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10/14/2004 9:26:45 AM
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Guest
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Okay, DH thinks I`m not charging enough. I`ve been charging $30.00 per scarf (one ball, garter stitch himalyan silk, mat. cost $8.00), $30.00 per himalyan trinket bag (one ball per bag), $35.00 for fish tail bag. What do you think? Also, I`m finishing a MacChick Poncho (see blue poncho in recent postings) in Pachuko Organic Cotton (material costs $20.00 `cause I got it at Elann two years ago, regular materials costs would be $55.65 at today`s prices). What do you think I should price it at?
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10/14/2004 10:10:30 AM
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Cate
Posts 2212
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How much time does it take you & what is it worth? What about overhead? Packaging? I take all of that into consideration and also look at any kind of comparable competition. You aren`t planning on ever selling them wholesale are you? If you were you would get into lots of other considerations.
Cate
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10/14/2004 10:21:06 AM
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Alice Trueman
Posts 1784
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I think that eight to ten cents US per yard of yarn, plus the cost of the yarn, plus a bit on top for finishing is fairly standard. Fancy patterns are more per yard due to complexity. $20 finishing for an adult-size sweater would be very fair to the customer.
Multiplying the cost of the yarn by a factor is NOT FAIR to the knitter. Cheap acrylic takes much more effort to knit than alpaca, so should claim at least the same price.
It also depends on local economic conditions. Go and pay a visit to the most up-scale shop in your vicinity which sells similar products, and have a really good look at the stock. Is it made in America? How does the fibre compare in quality to yours? Is it hand-finished? Then try asking 60% of the shop pricing.
An example of pricing here at the commercial galleries (as opposed to home-based business studios)and Artcraft is those Eros scarves knitted in mock-Turkish or similar stitch are about $90CDN which is now $72US. They sell. In fact when I wear moebius samples in Eros or Kitty from last year`s retreat, I often get comments about my having `bought one, too`.
Don`t price too low, price affects how people judge quality. Attractive display makes all the difference. It may be worth investing in some attractive boxes and tasteful tissue paper. Those gold and silver seals cost a few cents each yet give a very classy look to the wrapped package. I`m out of the thrift store business now, but I certainly learned a lot in 41/2 years - a few inches of nice ribbon (donated) and about 30 seconds of time, turns a 25 cent napkin into a fifty cent one in a nice display with wine glasses and candles (all donated). Hang tags with your name on the front are another good touch - use the folded kind with the blank insides, so that the customer can write an instant greeting to the receiver with a good pen which you have at the ready. You can run them through your printer if you use light card stock or construction paper, and have DD fold them, punch a hole in the corner, and attach a pretty piece of light cording. This isn`t child labour, it`s contributing to the family economy.
Alice
Salt Spring Island
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10/14/2004 10:34:40 AM
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Guest
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Packaging (if the customer wants a bag runs about $75.00 including tissue paper). The garter stitch scarves take about one night (approx. 2 - 2 1/2 hours and material costs of $8.00). Of course, a night needs to be defined as: between watching TV, see what the kids want for the umteenth time, letting the dog out, etc.) The bags generally 1-2 nights (approx. 3 - 4 hours total). I`d like to think my "hobby time" is worth at least $7.00 per hour.
The poncho is another story. It`s almost all lace, took all week (approx. 21 - 25 hours) and I need to factor in that it`s organic Color grown cotton and I`m selling at an All Organic Farmers` market in Upscale Atlanta. I was thinking of asking at least $175.00 (which doesn`t really "pay me" well but I`d don`t if I`d get more). I guess I could ask $200.00 and see what happens.
Unfortunately I live 1 hour away from market and won`t be able to visit any shops but lots of the top designers have shops right down the street in Virginia Highlands.
And no!!!! I would never sell wholesale!
Thanks for your opinions!
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10/14/2004 1:51:29 PM
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Jamie
Posts 3462
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Hi Corinna, Your prices sound most reasonable. All the comments are good. Pricing is the most difficult thing I do and I`ve never priced high enough. The silk scarves would probably bring $40-50 as easily as $30. I sold garter st. eyelash scarves for $32 last fall, then priced a similar one (yarn had cost me more) at $40 and it sold quickly. It does depend on overhead, commission or cost of booth. The knit scarves in this sale (lots of artists participating) were priced from $20 to $200 and there wasn`t much difference among them! The poncho should be $150 - $200. Congrats on getting so many products finished! I have finished three silk bags, but nothing sold at booth in September; I have one sale in November and one in December. Hope all is well. Jamie
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10/14/2004 2:05:59 PM
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shelmack
Posts 66
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HI
I sell at craft markets all the time and I have learned a few things. If you price higher you can always come down, then they think they are getting a bargain. If a person really wants what you have to sell they will pay what you want for it. If you feel good about your prices people will never question them. Never apoligize for how much it costs. They are paying for hand knitting and very good quality fiber, if they want arcylic they can go to Walmart. People equate high price for quality. Never sell your items based on the price you pay for your yarn. Base it on the suggested retail price. Elann always posts the suggested retail price. They don`t need to know you got a deal. Thats my 2 cents worth.
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10/14/2004 3:47:36 PM
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Guest
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Thanks everyone - I guess I`ll sell my the stuff I`ve been bringing at the prices I have been and then raise the prices on the "new" items.
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10/14/2004 4:04:24 PM
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Libby
Posts 7209
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you guys give me inspiration. I have been thinking of selling my stuff for a while now and my sister even suggested it but always felt stupid about the idea of selling my stuff. I think that I will seriously consider it from now on.
Thanks for the inspiration!
Libby
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10/14/2004 7:45:19 PM
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bets
Posts 18976
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Hi!
Oh, I think contributing to the Nepalese women`s cause should cost a bit more than 30.00 and I am CHEAP. (But if you tell the story, and doesn`t that yarn HAVE a story, that should add to the allure.) Your knitting staff knits exclusively for you. I don`t think your poncho price is unreasonable-we`ve all seen kits (apparently) sell for more than 100.00, so what`s the problem? Please take a photo of it before it goes to its new owner tho!
Bets
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