Things to Consider When Pricing: Response to Anonymous

Hello there,

Something that would be good for the blog is advice on pricing as SO many newbies ask about it in the forums so guidelines would be good.


thanks

Anonymous


Dear Anonymous,
Price can be a touchy subject, but it is nonetheless an important one. I’ll only go into this topic briefly, as there are many guides available online for specific pricing questions. While there are  a lot of aspects of pricing (cost of materials, cost of labor, etc), I feel that market research tends to be one of the most important. In this case, market research involves looking at items similar to yours and noting their general price. What does your item usually sell for? Once you have a good idea, you can take into account the amount of time it took to make the item, the skill it took, and the cost of materials.

If you’re planning to charge more for your items, make sure you say why in the description. Was this item made with special material? Will it last longer? How long did it take to make it? Is it of higher quality? Remember, you can also show the buyer how the item is worth the extra cost with pictures. If you’re listing an expensive item, be sure use a lot of your pictures to show off your piece!

Lastly, remember that pricing an item too low can turn a buyer away the same as pricing an item too high.

Hope that helps! Drop me a line if you have additional questions!

Sara
Sell Handmade Crafts Online