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Topic: Are people pricing right on Etsy?  (Read 12106 times)
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« Reply #40 on: November 24, 2006 04:45:01 AM »

I have discovered that people in general (at least in my neck of the woods) don't appreciate or understand the time and work that goes into handmade. I was discussing a recent holiday fair with a co-worker and she remarked on some handcrafted purses made from cowboy boots. She said after noting the price on the small  bag to be $25, she was afraid to look at the larger bags. I thought "$25 is not enough!" I am in West Texas so I wonder if it's any different in the "big cities"?  It is discouraging to me when I cannot even get a return on my materials and time involved in a product. Sometimes I wonder why I even keep doing this but I guess it's love..... Cheesy
I am in the process of re-thinking and re-vamping my etsy site and hopefully I'll make some sales some day. I hope I don't sound like I'm crying the blues because I'm not, just expressing an opinion.

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« Reply #41 on: November 25, 2006 06:40:28 AM »

I've noticed things being priced lower on Etsy, and I can't do it. For me, selling my wares on Etsy *is* my only source of income right now.  My big problem comes in with the Etsy plus paypal fees...I feel like I have to mark up my items accordingly to cover the listing fees!  The first (and only) item I sold on Etsy I went backwards and deducted all the fees, etc, and I wound up losing $0.95 on it.  I know that's not a lot, but if I sell 100 items and constantly lose $1...that's $100 that I totally could use. 

I'm trying to get my site up and running independant of Etsy so I don't have to worry about their 3.5% + .10.  I'll still have the paypal fee to deal with, but if I add $1 onto most items, that covers the paypal fee.  it's harder to add 3.5% onto the cost of something, when you also have to do it exponentially because if you add 3.5% onto the cost of your item to cover Etsy, Etsy takes 3.5% off THAT cost, and you sometimes wind up losing out on money or wind up making "extra" money (not nesc. a bad thing) on items because you keep adding the 3.5 on until things even out. (at least, that's what I did. somewher I have a LJ post where I go on about trying to cover paypal's 2.9%. 

But when nearly 7% of your total net (cost of item plus shipping) gets eaten by fees....THAT starts to hurt a bit. 

I have  a few items I haven't listed yet that I made over Thanksgiving. The necklace supplies cost $22, and when I add on my labor fees it will be at least a $50 necklace. I think it's worth that, and pretty, but will other people?  That's the worst part, I agree, with Etsy.  Someone seeing this necklace in a shop probably wouldn't bat an eye about paying close to $100 for it, but because we're dealing with a) crafters themselves purchasing your stuff and b) the non-crafter misconception that handmaking an item is way cheaper than buying a machine-made item, it's hard to even be able to get that $50. 

shipping also is a pain for me. I ship things with Delivery Confirmation AND Insurance, just to cover my butt. I tend to over-insure as well - a $30 item gets $60 of insurance, that way neither party is out the money if the item gets lost/destroyed.  Insurance tends to run between $2-4 for me, and Delivery Confirmation is .25.  If i charge someone $10 on shipping a $25 scarf, it's because of adding on insurance and delivery confirmation, and the most extra I might make is $1. 

I hate pricing stuff. I wish it was more profitable to get booths at craft fairs, but anty of the fairs i've done haven't been entirely worth it between cost of the table, and getting me there.

(formerly AnnaOnTheMoon)

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« Reply #42 on: July 08, 2009 11:05:57 PM »

Other people have mentioned this, buy my pricing goes as follows:
cost of supplies
cost of etsy/paypal fees

That way I make a nice little profit, mind you this is also what I use for outside business.  Its a fair price, not underpriced not overpriced.

Speaking of DIY and overpriced items, a cousin of mine is partnered with another woman in Chicago - I won't mention the business name, but lets just say they sell jewelry that consists of simple (and I mean simple) necklaces and earrings with swavorski (sp?) crystals.  Their prices start at $90 and they are pretty successful.  Something about this has always made me sick since I know the cost of supplies and that there is little skill involved in what they are doing.  So obviously there is a market out there, just try promoting more and keep on fighting the good fight with fair prices.

P.S. My sister suggested I purchase their items for my bridesmaids for my wedding.  I said hell no, then went and bought the supplies and made it a bit fancier than anything they do and the supply cost for necklace and earrings were around 20 for each bridesmaid.


« Reply #43 on: July 11, 2009 02:20:37 AM »

I try to keep my prices low as long as I can make a small profit after the cost of materials and the time it takes to make the item.  I intentionally do not offer items that take an extravagantly long time to make or whose materials cost a lot, like my T-Shirt quilt.  I offer those on a custom order basis--that way I'm not losing out on labor or material costs when I make the item.  Plus, I remember my broke college days Smiley

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« Reply #44 on: July 16, 2009 07:13:25 AM »

I will be starting an Etsy shop soon and I've been curious about the pricing myself.  Some items I see are posted on the cheaper side, but when you look and there's 145+ pages of the exact same thing, you can understand why in some cases.  Other cases like others have said, in the way overpriced dept, you have to just wonder about.

 I've always chuckled at the whole tutu dress phenom, it's an out fit that takes about an hour from start to finish with about $15 worth of materials and you see them up there for $100+.  I have to seriously wonder about the person who thinks her time is worth $80 an hour.  What's sad is that people shell that kind of money out not realizing how simple those are to create and make, ie, how ripped off thier getting. 

Talking to my mother and she's up there with pricing high ( she actually wanted me to count in the time it takes me to pattern design and mock up for kinks in there, which I think would over price my items to the moon), which seems wierd to me, as I actually want to sell the stuff I'm making.  Not to mention I think that being 'the new kid on the block' with no sales under my belt at first will work against me, so selling low seems reasonable, at least until I make a name for myself and have some sales to work for me. 

Also, sometimes the material I buy is bought cheaply, but not cheap fabric.  Recently I got a few shy a yard remenents of some nice cotton, bought at about $1 each, when those fabrics normally go for about $6-9 a yard.  So a little 2-3T shirt cost me about $3 in material and notions, when asked how much I wanted to sell the shirt for, I said $10-15 for the shirt, I think that's fair, I got some responses that it was too high ( they didn't know the base cost) and some that said too low.   To me it seems reasonable, I'm obviously making a profit, if the shirt sells. 

I think when walking the Etsy line, no one will be truely happy about the pricing on the site.  It maybe something that alot of people will be muddling thru. 

« Reply #45 on: October 21, 2009 03:05:23 PM »

I think the only way to know if you're pricing things right is to do your own market research and don't trust any "facts" but the ones your personal research confirms!
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