# Please help with MSRP $$ estimate for a Benefit Auction



## phillsam (Jan 21, 2013)

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?


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## Betsy (Sep 25, 2007)

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.


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## BentheViking (May 19, 2011)

$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


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## rustfever (May 3, 2009)

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


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## bigblockyeti (Sep 9, 2013)

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


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## phillsam (Jan 21, 2013)

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!


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