pricing craft items

I am looking at all my craft fair items for Saturday and realizing that I could raise the prices slightly. I think I have been on the low side. It is an experiment I guess. For example I have these adorable mini backpacks that have a keychain on them. I was putting $10. I can usually get one done in one evening of focused work. I am not sure what price, I am thinking of trying $12, I also have the octopus toys, totally baby safe with yarn eyes and soft acrylic yarn body. I had $15 but I think they need to be at least $20.

I will let you know how it goes, it is all a learning process anyway.

The owner of the pottery studio here does a pricing workshop before the sale every year. He always says: you can have ONE item under $5. More will detract from interest in larger items. It needs to be something you can toss off quickly and easily. $5 is just as good as $4.50 because people’s brains think “$5 limit” also, the number “$4.50” will make them think about spending actual money more than “$5” will. But $20 is a big jump. If you can sell it for $18 you will sell a lot more of them than at $20. If you’re going to $20, you might as well go a little over that. $20-$22 won’t have as much detterant as $18-$20, And you can offer 2 or more $20 each to boost sales.

also, you have materials costs. You are working all evening plus the time spent on your sale for under $10? If you choose to do that, it’s a hobby, not a job, and you are devaluing others’ work by comparison.

Excellent post, CL. i would also add, that as a buyer, I am paying for all the efforts that went on before as you were developing your expertise. But the display has to portray a sense of your expertise.

Quote:

---

Originally Posted by Chicken lady

The owner of the pottery studio here does a pricing workshop before the sale every year. He always says: you can have ONE item under $5. More will detract from interest in larger items. It needs to be something you can toss off quickly and easily. $5 is just as good as $4.50 because people’s brains think “$5 limit” also, the number “$4.50” will make them think about spending actual money more than “$5” will. But $20 is a big jump. If you can sell it for $18 you will sell a lot more of them than at $20. If you’re going to $20, you might as well go a little over that. $20-$22 won’t have as much detterant as $18-$20, And you can offer 2 or more $20 each to boost sales.

also, you have materials costs. You are working all evening plus the time spent on your sale for under $10? If you choose to do that, it’s a hobby, not a job, and you are devaluing others’ work by comparison.

---

Thanks chicken,

I checked some prices on etsy and i am comfortable with the prices being fair. I saw some way low and i can't do that, plus i felt like you said about undercutting artists who are not just doing a hobby. I really don't have any 5 or under, maybe quickly make some spirals and put a bell on the end for a cat toy. I have make several in an hour and have the yarn.

Interesting point razz, my sign and backdrop is from maker faire where i also educate on crochet work. So i will put out my educational pieces as well.

Make cat bells while you sit at your booth. You can still stop and talk to customers, but you are less “threatening” than a salesperson staring at them. Also, people will come closer to see what you are doing.

Good idea, and found my tags right after i bought more! But the new ones are big enough to add my email so i can use them for bigger items