Thursday, June 26, 2014

Pricing Question

Since I have so many talented people's attention here I have a question for you.

How do you determine prices?

I'm having a moral dilemma about charging a friend for a piece.

Here's my prototype. Yep, it's something I'd never done before.
It's roughly 27cm x 35cm at it's base which makes it 
10cm too short for my friend's purposes.

It took 9 full hours of my time and a full 50g bottle of glue.
(I'm hung up on the glue b/c I've never used a bottle in a day. It's like a real crafting achievement.)

Now the materials I buy in bulk so that's shy of $20 US for even the basket size we need.

But what do I charge?

She is my friend, but I've had so many people say I under value my work.

At the shop where my items sell anything over $20 rarely sells so it's given me a skewed view.

Help me do what's best here.

I value your opnion.

Here's an inside look at the basket.


Sorry fb friends for the cross post. I'm really struggling with this one.


Hope you are enjoying your summer
or winter for those of you in the southern hemisphere.

1 comment:

  1. Wow, Ginger... is there any craft you DON'T do? *TeeHee* I don't do any craft selling so I haven't faced this problem. It depends on whether you are considering this as a "gift"... you mentioned three times it is for your friend... just sayin'. I always have trouble taking money from a friend even when they insist on paying. Even if you ask for the cost of materials, it is still a gift of your time. I have heard that wholesale pricing should be a MINIMUM of three times material cost, + labour, and retail 2X wholesale. But realistically, local markets are all over the place. I guess whatever price makes you feel good, about the cost and effort you have invested, is the right one :)


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