Pricing Help Please!

[Richard Madison]

Have opportunity to generate a few $$ income to help support the hobby. We'll just call it a "hobby". Anyhow I would greatly appreciate some advice from you more experienced folk on actual selling prices of items like those shown. For scale, the "corrugated" box is 4" dia. and about 3-1/2" tall.

My actual working time is not relevant, as I work slowly and take lots of breaks to drink coffee and pet the shop cat. What I need help with is actual selling prices for stuff like this. Thanks in advance for your help.

[Scott Hubl]

Take a look at this Richard.
http://www.turningtools.co.uk/marketing/marketing-part3.html

[Scott Hubl]

I found this thread on the AAW forum.

link removed by Moderator

[Allen Neighbors]

Richard up here where I live, I can't get what people can get in larger urban areas. I would probably only get about $30 for the corrugated box, 20 for the other lidded piece, 15 for the small bowl, and 10 for the bud vase.
I assume that some folks will get twice my prices in Wichita Falls and Dallas.
I sold a 14" Cherry bowl for $75, and the guy took it home, got on line and found one the same size, that looked almost exactly like it, priced at $200.
Rural area difference. I love this place! :)
Edit: I thought I should add that I don't put a piece out for sale if I can see any sanding marks at all, under bright light. Which brings to mind: There's a gentleman in this area that has begun turning, and sat up at a craft show where I was a vendor. He had seen some of my turnings, and made some like them... biscuit cutters, coffee scoops, etc., and was selling them at less than 1/2 the price of mine. He sold out, and I brought mine home. His were covered with tool marks and sanding marks... mine weren't. I won't compromise my decent work by lowering my prices, when his work is of lower quality. A guy's gotta have a little pride in his work. :D

[Raymond Overman]

In the past, I've used (width x height x modifier)+material. The modifier is a number between 1 and infinity that I feel my skill level is. In the past year that's between 3 and 4. That would put your corrugated box in the $42 to $56 range. I think that's doable in my area but would require the right buyer to come along. There's no way I can actually sell pieces for what time I have in them since a lot of stuff ends up on the cutting room floor. Especially when I'm developing a teapot. As of now, I put an arbitrary price on my pieces based on what I think my market will bear and how hungry I am.

I've also found since I'm being represented at galleries (and wholesaling some pieces) that my prices have gone up to cover the commission and difference between retail and wholesale. One important thing is, if someone buys wholesale that you don't undercut them on the retail price, if you expect to get more wholesale business in the future.

[Barry Elder]

Richard, Allen hit the nail on the head. Don't compromise!

[Richard Madison]

Thanks for all your replies, guys. Mostly what I expected. The folks at the little gallery in question may or may not have a clue, being inexperienced with wood turning. So will mostly just have to make up my own story and stick to it.

Allen- Agree with you about quality of workmanship, although relatively few folks really know the difference. If I'm not proud of it (because of aforementioned sanding scratches, tool marks, imperfect segment joints, or whatever), I won't sign it and won't sell it. But it can be difficult to find appreciative clients for that level of quality. It is at least partially up to us to try to educate our gallery folk and customers as much as possible. My sweetie can spot defects instantly that she did not know were there a few years ago.

Raymond- I really like your formula because it provides a reasonable starting point. The modifier can be adjusted, depending upon a number of factors. And yes, never undercut your retailers! Not good for them, and when you sell out of your shop at retail, YOU get the commission.

Thanks again guys. Appreciate it.

Edit: How about carrying one or two crappy pieces to the shows (poorly sanded, lousy finish quality), not for sale, to help "educate" potential customers? Just a thought.