A company has contacted me about licensing an existing vector artwork that I have. It would be used architecturally, not commercially, so I am a little stymied on pricing.
The artwork will be used by this company on screens throughout their building, not on any of their products.
How do you price something that is already finished that will be used and altered for non-commercial usage?
I think there are two things you need to think about while coming up with your price.
How much work went into the vector originally? Is it a very complicated piece, or a small piece? Obviously you could give a discount for something you still had 'laying around' but you still put time and effort into it.
What is the purpose of the 'screens' you say they are using? Is this a commercial building? (ie, a restaurant, hotel etc) or will they purely use it as decoration for their office? If they will be (indirectly) making money with your artwork, you should keep this in mind while coming up with a price.
Depending on these factors, you can charge your hourly rate and a percentage for commercial use, possibly affected by the scale of the commercial use.
Before deciding on a final price I would ask them what it would be used for, how many things will it be on, the more things that it will be used on the more you should charge(in my opinion). I would also ask what will they edit, sometimes you can get a little more out of something if you are able to make the edits that the customer needs.
In my experience I have priced things 2 ways:
First being by how much it is worth to me I usually consider how much time I have put into something, figure out how much my time is worth and then add a little more onto it.
Second is I ask the costumer what they think its worth and if it seems fair I'll agree with them.
