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  #1  
Old 05-03-08, 04:45 PM
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How to - price out beads

Hey everyone - I'm new to flameworking and even more new to people thinking about buying my stuff.

I was just wondering what tips and tricks people follow when pricing out beads. I plan on selling some beads in an upcoming craft fair but wasn't sure how much to price them at. Any stories of past experience and pricing would be great.

-Kristina
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Old 05-18-08, 06:23 PM
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Quote:
Originally Posted by Kristina View Post
Hey everyone - I'm new to flameworking and even more new to people thinking about buying my stuff.

I was just wondering what tips and tricks people follow when pricing out beads. I plan on selling some beads in an upcoming craft fair but wasn't sure how much to price them at. Any stories of past experience and pricing would be great.

-Kristina
There are two fundamentally different ways to price beads (or anything else).

AMATEUR WAY
Kinda the same price as kinda the same stuff somebody else makes.

PROFESSIONAL WAY
Materials + Labour + Overhead = Cost
Cost + Desired Profit Markup = Selling Price

If you do the work, you should establish the price. What anybody else charges is irrelevant. There's no reason you should do the same design as others do and there's no reason you should price the way others price. Charge what you think you should be paid for your work. Ignore everyone else's designs and ignore everyone else's prices. Why copy when you can originate?
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Old 05-24-08, 09:58 AM
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I set an hourly rate, then I price by my time then add materials/elec for wholesale. I add 30-50% more for retail. then i think does the item match the price, and adjust if nec.
i bought a magnetic timer at radio shack. i keep it on my hood. It makes it easy to keep track of work. i also keep records of how long it takes to make something. after a while you will have a good idea, so you can estimate for commissions.
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Old 05-25-08, 03:42 PM
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Hi Kristina...I establish my prices similarly to how rosglassworld explained it, I even use a little digital kitchen timer to figure the time I put in on new projects. It's an easy formula and will at least give you a base to work from. Good luck with your lampworking.
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Old 05-28-08, 05:57 PM
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Thanks everyone for your imput. This will be my first craft fair and I didn't want to price everything too high and have no sales, but I also didn't want to price everything too low and come out just making enough to cover the material.

I'll make some more beads this weekend and time how long it takes me to make one.

Thanks again!

Kristina
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Old 05-31-08, 10:44 AM
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Quote:
Originally Posted by Kristina View Post
Thanks everyone for your imput. This will be my first craft fair and I didn't want to price everything too high and have no sales, but I also didn't want to price everything too low and come out just making enough to cover the material.

I'll make some more beads this weekend and time how long it takes me to make one.

Thanks again!

Kristina
Students don't get paid to go to school. There's nothing wrong with selling your beads for the cost of the materials. It's all part of your educational experience. Many well established and well-know glass artists started off selling their work very very cheap. A fundamental rule that applies in almost every business and every profession:

If you don't start off selling cheap, you usually don't start off at all.

There's a number of articles in the Business section here you'll find helpful. I especially recommend the one on Pricing.
http://www.glasscampus.com/tutorials.htm
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  #7  
Old 07-20-08, 12:41 PM
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I don't do very many craft show anymore, but I can add a few observations that might help. Don't put too many things on the display (unless you have lots of room). I find that customers tend to get overwhelmed and can't make up their minds. Demographics and the economy plays a huge factor so price accordingly. Don't get offended or frustrated when they look and walk away. Most people don't have a clue when it comes to glass, but the ones that do will boost your confidence and ego. As already stated, start with inexpensive items (say from $5-10) always keeping in mind your time, materials and uniqueness. Don't copy and create your own style. Hope this helps a little and good luck at your show!
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Old 03-30-09, 08:34 AM
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Quote:
Originally Posted by Dennis Brady View Post
There are two fundamentally different ways to price beads (or anything else).

AMATEUR WAY
Kinda the same price as kinda the same stuff somebody else makes.

PROFESSIONAL WAY
Materials + Labour + Overhead = Cost
Cost + Desired Profit Markup = Selling Price
What you’ve stated is absolutely true, the person who manufactures the product has got right to decide the price of that product and the price should be reasonable.
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Old 05-21-09, 10:20 PM
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Interesting things are been discussed here. I got to know lots of new things here. Thanks for all the posts. Hope you guys would continue doing this.
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Old 08-27-09, 06:02 AM
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I've found the key to selling is to look professional, mark prices clearly and keep them very reasonable.
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