HF to be sold?

[Jon Lanier]

This is not a new project, my wife took this HF to work to show a friend and she was offered $125.00 for it. A little later another lady wanted it. So my question is this: Is $125.00 a good price? I think I've been looking at this stuff so long that I'm losing objectivity.

Thanks,
-Jon

[David Walser]

It's a good price if and only if you feel good about accepting it.

[Raymond Overman]

Jon,

I don't know if it's a good price but it's not a bad price. Like David said, it may not be a good price to you and that is all that matters. If your wife is willing to part with it and you feel like you could use an extra $125 (and who couldn't) then go for it. Otherwise, let them know your price and they can make the decision whether it's worth it to them.

[Curt Fuller]

Well, you didn't have to pay an entrance fee or set up a booth, and you didn't have to pay a commision, so I'd say that $125 ain't too bad.

[Bernie Weishapl]

Jon as others have said it is your call if you will accept it or not. I had the same feeling Curt did. You didn't have any extra expenses so $125 sounds pretty good to me.

[Kurt Bernat]

First of all beautiful peice. But don't discount your time. How many hours went into the project? We all love woodworking, that's why we do it and why we come to this forum, but that doesn't mean your time isn't valuable.

Because I enjoy the work I usually calculate my time cheap, say $10.00 an hour. Obviously, multiply your wage time the hours work and that is your pay for the project. I then usually double that figure to account for wear-and-tear on tools and machinery, plus electrical usage and materials.

Also keep in mind I don't sell much, maybe I overcharge :D...

[Barry Elder]

My two cents would be: If your wife was offered $125 by a co-worker, then how would the general buying public react if this piece was in a show or a gallery? I think you made this because you enjoy or love doing it. Adds value and subtracts cost. It is a one of a kind HF. Adds value. If my ex had this offer, I would ask her if she liked the person who offered the money. If the offer came from a friend, give it to them, and if she didn't know or like the person, then ask for a little more. What would it cost?! Most woodturners undervalue their work if it is good!

[Lee DeRaud]

I tend to price stuff according to what I'd be willing to pay for it myself. If that piece is the size it appears to be (~8" diameter?), anything between $125 and $175 sounds reasonable. Then again, that's for where I live: I have no idea where you are or what the market is like there.

Of course there's also the "bird in hand" factor to consider...

[Tony Bilello]

If its just market value you are looking at, $125 is a fair price. Consider that what others have said about what it would cost to rent a booth. If you went to an Art Gallery you would have to split 50/50 or 60/40 with them getting the 60. So then the bowl would have to sell for $250 to $300 for you to get the $125. Some people like wood turnings and some don't. I used to own a gallery and featured a lot of wood turnings and I can tell you that they don't sell like hot cakes and I featured a lot of major artists at the time.
What it is worth to you and what it is worth to the general public is two different things.
Creating objects of art is rarely profitable. You do it for the love of the art.

[Stephen Johnson]

What would you buy with the $125 that would replace your attachment to this piece?

[Philip Morris]

Another consideration.

Your file title says first hollowform. I have read where many turners lament not having their first piece of a given style as a benchmark from whence they came.

It's a very nice first piece and one you may still enjoy in the future.

[Frank Kobilsek]

Jon,

Curt hit the nail on the head. I spent the weekend at a show. Regardless if you sell thru galleries or thru shows half your revenue goes into selling cost. So if like Curt said you did the work of attending a show or finding a gallery that piece would need to sell for $250 for you to enjoy $125 of benefit.

My experience this past weekend was any piece marked $100 or more was instantly returned to the table or shelf. I did fine but it was $25 to $50 at a time and required some price 'rounding' to close some deals.

Sell it, take your wife out for a pizza as her commision and hide the balance in the back of your wallet for a rainy day or a tool that you can't live without.

Frank

[Jason Roehl]

I'm with a few others on part of this--does $125 cover your own attachment to the piece? Only you can decide that.

The other part to it in my opinion is this: if you accept the $125 offer straightaway, two things are going to happen. One, is the buyer will always wonder if she paid too much (unless she knows it is worth much more) and two, you will always wonder if you accepted too little. The solution to both is to make a reasonable-to-you counter-offer and see what happens. If you're in a financial position where you could take or leave $125, then it doesn't matter if it doesn't sell. And, if you could really use $125, then just look at it as an opportunity to make another to take its place. At the end of the day, it's just "stuff".

I almost forgot: if you're looking to do more of this, which would you rather have, an HF-less person running around mouthing off about how you snootily rejected her generous (in her opinion) offer, or someone bragging about this beautiful piece of artwork she purchased and extolling your virtues?

Hope this helps.

[Lee DeRaud]

At the end of the day, it's just "stuff".And at the end of the day, the most valuable commodity for the average woodturner is "shelf space". Don't obsess over the price.