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#11
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Those are terrific little pups, but have pity on the rest of us who sculpt for a living -- set a higher base price. Katherine Dewey Snip I've tried that and maybe it was because it was when I just started, but I didn't get any bids. I might be able to raise it now that I have the attention of some of the Yorkie buyers now, but I would appreciate your feedback or suggestions about this. Sandra |
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#12
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snip
Those are terrific little pups, but have pity on the rest of us who sculpt for a living -- set a higher base price. Katherine Dewey Snip I've tried that and maybe it was because it was when I began offering sculpture on Ebay, but I didn't get ANY bids. I might be able to raise it now that I have the attention of some of the Yorkie buyers now, but I don't want to run off the customers that have finally noticed my work exists. Think I should just flat out say something in the listing about why I'm raising the prices? I would appreciate your feedback / suggestions about this. Sandra http://tinyurl.com/27u72 |
#13
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Hi All, Sandra, GREAT WORK!! Love it, Love it, Love it!! This is how I learned to price my work after meeting and quizzing 100's of artist's at all the art/craft festivals I visited through the years. 1. Keep it simple. Very simple! 2. Remember, from the day we are born we are each allotted a certain amount of time on this earth. Once we have used an hour of our time we can never get that hour back. So try to make the most of the time you have here on earth. Value yourself, and so will others. 3. Think of how much you believe your time is worth. Base this on you needs and skill level. Beginners are usually paid, at a lower pay rate then veterans on the job. So as your skill level increases so should your prices. Don't be afraid to give yourself a raise, you worked hard for it and deserve it. 4. Are you going to be making your entire income from this craft/art or is it just basically a part-time job, leisure activity etc. Think, if I'm going to take a part-time job to supplement my income how much would I expect to make per hour at the minimum, maximum then use the middle of the road amount of those two figures. Personally, I would expect min. $5.00 per hour, max. $15.00 so I charge $10.00 per hour for my work. Since I am fairly new to sculpting ( 3 yrs.) and have absolutely no formal training, unless you consider the Carol Duval show training, my leisure time is not worth as much as someone who has been sculpting for say 10-15 or even 20 yrs. And possibly has a degree in Art & Design etc. 5. Do a lot of market research, ask other artists in your media form how they price their products and why?? Look at the prices that other artists in your specific area of expertise are asking for similar works. Art festival, craft fairs, EBay, Yahoo auctions & news forums are great ways to meet the artists. Human nature is such that almost all humans enjoy talking about their accomplishments, trials etc. 6. One of a kind art is much more valuable then the cottage industry stuff. If you're going to mass produce say 100 of the same thing, it should be more reasonably priced. Unless of course it's a limited edition signed, dated & numbered series, then a bit more is reasonable. Like limited edition poster, painting prints, dolls etc. One of a kinds are of course my favorites, and sometimes our happy accidents are so nearly impossible to replicate anyway. LOL You've all been there, after you finish a piece and someone asks you to make one just like it for them. You'll sit there and say to yourself, "now how did I do that again??" I guess because I "play" with clay, I never bother to record any of my so called recipes. 7. ALWAYS ask more for your product then you expect to get for it, you can always lower the price if the buyer bulks at the higher price, but you can never raise that original price after it's set. But don't just tell the buyer immediately you will lower the price and never throw out a figure to them. Ask them how much they are willing to pay, lots of times, the buyer will give you a higher price then you would have told them. If they want it for say 1/2 price, then give them your 1st best price. NOT your absolute bottom line price. You can at this time employ some marketing techniques, like reminding them that this is a one of a kind piece. I sell my one of a kinds with a certificate of authenticity, signed and dated by myself. Or you don't mind lowering the price a little, but after all you are selling to make some profit. Most buyers understand that way of thinking. Don't be afraid to let the buyer walk away, if they are really interested they will come back. If they don't come back, then the next interested buyer may pay full price no questions asked. Think of all the yard sales, garage sales you've probably visited. Good buyers never pay full price and good sellers learn to negotiate. It is true, "one man's trash is another man's treasure" 7. Explain the process, most none artsy folks don't have a clue how long it takes to make a product. Explaining the process to them has worked so many times for me, I can't count them all. Buyers then understand this didn't just take 10 minutes to make, they realize the value better and are usually more willing to pay the higher price. I have even explained the "from the day we are born we are each allotted a certain amount of time on this earth. Once we have used an hour of our time we can never get that hour back" theory to buyers. It's simple, it makes sense & buyers do understand! 8. The buying public is extremely fickle. Example: Furbies, remember those little talking toys from a few years back? I paid $60 dollars each for mine, but today I couldn't give them away. Same thing with Beanie Babies, Talking Elmo or was that Tickle Me Elmo? You get the idea! What sells today may not sell tomorrow and vice versa. 9. My formula for pricing is as follows: One of a kinds or Limited edition series = $10 per hour times number of hours to make. (Proto types always take the longest to make, so I adjust their price down to the average hours I figure it will take to make another similar piece.) Cottage industry stuff = $10.00 per hour times the number of hours to make all, say 100 of the items plus the cost of the materials to make them, divided by the number of items made. i.e. - $10.00 x 10 hours = $100.00 + $200.00 materials = $300.00 divided by 100 items made = $3.00 per item. This would be my minimum price for those items. 10. Repeat customers, I do give discounts to my repeat customers and for customers who refer their friends and family to me. They deserve a little "lagniappe" (little something extra) after all they are giving me free advertising, and any good marketing person will tell you word of mouth advertising is the absolute best way to advertise. "Think I should just flat out say something in the listing about why I'm raising the prices?" Nope, only if they specifically ask. If the customer likes your work, they will pay the extra. Sorry this is so long, but hope it helps you. Ms. Eli Quin "VanderSandra" wrote in message ... snip Those are terrific little pups, but have pity on the rest of us who sculpt for a living -- set a higher base price. Katherine Dewey Snip I've tried that and maybe it was because it was when I began offering sculpture on Ebay, but I didn't get ANY bids. I might be able to raise it now that I have the attention of some of the Yorkie buyers now, but I don't want to run off the customers that have finally noticed my work exists. Think I should just flat out say something in the listing about why I'm raising the prices? I would appreciate your feedback / suggestions about this. Sandra http://tinyurl.com/27u72 |
#14
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Lots of good points and I understand the reasoning behind all except this
one.... Ask them how much they are willing to pay, lots of times, the buyer will give you a higher price then you would have told them. I think this devalues what you are selling. This practice even irks me at a flea market or garage sale. If you do not know how much your product is worth, then don't ask me to tell you. I hate it when I ask how much something is and the response is "How much will you pay me?" I very often tell them that not as much as they are hoping and that they alone know how much they paid for it, (the materials), the time spent to refurbish or make it to sell and what their overhead is. Asking the customer how much he will pay can also give the customer the idea that now since you know he is interested, that you will take every dime you can get. Another reason I hate it when people do not price their merchandise. That way, they can "read" instantly that I am interested and can up the price. Just a pet peeve of mine. Thanks for making the list from your experiences! Jeanne http://www.heartofclay.com eBay auctions http://members.ebay.com/aboutme/vintagenet2/ "eliquint" wrote in message ... Hi All, Sandra, GREAT WORK!! Love it, Love it, Love it!! This is how I learned to price my work after meeting and quizzing 100's of artist's at all the art/craft festivals I visited through the years. 1. Keep it simple. Very simple! 2. Remember, from the day we are born we are each allotted a certain amount of time on this earth. Once we have used an hour of our time we can never get that hour back. So try to make the most of the time you have here on earth. Value yourself, and so will others. 3. Think of how much you believe your time is worth. Base this on you needs and skill level. Beginners are usually paid, at a lower pay rate then veterans on the job. So as your skill level increases so should your prices. Don't be afraid to give yourself a raise, you worked hard for it and deserve it. 4. Are you going to be making your entire income from this craft/art or is it just basically a part-time job, leisure activity etc. Think, if I'm going to take a part-time job to supplement my income how much would I expect to make per hour at the minimum, maximum then use the middle of the road amount of those two figures. Personally, I would expect min. $5.00 per hour, max. $15.00 so I charge $10.00 per hour for my work. Since I am fairly new to sculpting ( 3 yrs.) and have absolutely no formal training, unless you consider the Carol Duval show training, my leisure time is not worth as much as someone who has been sculpting for say 10-15 or even 20 yrs. And possibly has a degree in Art & Design etc. 5. Do a lot of market research, ask other artists in your media form how they price their products and why?? Look at the prices that other artists in your specific area of expertise are asking for similar works. Art festival, craft fairs, EBay, Yahoo auctions & news forums are great ways to meet the artists. Human nature is such that almost all humans enjoy talking about their accomplishments, trials etc. 6. One of a kind art is much more valuable then the cottage industry stuff. If you're going to mass produce say 100 of the same thing, it should be more reasonably priced. Unless of course it's a limited edition signed, dated & numbered series, then a bit more is reasonable. Like limited edition poster, painting prints, dolls etc. One of a kinds are of course my favorites, and sometimes our happy accidents are so nearly impossible to replicate anyway. LOL You've all been there, after you finish a piece and someone asks you to make one just like it for them. You'll sit there and say to yourself, "now how did I do that again??" I guess because I "play" with clay, I never bother to record any of my so called recipes. 7. ALWAYS ask more for your product then you expect to get for it, you can always lower the price if the buyer bulks at the higher price, but you can never raise that original price after it's set. But don't just tell the buyer immediately you will lower the price and never throw out a figure to them. Ask them how much they are willing to pay, lots of times, the buyer will give you a higher price then you would have told them. If they want it for say 1/2 price, then give them your 1st best price. NOT your absolute bottom line price. You can at this time employ some marketing techniques, like reminding them that this is a one of a kind piece. I sell my one of a kinds with a certificate of authenticity, signed and dated by myself. Or you don't mind lowering the price a little, but after all you are selling to make some profit. Most buyers understand that way of thinking. Don't be afraid to let the buyer walk away, if they are really interested they will come back. If they don't come back, then the next interested buyer may pay full price no questions asked. Think of all the yard sales, garage sales you've probably visited. Good buyers never pay full price and good sellers learn to negotiate. It is true, "one man's trash is another man's treasure" 7. Explain the process, most none artsy folks don't have a clue how long it takes to make a product. Explaining the process to them has worked so many times for me, I can't count them all. Buyers then understand this didn't just take 10 minutes to make, they realize the value better and are usually more willing to pay the higher price. I have even explained the "from the day we are born we are each allotted a certain amount of time on this earth. Once we have used an hour of our time we can never get that hour back" theory to buyers. It's simple, it makes sense & buyers do understand! 8. The buying public is extremely fickle. Example: Furbies, remember those little talking toys from a few years back? I paid $60 dollars each for mine, but today I couldn't give them away. Same thing with Beanie Babies, Talking Elmo or was that Tickle Me Elmo? You get the idea! What sells today may not sell tomorrow and vice versa. 9. My formula for pricing is as follows: One of a kinds or Limited edition series = $10 per hour times number of hours to make. (Proto types always take the longest to make, so I adjust their price down to the average hours I figure it will take to make another similar piece.) Cottage industry stuff = $10.00 per hour times the number of hours to make all, say 100 of the items plus the cost of the materials to make them, divided by the number of items made. i.e. - $10.00 x 10 hours = $100.00 + $200.00 materials = $300.00 divided by 100 items made = $3.00 per item. This would be my minimum price for those items. 10. Repeat customers, I do give discounts to my repeat customers and for customers who refer their friends and family to me. They deserve a little "lagniappe" (little something extra) after all they are giving me free advertising, and any good marketing person will tell you word of mouth advertising is the absolute best way to advertise. "Think I should just flat out say something in the listing about why I'm raising the prices?" Nope, only if they specifically ask. If the customer likes your work, they will pay the extra. Sorry this is so long, but hope it helps you. Ms. Eli Quin "VanderSandra" wrote in message ... snip Those are terrific little pups, but have pity on the rest of us who sculpt for a living -- set a higher base price. Katherine Dewey Snip I've tried that and maybe it was because it was when I began offering sculpture on Ebay, but I didn't get ANY bids. I might be able to raise it now that I have the attention of some of the Yorkie buyers now, but I don't want to run off the customers that have finally noticed my work exists. Think I should just flat out say something in the listing about why I'm raising the prices? I would appreciate your feedback / suggestions about this. Sandra http://tinyurl.com/27u72 |
#15
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Oh yes, I see what you mean! I am however a lot more diplomatic then just blurting out "How mcuh are you willing to pay" like I wrote, becos I was trying to hurry up. More often then not, I would be diplomatic enough to 1st explain the process then ask more like: Now that you understand how the item is made is the price more justified? Usual response is either "I had no idea how much work was involved or No, but I would give you $x for it. At which point, I can then counter their offer. Talking to the customer is usually a good indicator of if I should even use this approach. It's only a technique, it's doesn't have to be used. I guess using yard sales may not have been a good comparison, since yard sale stuff is no longer my treasure and of course my art work is my treasure. Can't tell you how many times I have gotten a yard sale treasure for much less then I would have paid for it, b/cos the seller dropped the price drastically after my initial request for "your best price". Yes, I know what you mean about items not being priced too. It is also one of my pet peeves. "Asking the customer how much he will pay can also give the customer the idea that now since you know he is interested, that you will take every dime you can get." I thought that was the whole idea behind selling for a profit, trying to make as much money as possible on your products! I always sort of assumed that the buyers already understood that issue. But you have given me a new prospective on that & one I will definitely keep in mind in the future. Thanks, Ms. Eli Quin "Jeanne Rhea" wrote in message r.com... Lots of good points and I understand the reasoning behind all except this one.... Ask them how much they are willing to pay, lots of times, the buyer will give you a higher price then you would have told them. I think this devalues what you are selling. This practice even irks me at a flea market or garage sale. If you do not know how much your product is worth, then don't ask me to tell you. I hate it when I ask how much something is and the response is "How much will you pay me?" I very often tell them that not as much as they are hoping and that they alone know how much they paid for it, (the materials), the time spent to refurbish or make it to sell and what their overhead is. Asking the customer how much he will pay can also give the customer the idea that now since you know he is interested, that you will take every dime you can get. Another reason I hate it when people do not price their merchandise. That way, they can "read" instantly that I am interested and can up the price. Just a pet peeve of mine. Thanks for making the list from your experiences! Jeanne http://www.heartofclay.com eBay auctions http://members.ebay.com/aboutme/vintagenet2/ "eliquint" wrote in message ... Hi All, Sandra, GREAT WORK!! Love it, Love it, Love it!! This is how I learned to price my work after meeting and quizzing 100's of artist's at all the art/craft festivals I visited through the years. 1. Keep it simple. Very simple! 2. Remember, from the day we are born we are each allotted a certain amount of time on this earth. Once we have used an hour of our time we can never get that hour back. So try to make the most of the time you have here on earth. Value yourself, and so will others. 3. Think of how much you believe your time is worth. Base this on you needs and skill level. Beginners are usually paid, at a lower pay rate then veterans on the job. So as your skill level increases so should your prices. Don't be afraid to give yourself a raise, you worked hard for it and deserve it. 4. Are you going to be making your entire income from this craft/art or is it just basically a part-time job, leisure activity etc. Think, if I'm going to take a part-time job to supplement my income how much would I expect to make per hour at the minimum, maximum then use the middle of the road amount of those two figures. Personally, I would expect min. $5.00 per hour, max. $15.00 so I charge $10.00 per hour for my work. Since I am fairly new to sculpting ( 3 yrs.) and have absolutely no formal training, unless you consider the Carol Duval show training, my leisure time is not worth as much as someone who has been sculpting for say 10-15 or even 20 yrs. And possibly has a degree in Art & Design etc. 5. Do a lot of market research, ask other artists in your media form how they price their products and why?? Look at the prices that other artists in your specific area of expertise are asking for similar works. Art festival, craft fairs, EBay, Yahoo auctions & news forums are great ways to meet the artists. Human nature is such that almost all humans enjoy talking about their accomplishments, trials etc. 6. One of a kind art is much more valuable then the cottage industry stuff. If you're going to mass produce say 100 of the same thing, it should be more reasonably priced. Unless of course it's a limited edition signed, dated & numbered series, then a bit more is reasonable. Like limited edition poster, painting prints, dolls etc. One of a kinds are of course my favorites, and sometimes our happy accidents are so nearly impossible to replicate anyway. LOL You've all been there, after you finish a piece and someone asks you to make one just like it for them. You'll sit there and say to yourself, "now how did I do that again??" I guess because I "play" with clay, I never bother to record any of my so called recipes. 7. ALWAYS ask more for your product then you expect to get for it, you can always lower the price if the buyer bulks at the higher price, but you can never raise that original price after it's set. But don't just tell the buyer immediately you will lower the price and never throw out a figure to them. Ask them how much they are willing to pay, lots of times, the buyer will give you a higher price then you would have told them. If they want it for say 1/2 price, then give them your 1st best price. NOT your absolute bottom line price. You can at this time employ some marketing techniques, like reminding them that this is a one of a kind piece. I sell my one of a kinds with a certificate of authenticity, signed and dated by myself. Or you don't mind lowering the price a little, but after all you are selling to make some profit. Most buyers understand that way of thinking. Don't be afraid to let the buyer walk away, if they are really interested they will come back. If they don't come back, then the next interested buyer may pay full price no questions asked. Think of all the yard sales, garage sales you've probably visited. Good buyers never pay full price and good sellers learn to negotiate. It is true, "one man's trash is another man's treasure" 7. Explain the process, most none artsy folks don't have a clue how long it takes to make a product. Explaining the process to them has worked so many times for me, I can't count them all. Buyers then understand this didn't just take 10 minutes to make, they realize the value better and are usually more willing to pay the higher price. I have even explained the "from the day we are born we are each allotted a certain amount of time on this earth. Once we have used an hour of our time we can never get that hour back" theory to buyers. It's simple, it makes sense & buyers do understand! 8. The buying public is extremely fickle. Example: Furbies, remember those little talking toys from a few years back? I paid $60 dollars each for mine, but today I couldn't give them away. Same thing with Beanie Babies, Talking Elmo or was that Tickle Me Elmo? You get the idea! What sells today may not sell tomorrow and vice versa. 9. My formula for pricing is as follows: One of a kinds or Limited edition series = $10 per hour times number of hours to make. (Proto types always take the longest to make, so I adjust their price down to the average hours I figure it will take to make another similar piece.) Cottage industry stuff = $10.00 per hour times the number of hours to make all, say 100 of the items plus the cost of the materials to make them, divided by the number of items made. i.e. - $10.00 x 10 hours = $100.00 + $200.00 materials = $300.00 divided by 100 items made = $3.00 per item. This would be my minimum price for those items. 10. Repeat customers, I do give discounts to my repeat customers and for customers who refer their friends and family to me. They deserve a little "lagniappe" (little something extra) after all they are giving me free advertising, and any good marketing person will tell you word of mouth advertising is the absolute best way to advertise. "Think I should just flat out say something in the listing about why I'm raising the prices?" Nope, only if they specifically ask. If the customer likes your work, they will pay the extra. Sorry this is so long, but hope it helps you. Ms. Eli Quin "VanderSandra" wrote in message ... snip Those are terrific little pups, but have pity on the rest of us who sculpt for a living -- set a higher base price. Katherine Dewey Snip I've tried that and maybe it was because it was when I began offering sculpture on Ebay, but I didn't get ANY bids. I might be able to raise it now that I have the attention of some of the Yorkie buyers now, but I don't want to run off the customers that have finally noticed my work exists. Think I should just flat out say something in the listing about why I'm raising the prices? I would appreciate your feedback / suggestions about this. Sandra http://tinyurl.com/27u72 |
#16
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Yep, the idea is to make as much as we can and I have sold things that I was
attached to for far more than I ever dreamed someone would pay. Still I did not set the price based on what I thought they could pay---but on what I thought my work was worth (even if at the moment I was so emotionally attached that it was more than I would have ever asked if I had just counted my time, expenses, materials, etc.) I tend to decide what I make is worth a little differently than most artists, but so far my methods have worked for me. I completely understand the part about the yard sale thing. Sometimes I can't believe what I hear when I ask for the best price and they say something ridiculously low. I just bought 285 pieces of leather samples 18" square for $10. Even a sample of any material would be way more than that. No price was on the stack and so I asked what the best price was and she said, "Well, I was trying for $100 but I am so sick of hauling these things in and out so $10 and they are yours." By the time I got them to the car, I knew exactly what she was talking about! Thanks again for the post---good things to think about! Jeanne http://www.heartofclay.com eBay auctions http://members.ebay.com/aboutme/vintagenet2/ "eliquint" wrote in message ... Oh yes, I see what you mean! I am however a lot more diplomatic then just blurting out "How mcuh are you willing to pay" like I wrote, becos I was trying to hurry up. More often then not, I would be diplomatic enough to 1st explain the process then ask more like: Now that you understand how the item is made is the price more justified? Usual response is either "I had no idea how much work was involved or No, but I would give you $x for it. At which point, I can then counter their offer. Talking to the customer is usually a good indicator of if I should even use this approach. It's only a technique, it's doesn't have to be used. I guess using yard sales may not have been a good comparison, since yard sale stuff is no longer my treasure and of course my art work is my treasure. Can't tell you how many times I have gotten a yard sale treasure for much less then I would have paid for it, b/cos the seller dropped the price drastically after my initial request for "your best price". Yes, I know what you mean about items not being priced too. It is also one of my pet peeves. "Asking the customer how much he will pay can also give the customer the idea that now since you know he is interested, that you will take every dime you can get." I thought that was the whole idea behind selling for a profit, trying to make as much money as possible on your products! I always sort of assumed that the buyers already understood that issue. But you have given me a new prospective on that & one I will definitely keep in mind in the future. Thanks, Ms. Eli Quin "Jeanne Rhea" wrote in message r.com... Lots of good points and I understand the reasoning behind all except this one.... Ask them how much they are willing to pay, lots of times, the buyer will give you a higher price then you would have told them. I think this devalues what you are selling. This practice even irks me at a flea market or garage sale. If you do not know how much your product is worth, then don't ask me to tell you. I hate it when I ask how much something is and the response is "How much will you pay me?" I very often tell them that not as much as they are hoping and that they alone know how much they paid for it, (the materials), the time spent to refurbish or make it to sell and what their overhead is. Asking the customer how much he will pay can also give the customer the idea that now since you know he is interested, that you will take every dime you can get. Another reason I hate it when people do not price their merchandise. That way, they can "read" instantly that I am interested and can up the price. Just a pet peeve of mine. Thanks for making the list from your experiences! Jeanne http://www.heartofclay.com eBay auctions http://members.ebay.com/aboutme/vintagenet2/ "eliquint" wrote in message ... Hi All, Sandra, GREAT WORK!! Love it, Love it, Love it!! This is how I learned to price my work after meeting and quizzing 100's of artist's at all the art/craft festivals I visited through the years. 1. Keep it simple. Very simple! 2. Remember, from the day we are born we are each allotted a certain amount of time on this earth. Once we have used an hour of our time we can never get that hour back. So try to make the most of the time you have here on earth. Value yourself, and so will others. 3. Think of how much you believe your time is worth. Base this on you needs and skill level. Beginners are usually paid, at a lower pay rate then veterans on the job. So as your skill level increases so should your prices. Don't be afraid to give yourself a raise, you worked hard for it and deserve it. 4. Are you going to be making your entire income from this craft/art or is it just basically a part-time job, leisure activity etc. Think, if I'm going to take a part-time job to supplement my income how much would I expect to make per hour at the minimum, maximum then use the middle of the road amount of those two figures. Personally, I would expect min. $5.00 per hour, max. $15.00 so I charge $10.00 per hour for my work. Since I am fairly new to sculpting ( 3 yrs.) and have absolutely no formal training, unless you consider the Carol Duval show training, my leisure time is not worth as much as someone who has been sculpting for say 10-15 or even 20 yrs. And possibly has a degree in Art & Design etc. 5. Do a lot of market research, ask other artists in your media form how they price their products and why?? Look at the prices that other artists in your specific area of expertise are asking for similar works. Art festival, craft fairs, EBay, Yahoo auctions & news forums are great ways to meet the artists. Human nature is such that almost all humans enjoy talking about their accomplishments, trials etc. 6. One of a kind art is much more valuable then the cottage industry stuff. If you're going to mass produce say 100 of the same thing, it should be more reasonably priced. Unless of course it's a limited edition signed, dated & numbered series, then a bit more is reasonable. Like limited edition poster, painting prints, dolls etc. One of a kinds are of course my favorites, and sometimes our happy accidents are so nearly impossible to replicate anyway. LOL You've all been there, after you finish a piece and someone asks you to make one just like it for them. You'll sit there and say to yourself, "now how did I do that again??" I guess because I "play" with clay, I never bother to record any of my so called recipes. 7. ALWAYS ask more for your product then you expect to get for it, you can always lower the price if the buyer bulks at the higher price, but you can never raise that original price after it's set. But don't just tell the buyer immediately you will lower the price and never throw out a figure to them. Ask them how much they are willing to pay, lots of times, the buyer will give you a higher price then you would have told them. If they want it for say 1/2 price, then give them your 1st best price. NOT your absolute bottom line price. You can at this time employ some marketing techniques, like reminding them that this is a one of a kind piece. I sell my one of a kinds with a certificate of authenticity, signed and dated by myself. Or you don't mind lowering the price a little, but after all you are selling to make some profit. Most buyers understand that way of thinking. Don't be afraid to let the buyer walk away, if they are really interested they will come back. If they don't come back, then the next interested buyer may pay full price no questions asked. Think of all the yard sales, garage sales you've probably visited. Good buyers never pay full price and good sellers learn to negotiate. It is true, "one man's trash is another man's treasure" 7. Explain the process, most none artsy folks don't have a clue how long it takes to make a product. Explaining the process to them has worked so many times for me, I can't count them all. Buyers then understand this didn't just take 10 minutes to make, they realize the value better and are usually more willing to pay the higher price. I have even explained the "from the day we are born we are each allotted a certain amount of time on this earth. Once we have used an hour of our time we can never get that hour back" theory to buyers. It's simple, it makes sense & buyers do understand! 8. The buying public is extremely fickle. Example: Furbies, remember those little talking toys from a few years back? I paid $60 dollars each for mine, but today I couldn't give them away. Same thing with Beanie Babies, Talking Elmo or was that Tickle Me Elmo? You get the idea! What sells today may not sell tomorrow and vice versa. 9. My formula for pricing is as follows: One of a kinds or Limited edition series = $10 per hour times number of hours to make. (Proto types always take the longest to make, so I adjust their price down to the average hours I figure it will take to make another similar piece.) Cottage industry stuff = $10.00 per hour times the number of hours to make all, say 100 of the items plus the cost of the materials to make them, divided by the number of items made. i.e. - $10.00 x 10 hours = $100.00 + $200.00 materials = $300.00 divided by 100 items made = $3.00 per item. This would be my minimum price for those items. 10. Repeat customers, I do give discounts to my repeat customers and for customers who refer their friends and family to me. They deserve a little "lagniappe" (little something extra) after all they are giving me free advertising, and any good marketing person will tell you word of mouth advertising is the absolute best way to advertise. "Think I should just flat out say something in the listing about why I'm raising the prices?" Nope, only if they specifically ask. If the customer likes your work, they will pay the extra. Sorry this is so long, but hope it helps you. Ms. Eli Quin "VanderSandra" wrote in message ... snip Those are terrific little pups, but have pity on the rest of us who sculpt for a living -- set a higher base price. Katherine Dewey Snip I've tried that and maybe it was because it was when I began offering sculpture on Ebay, but I didn't get ANY bids. I might be able to raise it now that I have the attention of some of the Yorkie buyers now, but I don't want to run off the customers that have finally noticed my work exists. Think I should just flat out say something in the listing about why I'm raising the prices? I would appreciate your feedback / suggestions about this. Sandra http://tinyurl.com/27u72 |
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I don't use Ebay, so I'm not sure what to say save that your work is worth
more. I'd advise you to set the price you want, not the price that assures a sale. Eventually the right customer will bid. Katherine Dewey "VanderSandra" wrote in message ... I've tried that and maybe it was because it was when I just started, but I didn't get any bids. I might be able to raise it now that I have the attention of some of the Yorkie buyers now, but I would appreciate your feedback or suggestions about this. Sandra |
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