Licensing a photo when the buyer says "name your price"
Got an email from a website wanting to use one of my architectural shots. They're offering to pay actual money, which is a nice change from the usual "we'll give you credit" pitch. But they want me to set the price.
I've never been great at this part. There's a difference between knowing what a frame is worth compositionally and knowing what it's worth commercially. Usage terms, exclusivity, how long they plan to run it, the size of their audience. All of that should factor in, but I don't have a reliable formula.
For those of you who've licensed images or artwork to websites or publications, how do you arrive at a number? Do you work from a rate sheet, calculate based on usage scope, or just go with gut? Curious what's actually worked in practice.
One thing that helped me in a completely different situation (negotiating studio space, not art licensing) was letting the other party throw out a number first, even when they asked me to name one. I basically said something like, "I know rates have shifted a lot lately, so I'd love to hear what fits your budget for this kind of usage." I genuinely expected them to lowball me, but they actually came in well above what I would have asked. Giving them room to make the first real offer, while showing you understand their constraints, can land you in a surprisingly comfortable spot. You might find that their idea of fair is more generous than yours, especially if they already came to you willing to pay. Worth a shot before you lock yourself into a number that undersells the work.