Pricing work

[Shogun]

I"m having trouble deciding how to determine a fair price for selling my work to sell at the flea market. This plaque is about 9"x9" and took about 5 hours to make. I priced it at $40. last week it didn't sell bacause a guys wife thought it was too high priced. What are your thoughts?

[flockshot]

This partiular piece has a very limited customer base.  The customer must be a Marine, and must like scroll work, and must be where you were selling last week, and must like the price.  Apparantly, you had a customer with all those things, plus a 'financial advisor' with a different opinion.
 
The point I am trying to make is, just because someone doesn't buy because they feel the price is too high doesn't mean the item is overpriced.  After all, there was a husband there who felt it was not overpriced.

Here is a great opportunity for you to grab one of your business cards, write on the back "christmas list Marine plaque" and hand it to the customer with a smile.  Everybody needs suggestions for their family for Christmas and nobody has a list.  My guess is that he will end up with your work on his wall if he truely did like it.

P.S. Never consider your hours and materials in pricing.  Always consider your hours and materials in figuring profit. (The price is always "what ever the market will bear")

[newfie]

you listen to most of the people on here and they well tell you to stay away from flee markets and go to craft markets you get better sales at them.

[ToverT]

First of all, I think the piece is very very well done!!  Is it worth $40.00?  I think it is even though I'm retired from the Air Force, LOL.   Probably only us scrollers know the time and effort it takes to make a piece like that and we should be getting $100 for the piece!  But, our efforts come from the love of the hobby and we don't get paid for Love! 

I say keep the price where you feel comfortable, the right person will come a long and buy it.

Again, GREAT work!

Tommy T

[Toneman]

Keep the price at $40.00. I had 4 portraits of Native Americans listed at $40.00 and it took three crafts shows but I did sell all of them, three to one lady. So, you just have to have the right person to find them. She even suggested I was too cheap. Those who appreciate scroll art and the time spent cutting it are willing to pay the price, knowing it is hand cut and not massed produced in a foreign country!

Tony,aka,Toneman

[Billy in Va]

I agree with Newfie.  Around here  ( Eastern Virginia)  folks that go to flea markets tend to want a bargain.  Thrity Fourth and up handmade items of any kind do not usually do well.  My last show in 2012 was a craft show and I had some military plaques on display. For some reason the interest that day was Navy.  didn't sell any but gave out a number of cards. A "Procrastinator" called and finally picked up a Navy plaque 2 days before Christmas. The plaque is the self framing type and I sell them for $25.

[Shogun]

Thanks you all for the advice and compliments on my work. I eas considering dropping the price but I was also thinking that this plaque, as well as the other branches of Service ones I made are worth $40 if their worth a nickel so after reading you're advice I think I'm just going to price my work and not worry about it selling. Like Tommy T said: I do this because I love to scroll.

[flockshot]

I like your attitude Shogun.  Selling is like scrolling.  The more you do it, the better you get at it.

[Danny]

Your work looks Great.  I also vouch that FM are only for people looking to spend a buck and hope to come home with 10 worth.  A well established Craft Show will bring
all kinds of people that are there because only Hand Made Crafts are for sell.  I am down here in Alabama and do a craft show in Nov. and some years are better than others.  Have learned that people around here are Leary about spending a big dollar.
Have members here that live in different cities that tell of selling real well.  Anyway
 
I would say your Plaque is well worth $40 Plus, but around here maybe I would get $25.      My 3 cents worth....  Danny  :+}                                               

[king310]

Shogun here is a link to read. It deals with pricing your work.
The women who thought your work was over priced did not see something she wanted. If she did then she would of thought that $40 was a good deal. Sometimes the spouse will think the other does not need something they don't like or understand.

You noticed I said spouse?  I have seen it work both ways. It's like the plot in the movie A Christmas Story "Ralphie you'll shot your eye" Mom hates it and Dad gets the bb gun because he understands........

http://www.scrollsawgoodies.com/2012/04/how-to-price-your-scroll-saw-work/

[IBMer]

Time to do a little Marketing...

Label it at $59.95, then mark it on Sale for $45.   Everyone is looking for a bargain these days and will buy Sale items more voluntarily than full price.

Consider putting up a sign that 5% of all proceeds will be donated to the Veterans fund.    Mark your item up accordingly and put the donation on Your taxes at the end of the year.   People buy things more voluntarily when told that they will be helping others.     

Put up a sign that your products are all Hand Crafted in the USA by Americans and put up a big American flag.    Your customers will have already looked at 50 other vendors before you.   Make sure your stand, STANDS Out and gets the buyer's attention.   Banners, Colors, how about a video monitor showing a clip of yourself making the items.  Maybe play military recruitment commercials (I'd check on the legally of doing this last one, but the local recruiter may appreciate free advertising and give you some video clips to use).

John

[cdrover(Clyde)]

You are dead on John. Companies spend millions upon millions to promote their products. In a past life I managed a Jewellery store, part of a national chain here in Canada. One day a man came in and inquired about a particular jewellery box and asked what was the best peice he could get it for. Being manager and a little fool hearty I said, "For you, today, you can have it for $100.00 tax included". He was as pleased as punch as he wanted it as a gift, and he saw the value in the deal. When I saw his delight I had to come clean and tell him the regular price was $80.00 and tax would make is about $90.00. Everytime after that when man came into the store he would come to me, but he always wanted to see the sticked price first. We don't have to spend big bucks to promote ourselves but presentation is everything.

[Danny]

All I can think of after reading JOHNS post is Wow!  This just could be the way....
Would take a lot of Prep., but I can see Positive things that could happen.
     Thanks for giving me some New Ways of Dealing with the Crowd....  Danny  :+}

[IBMer]

See, I did pay attention in Business School ;-)   But it's also common sense.    I went to a crafts show last month and thought to myself, whoa, it's like going to table after table of the same stuff. 

The booths that got my attention were the ones with interesting looking displays, cool signs and such.   

[julief]

I never discount my stuff.  I work too hard on it and try to price it fairly.  The venue you sell at is partly what dictates what you can sell it for.  A cross I sell at a craft fair for $40.00 will go for $80.00 at a christian book store, gift shop or gallery.  I had a guy come by a show once and said " I'll give you $35.00 for that right now."  It was close to the end of the day and I think he thought I would give in.  I told him I appreciated the offer, but it was not for sale for $35.00 it was $45.00.  He came back while I was packing up and bought it for $45.00.