Pocketstock has created a new pricing strategy call Bidder that enables each customer to establish the price he or she is willing to pay for a royalty free image.
After choosing an image the customer is shown the list prices for various file sizes and given the choice of purchasing the image instantly at that price or bidding a lower price that the customer finds more satisfactory. Customers are asked to explain why their lower price should be accepted.
When a customer offers a bid Pocketstock promises to review it and make a decision as to whether or not to accept it within 24 hours. It appears that any bid that is at least 60% of the quoted list price has a “possible” chance of acceptance. Bids that are less than 60% are listed as having a “minimal” chance of acceptance, but presumably might also be accepted under certain conditions. Virtually all Pockstock prices (except for a few for the smallest uses) are negotiable.
Pocketstock offers images from microstock producers as well as from many of the major royalty free production companies that price their images at traditional levels. High level professionals and production companies have a say in the level at which their work will be priced. Currently, prices on the site seem to range from $3.75 to $659.00.
One of Bidder’s big advantages for customers compared to the credit systems used on existing microstock sites is that customers only pay for what they use when they use it and don’t end up with a number of credits on account that they may never use.
Photographers interested in contributing to Pocketstock can get more information at
http://www.pocketstock.com/become-a-contributor. The company also provided a series of
instructional videos that many photographers will find useful.
Pocketstock was launched in 2012 by Russell Glenister former image100 CEO. It is headquartered in London, UK, and has offices in New York City.