Pricing Your Homemade Gifts...Any Suggestions?

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Registered: 12-31-1969
Pricing Your Homemade Gifts...Any Suggestions?
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Tue, 08-14-2012 - 9:30pm

Hi All,

 

First time posting on here but I figured if I've got a question about homemade gifts, I should ask people who are crafty. I've recently started to dive into the world of selling my crafts but now I'm lost at the pricing part of it.

Right now I am working on making coasters in the college and NFL team themes since football season is starting back up. I'm looking to start making theme related coasters out of the bathroom tiles and scrapbook paper  but haven't been able to start that up yet. For now I am using plastic canvas and yarn to create a set of 4 coasters. If I work hard, I can usually get two sets of 4 done in one day while working on other household chores.

My question is how much should I charge for a set of 4 coasters? I've had some people tell me 7 or 8 dollars and then others say one dollar (which I would never charge for how much work I put into these!). But part of me feels bad for charging 8 dollars, but at the same time I think it may be a fair price for something homemade.

 

I am open for any comments or pricing suggestions because I am honestly lost.

 

Thanks in advance to anyone who replies!

Chelsea

iVillage Member
Registered: 01-03-2001
Wed, 08-15-2012 - 8:40am

I have been struggling with the same issue when a friend asked to buy two of my county fair entries. I gave her a price based on cost of materials and framing plus $1/hour for my stitching time, thinking it would scare her off and she paid it! LOL And I think I may have under-priced them (she told me so - her exact words are $1/hr is slave labor wages! LOL She's right, but NO-one would pay minimum wage, KWIM?).

Anyway, at quilt guild the other night, a similar question was asked and the answer, at least for quilts, was 3 times the materials invested: cost of fabrics, threads, etc. times three. That way you don't have to account for the time spent. Winning prizes up the value a bit so if you entered your pieces in a show and won something, you could raise the price there...

Hope that helps.

P.S. Be careful --- do you have permission to use copyrighted logos? Both the NFL and colleges have been known to go after people using their logos, even if they are using papers or fabrics which were sold using them... as those papers and fabrics often come with a "personal use only" restriction. Now if you used a football and team colors, that should be OK --- but the logos are an issue.



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Avatar for akamarti
iVillage Member
Registered: 02-14-2000
Wed, 08-15-2012 - 10:26am

One thing to consider is where you are selling. If it's a fair or bazaar, check out the other prices on items for sale. Some fairs are really low priced and a decent price would scare away buyers. You'd want to be in the same range as similar items. On line, it's the same thing......look for similar things and price your items in that same range.

Your labor counts! It may be fun to make your products, or relaxing but you really need to get something out of it for your time. thatyank is right about 3 times the cost of materials, although in some venues you will only be able to do 2 times and in the really fancy sales you can get four, sometimes.

Sometimes raffling off one item or set can get sales going, too. Note, also that if the item is going on sale for a charity, you can be far more aggressive in promoting it. Even if a portion of the sale goes to charity (and if you say it is, DO IT!) you can always push that aspect more than you would push the product ordinarily.

Try to have more than one item for sale, if you can......then price accordingly. The easier to make things can be less, the elaborate things more and the in-between items won't look as expensive sandwiched in other prices.

I believe that good work deserves more than pay for the materials. DO pay yourself!

Welcome to the board!

Marti

Avatar for akamarti
iVillage Member
Registered: 02-14-2000
Fri, 08-17-2012 - 12:13pm

Thanks for adding that on. NOT long-winded, but complete and full of good information! Glad you posted!!!

Marti

Avatar for akamarti
iVillage Member
Registered: 02-14-2000
Sun, 08-26-2012 - 8:08am

Now, you be sure to come back and tell us what worked for you!  Or, better yet, stick around and join everyone else in answering questions and suggesting crafts and sharing experiences! You'd be MOST welcome!

Marti