The Sticky Topic of Pricing

Started by ♥♥Tan♥♥, May 25, 2010, 06:17:41 PM

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Magpie

A tip for the newbie sellers (like me) and pricing too low. Now I've sold a few, only a few, beads and I'm thinking my beads are worth more, I've just been asked to make another pair to match a set I sold back in January. The same lady asked for a pair about an month ago, I looked up the original set of 3 lentils (she wanted a pair of the smaller ones) and basically cringed at what she'd paid for the original set as my idea of what my beads are worth had progressed and there's no way I would charge that amount now. So I split the difference between what I think I might charge now and what I charged then and she paid that. Now she's back for another pair for a friend who's seen the original ones and is in love with them.
So beware of pricing too low to start out with (though I'm sure we all do/did, just because it's a confidence thing) for when people come back to you a few months later (when your confidence has grown a bit), because how much can you increase your prices in that short a time?

LittleHen

In doing your calculations I'd be wary of saying you work 40 hours a week realistically I would estimate that in an 8 hour working day you would only be able to do 5 or 6 hours of chargable work, I used to do freelance editing for some journals and could only ever get 5 hours of chargable work done, solicitors do something similar I believe. So be warned I worked out how much I was actually earning I had to double my rate!

Krysia@No98

Quote from: hexefroschbein on May 27, 2010, 02:28:08 PM

...Keep a spreadsheet...


Put it in a data base - Far easier to manage, and harder to screw mess up!!  Also if your computer crashes far more of it will have been saved!  ;)

Cor, this thread has given me loads to think about
-* -  Courage is going from failure to failure with out loosing enthusiasm -*-

ejralph

So glad (and flattered) that many of you found my pricing article useful.

Lynn, I think you are absolutely right in your attitude - there IS only one Lynn Davy or indeed only one of each one of us. So we should be valued more than factory-made nonsense!

It is hard to put yourself out there though at first. There is the famous great British reserve that holds many of us back.

If someone tells you your work is "too expensive" - well, they are just bloody rude. What business it is of theirs to offer opinion on your pricing if they haven't done the maths?

As kaz says, that is SO different from a person who tells you that your work is lovely just over their budget.

Usually the rude ones are just snidy people anyway and not worth worrying about!

In any event, I would always say NEVER justify or apologise for your prices to customers. Explain your prices by all means if the customer raises the subject - tell the customer that the price simply reflects the time and quality of materials gone into making the piece and use that as a springboard to point out the handmade beads / sterling silver components / hours of beadweaving etc.

Emma

★★Terri★★

I can't remeber where I got this from, but have found it a useful tool in helping to work out prices.  It is a speadsheet thingy put together by a someone called Chris Parry.

I use it and then look at the final suggested price and perhaps make a couple of adjustments.  It doesn't take into account factors such as 'what will the market stand?' and 'is this one worth a damned sight more than that 'cos it is just soooooooooo special!'

Follow the link to the blog - http://www.chris-parry.blogspot.com/2007/12/free-spreadsheet-for-pricing-your-work.html
Just fill in the boxes with your info and let it do it's thing.

Be interested to hear what you think of it.

Terri x

♥♥Tan♥♥

Quote from: ejralph on May 31, 2010, 09:16:38 PM

If someone tells you your work is "too expensive" - well, they are just bloody rude. What business it is of theirs to offer opinion on your pricing if they haven't done the maths?



I quite agree, it is rude. I would also like someone to explain why it isn't rude to complain at someone because their prices are too low?

beadysam

Quote from: Tan on June 15, 2010, 01:44:59 PM
Quote from: ejralph on May 31, 2010, 09:16:38 PM

If someone tells you your work is "too expensive" - well, they are just bloody rude. What business it is of theirs to offer opinion on your pricing if they haven't done the maths?



I quite agree, it is rude. I would also like someone to explain why it isn't rude to complain at someone because their prices are too low?

I suppose thats because generally when you say someones price is too low, it means you value their item - and thats a good thing. Other than all the undervaluing other lampworkers arguments, and taking things stricktly at face value if someone says " you should charge more"  its often because the work is simply good and the person passing comment would be happy to pay more, and would like to see the maker rewarded for their good work.  Its a compliment :)

treacle_mel

Also, don't forget holidays in your calculations... if you work everything out over 52 weeks, that means you will have to work 52 weeks of the year - 48-50 weeks is better, that way you'll be able to take a holiday and know that you're not losing money simply by not producing anything! x
Mel x

Yellow friend

I must admit I sell most of my beads on ebay (about 4 a week!, I'm not exactly going to retire on that) however, I used to always start at 99p but so many people said I wasn't charging enough - if you don't value your work - nobody else will. So now I start at cost of material plus a bit more.  I may not get the number of bids but I get my material costs back at very least and most of them sell.  My master plan is to get more noticed via ebay as my web site doesn't really get them in.  The hits on my site definitely increase when I have stuff on ebay.  I have sold my beads all over the world now and hit £20 for 1 bead last week, so really pleased with that one. My client base is slowly growing but it's still only a self financing hobby at this point.  It doesn't make it easy for any of us if you charge too little, OK there are the cheap imports to contend with but hopefully there are enough people out there who realise that if they want to create something original and good quality too - they will come to us bead makers.

If you look at the prices people are prepared to pay for a 'Pandora' of 'Biaggi' they shouldn't flinch at paying us a sensible price for our originals.
www.crocosmiajewellery.com
www.crocosmiajewellery.etsy.com

★★Terri★★

Quote from: Yellow friend on June 15, 2010, 05:16:35 PM
there are enough people out there who realise that if they want to create something original and good quality too - they will come to us bead makers.

If you look at the prices people are prepared to pay for a 'Pandora' of 'Biaggi' they shouldn't flinch at paying us a sensible price for our originals.

Exactly!!!!!!!!!!!!!!

noora

Okay, so now that I've started thinking about selling my pretties, I ran into a question :) I would generally price items like I wrote in my earlier post - so that I get a fair hourly wage for making them. But when I started sorting the beads I've made so far I realised that beads that take the same amount of time to make don't always look as "fancy". For example my squigglies are quite fast to make (it takes longer to make the core than the squiggles) but they look much fancier than some dotty beads that take just as long to make. Would you demand more for the "fancy" looking beads than for the "plain" looking beads even if you can make them just as quick?

jammie

I have a craft fair on Saturday  and am a bit unsure about my pricing, mostly its the same as I put on for last years fairs but i have a board of earrrings and wondered what you sell your earrings at at craft fairs, the same as online or less or more....I was going to make them all at £10, semi precious, lampwork, hoops etc with the larger long earwires at £12, does this seem too cheap...I know its difficult to tell without pics but I have put them all away and its a rotten rainy day so cant take pics. My head feels like it is going to explode thinking about the prices,in a way I would rather sell a wee bit lower rather than come home with a lot, but again dont want to sell myself short. I do try to base my prices on what mostly fhappen members price theirs at though even on here i see there is a huge variation  in pricing. This is the local craft association and is good handmade vetted work and is well attended, but it's in a small town rather than the larger town where i was last year and will be again in November. Anyways, any advice, comments most welcome, also, on the brain exploding.  :)  ::)

Lush!

Jean, I think simple blanket pricing is a good idea, like you said £10 for one style, £12 for another - but you could maybe add a couple of quid on  ;)  I totally agree with you about preferring to sell them for a little less rather than overprice and end up bringing them home.  You could offer a discount, say buy 2 pairs, get the third half price, something like that.


www.lushlampwork.etsy.com

sarah t

nora i think the problem is often people dont appreciate or understand that there are so many variables...... some glass is cheeper  ,some beads take longer ,some frit is more expensive  etc etc etc ....

you have to find a happy pricing balance so it all works out in the end maybe based on size ,type or style  ;D




sublimekate

I'm discovering it's a bad idea to price your beads when you're totally skint and Christmas is already a thought paying daily visits to my consciousness. It seems to be making me want to price them cheaper, because of course I'm thinking they'll sell quicker....... resist resist!!!!