I have a new Garter available in my shop. I have enjoyed making this one as it is quite striking. I will not be making this exact design again, but I like working out patterns with beads so I think I may try it again.
What do you think? I have given a price of £15 to cover materials and my time, I just never know how to price my items. I think I may need to get looking into how to price my work better.
I have looked around at similar items, and some seem to be very low priced. my instinct is that people putting a low value on their work are making other crafters and artists look like they are being overly expensive. It really is hard to look beyond the immediate cost of the materials. So much time and effort often goes into a handmade item that just isn’t appreciated by just looking at it. For example the beads and facets on this garter are sewn with an invisible knot, so if a thread ever did happen to break you would only lose a couple of beads at the most. I have bought items in the past that once a thread has broken a whole section of beads has disappeared.
So here are some points I’ve noted about pricing
- Know your own worth – Know what you do better than the competition and tell your customers
- Keep accurate records of what you spend on materials
- Keep accurate records of your time spent making your items – How much would you be paid for your time in this role if working freelance or for a company?
- How much profit do you want to make
- Account for overheads – Those little extras all add up. You may not need to buy a new sewing machine every year, but you may need to pay for maintenance, add in the cost of that etsy listing etc
- What is the average price of similar items
- Get opinions from other sellers – The Etsy forums are great for this and they will usually be honest and have loads of great advice to share.
I am sure there must be so many more things to consider but these feel like a good starting point.