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Topic: First order = I need help pricing, pleeeeease?  (Read 1123 times)
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Indiana
« on: August 22, 2010 11:11:37 PM »

OK, So I just got my first order via word of mouth and I will be making a doll much like these two below. It is my own pattern and design and I am hoping to sell finished product dolls on etsy in the near future. But for now, I really need to price this doll I am currently working on. What would you guys pay for a doll like this with custom options such as hair colour, glasses, dress fabric and shoes?

Please try to see past the horrible quality of the photo's. My camera has seen better days however I realise that I need great photo's for etsy so it's something I will have to remedy.

I am thinking of pricing these at around AUD$30 (approx USD$26) each. Do you think this is a fair price? Would you pay more/less?

Any comments or criticism is welcome. Thanks for taking the time to help me out with this! Smiley

Happy Crafting.  Grin






« Last Edit: August 23, 2010 01:21:10 AM by Indiana - Reason: photo needed fixing » THIS ROCKS   Logged

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nfirehazzard
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« Reply #1 on: August 23, 2010 08:33:15 AM »

That's actually the price I was thinking. Its very moderate when you consider that other places where you can get a personalized doll start @ $50. These are super cute! *Good luck*
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Indiana
« Reply #2 on: August 24, 2010 06:18:19 PM »

Thanks for your help nfirehazzard . That's what I thought too. I don't want to price myself too high and I think it's good to be competitive plus with the low prices of mass produced toys, I need to be able to compete there too. Thanks again! Smiley
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CraftyChef
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« Reply #3 on: August 25, 2010 03:50:58 AM »

I would be depressed shipping them out the door for a mere $26. Custom hair and etc.? YIPERS. $50 is more like what it's worth. You can't compete with mass-produced toys, no matter what. Let's say a retailer comes along and wants to sell them. Now you'll be making $13 - 18 per doll because you've priced them so low. You could never live with that while they're still handmade. I personally would gladly pay $50-75 for a cute doll like that with custom hair and dress to please my little Precioussss (who isn't so little anymore!).
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MTLwordsmith
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« Reply #4 on: August 26, 2010 07:00:44 PM »

How long did it take you to make the doll? What were the cost of materials? What is your time worth?

When I price a piece of jewelry I make These are the things I consider.

Here's an example

Say I'm selling a pair of earrings. The materials cost me $2.50 and it took me 1/2 hour to make them. Because I really love making jewelry and I do it while listening to music or watching a movie, and I have a day job to live off of, I decide to pay myself $6.00 /hour for making them.

So $2.50 + $3.00 = $5.50 for my expenses. I'd toss on a percentage for profit say %50 (because it's a low-ticket item) for another $2.75.

So I would charge at least $8.25 for the earrings.

Basically, the equation I find the best is Materials + Time + Profit = Retail Price.

I know this isn't a very technical formula, but I hope it helps! Good luck to you!

Meg
(And your dolls are just adorable!!)
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Indiana
« Reply #5 on: August 28, 2010 09:03:30 AM »

Thanks guys, that's certainly given me something to think about. I really appreciate your opinions and advice as I am so new to all this. I've never ever sold anything I've made before and normally I give things away as gifts so this will be a huuuge learning curve for me. Thanks again, it's truly appreciated.

Smiley
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Happy Crafting! Smiley
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