Pricing of work.

[slotdrag]

I have been asked how much I charge for some of my peices. Just wondering if you all could help. below I've posted a couple pictures. Need to know about a selling price. And also Steve goods sight has key chain patterns what should I charge for something like that?.

Thanks Rick.

[Messman]

Rick,

That is not an easy question to answer. There are many different things to take into account. One of the biggest things to think about (at least in my mind) is the area your in. A peice that sells in one location may sell for $80.00 and yet in another you will be lucky to get $25.00. I would check around your area, specially shows and see what others are charging for like type items. Some will tell you to use a formula to figure out your price, while others will tell you to simply go with what you think your time is worth. Regardless of how you figure your price out, the best thing to do is research your area.

Chris

[Janette]

You might want to check out rules about votives - wood and fire...and all that. Not sure if there are any, but best to be sure. Good luck! Also, there have been many discussions on pricing your work so you may want to go through the older posts - lots of good info there.

[Scrollsaw030585]

Keychains around 3.00 bucks

[Magpie]

I really suck at pricing (like most crafters, I price too low) so I go around to several middle-aged professional shoppers (at least they seem so), tell them my materials cost and time spent on making it, and ask what I should charge for low and high prices. These ladies have never let me down; they always give me good info.

[will8989]

Lately I look at a piece, think "How much would I pay for that?" and then add $20 to the price. LOL

Betty

[justjimmyb]

No matter what the price you set some joker always wants to pay you less than your asking.......................you could give it away and they would ask for more than one!

[miniwoodworker]

So true, justjimmy. Just look at the near riots over free KFC grilled chicken sandwiches.

Used to work at a "junk" shop. Our policy was to give Bibles to anyone who needed one, no charge. Had one woman expect to get one every time she came in the shop. Hated to see her pull into the parking lot as I knew she was going to try to get something for nothing.

[PeteB]

A rule of thumb I heard from an old crafter is five times material cost. I often use this as a pricing formula when I am in a down and dirty competitive bidding situation for something not covered by my market-based price lists. If it gives me a decent hourly rate, I'll fly with it. I usually get the jobs but sometimes I don't, so I think it puts me in the ball park.

[Scrolling Days]

An interesting idea for handling a thread like this would be to set up an anonymous poll. Is there a way of doing that on this board (ie when someone starts a thread, can they start a poll with it? I'm on a sports message board and we use that function quite often). Crafters who are interested in knowing what their products might fetch could post images and then ask people to vote on what they think an appropriate price would be. I think people would be hesitant to offer valuations otherwise with the fear they might offend if it seems too low by the crafter.