really admire & she gave me a poster that she personalized & signed. It's one of my favorite things.
Like I posted in the other forum, I have advertised my work here on Facebook, Twitter, email, website links, etc. for two years & with four sales. I don't think any of those sales are a result of any of my efforts. So I'm just trying to figure out a way to make it easier, more customer friendly, more personal.
Maybe I won't mention the signature, but offer it on an individual basis if the customer would like to have it signed.
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November 05, 2009 at 11:05:48 PM
#17
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Gayle, just to clarify, I assume you're talking about hand-signing? As opposed to digital signing? I always place a digital signature on my images for identification purposes, but of course it doesn't carry the same weight or value as hand-signing.
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November 07, 2009 at 1:03:53 PM
#18
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I'm doing Limited Editions but not through ImageKind. Personally, I wanted to make my LE to be different than my open edition. Somehow, I need to justify to the buyer the $700 price difference between the open edition and limited edition.
To that end, I use Imagekind for my open editions. For limited editions, I invest in engaging a printer to print work that's not available in IK on rice paper. Rice paper, IMHO, brings out something special in my work. So far, this has worked for me. I've sold more of the LE than the OE. Since I'm not rich and I only do art for fun, my LE's are really limited-as in only 5 prints are available. If I'm going to charge more for my limited editions, I personally don't mind investing something more my time and money to have it done since I am charging a lot more than what I'm trying to sell in Imagekind.
I also do original work not available as OE or LE. For that, there's a big price difference between the LE and OE. About $2800 difference. For these, I do a special variation of my work and I print the piece on wood. So far, it hasn't sold yet but it's only been a month since I did it.
Bottom line, I choose not to do LEs with Imagekind. When I do have LEs, I want to offer the buyer something different than what my OEs have to offer.
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December 03, 2009 at 7:31:31 PM
#19
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As an unknown, unpopular, starving artist I am totally against Limited Editions (LE). Lets face it: it's a gimmick that increases the "perceived value" of your work only to a minority of collectors. I mean, if you are an unknown artist like 99% of us, limited editions could actually hurt you more than help. As an unknown you will only limit your sales and exposure.
BUT if you are well known, popular, and in extremely HIGH in DEMAND then it's a different story. In this case, LE's can build your perceived value. Basic supply and demand.
Lets face it, if you are unknown, all L.E.'s do to you is limit how much you can sell; (limiting your income and exposure/popularity) = Hence the Starving Artist.
OD
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December 03, 2009 at 7:59:06 PM
#20
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Posted in reply to odbrush's post
in addition - the point or concept of a limited addition run on certain types of printing came from the fact that there was a deterioration of plate or block material - here there is no such deterioration so that the run number is irrelevant to the quality of the print made - any numbers greater than those made in limited edition runs from earlier times would be in essence of inferior quality - the collectors as well as their perceptions as well as the good fortunes of the artists *(don't forget those poor fellows now) - will have to change with the available technology -
Edited by WalterPaulBebirian About 2 days ago.
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