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I was surprised at how well this photo came out and I think that it will certainly be a Moo Card in the future. Some of these key rings are left over from the craft fair and many more created for the fair and since. At the weekend they will be listed in my Etsy shop. Now I would like your opinion on pricing. I find this tricky, I know how long things take to make, the materials needed etc and all I am after is for things to tick over so my crafting is self funding, if that mkes sense. I have read that crafters often under price themseleves, but also that if items are not selling then perhaps they are priced too high. Sounds a bit like the chicken and the egg doesn't it?
So I am going to lay it on the line..
Here is one of my keyrings,
All hand cut, white metal heart brad in the centre, chain stitch in yellow embroidery thread, appliqued pink heart, lightly stuffed, snake chain attachment, approx 7cm (nearly 3inches) in length.
What price would you be prepared to pay? This is a genuine question because recently I have read many blogs which have set up Etsy and web shops and costing is a big issue. So I thought I would try a bit of market research.
When I buy it tends to be for presents, I know I make things but sometimes an item catches my eye. Sometimes I like to treat myself or find something that I can not make, for example crocheted items, or something unusual, and I am fed up with mass produced shop rubbish.
What catches your eye when it comes to hand made items?
It is often mis-understood that hand made items = cheap rubbish which is a pity. That was one area of feedback that I did get from the craft fair, that the time , skills, etc could be seen and were appreciated.
On a different subject.. I have started to sew the backing onto Sophie's quilt and I am determind to finish it over the next few days. Unfortunately I did seem to unpick more than I stitched as the backing kept being unco-operative but it is getting there. I am really pleased with the look of it and I shall post it hopefully over the weekend.
Well... 'Desparate Housewives' is about to start so I'm off.
See you tomorrow
:-)
P.S Remember to tell me what you think of the 'pricing issue'. I would love to hear what you think and others may benefit too.
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12 comments:
Hi you! I've just put some similar felty bits on Etsy for $12 (about £6) - I didn't think this was too much to ask. Some people would pay more than that for a sandwich and coffee! But you can nver tell - 'there's nowt stranger than folk!'
x Vicky x
Lovely keyrings, I agree with Vicky 12 dollars sounds fine to me. Thing is you have to think of the time and care that goes into handmade items. I sort of think if people want knock down goods at knock down prices, send them to the high street :)
Twiggy x
I'd say £5 - £7 sounds about right - especially if you're going to do etsy or similar.
Also ... just noticed you're in Cornwall ... me too!
Hubby always says that a rule of thumb is cost of goods multiplied by 2.5. However i find that that rule can make things too expensive for this market. I certainly dont think you should be charging less than a fiver simply because of all the time you have put into it
I understand your concern about pricing your handmade goods, the only way I was able to establish a price was when I saw what others were charging for similar items.
I like the idea of the cost times 2.5, but when it comes to free material.... how does that figure? Like the plastic bags or the candy/chip or magazine wrapper materials that are free in my craft? So I have to rely on the price things are selling for, for similar items. I think the prices on the items you have for sale are very fair, and maybe even a bit under what I have seen in my searches. I only wish I could sell something so I can start buying!!!! LOL, I am trying to be a good girl and not buy anything till I sell something but so far, you have made me want one of each of everything you make!!!!!
I have trouble with pricing. I know roughly what an item is really worth, but at the end of the day you can only get what someone is prepared to pay. My other half reckons you have to at least double up, but sometimes that just makes as item too expensive. I wish life was simple! x
I agree, pricing is tricky! I just do my best to take into account the cost of materials and the amount of time I spent making the item. I have to get paid for my hard work!
hmm... most shops mark up somewhere between x2-x2.5 .. I am having similar pricing conundrums but decided to do what a dressmaker would do, which is charge an hourly rate for time on top of materials cost ... so if you set your hourly rate, it might be easier to work things out.. a formula?xx
very very cute
have a good sunday
kisses
Hi there,
It is a common problem when pricing items. It depends where you are selling things I think. People who buy from craft fairs seem to realise more what goes into the making of a handmade item and are willing to pay a wee bit more. I have sold at craft type fairs and sold loads more at prices I was worried about charging, than at a school fete with cheaper prices. I find it funny when people tell me I'm not selling things for enough money! You just can't win
PS
I have your keyring proudly swinging from my summery bag and it has been all the way to Inverness this weekend. Thanks again!
Hiya
Just found your blog, and this thread really interested me as I am hoping to do a craft stall soon, and have never priced my stuff before - I like the hourly rate idea, but in my other business I charge £30 an hour ($60?)
so I think that may be a little over the top - and I really do agree with charging more than a cup of starbucks!
keep up the good work - hope the marking goes swiftly!
Kath
x
This is so beautiful and you are so talented! Here you have also a few great personalized keyrings ideas. They are printed though. (I would never be able to do this kind of keyrings by myself:) I am waiting for your next piece of art:)
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