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Topic: Question I know has been asked a billion times - Pricing on Etsy  (Read 1621 times)
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Mienna
« on: May 29, 2007 10:44:02 AM »

Ok, I've just started listing on Etsy (within the last few weeks) and I'm having a really hard time pricing my items. I know some people say charge $10 an hour for your time + materials, and others say materials x 3. But I don't want to rip anyone off, I'm not going to lie I bargain hunt for material I use. Including fabric, yarn, etc. If I see a sell at ac moore for cotton fabric, and I plan on making some hand towels, I'm all over it like stink on poo. So, what's fair? How do y'all judge how much to charge? Any have a tried and true method of figuring out what to charge?

Thanks Smiley
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« Reply #1 on: May 29, 2007 03:46:02 PM »

Pricing is really hard. I used to think that the cheaper the price, that more people would buy it and you'd get a better turn out. I found out that you'd be getting ripped off and some would be turned off by it. I just think of a reasonable price taking into consideration time, effort, and materials.
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« Reply #2 on: May 30, 2007 07:03:15 AM »

If you're looking for one singular way to price that is above and beyond all others, I'm sorry but you're unlikely to find it.  Pricing methods vary.  Price in a way that you're comfortable with.

http://www.craftster.org/forum/index.php?topic=143666.msg1441637#msg1441637
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Mienna
« Reply #3 on: May 30, 2007 07:06:06 AM »

Thanks for the link, I looked at that. Smiley
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« Reply #4 on: August 06, 2007 02:49:45 PM »

I'm Just starting my etsy shop as well, and what i've done is searched simular items that are being sold. Take for example bottlecap pedants. Some are sold from $7 to $25 dollars depending on the embellishments.

So with that example I would say
1. The price range found on etsy (low-highest)
2. The material cost (the price for resin, embellishment/charms, bottlecap, chain, and jump rings. since they're bought in bulk I would said by giving it to someone i'm only out maybe x dollars)
3. The amount you would reasonably pay. If something is 25 bucks your more likely to think about that purchase. If something is 4 or 5 dollars you are more likely to do an impulse buy or add it to your order.
4. Shipping Cost. (high shipping cost outweigh low prices sometimes.)

There for starting out I would be able to confortably be able to sell the bottlecap necklaces at 8.50 + shipping.

Now over time after you get comfortable with etsy, you have a larger base of sales,  and you perfect your items I would say I would feel comfortable to adjust the prices.

Main rule of thumb as much as we would like to sell a pillowcase with a couple lines on it and call it modern art for $250. The likelyhood of the purchase is very high. Just think about what you would honestly pay. The lower prices will pay off once you get a lot of people
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« Reply #5 on: August 06, 2007 02:51:19 PM »

I took a look at your shop and think it's perfect. I would feel comfortable buying your items!  Grin
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I make fun plastic jewelry check it out!
www.poisonousporkipine.etsy.com
Love personal swaps!
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Mienna
« Reply #6 on: August 06, 2007 09:42:25 PM »

Thanks! Cheesy

And I agree about what you've said. I'm still trying to iron out some flaws, I think. Mostly I want better photography for myself, but it's not a skill I was born with unfortunately. :p

Also, my thoughts on shipping, it will totally turn me off a site if the shipping is obscenely  high, but it feels like they're trying to rip me off from the get-go.
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pawsntails
« Reply #7 on: August 16, 2007 09:42:29 PM »

I tried to find similar items and come out somewhere in the middle.  I started with my prices too low and I could tell right away that I wouldn't be happy with continuing on like that.  I think you will get a good sense once you're selling.  I did the hourly plus materials format when pricing.  But then there's the buying your materials time, posting items etc...it's endless!
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Mienna
« Reply #8 on: August 16, 2007 09:46:19 PM »

Yeah, every few days I swear I open it up and debate the prices, I probably spend more time doing that then anything else. I don't want to under charge, but I don't want to rip anyone off either. Constant... Struggle... AHHH!!!
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pawsntails
« Reply #9 on: August 17, 2007 10:38:20 AM »

Yeah, every few days I swear I open it up and debate the prices, I probably spend more time doing that then anything else. I don't want to under charge, but I don't want to rip anyone off either. Constant... Struggle... AHHH!!!

I hear ya - I have agonized and agonized over pricing for the exact same reasons!  Also about shipping - I want to cover my costs, have a teeny buffer but not charge too much.  I have spent much time tweaking my shipping costs too.  (I'm in Canada so costs are higher for me)
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