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PRICING....advice do you set your prices?

Posted by aussie.mum none (My Page) on
Sat, Mar 30, 13 at 0:20

Hi folk
I have been making mushrooms, totems, bird-feeders etc and am going to be putting some of them in my local art & craft shop in my town. It's a 'co-op' that sells the wares of craft members, such as jewellery, clothing, cooking, art-works, etc.

My problem is deciding how much to sell each item for. I've seen some prices online and I'm not brave enough to follow suit and put 'high-end' prices on my artworks. But I don't want to sell them dirt-cheap, but it's better to sell than have them sit there. I know that the 'raw products' are relatively cheap but it does take time and effort to get them home and clean them and glue them etc.

So....if you sell you items,how do YOU decide on your prices? Any feedback would be helpful. Thanks :)

Follow-Up Postings:

RE: PRICING....advice do you set your prices?

I don't sell any garden junk/art items, but I've sold other stuff at flea mkt, antique fair, yard sales etc in the past.
You've answered your own question, you don't want to go high end but you don't want to give it away, you just need to put a number on it. So, pick a peice and start. What price would be high end to you? What price would be giving it away? Meet in the middle.
When I did flea mkt I would usually price just a little higher than I needed to get. You can always come down and it gives your customers room to dicker. But it sounds like a different situation at the co-op you probably won't be there talking to the customers yourself. So just be fair. Find a price thats fair to you and fair to the person who wants to buy something. So neither one of you feels ripped off.
Go round and see howthe other dealers (the ones that are actually selling stuff) have their stuff priced. Take in mind what the average patron has to spend. .
Jump in and put actual prices on everything you want to take. Walk away for a while, then go back and look at them like you're shopping and you're seeing them for the 1st time. If you wanted one of the peices would you feel comfortable with the price?
Good luck with your venture. Let us know how things work out. Do you have pics of your creations? Donna

RE: PRICING....advice do you set your prices?

Here's what I do (I"m in MIchigan, high unemployment, yet people still want to buy things for themselves)-

Figure out the cost of the glass- say$6 for all six pieces.
Double that- $12, and then guess at what people will be willing to pay- :)

If I am at least doubling my money, I'm happy- for the ones in the craft stores, I add 25% for the cost of having them in their shop-

Flowers with a copper stem sell anywhere from $10 for the small to $22 for the more expensive pieces, with a longer pipe.

Tall totems sell from $12 -$35- again, depending on the pieces.

Cake plates may sell from $5-$20.

The pros say, double the cost for wholesale, and then double again for retail.
I would not be able to sell anything for that cost here- $30 for a flower...

Just experiement- you'll get the feel for what others will be willing to pay. You also don't want to get stuck with tons of glass with no where to put them- you want to make MORE! :)

RE: PRICING....advice do you set your prices?

Thanks for the feedback!

I have put some items in my local co-op and so far have sold 3 mushrooms and 1 cake stand. The small mushrooms are $5.50 and the Medium mushroom is $9.50 and the cake stands range from $8.50 to $15. Some people have said my prices are too low but I have decided to keep them low so the 'average' person can afford them.

Donna, I do have a pinterest page where I post pics of all my stuff - click the link below. :)

Here is a link that might be useful: Mim's pinterest page :)

RE: PRICING....advice do you set your prices?

Good luck, aussie.mum! Sounds like you have it figured out for your area & for your work. My hubby & I do Farmer's Mrkt & recycle old barnwood into projects like birdhouses, feeders, my Barnwood Blooms, etc. Like my hubby says, we can't 'charge' for all our labor ...they would never sell ... but we just mark them @a fair price & we don't 'barter.' It works for us! Jeanne S.

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