Pricing

[Ken Hill]

For those of you selling your work, how are you developing pricing? I have a local place (actually a few) that are all over me to supply them with Natural Edge bowls for sale. A few locations i've decided to just pass on due to seeing how they are pricing turned pens ($8 to $12) and do not feel I want to be in the low ball market.

I've sold virtually every bowl ive made and the prices have been fair ($40 to $100) however these sales have been direct and in person to people who expect to pay for something handmade.

Any suggestions would sure help. I would expect pricing to vary by region and venue, and my oppertunities run from local buyers to catering to out of town folks who have the money to spend. I also have teh chance to get on a "Tour" list that has people following a preset tour each weekend (not every weekend but atleast 1 each month, more during peak seasons) where by local craftsman open their shop to the public. I am holding off on that to see how sales go, then I would build a shop just for that if it showed profitability.

Open to hear what you all suggest or have an opinion on.

[Greg Just]

Ken:

As others will attest to, pricing is difficult. I sell in 3 ways. Direct sales, Etsy.com and via a local consignment shop. Direct sales are my lowest prices as my overhead is lower, ie no PayPal or consignment cost. Etsy is about 15% higher and the consignment shop, where I determine the retail price, is the highest as they get 40%. The consignment shop collects and pays the local taxes. As far as I can tell, I'm the only woodturning in this shop. I don't make much money selling through any of these outlets, but what I do make helps pay for the hobby. I did recently buy a new lathe with my profits. Good luck.

Greg

[Lee Koepke]

Just my opinion, your instincts are correct. I have only been turning pens for a few months and wouldnt consider selling one for $8 !!

I sold a small NE bowl (about 4" diameter) at our 'consignment' booth for $12 ... so I'd be curious to see what other NE bowls do go for, because I dont think I have ever seen one in a store anywhere.

[Ken Hill]

Lee, I had a lady stop by with her husband who was here for other reasons, saw a NE on the counter, asked how much. I threw out $125 and she never batted an eye. Her purse was open and her husband was like..."Is that all?" She has since ordered several more. Everything has a price I reckon.

I took an order this morning for a few NE's for mothers day gift, each at $75. I am not really doing the bowls for profit but I wont walk away from it either. I may be better off staying out of teh local places or price them high so I dont get lowballed. If they sell great, if not no worries.

[Curt Stivison]

Ken,
I have noticed alot of your turkey calls on SMC. I am getting ready to make one for a friend. How do you market them? They are beautiful by the way.

Curt

[Dan Hintz]

Ken,

Always better to start (way) too high. If they totally balk at the price, they were expecting to pay $15 and it's best you weeded them out right from the get go. If they appear to be thinking it over, you can always flatter them and say something like "but you seem like good folk, so I'll take $30 off". That should sway them. If they then appear to be thinking harder but still not making a decision, stay firm on the price and don't bother dickering any further... these are also people looking for a bargain basement price. Quickly move on to another topic, and leave them thinking you really don't need to sell the piece. If they have a true interest, they'll either pay the asked price (or maybe try and get another $5-10 off) or let it go completely.

[Ken Hill]

Ken,
I have noticed alot of your turkey calls on SMC. I am getting ready to make one for a friend. How do you market them? They are beautiful by the way.

Curt


I dont, they sell through word of mouth etc. I do not want to get bogged down with another business, so everything I turn is for fun and if it adds a few bucks to the wallet then awesome! I have sold enough calls and bowls to pay for every piece of equipment I have and just reinvest what I do earn and the wood is free LOL!

[Ken Hill]

Ken,

Always better to start (way) too high. If they totally balk at the price, they were expecting to pay $15 and it's best you weeded them out right from the get go. If they appear to be thinking it over, you can always flatter them and say something like "but you seem like good folk, so I'll take $30 off". That should sway them. If they then appear to be thinking harder but still not making a decision, stay firm on the price and don't bother dickering any further... these are also people looking for a bargain basement price. Quickly move on to another topic, and leave them thinking you really don't need to sell the piece. If they have a true interest, they'll either pay the asked price (or maybe try and get another $5-10 off) or let it go completely.


Dan, I agree, and I wont be one to undersell the work, I see and deal with that daily with my real job.

[Lee Koepke]

I like showing off my bowls to people and had someone ask, since it caught me off guard I stated a 'range for something like this would be in that 50-60 range' .. SHE told ME 'dont undersell yourself, so I hope I can get to it before someone else' .... no $$ in my pocket, but encouraging none-the-less

[Dick Wilson]

Ken, I do 7-8 tent art show a year, as well as two art galleries. I guess I am like everyone else who started out, questioning your product and what price is too much. Believe it or not, people seem to pay when the prices are higher!!!. You will always get those who scream about the price no matter what the tag says. They want my creative design and labor cheap. To heck with them!!!! They are not the people I want to deal with. I have started entering art competitions in the last two years and have won awards. My confidence has grown to the point that I have raised my prices. I am also seriously considering pulling my work out of the galleries. I hate the fact that they get 40% of my labor.

When you try to price a piece do not look at well known turners to see what they sell their work for. They get big money - because they are well known. Price as much as you can for the market you are in. Don't know if this makes any sense but that is sort of the phyosophy I have developed.

[Jim Burr]

Like Jay, I have 3 outlets...word of mouth from the hospital(s), and the two wine shops that buy stoppers, glasses and pens. One shop is very high end...stoppers are $40. The other place is more normal...$22-28. Glass sets just depends on style, quanity, wood used, blah blah blah. Pens are fixes...Aero's $40, Mesa $80, Jr Gents $125. I use another kit from CSUSA that are my give-aways...real nice rollerball.
Those prices come from what the "market" has tolerated over the last few years. My pens are well known in the area so pricing isn't an issue. The $40 stoppers are priced by the shop owner...I get $30...that place is crazy expensive, but it's always full. Bottom line in my opinion, people will pay what they want or move along.

[Don Alexander]

i need to make a living so i cannot afford to target the bargain shoppers , i have found that people who have money to spend usually don't balk at price when they want something , but you can lose out on their business if you price things too low

i have had no trouble selling pens for $75 - $100 and although i have some that i sell for $35-$40 i price them so that i always make my shop rate or more. The few people that have complained about the price always mention cheapo Bic pens or something similar and that just tells me immediately that they aren't my target market. i am not targeting the people who want something inexpensive to write with, i'm targeting the people who want to pull out their pen and have other people say "WOW, where did you get that pen?" for those types of people the price matters but not the way bargain hunters think it does part of the WOW factor is how much they paid for it the higher the better (to a point) think "status symbol" the people looking to get a pen for cheap can find plenty of them at wallyworld and places like that