How do you price your craft items to sell?

Australia
August 29, 2009 5:52am CST
I am really curious to find out how others price their craft items to sell & make a bit of pocket money. I was taught to calculate how much it cost to make the item & then double it & that's how much you charge for your item as you can't put time into the price. This is how I price the items I put up for sale. How about you?
1 person likes this
7 responses
@carolbee (16233)
• United States
31 Aug 09
I am having the same problem. Reading your responses helped give me a better idea of what I need to do. I love making projects with plastic canvas. Did several craft fairs a couple of years ago and did well. That ended when the property was sold and the new owner wouldn't let crafters sell any longer. Want to eventually sell online but am more confused about the shipping and size of boxes to buy than the actual cost of making the craft. Can't sell my Sesame Street projects online which is ok because they sell through friends, etc. Much success to you and hope you do well, carolbee
2 people like this
• Australia
31 Aug 09
I know exaclty what you mean, it takes so long to knit some items but the price you'd like to have on the items, people just won't pay so we can only profit on the materials used which, in a way cn be ripping us off because of time spent making it.
1 person likes this
• Australia
31 Aug 09
Sorry, that first response was meant for the person who answered below you...I'm glad this discussion can help other people & not just me....I hope you do well selling your projects :)
1 person likes this
@carolbee (16233)
• United States
31 Aug 09
I also knit but haven't sold any afghans. Made them for our kids and then our grandkids. One afghan took me 10 yrs. to knit but I got it done. It was huge. I made items with plastic canvas and some of them are so cute.
1 person likes this
• United States
30 Aug 09
Pricing is one of the tricky aspects of selling handmade items. You walk a fine line of charging what the consumers are willing to pay for what is usually one-of-a-kind items, having to compete with companies that produce thousands and thousands of the same generic items and yet, have to charge enough to pay for your supplies, your overhead and most importantly, your time. I basically have set prices for my components. Because prices on sterling silver (as the price of silver goes up & down each day) are not always set in stone, my prices on specific items also vary. Pricing sea glass is trickier. Rare colors, well-weathered pieces, flawless pieces command more money than the more common pieces. I basically have a set price range for certain pieces/colors and if I have to buy sea glass from one of my collector friends, it needs to fit into my price range. I basically know how much time each piece takes to create, so time spent is factored in. Pricing at what the market will bear is hard to do...you have to get paid for your work. After all, you are not turning out the same generic "stuff" that big companies churn out by the millions, but at the same time, it does not do you any good to sit on items because you've priced yourself out of what the market will pay. Pricing is a fine line...and if I find I've priced items too high, I can always have a sale !! Best of luck with your sales!
• Australia
30 Aug 09
This is so true...I have found that sometimes I have under charged - like when I was selling my stuff on ebay...thanks for the luck with my sales - I wish you all the best too.
1 person likes this
• United States
29 Aug 09
I do not really remember my original logic, but I know that I charge $1 per ounce of soap for my soaps plus $0.25 to help cover the taxes if I sell in person or Paypal fees for online orders. I think the logic did come out of cost of supplies doubled and kind of rounded up to be an even $1 per ounce.
2 people like this
• Australia
30 Aug 09
That's fair, we all have to make a little bit of a prifit from selling what we've made...I've been looking for soap recipes too - could you please point me in the right direction?
1 person likes this
@caver1 (1765)
• United States
31 Aug 09
I have heard of this method for pricing crafts and other hand made items. But when I've thought of trying to sell my baby blankets that I knit it just doesn't make economical sense. I may spend $15 on yarn, but spend 35 to 40 hours knitting. The blanket is worth far more than $30 and when you think the profit for me would only be $15, it is just not worth the effort. Now if someone would pay $200, that would be worth it, but would they? So far I haven't tried to sell anything. I had made a blanket for that purpose only to have a need for it myself, (as a present). I've thought of doing some knit caps and scarves, just haven't gotten to it.
1 person likes this
• Australia
31 Aug 09
I know exaclty what you mean, it takes so long to knit some items but the price you'd like to have on the items, people just won't pay so we can only profit on the materials used which, in a way cn be ripping us off because of time spent making it.
1 person likes this
@caver1 (1765)
• United States
2 Sep 09
If I can do smaller items that don't take as long I might make a bit of a profit. I work for an alterations shop and a few people sell things on consignment there. I suppose I could try selling there.
1 person likes this
• Australia
7 Sep 09
Why not, you've got nothing to lose :)
1 person likes this
@iskayz (5422)
• Philippines
29 Aug 09
Hmm... let's see.. My selling price is derived from the cost of the materials times two which equals to the cost of labor plus the cost of materials. Sometimes when the piece is made to order I make it times three. That's how I put price tags on my craft projects. Are you selling items online or just at home? What kind of crafts do you sell?
• Australia
30 Aug 09
craft - These are s pair of slipper socks I knitted
At least I know I'm on the right track with pricing my items:) I do knitting & crocheting...I also do beading but haven't touched a bead since my daughter was born in 2007. I sell my craft online through an Aussie site called madeit
1 person likes this
@iskayz (5422)
• Philippines
30 Aug 09
Oh you crochet and knitting? I love to learn those two but I always fail in doing them. Maybe I need a little more patient in trying to learn and read instructions. I haven't sold my items online but I plan to open an online store soon. And Madeit? Hmm.. I'll try visit the site!
1 person likes this
@Loverbear (4928)
• United States
7 Sep 09
I figure the cost of materials and double the amount. Then I double it again for my time. I don't figure a cost per hour working on the item because the time is something that I have because I don't work at a regular job. I also check online and the magazines pertaining to what I make to see what people are charging for their articles. I make teddy bears and I try to keep costs down so that they are affordable for everyone. I hope this helps you out some. What do you make?
1 person likes this
• Australia
7 Sep 09
I never thought of doubling the price again for my time...I may have to consider that. I knot & crochet anything that I feel like making that I have a pattern for. I have also must gotten myself a sewing machine so will be putting that to use once I get used to sewing again.
1 person likes this
• United States
12 Nov 09
Most of my crafts are one of a kind so I can put almost any price on them that i want because I try to figure in the uniqueness of the item plus how much work went into getting the material and the labor required (I have had to buy some specialized tools for my crafts). I also have to figure in the cost of the event (I sell at pow wows and not at crafts fairs and flea markets.
• Australia
12 Nov 09
I never thought of that...I don't sell at markets either - I sell online & whenever I have a garage sale, I put out my craft as well
1 person likes this
• United States
12 Nov 09
That should read and at craft fairs and flea markets, I am just starting to sell at crafts shows and flea markets since the pow wow trail is down for the winter except for a few indoor ones.