A question about pricing

[Gary Koval]

Hi everyone,
I have a question about what members would charge for these signs. Being from an area of the country that is more depressed than others economy wise, I just wanted your opinions. Both signs are approx 11.5" square Corian or similar plastic material. Both took about 1hr. to carve, and both took about an 1.5- 2 hrs. to paint with water based hobby paints. They are coated with a clear in/outdoor spray lacquer. A key hole slot is carved in the back to be used for display.
Keeping the state of the economy out of the equation, what would you charge individually for these signs?
Thanks,
Gary

[lawrence]

First off, they are beautiful

Secondly, as for pricing- I think that your time, material, and carving calls for $100ish but the actual market for something like that around here would likely be more in the $40-$50 range. A lot also depends on what market you are selling in.

I know my answer seems low- this seems to happen quite a bit with hand-painted detailed signs... my hourly wage goes waay down on those as well and I'm sure will continue to do so until I get faster (which I will do with practice)

Lawrence

[TerryT]

Beautiful work Gary.

[Ton80]

Nice work. You're pretty fast painter if you were able to get that detail in 2 hours

I don't know what the corian cost but decide what you want to make per hour and add the cost of your material to it for something like this and see what happens. If you sell your work online you can reach areas that might allow you to charge a little more.

I think Lawrence's price of around $100 is what something like that is worth given the investment you've made to develop your skills. Whether others that would buy it agree is another question.


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[badbert]

Give 'em a deal! That's what I always say. Tell them you usually sell them for $100 but right now they are on sale for $60 or 2 for $100! That usually gets them to make you an offer, split the difference and count your money! By the way... Beautiful work!

[Smoken D]

What I have learned, mostly area where I live, the rule is, "Wal-Mart customer, Wal-Mart price". And many of those cannot spend what money they have on what we produce. Then when on the Plaza (ritzy place in Kansas City) The sky and beyond is the limit

Oh yea, really a beautiful job!!

[Gary Koval]

Thanks for the responses guys. I just want to know what you would charge if you were selling them. I know a lot of variables play into it, lets just price the corian at say $7.00, $5.00 worth of paint, and $1.50 worth of spray lacquer. so say $13.50 in material. Less taxes, shipping, what would you charge for the piece itself?

[jaustin]

$13.50x3=$40.50+$10(per carve hr)=$50.50 round to $50

[dehrlich]

Well in MHO I think in the $60-75 range would be fair, perhaps a little more. I have stopped doing stuff for cheap and I'm still almost too busy. Here are a couple of examples:


This sign is 12x15 on maple. I charged $80 for it.


This one is on Cherry, 8x10. I charge $60 for them and sell 2-3 a week. Have gotten good enough I can paint one of these in an hour or less.

My strategy is put a price on something that you think you want. If they don't sell start dropping it a little at a time until they start to sell, then you know where the price should be. But I would rather not get a sale then sell something so low I'm not making much money. Customers have to consider the years of time it has taken to aquire the skill you have, all the money invested in tools and so on. You can mention that they will not get a custom item like this anywhere else, painted the colors they want with thier name. If you want custom, you have to pay for it. A body shop will not paint flames on your car for cheap will they? Just my $0.015.

[lynnfrwd]

Totally agree! Don't undersell yourself. You can always go down. It's much harder to go up.