Am I pricing correctly?

[Former_Member]

I've seen alot of rose flower rings here on Etsy that are made out of molds or resin and are on average $12 USD. I make mine by hand using my own technique and feel like I might be underselling myself?
It seems a bit to me that, people might be thinking my product is cheap maybe due to the pricing?
By the way... the rose flower rings I make are at $8 USD.

[PlatoSquirrel]

I just looked at your shop, your pictures are amazing! I think you are def. underselling yourself. You should be charging more than the $12.

You see a lot of the other stuff (which I like too :) but yours is very unique, and I think you could really capitalize on that.

Good luck with your shop, your iterms are gorgeous!

[Former_Member]

Pricing is totally subjective.

I would suggest that you base your pricing on the following:

1) cost of materials
2) cost of your time (you don't work for free!)
3) paypal & etsy fees
4) profit you want for the item.

Total those up to get a 'base' price. If you are planning on selling wholesale, then that will be your wholesale price. (the price you sell a large quantity of a single item at).

To get a retail price, you would double your wholesale price. This gives you plenty of room to have sales, offer promotions, etc without cutting into your profit.

You might find this fee calculator to be handy
http://www.rolbe.com/etsy.htm

[PetiteFiligreeShop]

I think also that yoy could sell your rings a lot higher! I think your rings are really nice!

And crochetgal is right about the pricing, but usually you multiply your material costs by 1.2-1.5 because there are always some material that goes to waste!

It might not seem that there is that must going to waste, but lets say that from every fifth flower ring one gets broken in the mold, then in hundred it would be twenty. And that might mean that you have to sell 20 flowers just to be able to cover losses. (Of course in one ring there is more expenses than the flower, but you get the idea:) )


If you really think this there is no business in this world, that does have 100% of materials used in their products, even thought everyone would love to have that (me included)

[OneBlueDragonfly]

Your flowers are amazing, I see a big difference between yours & ready
flowers. Try not to under sell yourself, don't forget your labor as an artist.

I'll say your photos are some of the best I've viewed, please tell me your secrets. I've spent many hours re-taking photos, I just can't seem to get
that bright look. I did make a photo box. Must be I still do not have enough
light on it.

Sorry for getting off topic, really I would adjust your prices higher.

[Former_Member]

I am a but of a cheap'skate and even i think you are under pricing!! If you double your prices and sell half as many you still haven't lost anything.

Also, other people value your work as much as you do, so if you are giving the impression your flowers are only worth a few dollars then they won't see them as being high quality and so may look elsewhere. Have confidence that you're worth more - they're gorgeous!!

[Former_Member]

Thank you all for your wonderful and encouraging responses. It is really very helpful information to me :)

[Former_Member]

The others gave great ideas. I just want to add my two cents that you've got a beautiful shop and your items are gorgeous. I just favorited your shop!

[Former_Member]

Agreed to everything above me. I have bought cheap plastic rose flowers in stores for $20. I would easily pay that (if not a bit more) for one I knew was pain-stakingly handmade. Don't undersell yourself!

Also, one thing to think about is your price of shipping versus cost of product. You charge $2.50 for an $8 ring. I am so weird about shipping, and maybe it's only me, but I am not going to pay 1/4 the price for shipping of the item. Again, could just be me, but if I see something really cheap I don't want to pay a lot for shipping. Your prices to other countries are $5 (understandably so, I'm not arguing with your shipping prices), but some people may not want to pay more than 1/2 the price of the item in shipping.

Your work is gorgeous and your pictures are great! Good luck to you!!

[michellemach]

I'd suggest you add a bit more text about your process to emphasize the handmade aspect. You say "petal by petal" but what does that mean? How many petals are in a single flower? Do you mix your own colors out of the clay to get custom blends? In your current description, the handmade aspect seems like it's so short that it would be easy to miss.

[KriyaDesign]

Wow! If I made my own flowers I would proudly say that in my shop announcement. Then will price the pieces at the least $14. Going up with the bigger and more intricate works. Don't compare you flowers with the easy, ready made ones of plastic or resin. As seen in my store.

I would really love to make those beauties in your store. Since my main line is not flower, maybe in the future. Any tips on how to make them that gorgeous :-)

All the very best