Comments on: High Rollers or Bargain Hunters? Pricing to Sell Online

By: Linda Simpson

Linda Simpson — Sat, 26 Mar 2011 15:45:25 +0000

We have our jewelry in several galleries and when pricing I have to keep in mind the wholesale end of the business. I don’t think it’s looked upon very highly if I reduce my prices on Etsy to less than the average sales price in the store. Also, if someone were to contact you to put your items in a shop, would you be able to sell them similar items for less than you are selling on Etsy? Most galleries take 30, 40, even 50% of the sale.

Just my thoughts. Thanks for asking!

By: megansbeadeddesigns

megansbeadeddesigns — Tue, 01 Mar 2011 17:57:54 +0000

VC, I agree with you 100%!!!!

Get established, and THEN gradually raise your prices, that is my advise as well.

By: VC

VC — Tue, 01 Mar 2011 08:38:09 +0000

Actually, I agree with the sentiment that new sellers need to really look at their prices objectively. Until they’ve reeled in a few sales to get their feet wet and built a reputation and brand, they can’t really afford to price as high as most equations advise. They have to look at the market and see what others are charging and go from there, especially in saturated areas, such as jewelry. Yes, fellow artisans probably can figure the time and cost of the item, but the average buyers don’t know. And quite frankly, they sometimes don’t care. They just look at an item and decide if they want to pay that much for the product. If they feel they’re getting a bargain, then they’re more likely to buy.

Right now the economic environment is not like it was a few years ago, where people were more willing to spend more on art, handcrafted, or other luxuries, especially those made by new artisans. They’re not as willing to take those risks. Right now people want to get the biggest bang for their buck, which sometimes means trimming prices make your items more appealing.

Now once a seller has established themselves as a name or brand, then they can get away with charging more. Then the buyer will be more willing to shell out the extra funds because they feel they’re making an investment or treating themselves. A lot of marketing and sales boils down to Psychology and fiddling with people’s brains.

At least, that’s what I’ve noticed.

By: Terrance

Terrance — Tue, 01 Mar 2011 05:53:05 +0000

There is nothing wrong with giving a deal. But you must know how much you are losing so that you can make up the loss later on. If you do not make up the loss then you fall into the vortex of working hard for no gain.

Remember. If you can’t make a profit then don’t make it. It you do accept the loss then you are a doing this for fun and you do not need the money thus you are taking away the sales of someone who needs the cash. If one does it for fun fine. Give it away to friends.
I say this without malice.

By: megansbeadeddesigns

megansbeadeddesigns — Fri, 25 Feb 2011 22:10:36 +0000

Jennifer, how nice of your customer to do that for you! And I totally agree about charging too less, then the whole thing just starts to feel like it isn’t even worth it! Plus there is that “cheapening” effect, some potential buyers may think that your items are priced really low because there is a quality issue. There really is a balancing act going on.

By: Jennifer (gizmofiberarts)

Jennifer (gizmofiberarts) — Fri, 25 Feb 2011 18:14:36 +0000

Although I make crochet and knit items, this article applies to them as well. I tend to price my items somewhere in the middle. I would have to charge $40-50 for a kids hat if I paid myself by the hour. On the other hand, if I pay myself too little it isn’t worth selling at all, considering how much work I put into it. Then there is the question of what price people will pay for it. Sometimes “too low” drives people away as well, as they feel they are taking advantage of the seller. I recently had someone insist on paying me 30% more than what I was charging because she said “it’s worth more.”

By: megansbeadeddesigns

megansbeadeddesigns — Fri, 25 Feb 2011 17:53:33 +0000

Dawn, I think you prices – and shop – are great!!

By: Dawn

Dawn — Fri, 25 Feb 2011 11:55:20 +0000

I’m a hobbist- not a professional beader. I price my pieces based on an hourly rate of $10/hr plus the cost of materials. After I determine that price I take a hard look look at the piece and adjust it a little based on- “would I pay that price for that piece?”

By: megansbeadeddesigns

megansbeadeddesigns — Wed, 23 Feb 2011 23:24:30 +0000

Mary Ellen, I completely see that side too… i guess what I’m arguing against, is the assumption that every artist (or jewelry designer, or whatever) who wants to price low does not mean that they are devaluing their work, or do not have confidence in what they do.

By: Mary Ellen

Mary Ellen — Wed, 23 Feb 2011 23:00:33 +0000

I agree with the idea that everyone should be able to afford beautiful handmade art, but also can see how some artists really need to make a living at what they do, so I guess I’m on the fence on this one.