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14-03-2013 #1
Pricing is a very subjective thing.
I know the bits I sell, my effective hourly rate works out a bit low, but that's due to machinery limitations. It's still high enough to make it worthwhile, but the main thing is it's letting me work towards better machines, which will ultimately lead to a higher effective hourly rate.
You've got to figure do you want to sell more at a lower price, or less at a higher price?
And how much do they really cost you to machine?
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15-03-2013 #2
Fivetide,
I have sent a PM with my cell number, give me a call and will chat as we have and are going through the same issue and I will gladly let you know what we put in our formula to figure pricing and you might have some ideas that help us as well. It is difficult to figure the price as there is a lot that goes into it.
Michael
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15-03-2013 #3
Soooo after a lengthy and very informative conversation with Mike I have decided to sell the artwork at £250 each. My rational has changed after speaking with Mike, there is a lot of things I didn’t factor in. Anyway they are a one off piece you could never replicate any of them as you would never find the wood to do it, because quite frankly it’s gone, the artwork itself is totally original I handcrafted it using software. that might sound a bit strange that I use software to create art but the vast majority of art these days especially in digital media is created using software. It helps people like me who are not gifted artists to be all to realise and create something easily or should I say easier.The actual sculpting of course could be replicated precisely but like I said these are completely one-off pieces albeit in different woods. The problem is that any less than that would make them uncollectible based on the fact that I undersold them. And as I discussed with other people that make bespoke items no one would take you seriously, thinking you basically have someone in China making them for you and you're just a retailer. And quite frankly it wouldn't be worth my time to reproduce or sit down and do the creative side. So that is my rationale and I'm sticking with it, maybe I won't sell any and have to give them away to family and friends but hey that's life. I do know that some of my friends and a few of my family will be quite happy to have them as gifts.
Last edited by Fivetide; 15-03-2013 at 06:44 PM.
Fiction is far more plausible when wrapped around a thread of truth
Nothing great was ever achieved without enthusiasm.
Ralph Waldo Emerson
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15-03-2013 #4
knew you would get there in the end
Last edited by Swarfing; 15-03-2013 at 07:15 PM.
If the nagging gets really bad......Get a bigger shed:naughty:
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15-03-2013 #5
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16-03-2013 #6
Fiction is far more plausible when wrapped around a thread of truth
Nothing great was ever achieved without enthusiasm.
Ralph Waldo Emerson
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16-03-2013 #7
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16-03-2013 #8
May be Lee could have a sticky called pricing considerations.,? Only after talking to Mike who obviously is heavily into the pricing because it's his full-time occupation I found things that I hadn't even considered. For instance I went down to the Wood yard to pick out some materials by the time I had finished it works three hours including the drive time. Then there were the prototype's that didn't quite work, and also some of the attempted finished work where the wood had hidden problems, and had to be discarded halfway through. Then the time creating the website to advertise the stuff the list goes on and on. And also at some point like Mike said it goes from a hobby or part-time job to where the taxman becomes interested in what you are selling. Anyway there was just a thought.
Fiction is far more plausible when wrapped around a thread of truth
Nothing great was ever achieved without enthusiasm.
Ralph Waldo Emerson
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16-03-2013 #9
The Taxman - Try to look on that as a positive, whilst tax returns are a PITA, you only pay tax if you have made a profit, something that you are obviously hoping to do. G.
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