Pricing

[ekud1946]

Someone said my prices was to low, all I can say is this I make a good markup on all items I sell. Scroll sawing is a hobby for me which I love. I'm not in it for the money, just so I can make expenses and have a little left over, I'm a happy camper.

Edited July 23, 2017 by ekud1946

[Iguanadon]

26 minutes ago, ekud1946 said:

Someone said my prices was to low, all I can say is this I make a good markup on all items I sale. Scroll sawing is a hobby for me which I love. I'm not in it for the money, just so I can make expenses and have a little left over, I'm a happy camper.

I hear it all the time... "$25?? Is that all??"  

"Yep, this is a hobby for me, I sell them cheap so I get to make more of them."

But I also lose a few sales for the folks that think $25 is a lot.  I'm happy with with my pricing.

[WayneMahler]

I have both people, is that all ? Why so much money ? I figure in a lot of factors for my pricing. You'll never make them all happy so you shoot to make enough to feed the hobby and enjoy it at the same time. With me what started out as a hobby grew quickly into a business and I haven't looked back once. I  love what I do .

[Clayton717]

I too hear both comments, " that's all and that's to much. I enjoy doing it and have several return "customers". as long as the hobby is self supporting I don't worry about how much I'm making.

[hawkeye10]

6 hours ago, ekud1946 said:

Someone said my prices was to low, all I can say is this I make a good markup on all items I sale. Scroll sawing is a hobby for me which I love. I'm not in it for the money, just so I can make expenses and have a little left over, I'm a happy camper.

William I said that about someone I don't remember if it was you or not. Iggy gets about $25 for his animal puzzles and if I remember right the person I was talking about was selling theirs for about half that. In my opinion $25 is about right for an animal puzzle.

[WayneMahler]

2 hours ago, Clayton717 said:

I too hear both comments, " that's all and that's to much. I enjoy doing it and have several return "customers". as long as the hobby is self supporting I don't worry about how much I'm making.

I honestly believe if people knew how much work went into what we do it would eliminate a lot of those questions. 

[lawson56]

Same here,I have heard both.When I 1st started selling my prices were twice as high.I wasn't selling a thing.Now I have on a rare occasion some customer give me more than the marked price.

[Trka2002]

I keep my prices low. Like most of you, it's a hobby and should be enjoyed. 

[kmmcrafts]

I could write a book about pricing.. and how one persons prices can affect another etc etc.. I won't go into that too much though but I do have a couple stories I might throw in this reply.. But first off.. let me say.. I price my work at what I need to to make money.. It's not just a hobby for me.. I'm trying to make a living doing this.. so your pricing low kind of affects me and hits a nerve for me..

I have to laugh at those that say.. "well it's fun so it's just a hobby so i just price low"  So.. you're telling me if you'r day job is fun you shouldn't get paid for your time? I guess you work your whole life in a career you hate but get paid for it in order to live.. You make it sound as if your career shouldn't be fun.. what if someone comes to your work place and tells your boss.. you know.. I would do his job for almost free.. because I enjoy doing that and it's a hobby for me.. I will even put in extra hours.. Suppose your job is still going to be there in the next few weeks..

Selling online is a lot different than selling at the local craft fairs.. so you do sort of have to adjust your pricing for the market in which your selling in.. But selling online opens up a whole world of different markets.. and one shouldn't just price what their local market will be but rather price your item at what YOU need to be paid.. then go out and seek your market.. because it's out there in the online world.. 

[Trka2002]

2 hours ago, kmmcrafts said:

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I have to laugh at those that say.. "well it's fun so it's just a hobby so i just price low"  So.. you're telling me if you'r day job is fun you shouldn't get paid for your time? I guess you work your whole life in a career you hate but get paid for it in order to live.. You make it sound as if your career shouldn't be fun.. what if someone comes to your work place and tells your boss.. you know.. I would do his job for almost free.. because I enjoy doing that and it's a hobby for me.. I will even put in extra hours.. Suppose your job is still going to be there in the next 

I'm disabled, unfortunately I'll never work a full time job again. There is a lot of things I'll never do again, but I can still use my scroll saw. I sell low because it is a hobby. If an online sale isn't made or a craft shows produces no sales, there are many activities one can find to take its place. For those of us who would rather make a small sale and make something new, well, the rest of the world will just have to deal with it. 

[dgman]

A quick story. I had made three Sea Life puzzles, all made from exotic hardwoods. Very colorful and attractive. I had $30 on them and didn't sell any of them. The next year as I was setting up for my first show, I decided I needed to change the price. I increased the price to $45. I sold all three of them that day. What's the moral of the story? I'm not sure. I price my items by what I think they will sell for. It's true, it's just a hobby for me, but I want to make as much as I can for that item. 

I like to make two to four of each item I make. I price them what I think they will sell for. I will have only one of each item on display at a time, instilling a sense of it being the only one, so you better buy it now because it may not be there if you come back. If the item sells well, I can always raise the price, but I have never lowered the price in order to sell it. I will give a discount to customers who buy multiple items, but only if they ask, I don't offer it.

[JTTHECLOCKMAN]

21 hours ago, ekud1946 said:

Someone said my prices was to low, all I can say is this I make a good markup on all items I sell. Scroll sawing is a hobby for me which I love. I'm not in it for the money, just so I can make expenses and have a little left over, I'm a happy camper.

Did they buy anything when they said that??/  If so you should have told them you would do them a favor and raise the price on his item.  Pricing is always going to be a subjective thing. What you need to do is be a good salesperson and that is set a price and be convincing of your price like a good salesperson should be. If you are happy with your prices than no one can convince you otherwise. Happy selling. 

[Iguanadon]

5 hours ago, kmmcrafts said:

I could write a book about pricing.. and how one persons prices can affect another etc etc.. I won't go into that too much though but I do have a couple stories I might throw in this reply.. But first off.. let me say.. I price my work at what I need to to make money.. It's not just a hobby for me.. I'm trying to make a living doing this.. so your pricing low kind of affects me and hits a nerve for me..

I have to laugh at those that say.. "well it's fun so it's just a hobby so i just price low"  So.. you're telling me if you'r day job is fun you shouldn't get paid for your time? I guess you work your whole life in a career you hate but get paid for it in order to live.. You make it sound as if your career shouldn't be fun.. what if someone comes to your work place and tells your boss.. you know.. I would do his job for almost free.. because I enjoy doing that and it's a hobby for me.. I will even put in extra hours.. Suppose your job is still going to be there in the next few weeks..

Selling online is a lot different than selling at the local craft fairs.. so you do sort of have to adjust your pricing for the market in which your selling in.. But selling online opens up a whole world of different markets.. and one shouldn't just price what their local market will be but rather price your item at what YOU need to be paid.. then go out and seek your market.. because it's out there in the online world.. 

Kevin, we can all appreciate what you're saying.  I don't think any of us are selling for way below market prices, we're simply selling for what we have found people are willing to pay without pushing the envelope trying to maximize profits. As you know, it's a balance.  Higher price, sell fewer; lower price, sell more.  I sell my puzzles for $25, I have found that's an ideal price that allows me to sell as many as I can comfortably make in a week without feeling pressured and it's a price the tourists (and locals) seem comfortable with in at least 80% of the cases.  Having the $10 kids puzzles allows those that can't/won't spend $25 to still buy something and enjoy the puzzle experience.  I encourage those that sell items to have a low price item option for folks to still be able to buy to show appreciation for your work if you're comfortable doing that and have the booth space.

My price is double what they sell for on Etsy... made by Harvey.  If I had to sell mine for $12.50, I'd be hard pressed to bother selling them.  I have a dollar figure in my head that I want to come home with in my pocket each Saturday and if it were to dip to half, it wouldn't be worth it to me.  It's a hobby, but it has also proven to be a nice added cash flow that allows me and Mrs. Iggy to get some things done around the house.

[SCROLLSAW703]

pricing ones work can be touchy, even distasteful to others. That's part of the reason we have all but quit doing craft shows. I'm not in competition w/anyone, nor refuse to raise or lower prices to suit the customer.

I'm not a toy maker, nor am I designer, but, I know what each project costs me in materials & time. That's where the big question is. How do I make my time back? Honestly, in 25+ years of scrolling, hobby or special order, a good percentage of my time is how much I want to make. Some of my projects are probably under priced, others over priced to a point. But when you start figuring materials against a given number of that project, & your time, folks look at me like "you're kidding! THAT much? then the walmart comments start. I don't work for walmart, & refuse to work on their junk, no matter what it is! I'm not a factory, neither. Each piece i make is hand cut & finished, fitted, etc., by me. 

I've had projects that were just an hour or two turn out to projects up to as high 80 hours, or more. And I'm quite sure there are others here that have had bigger projects, yet. I've learned that the price of my projects are going to depend on 2 things. 1)the economy of the community, & 2)how bad they really want my project. Whether it strikes who's nerves, or the number you sell in a day. The bottom line is still the fact that if we aren't able to make back enough in returns to feed the addiction, you're merely filling your shop with trinkets. 

I use this as a hobby & to make a few extra bucks to pick up lose ends, & restock the shop. If your product is selling at the price you have set on it, leave it be & sell til you get tired of selling. There are alot of ways to determine a price, only you knows what it takes to make your shop run.

[kmmcrafts]

I agree on most all that everyone has said here.. I think JT hit the nail on the head by saying that you have to be the salesman and make your customer believe your items are worth the price you are selling them at... Last year on a facebook group there was a discussion about Christmas ornaments.. some were saying they cannot give theirs away even at $5 each.. I said there are buyers out there for them because I'm selling at about $15 each.. you must not be ,marketing to the right crowd.. Many people sort of got all bent out of shape over the fact that I'm selling mine and they cant... maybe I work harder at it..I sell more ornaments that I can make.. around 600 last year sold.. some where to wholesalers.. at 50% discount.. which is typical for wholesale pricing.. Which is another story about wholesale selling.. pricing.. If you ever consider selling wholesale.. you're going to want to have your prices up there at a retail price.. those that sell ornaments at $8-10.. you willing to sell wholesale those for $3-5 each? LOL  

I also believe many people are confusing the term hobbyist and business.. when I was looking into starting my business and doing research on what type of business I wanted to do.. The IRS told me that there is no such thing as a hobbyist that sells a product with the intent to make money.. they clarified to me that the hobbyist should only be giving their items away.. otherwise they consider you a business.. 

In your terms.. I feel like I am just a hobbyist too.. however I am trying to make a profit.. so i felt the need to do things right.. get a business license, sales tax license, insurance etc etc.. and go about it as a business..This way if the Tax man or any other type of thing comes up.. I should be good.. since I did all of this I figure I might as well make a go at it and try.. after all.. I love what I do.. so why not make money doing it.. 

At the end of the day.. it's your business what you price your things at.. I just don't see what some say its fun and should be priced low because it's fun.

[hotshot]

I have my stuff at a craft store, so I'm not there to sell it.  It would be nice to get a nice hourly wage for my work, but I would sell zero items if I charged per hour what my regular job pays.  My cost in materials for my coins are usually a dollar or two (depending on how many blades I break), but a simple coin may take 15 minutes to cut, and advanced one several hours, so my time is my real expense.  The coins that are a pain in the butt, I price way up there ($50 for my most expensive one), and if they don't sell, they still serve as a show piece.  On the other side, I charge $15 for the really simple designs, and those sell pretty good.  I also regularly put out a simple heart, or something super simple (but still novel), and mark the price down to a few bucks, just because I like to give random people a "deal/treasure."  Those "super deals" always sell, and make me feel good because I know that I "gave" something to someone and did a good deed.

My puzzle boxes also sell very well (at the $15 to $25 range), but wood is much more expensive than money (ironically), and I have to glue, cut, sand, and finish those, which in all is a lot more effort.  I'm also more likely to mess up on those boxes.  But, people do like them, and they are fun to make, so I put them out there.  I price them, not on my effort to make, but what I think I might pay for those if I were on the other side of the counter.

[amazingkevin]

On 7/22/2017 at 4:27 PM, ekud1946 said:

Someone said my prices was to low, all I can say is this I make a good markup on all items I sell. Scroll sawing is a hobby for me which I love. I'm not in it for the money, just so I can make expenses and have a little left over, I'm a happy camper.

It's untold the amount of work I've given away,all a labor of love for smiles.

[RangerJay]

It's a good idea to know what your work costs you to make and what you'd like it to sell for to give you a reasonable return - but at the end of the day there is nothing reasonable or objective about pricing arts or crafts - the actual sticker price will end up reflecting the market you are selling to and their willingness to pay (or not).

Jay

 

Edited July 24, 2017 by RangerJay

[ekud1946]

9 hours ago, amazingkevin said:

It's untold the amount of work I've given away,all a labor of love for smiles.

 

[ekud1946]

I have to agree Kevin.

[poupster2]

Last year I was selling some ornaments for $5 each.  Not a lot but It was my cheap item and these brought in people.  I then raised the price of one individual ornament to $6 each but had a 3 for $15 deal.  Just the fact that people could have deals, made me sell almost 4 times more ornaments.  From this experience, I Always make up some 2 for/3 for  deals and a lot of people just look for that.  Experiment with your pricing and you will be amazed at what works better for you!

I agree with the majority of you that you will always find some people that think you are under priced and some think you are over priced.

[ike]

I selll animal puzzles along with other items mostly nativity scenes which run $15 to $30 each. I sll the puzzles for $10 I use popular which cost me $2.10 per board ft.I ger 3 to 4 out of a board foot The total cost of a puzzle is about $o.80 each and it takes me 35 minuts to make one. so I make about $15 pr hour So as far as I am consurned I give a good price at a decent profit.

IKE

[UncleApple]

What cracks me up are the people that say I should charge 2 to 3 times more than what I'm charging and then don't buy anything...

[Iguanadon]

47 minutes ago, UncleApple said:

What cracks me up are the people that say I should charge 2 to 3 times more than what I'm charging and then don't buy anything...

Ha!  Yep!  "Thanks for that bit of advice fella."

And I've said before, if I had a $1 for every time I heard "Oh wow, these are amazing!"  "I love these!" "I've never seen anything like this!" "You do wonderful work!"... and then they walk away...

[Montserrat]

5 hours ago, Iguanadon said:

Ha!  Yep!  "Thanks for that bit of advice fella."

And I've said before, if I had a $1 for every time I heard "Oh wow, these are amazing!"  "I love these!" "I've never seen anything like this!" "You do wonderful work!"... and then they walk away...