Reply by Kelly

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Posted on How do i price my work?

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2518 posts in 3502 days

#1 posted 01-25-2018 05:20 PM

At least hold back your favorite pieces for top dollar.

For years, people told me I couldn’t get top dollar for things I made. Consider, for example, walking sticks. Search the net and you will see a lot of nice work going absurdly cheap. However, just because they let their work go cheap doesn’t mean you have to. I started at around $85.00 for a stick I could finish in a few hours, if I did several. For example, I could put out twenty of my curved sticks that are just made from big box store, knot free lumber.

Where you advertise can be huge. For example, Amazon might give you the ability to charge higher prices than EBAY (I’ve sold items on Amazon, then bought them for a fraction on EBAY.

Of course, you’ll pay some fees for using others sites.

I don’t mine consignment sales. I just keep good records and get a signature, just like the owner would with any other vendor delivering goods. Sometimes, I’ve had to tap dance to get them to consider the headache of dealing with me (records), but it’s easy to push the fact they carry no risk of having to buy something in hopes it will sell. I filled an entire Waterbed store back in the day. Worked great for me and them.

One of the headaches of consignment is the add-on pricing. Stores want to add their percent to your price. That’s fine, IF they do not subtract their share from the retail, dipping into your share.

To solve that, I just go with the “let’s take your 25%/30%/50% off the retail route. To get to the retail, just divide your percentage of the sale into your wholesale.

REMEMBER, test calculators before relying on them to do this. I got into it with some self professed match guru who ridiculed me for claiming I knew of a glitch in many calculators (he showed himself to be no less a part time idiot than the rest of us). A simple test, at the store shows many cannot perform this SIMPLE function:

1) Divide the price you need (wholesale) by your percent. This gives you the retail price.

2) To proof the results, enter the retail amount and subtract the stores percent. This should give you your wholesale, but not all calculators hanging on the stores shelf will.

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