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priceing my work (Read 1,291 times)
 
Curtis Warstler
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priceing my work
Sep 30th, 2013 at 6:10pm
 
Ok guys i have been invited to join my sister at the pagan pride fest in colorado on Oct.12 th. I will be takeing some of my pieces for display, an possiable orders/sale. My question is how do i set my priceing? I dont want to be to high but at the same time i dont want to low ball myself either. I am takeing a couple wands my inlay bowls, possiably some hairsticks as well.

We are going to feel out this show since my sister has the booth space. I was only invited because shes using all my stuff for the set up Roll Eyes tent table etc.... if i get some orders we will set up next year in force.

Any an all help appericated,

Curt
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jim wiltse
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Re: priceing my work
Reply #1 - Sep 30th, 2013 at 7:30pm
 
pricing is tricky, sales can be tricky at events.  Certain crowds buy and have interest in certain items. Pricing can depend on how much you want to sell compared to how much you feel your work is worth. I'm learning that craft fairs can be funky business, BUT they can also be used to get your name out into the world. One idea might be to make up a high and a low price for the item your selling. That way you can have some leeway in pricing.
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Don Stephan
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Re: priceing my work
Reply #2 - Sep 30th, 2013 at 8:07pm
 
You won't know who you are pricing against until you see the other vendors.  I've been to a "juried" show where there first turner I saw was asking $8 for a nicely turned 8" bowl with a high gloss finish.  That's when I decided never to do another show as I have to pay rent, utility bills, business insurance, living expenses, that hobbyists don't.

Having finished my rant, you also have to consider what the people attending are expecting to find.  If they expect to find trinkets, they will have a lot of price resistance. But if they expect to find high quality work, they will be suspicious of low prices.
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JimQuarles
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Re: priceing my work
Reply #3 - Sep 30th, 2013 at 8:31pm
 
As Jim said, mark it with what you would like to get and also consider a bottom price.  That way if you have something marked $25, and someone asks if you would take $15, you could come back with, No, but I'll take $20.  But you have to know your bottom line, and don't go under it if you expect to ever make any money.

I sell SlimLine pens from local wood for $35, and if someone asks for a lower price, I'll drop it $5.  If it is a pen over $50, I'll allow $5 or 10.  Frequently I'll post a sign, "Buy 2 and save $5, Buy 3 or more and save $5 on each one, Buy 6 or more and save $8 on each."
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Steve Doerr
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Re: priceing my work
Reply #4 - Sep 30th, 2013 at 10:42pm
 
Curtis,
For my turnings I usually charge $10 to $15 per linear inch of width.  A lot also depends on what wood is being turned.  On my pens, I usually go at least 2x's the cost of materials with an additional amount added on top of that amount.  For example, my ballpoints (Sierra, Cigar, & Pitrizio) sell for $50 each.

Hope that helps.
Steve
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Curtis Warstler
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Re: priceing my work
Reply #5 - Sep 30th, 2013 at 11:14pm
 
Thanks guys it does help a bit. I was kind of figureing marking up my blank x2 or even 3 times. For example my african black wood wand. It cost 15 for my blank, x2.5 i get 37.50 for the wood. Then figure in 1.5 hrs at 20 per hr. And i get 30, for labor. So add it up an i come up with 67.50. I figured priceing that wand at $65 would be ok. Of course if tne wood cost changes then so would price. Now steve the bowl i sent you, going out on a limb but do you feel asking $55-60 to be to much? Please look at it from the perspective of a buyer an not a turner. It is a 5" dia sweet gum bowl with a real crysacolla inlay.

I figure my real stone inlay bowls same 2.5 times for wood cost, then 20 per hr labor. Does that seem to low?

Thanks for the help guys.

Curt
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Robert Tewart
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Re: priceing my work
Reply #6 - Oct 1st, 2013 at 2:29am
 
Karen and I have found that having small items for impulse buyers is a good idea. We try to have items that we can make a profit selling at $5 to $10.  One thing we make are deer antler keychains we sell for $8. Each has about ten minutes time and $1.25 in materials. We find that small sales will often lead to larger ones.
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Bill Neff
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Re: priceing my work
Reply #7 - Oct 1st, 2013 at 9:00am
 
Pricing is hard without knowing the audience.   I sell magic wands (pretty simple and basic about 12" long out of scrap pieces) for $10. Since this is a pagan pride event, and you're using exotic woods you could probably go $30 and up for a wand (google wiccan magic wands).    For bowls I sell for $30 (6x2") on up.  Like Robert I always like to have some inexpensive items for impulse or for the kids that often lead to other sales.
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Al Wasser
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Re: priceing my work
Reply #8 - Oct 1st, 2013 at 9:49am
 
There are a lot of "craft" shows here on Colo. that allow just about any entry.  A lot of the stuff is factory made or from Mexico.  If you land in one of those then don't expect much.  People seem to want the cheap junk and not the quality crafts.
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Curtis Warstler
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Re: priceing my work
Reply #9 - Oct 1st, 2013 at 10:27am
 
thanks bill. Yea I want to take some $10-20 scrape wood wands. I have some maple and some other stuff floating around. Also if this pans out I want to find some mini plumb bob kits and make pendulums as well. I am really just testing the waters but want to have a little product just in case.

Also how do you all work Custom orders. I was going to put my policy as 50% non-refundable down, an remainder due upon completion. Is this still considered a common practice.
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JimQuarles
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Re: priceing my work
Reply #10 - Oct 1st, 2013 at 11:25am
 
If what is being ordered is readily saleable, I don't take a deposit.  If it is something really unusual, I will ask for a deposit, but it is only nonrefundable if they decide to back down on a well made piece when finished.
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Steve Doerr
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Re: priceing my work
Reply #11 - Oct 2nd, 2013 at 8:20am
 
Curt, I would put a price on the piece I got from you of $40 to $45.  If there was more character to the grain I think you would be able to get $50.  HTH
Steve
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Tom Coghill
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Re: priceing my work
Reply #12 - Oct 2nd, 2013 at 9:37am
 
Just this past week I got accepted into a show at our state museum.  The show runs a yearlong and will travel around the state, moving every few months to new museum venues.  They are asking me for the price of my two accepted turnings.....

I realized that I first needed the info on the prices of the OTHER items in the show.  Mine are the only turned items, the other entries fall under that category of "Earth, Fire and Fibre", so we are talking everything from a finely done quilt, to high end hand crafted furniture to intricate ceramic sculpture.

All this boils down to "Know your Audience" and "Price to be in line with Others".  Bring extra tags with you to the shows so you can change them out  Huh  Also provide a single page bio to go along with all your turnings (complete with contact info so they can contact you again later to buy more) Thumbs Up

PS - also know your "overhead".  The museum takes %20 of every sale.
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Terry Jackson
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Re: priceing my work
Reply #13 - Oct 2nd, 2013 at 7:55pm
 
Tom:
threeguysnowood.com has some samples and prices from the Kenai.  They seem to sell a fair amount in their store every summer.  They also have a Facebook page.
Terry
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