Pricing help needed ...

Thanks. This is pretty much what my instincts tell me, too. Somehow,
what you get for what you make has to satisfy your customer AND pay
your bills, plus some for a 'buffer' and some for growth.

And if that isn't happening, you have to change your product, your
methods, your materials, your market ... or all of the above.

Simple, right? All you need is dazzling skill and a crystal ball ;-)

Deirdre

On Fri, 29 Aug 2003 00:48:32 -0400, "CLP" wrote:

I remembered that I had just read this conversation recently in the rcj
group, and thought it had merit. This answer came from "MarbleMyke"

Your pricing method only considers the cost of your materials and not the
most
important, your time. You might cut costs by buying in bulk, but your
biggest
return (in the long run) is being able to produce more in less time. The
method
I use works with materials whose cost is negligable as well as costly.
First, I
would figure out precisely how long it takes to make the piece and decide
how
much you want to earn per hour. Since I have been making wire jewelry for
more
than ten years, I pay myself 18 dollars an hour. To this I add double the
cost
of the materials. If prone to giving discounts or high overhead, maybe X
2.5.
So if I use $2 worth of materials and spend 20 minutes making a bracelet the
retail price I set is $10. If someone wants ten or more of this item, my
wholesale pice is half that because after making several of the same item,
the
time it takes to make it is reduced drastically. In other words, if it takes
20
minutes to make the first one, by the time I've made 5, it's only taking 10
minutes, cause I don't have to think about each step anymore. So, using your
materials and my formula, I would have to spend 4 or 5 hours making the ring
in
order to set the price at $140. Hope this is helpful,
-MarbleMyke

On Fri, 29 Aug 2003 17:38:04 GMT, "Tante Lina"
wrote:


There's a good book for artists called _How to Survive and Prosper As an
Artist: Selling Yourself Without Selling Your Soul_ by Caroll Michels that
has, among many other helpful ideas, a detailed suggestions for creating
publicity about yourself.


I love the title. I'll have to look for this...

When I'm ready, one way I plan to introduce my "fancy" line locally is to
donate a piece to a charity fundraiser that's auctioning other art items.
Usually they list contributors, which could get my name posted all over
town, and it's one more way to make sure my work is seen as art rather than
as a mass produced consumer product. I'm giving each piece a name - you
notice that lampworkers tend to name their sets - this is another way to
differentiate them as "art". A charity auction involves the town's well-off
and trendiest people, so it's targeted marketing - with a potential bonus if
the auction process happens to drive up the perceived value.


This kind of marketing-by-donation has occurred to me, and I think it
has a lot of potential for breaking into much higher-end buying
circles.

I am willing to give it a try once I have a stunning enough piece to
offer. For the moment, I am on the lookout for 'bread and butter'
markets and opportunities to get me started. But I don't rule out
anything for the long term.

Thanks for the suggestions.

Deirdre

One thing to keep in mind, you double wholesale prices, but not retail
prices. It's very different to double a good bulk or wholesale price, than
to double your LBS's top dollar price. Similarly, you may not be able to
double prices for lampwork.

Tina


"CLP" wrote in message
news:tWA3b.11760$j26.9008@lakeread02...
I remembered that I had just read this conversation recently in the rcj
group, and thought it had merit. This answer came from "MarbleMyke"

Your pricing method only considers the cost of your materials and not the
most
important, your time. You might cut costs by buying in bulk, but your
biggest
return (in the long run) is being able to produce more in less time. The
method
I use works with materials whose cost is negligable as well as costly.
First, I
would figure out precisely how long it takes to make the piece and decide
how
much you want to earn per hour. Since I have been making wire jewelry for
more
than ten years, I pay myself 18 dollars an hour. To this I add double the
cost
of the materials. If prone to giving discounts or high overhead, maybe X
2.5.
So if I use $2 worth of materials and spend 20 minutes making a bracelet
the
retail price I set is $10. If someone wants ten or more of this item, my
wholesale pice is half that because after making several of the same item,
the
time it takes to make it is reduced drastically. In other words, if it
takes
20
minutes to make the first one, by the time I've made 5, it's only taking
10
minutes, cause I don't have to think about each step anymore. So, using
your
materials and my formula, I would have to spend 4 or 5 hours making the
ring
in
order to set the price at $140. Hope this is helpful,
-MarbleMyke

--


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"Deirdre S." wrote in message
...
This message is directed to Eclectic Beadery members in particular,
but also to anyone else willing to offer suggestions.

I have uploaded a few pictures of new work to my picturetrail site at:

http://www.picturetrail.come/dsand

The last folder on the page is full of stuff I propose to make my
first offerings on Eclectic Beadery, but I am at a loss to know how to
price it. Some things, like the eyeglass leash, have cheap components,
but take a couple of hours to make. Some have expensive components
(like ocean jasper) and took approximately an hour to design and make.

The peyote cuff bracelets take 2.5 - 3 hours to make and finish...

The hammered copper necklace was something I worked on and put aside,
worked on and put aside, tried something and wasn't satisfied, took it
apart and tried something else. So estimating the time involved on
that one is a muddle.

How do I find a workable cocktail that combines 'what went into
materials', 'how long it took', 'how much skill is involved' plus the
ineffable 'design factor', which relates to how dramatic or unusual or
fashionable it is, or whatever the heck else goes into its market
appeal?

I am a beginner in search of experienced marketing advice...

H E L P ! please...

Deirdre

I found this in the local public library catalog and put a hold on
it...

Thanks!

Deirdre

On Fri, 29 Aug 2003 17:38:04 GMT, "Tante Lina"
wrote:

There's a good book for artists called _How to Survive and Prosper As an
Artist: Selling Yourself Without Selling Your Soul_ by Caroll Michels that
has, among many other helpful ideas, a detailed suggestions for creating
publicity about yourself.

Deirdre S. wrote in message ...
I found this in the local public library catalog and put a hold on
it...

Thanks!

You're welcome! I've really found it helpful.

* TL *

I say "yesterday, I go to the store", and that kind of thing, I can't talk in
past tense or future tense, and some things, I talk weird

Sounds like a type of dyslexia, Mary.

Carol in SLC
New jewelry (8/28): http://members.aol.com/carolinslc/hoyt1.jpg

nope. american. My dad says by the time I left Germany when I was 7, I was
speaking "fluent" German, but lost it by the time I got back there at 9.
Who knows??? I do have a bad memory, so that's probably part of it.

Mary


--
Joy multiplies when it is shared among friends, but grief diminishes with
every division. That is life.
Drizzt Do'Urden (Exile - R.A. Salvatore)
================
MeijhanaDesigns - Unique Earrings and More!
http://www.meijhanadesigns.com
"Kaytee" wrote in message
...
In article t, "Mary
Rurup"
writes:

Basically, I say
"yesterday, I go to the store", and that kind of thing, I can't talk in
past
tense or future tense, and some things, I talk weird....

Hmmm.... was your first language Chinese? That IS proper grammar in
Chinese--
there are no tenses, no declinations, no plurals, and no genders to worry
about....
Kaytee
"Simplexities" on
www.eclecticbeadery.com
http://www.rubylane.com/shops/simplexities