Thoughts on Pricing

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Blog series by pashley updated 06-17-2012 11:59 PM 3 parts 19896 reads 19 comments total

Part 1: Thoughts on Pricing, part one.

06-06-2012 01:24 PM by pashley | 11 comments »

Pricing can be a confusing part of the woodworking equation, if we are trying to sell our pieces at profit. We are used to being told what to do – cut it this length, assemble in this order, etc. We get that. Pricing is like black magic. I’m still trying to figure it out. There’s an interesting phenomenon called “perceived value”, which is a nebulous value, yet should be taken into account when pricing. Let me tried to explain what perceived value is, at...

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Part 2: Thoughts on Formulating the Right Price

06-08-2012 12:19 PM by pashley | 5 comments »

Let me say first off, this is not a complete formula, simply some thoughts I’m jotting down for discussion. Here are some factors that have come to mind when considering the formulation of a price: Cost of making the product How much did you spend on materials? How much did your shop “charge you” to make it? Time making the product How much time did you spend picking out the lumber? If you designed it, how much time went into that? How much labor time did it take to...

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Part 3: Thoughts on Pricing, #3: I'm such an idiot!

06-17-2012 11:59 PM by pashley | 3 comments »

I’m lucky I can walk. Apparently, I’ve had my head up my rear end for so long now regarding pricing, that I’ve come to that conclusion. I’ll explain. I’ve been working on the Limbert #240 table for a client. I’ve been keeping track of my hours – looks like about 35 hours total, when it’s all said and done. I think that’s quite a bit for that project, BUT, it was my first time making it, and I’m sure I could trim off several hours ...

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