Question about price negotiations

[Former_Member]

A buyer contacted me and asked if I would be willing to drop my price on a quilt. Does this happen often? I'm a fairly new seller and am still not real confident in my pricing, but thought that, if anything, my prices were sort of low. Anyway, I'd be interested to hear how other sellers deal with this.

[RebeccasSoapDeli]

It does happen but generally as sellers we frown upon it. If you feel your prices are low, they probably are. Politely decline and move on.

[Former_Member]

I have had it happen. One time when I had just listed an item (I told her to check back in 45 days & if still availble I would consider lowering the price). Meanwhile, I sold the item before the 45 days. Second time, the person inquiring did not have a location listed so I had not idea if they were lower 48, international etc. So I replied that they should let me know their shipping address for me to consider any price reduction. Never heard back from them. I sew and know what goes into making a quilt. I think your prices are pretty good. One possibility would be to see where it is being shipped to to see if you can save them some money there.

[Former_Member]

I recently gotten a request to lower price on an item in my shop. I honored the request because it was reasonable and better than sitting in the shop for another month or so. I still made a fair profit for someone who will have better use for it. I suppose it depends on the item. The seller makes the final decision and ha the right to refuse transaction.

[RebeccasSoapDeli]

Really, in the end, it's about what you are comfortable with. Just don't cheat yourself because you'll be kicking yourself later for it.

I have requests for lower prices as well but my prices are already discounted $1 per bar online. They sell for $6 each in b&m shops. So I politely decline and either direct them to my sale section or my newsletter to get advance notice of coupons, etc.

[SplurgeStudioShop]

How did you account for the price adjustment on your Etsy store?

[Former_Member]

Thanks to all of you! You've all got good ideas and made really good points about things I never would have thought of. I never even thought to check out the shipping destination. Anyway, thanks again. I really appreciate your help!

[Former_Member]

I work very hard when pricing my items, trying to be fair to buyers as well as myself. I like to run sales, discounts, free shipping specials on occasion, as well as special discounts to those who visit my shop from different advertising venues.

When I first opened my shop, I too was told by a buyer, that my glass decoupage pendants were priced too high, he suggested a price of $9.00 "if I wanted any sales". He mentioned my "Evolution Series pendant in teal.

I responded as follows:

I work very hard when pricing my items, trying to be fair to buyers as well as myself. I like to run sales, discounts, free shipping specials on occasion, as well as special discounts to those who visit my shop from different advertising venues.

This means, not only adding in a profit for labor, but a little extra for discounts, so that they don't completely wipe out the reason for selling! I have to include, the time spent ordering my supplies,
price of materials, overhead, shipping and handling, my labor. before I arrive at the final price.
__________________________________

I received no response. I think, some people check out new shops and see if they can intimidate the sellers, who may be inexperienced with the ins and outs of pricing, and may come down in price, eager to make a first sale. Don't fall for that!
Reinforce yourself with careful pricing methods, try to be consistent, compare other pricing for the same type of products.
However, remember yours are unique. Eg: I do not use the same methods to make my glass pendants, as others. My designs are my own, and so are my techniques, etc. They take a lot of time to make, and that may result in a higher cost than others post for "similar" not the "same" item.

BTW: The pendant I sold was the Evolution Teal piece. The buyer was thrilled, and returned within one week to purchase another item.

I opened my shop in Nov 2010. I am very sad that I have had only 4 sales, so far, but I am working on advertising. Not changing my pricing. If I can't sell it, so be it, the work goes in before the price goes on!

GOOD LUCK TO ALL! I appreciate any feedback as well.

[efinegifts]

Your prices seem very reasonable for the creations you are selling. I can't imagine the number of hours you must spend on each one.

I think the earlier suggestion about possible shipping savings is a good one. Maybe you can see if you could ship your products via FedEx Home Delivery for a better price for US destinations.

[Former_Member]

Dear Efinegifts:

Thank you for your input regarding my pricing. I will definitely check out the FedEx shipping fees.

[Former_Member]

Efinegifts, thanks for the FedEx Home Delivery suggestion and the pricing feedback.

CBJudith, you might try renewing a few of your items each day to keep them from getting buried too far back.

[GraphixGlass]

That happened to me recently too. I politely declined and a few days later, he asked if I could offer him free shipping. I told him since stained glass is so expensive to ship that I can't offer that. And I informed him that even people who offer "free shipping" just have it included in their purchase price. I do have a listing for clearance items that I have discounted some things because of small scratches, etc.

Most buyers have no idea how much of our time goes into making our creations!