Your project is worth more than that!

Oh yeeee. I had even worse comment, when i priced my walnut rocking chair ( http://lumberjocks.com/projects/53551) for 1500 $

-- Maraziukas, Lithuania, http://www.facebook.com/MMwoodwoking

I am having more of a problem setting pricing this year than last. If I set a realistic price, based on the price of the wood and the amount of time, it will not sell. If I set a price at which it will sell I am giving it away. I really have no idea what to do.

-- Just learning the craft my Lord and Savior Jesus Christ practiced.

I have seen both sides of this coin. See my answer here… http://lumberjocks.com/projects/75704

-- Perform A Random Act Of Kindness Today ... Pay It Forward

Usually it’s the case of ‘your price is too high’ but in this case, the client actually told me that my price was too low.

-- -- Don in Ottawa, http://www.donebydon.ca

Wow … I wish I have even one such client in my life

-- Maraziukas, Lithuania, http://www.facebook.com/MMwoodwoking

I have people in my craft group ask if I am charging enough for some of my items. I know sometimes I am a little low but I don’t want to take home everything that I took to the show. I sometimes raise my prices for the next show if items seem to sell quickly but I always price them at a price that I can live with.

-- Paul, North Dakota, USAF Ret.

You know what’s really infuriating? I often get people tell me that… and then never buy anything. I did a craft fair a few weeks ago, and I made a bunch of stuff that I could sell, reasonably, at $20. Enough people bought them, but at least twice as many looked at the stuff, picked it up, examined it, complimented it, and then told me I was charging “way too little” and then …. walked away. -shakes head-

-- Lis - Michigan - http://www.missmooseart.com - https://www.etsy.com/people/lisbokt

When someone tells me my prices are high I ask them what they think my time is worth. I let them know that I put a lot of hours into each and every box I create and I value my time and skills. My prices are not for everyone…but there are alot of people out there with plenty disposable income..
Like everyone else in the world, there are many things in life I really like alot but can not afford. Any person or business in existence makes things for a certain niche’ market.

I always seem to somehow find customers that can afford to spend money for what they like and want. I have never made inexpensive items for a show …however… I always seem to make sales and get commissions afterwards…enough to keep me busy.

-- Every step of any project should be considered your masterpiece if you want the finished product to reflect the quality of your work. http://www.FineArtBoxes.com

When they tell me that my work is worth more than what I’m selling it for, I offer to sell it to them at a higher price. Haven’t had any takers yet. When I lived in Maine, it was nice to have the Stickley store 35 miles away, in Portland. Most folks looking for A&C furniture had already been in there before they talked to me, so they knew I was giving them a nice deal. Some ordered furniture from me, some had regret because they had already bought something from Stickley, but nobody ever paid me more than I was asking.

-- Tim-- http://www.tmuli.com

Some people these days are willing to say anything just to try and get a rise out of you. Don’t take the bait. When they say it should cost more, ask them at what price would they buy it and then push hard for the sale at that price.

I love telling this story – my wife owned an art gallery, a painting hung on the wall at $125 for a year, we raised the price to $250 and sold it the next week. Pricing has no reality. Don’t get caught up in what inexperienced people say.

-- Sam Hamory - The project is never finished until its "finished"!

Price your work at what you need to get to make
the business of making things worthwhile. You can
get paid what a plumber gets to do woodworking,
but you have to be a good marketer to get that
and you have to know what you can and can’t
make money at. Original designs consume a lot of
time to protoype, but if they become salable portfolio
items and you have the jigs and templates they
can be assets.

Only the affluent are accustomed to paying for
real craftsmanship. Some non-affluent people know
what such things should cost because they have
skills or know somebody well in the trade.

It’s going to be hard to justify one-off custom furniture prices when people are used to paying mass-produced prices. That’s the way it is. People can get some crappy table at Morris Home Furnishings with marquetry that looks like it’s silk screened on for $400, but for you to do something like that out of your garage with good hardwoods and quality craftsmanship would have to be priced double that to make it worth it at all.

Ah yes… the artist’s dilemma.

I hear that more often than not. And I’m perfectly fine with it. I take it as a compliment. I’m a pure hobbyist and am not in it for the profit. So long as my project sale covers my materials cost, it’s just a great excuse to do what makes me happy.

Full disclosure, I make (on average) $1.50 – $2 per hour of time spent on my projects. Not drying time, but actual moving, cutting, sanding, finishing, etc.

There is a hazy ceiling at which you will price projects just beyond a comfort zone and you will notice less sales because of it. I price my projects where I know they will sell and sell fast. Could I have made 10%, 20%, 30% more… maybe. But I’m happier to see my projects get gobbled up quicker than I can make them.

You should be proud of your work if someone is willing to pay more.

-- Measure, cut, curse, repeat.

I am with Liz on this one. They say your price is too low and don’t buy anything.

-- Mother Nature created it, I just assemble it. - It's not ability that we often lack, but the patience to use our ability

I’ve had this said to me so many times it’s gotten old. But the minute I put a guitar out there at a couple hundred higher, with added goodies to boot, it almost always rots. Last one I donated to my church for a Christmas giveaway. My 50th, I put everything into it I could, and I still own it…

I’ve come to the conclusion that people who say these things, either don’t really get what the market will bear, look at too may “Buy it now” numbers on eBay, or are just being nice.

As far as getting more for your work, if my name was one of the famous guitar builders, I could charge three times as much for the exact same product. There is definitely something to be said for a nameplate.

And I find that most people with a lot of disposable income these days are hanging onto that disposable income, what with the insecurity of the economy at this point.

Overall, right now I’ll show a loss, definitely, this year, like last year. Don’t really care, I’ve built some nice guitars and maybe someday someone will come knocking on my door. But I’m not betting on it, and my living is in NO way associated with profits from my guitars, cause there ain’t any!

-- Paul, Tennessee, http://www.tsunamiguitars.com