Pricing your work...

[Bob Opsitos]

I know this has been asked a number of times, but please humor me. Maybe this one will be different.

I have the spalted oak burl platter I made on display over in one of the marketing VP's offices (better traffic over there).

In case anyone were to inquire about the price, I'd like to have an estimation of what market price would be. Obviously the selling location makes this highly dependent, but if you've a frame of reference to work from, give me your thoughts on what to price this at. I'm located in Baltimore, MD if that makes a difference.

I'd read of one technique that uses the diameter x height x modifier as a pricing gauge, with the modifier being different for technical aspects of the turnings as well as uniqueness of the wood. This could work well for me should I get a better idea of range of the modifer (I like formulae)

Images in the thread below:
http://www.sawmillcreek.org/showthread.php?t=51828

Thanks for your help
Bob

[Bruce Shiverdecker]

I'm not sure I can help you, but here goes.

First - THAT is a VERY STRIKING piece!

Now to pricing. I don't see a "per hour" labor rate included. Pricing when looked at by the customer is subjective. You will get those that think $50.00 is too much, but anyone with an eye for Quality in the wood and the Quality of your work should be willing to pay $150.00 to $200.00 for it.

I am going to pass on a bit of advice from a gallery owner. "You are an Artist" and as such deserve to be paid well for your unique TALENTS! (You can always reduce the price, but I don't suggest that.)

I have found that she is right. My work is not for everyone. Those who like it do not talk price. They are drawn to the piece.

Bruce

[Richard Madison]

Bob,
Ditto everything Bruce said. Sometimes price per hour is somewhat relevant, for some people and some kinds of work, but the end result is what counts. For example, I probably take twice as long to make a $200 bowl as the next guy, but it's still only a $200 bowl, not a $350 bowl. I think Bruce's estimate of 150-200 is right on target.

[Chris Barton]

Hi Bob,

I'm certainly no expert on price but, I have found that turners generally under estimate value by a significant margin. That's because they are benchmarking their price upon what the public sees on a regular basis. So, when they make a nice bowl and realize that a similar mass produced item at the blue and grey box costs $20 they try and compete in their customers eyes for that niche. I have not sold many pieces but, when I have I made sure to press for an "artist price" the price that reflects my time, effort, design skills (or lack there of), etc. In fact, I think that the more important question than price is intended audience. At a flea market your gorgous piece would never sell at $150 but, in an attorney's office a client may pay $1,000.00. I have more to contribute but will start a new thread so as not to hijack yours.

[Bill Grumbine]

Bob, there is a big difference in the piece you describe (which is beautiful) and a plain ole platter made of run of the mill wood. Each piece of wood is unique of course, but some is more unique than others. ;) For artsy prices, it is a good idea to see what other artsy pieces are selling for and charge accordingly. Now, the trick is to discover the selling prices and not so much the asking prices. I see a lot of work where the maker thinks it is worth a lot more than what it is, and work where the maker thinks it is worth a lot less than what it is.

Does this sound cryptic? That's because it is. Pricing work is somewhat arcane, and is a combination of factors such as the quality of the piece, the type of wood, the market in which it is displayed, and the relative notoriety of the maker.

Bill

[Raymond Overman]

I'd read of one technique that uses the diameter x height x modifier as a pricing gauge, with the modifier being different for technical aspects of the turnings as well as uniqueness of the wood. This could work well for me should I get a better idea of range of the modifer (I like formulae)

I've stated that formula in a post before but it's not unique to me. In my case, as I gain ground in the my local market, my modifier changes. It's not an exact science.

In your case ((12*2)x)+A gorgeous piece of wood could easily put this in the ranges discussed in other posts. The question is what do you feel x should be. That's your skill level and your popularity in your market. The gorgeous piece of wood pricing is also subjective. What would you expect another turner to pay to take the blank off your hands at a fair price?

Unless you're a professional thinking about paying your mortgage or putting food on your table, don't think about time in the equation. You're not turning out production pieces so it doesn't matter what amount of time it took and it shouldn't be part of your pricing structure. If that was the case, I'd be turning $800-$1200 bowls.

[Frank Kobilsek]

Bob,

I do a ((Dia + hieght) x $/bf) X modifier. The modifier is a percentage base on decorative techniques. The mod can range up to 40%.

I usually do pricing in big groups getting ready for some event. So I'll have 10 to 15 new pieces to price, all laid out on the dining room table. I work the formula and then wing it from there comparing to other inventory going to the event. Sometimes I cut price from the formula.

I do work with a gallery. I try to keep my price at a direct retail event related to the price the piece showed in the gallery despite the commission. Related means it might be lower but not the whole 40% commission.

My skills and the quality of my pieces continues to improve so I am prone to cutting prices on older pieces. What the heck, once the family, freinds and coworkers have said WOW the value of the piece to me starts falling off.

Your platter is definately in the $130 to $160 range for me direct retail and probably 20% more in the gallery.

Pricing is much harder than turning. I've mentioned this before but when I get stuck on pricing I have a bronze sculptor and a fabric artist reveiw them for encouragement. They usually push me higher.

Frank

[Lee DeRaud]

Pricing is much harder than turning. I've mentioned this before but when I get stuck on pricing I have a bronze sculptor and a fabric artist reveiw them for encouragement. They usually push me higher.Great minds think alike. :cool:

When my mom was out at Christmas, she offered to market my stuff in her area...turns out she has a bunch of contacts in the gallery/museum/gift-shop businesses. I went through the whole D*H*X process, adjusted to what I thought was reasonable, and shipped a big box of pieces to her to shop around.

She immediately bumped my prices 20% and showed them to some artist friends...who told her to bump them another 20%. The gallery she ended up dealing with then bumped them another 50%.

Mind you, nothing has actually sold yet (although I do have a couple of "commissions" from her friends)...it'll be interesting to see if any of this stuff ends up selling for these prices.

[Paul Engle]

for marketing dudes, at least 150% margin over cost....:eek: , for vp's and such, 200% margin over cost , and blue colar workers 20% discount , er... cost plus 50% less the 20%....:D Rememer to keep the margin at 100% .....minimum. you can always give em a deal from that price. also check out some of these sites and see what they are pricing at.

http://dmoz.org/Shopping/Crafts/Woodcraft/Woodturning/

[Dennis Peacock]

A lot of it also has to do with where you are located and what the "art" market is like in your selling location. It's difficult to sell art stuff in a blue-collar world.

Just my experiences.

[Bill Wyko]

I have a saying at my shop. "The bitterness of poor quality lingers long after the cheap price is forgotten". That's a fine quality piece.

[Reed Gray]

A nice artsy piece. Mostly I do daily use pieces, but I like to have a bit of everything in my booth. I really have a hard time moving anything made from oak. That being said, I would probably get about $100 for that here in town, but on a road trip, I would put $150 plus. It depends on where I am showing.
robo hippy

[Bernie Weishapl]

A lot of it also has to do with where you are located and what the "art" market is like in your selling location. It's difficult to sell art stuff in a blue-collar world.

Just my experiences.


I agree with Dennis. I do believe the area has a lot to do with it. I get $20 for slimlines and $35 for Euro Design pens here in a small farming community. My son is getting $35 for the slimlines and $55 for the Euro's in Richmond, Virginia. Same goes for bowls, boxes, etc.

[Glenn Hodges]

You will kick yourself if you sell the first one to cheap. I see this one worth at least $225. Wood like this does not happen by every day. Executives do not like to display cheap items.

[Dario Octaviano]

Bob, there is a big difference in the piece you describe (which is beautiful) and a plain ole platter made of run of the mill wood. Each piece of wood is unique of course, but some is more unique than others. ;) For artsy prices, it is a good idea to see what other artsy pieces are selling for and charge accordingly. Now, the trick is to discover the selling prices and not so much the asking prices. I see a lot of work where the maker thinks it is worth a lot more than what it is, and work where the maker thinks it is worth a lot less than what it is.

Does this sound cryptic? That's because it is. Pricing work is somewhat arcane, and is a combination of factors such as the quality of the piece, the type of wood, the market in which it is displayed, and the relative notoriety of the maker.

Bill

As always, well said Bill!

If we have to charge our time per piece, it is good to know how much time a REAL professional can complete the same piece.

I mean I can turn a piece for 30 hours and still not get a piece like Bill or Travis would produce in say 2 hours. Should I charge for my (30 hr) time and sell more than their work? NEVER!!!

Much as we want to be recognized and paid for time and talent spent on our craft/art ... reality check is always good.

Looking at how much similar or better pieces sell for is a good reference and price accordingly.

[Bill Wyko]

I have found that if you sell something of great quality like your work too cheap it can make it harder to sell. People looking for quality typically are expecting to pay the price for the item. I'd say no less than $250.00. If someone barks about the price just tell them "it'll look beautiful on my mantle too." I've decided that if I can't get the price I ask, I'll be the lucky recipient of my work:D