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Pricing (Read 2,322 times)
 
Ed Weber
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Pricing
Dec 5th, 2013 at 1:45pm
 
I need your help.  Smiley
I am horrible at pricing items and I know it's hard for others as well without seeing a piece in person. That being said, I want to know how much to charge for this. Any ballpark range will be fine, or maybe direct me to a site with similar items so I can compare. I would really appreciate any help you can give me.
Myrtle & Katalox lidded box
7 1/4" x 9"
Thanks in advance
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JimQuarles
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Re: Pricing
Reply #1 - Dec 5th, 2013 at 2:23pm
 
Ed, the price will vary depending on how and where you are going to sell it.  The prices would be very different between a gallery, a craft show, Esty, & eBay.  What I get for my pens doing trunk shows at senior communities is generally higher than others are selling them for at craft shows.
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Ed Weber
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Re: Pricing
Reply #2 - Dec 5th, 2013 at 3:05pm
 
JimQuarles wrote on Dec 5th, 2013 at 2:23pm:
Ed, the price will vary depending on how and where you are going to sell it.  The prices would be very different between a gallery, a craft show, Esty, & eBay.

That's my problem, trying to find a fair price with all those things to consider.
This will be a private sale, but it's hard for mr to figure what to charge with out over charging or taking a loss. You know all the pitfalls of coming in too high or low.
Thanks though
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JimQuarles
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Re: Pricing
Reply #3 - Dec 5th, 2013 at 3:21pm
 
With that wood, the style, and your workmanship, I would not hesitate to ask $150 or more.
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Ed Weber
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Re: Pricing
Reply #4 - Dec 5th, 2013 at 3:26pm
 
Thanks for the compliment Jim.
That's kinda the figure I'd been thinking of, I would like some others to chime in on this if they don't mind.
Thanks again.
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Re: Pricing
Reply #5 - Dec 5th, 2013 at 4:56pm
 
Jim is right on - it depends upon the venue. 

I recently took two pieces to a gallery that agreed to market them.  I had put prices on the items (including the gallery commission).  When I got there they talked it over with me.  They wanted to increase my asking price by 400%, we settled on tripling my prices (it does not mean they will sell).

Their point was, “this is a gallery, not a craft fair”.

I do hope they move as I need to clear out some shelves more than I need the $ (but the $ wouldn't hurt  Wink).
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Re: Pricing
Reply #6 - Dec 7th, 2013 at 7:45pm
 
If treated as a part time job or artisan activity, cost of materials + (# hours in the job times $40 per hour minimum).  If treated as craft work, whatever you want.  People who value skilled work may have significant reservations about work priced as craft even if excellent work; excellent work sold at craft prices may not be given the respect it deserves.
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Ed Weber
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Re: Pricing
Reply #7 - Dec 7th, 2013 at 9:04pm
 
Don Stephan wrote on Dec 7th, 2013 at 7:45pm:
People who value skilled work may have significant reservations about work priced as craft even if excellent work; excellent work sold at craft prices may not be given the respect it deserves.

So it's a distinction without a difference, right?

Thanks, I really do appreciate the info, even if I don't fully understand it sometimes.  Roll Eyes
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Re: Pricing
Reply #8 - Dec 7th, 2013 at 11:48pm
 
Ed when I deal with an individual customer I have two prices ready for each piece. (I don't tell customers that of course) The price I would like to get and the price I will take. I have learned you can always reluctantly go down a little in price if they really are interested in it, Some customers like to feel they are getting a deal because of their great skills at purchasing. Since the price I will take is actually the price I want for it, if I do feel to go down from my fantasy price (I usually don't) I am still getting what I wanted but they think they are getting a deal. IMHO  it works I know.
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Ed Weber
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Re: Pricing
Reply #9 - Dec 8th, 2013 at 11:04am
 
Let me clarify, this is not about haggling.
I know their are little formulas and "rules of thumb" for bowls ($10 per in of diameter), that type of thing. I was really wondering how to come up with the initial price for a piece like this.
How (if at all) do you factor in the size, wood species, time, etc... I have seen things close looking sell anywhere from $50-$500  Do you come up with a bare minimum and triple it, or what. Or is it done be section on something like this,
7" bowl -$70
Burl lid with finial -$?

I'm trying to figure this out so maybe I don't have to ask you the same questions after the next one. Roll Eyes
Is there a book called "the art or pricing", that would come in handy right about now.
Thanks again
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Re: Pricing
Reply #10 - Dec 8th, 2013 at 12:06pm
 
Actually, the solution is simple.  What will the market bear?  If it is a private sale to a friend, you are probably good in the $150 range.  If it is a casual acquaintance, I would probably go up to the $175-225 range.  If it isn't someone you know, it could be considered like a gallery sale and go $250 or higher.  You don't want to under price your future market.
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Ed Weber
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Re: Pricing
Reply #11 - Dec 8th, 2013 at 12:22pm
 
Thanks Jim, you definitely hit on some of what I'm getting at. I'll get it one of these days.
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Re: Pricing
Reply #12 - Dec 8th, 2013 at 12:28pm
 
Example. When I make plain wooden SlimLines, I price them at $35 at shows.  For friends I ask $20.  Acquaintances pay some where in between, depending on how well I know them.
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Ed Weber
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Re: Pricing
Reply #13 - Dec 8th, 2013 at 1:20pm
 
JimQuarles wrote on Dec 8th, 2013 at 12:28pm:
Example. When I make plain wooden SlimLines, I price them at $35 at shows.  For friends I ask $20.  Acquaintances pay some where in between, depending on how well I know them.

So then do I assume family would be $45-$50  Grin
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Re: Pricing
Reply #14 - Dec 8th, 2013 at 1:24pm
 
Whatever the market will bear.   Roll Eyes Roll Eyes
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