LumberJocks

Please help with MSRP $$ estimate for a Benefit Auction

  • Advertise with us

« back to Sweating for Bucks Through Woodworking forum

Forum topic by Eddie posted 02-16-2014 09:07 PM 812 views 0 times favorited 5 replies Add to Favorites Watch
View Eddie's profile

Eddie

212 posts in 1413 days


02-16-2014 09:07 PM

Hi guys,

I was asked to contribute a few pieces to a benefit auction to help raise money for a family adopting two siblings in Haiti.

I have nearly finished the pieces and they mentioned they would like an MSRP or fair market price to list with the description as a bidding guideline.
I am terrible about pricing things and usually just do commissions for friends and family.

Please help.

I need individual prices for these:

15.5”x 12”x 1.25” Long grain cutting board using beautiful Birdseye Maple and Jatoba.

Wine Bottle balancers – (1) Jatoba w/ pine accent (2) Purple Heart w/ Maple accents

What would you guys consider a reasonable price to list?




5 replies so far

View Betsy's profile

Betsy

3338 posts in 3358 days


#1 posted 02-16-2014 09:18 PM

Eddie – first thanks for being willing to contribute such nice pieces for a charitable cause. As far as a MSRP, take your msterial costs and times that by 3. That’s what I do when asked for a starting point. Some will argue that you should start with what you would sell it for at a show, however since it’s a charity I don’t think show prices are a good guage. I have had numerous things in auctions and have never had a piece sell for less than twice the show price. A lower starting point in a bidding event gets people excited about a great product and before you know it there is s bidding war going on and the chairty ends up doing quite well. If you start too high you’ll have less people eho think they have a shot at getting something so nice.

Just my thoughts but I’m sure some will disagree and have other advice.

Goid luck.

-- "Our past judges our present." JFK - 1962; American Heritage Magazine

View BentheViking's profile

BentheViking

1763 posts in 2026 days


#2 posted 02-17-2014 03:46 AM

$1 Bob

lol.

I think $30 range for the stabilizers and $50-$75 for the cutting board, but i could be way off base with this

-- It's made of wood. Real sturdy.--Chubbs Peterson

View rustfever's profile

rustfever

716 posts in 2772 days


#3 posted 02-17-2014 04:30 AM

I recently donated very similar cutting boards to a benefit auction. The Birdseye Maple cutting boards I valued at $79 and $129. Both sold for more than my value

-- Rustfever, Central California

View bigblockyeti's profile

bigblockyeti

3668 posts in 1183 days


#4 posted 02-17-2014 04:57 AM

I would say $25 – $30 for the balancers and $85 – $100 for the cutting board.

View Eddie's profile

Eddie

212 posts in 1413 days


#5 posted 02-17-2014 05:32 AM

Betsy- thank you for the kind words

Thank you all so much for your help and input.
After debating for a while I ended up saying $65 for the cutting board and $25 for the balancers. And when I sent them the info, he laughed and said for items so nice he would be adjusting them up in price.

I guess he is listing the board a $125 and balancers and $40
He has done a couple auctions and had similar items in them, so I am trusting his opinion.

I only see the flaws in my work anyway, makes it hard to price it.

Thank you all once again for your help.
It was a huge encouragement to know that the items I made were worth more in all your eyes than I ever really thought!

Have your say...

You must be signed in to reply.

DISCLAIMER: Any posts on LJ are posted by individuals acting in their own right and do not necessarily reflect the views of LJ. LJ will not be held liable for the actions of any user.

Latest Projects | Latest Blog Entries | Latest Forum Topics

HomeRefurbers.com