new custom item I posted how much would you pay

[EmazingThreads]

So I recently posted a new custom item (turning an old prom, formal or wedding dress into throw pillows)
right now I have it set to a $20 deposit but I'm not really sure how to price this item. The materials I need to buy are pretty much just thread and stuffing however it does take creativity and skill to make an item like this. I'm curious as to how I should figure out pricing for this item and also how much would you ladies pay for an item like this?

oh and I know I need better pictures! lol

https://www.etsy.com/listing/123957711/custom-turn-your-old-formal-dress-into

[WhisperingPaper]

I think you can up your prices a bit. It's really original.
Do you also turn peoples own dresses into pillows? I think that would be really nice! (great way to keep your dress, without just let it go dusty in the closet. )

[Former_Member]

Ok, so that is a really fun and neat idea! I would do a little research on pillows, particularly if you can find anything custom. Looks to me like between $25 and $35 is the biggest price pool.

There are lots of pricing formulas, but the one I like is: materials+labor (total of your hours spent by your hourly rate)+expenses+profit (what you want to make on each piece)=wholesale x 2= retail. (this came from etsy)

I think you can set a general price for one, two or three pillows. But, since this is a custom thing, depending on what you end up making, you may have to adjust pricing accordingly (and I mean don't undercharge yourself if you go above and beyond and make a specific shape that is really complicated, or add other material embellisments that come out of your pocket)...

Good luck, this is a clever idea.

[EmazingThreads]

MLena- oh yeah I make other people's dresses into throw pillows. I don't want to sell my own! lol

I've seen that formula before the only thing is that since I haven't seen an item like this before it could potentially be worth a little more to buyers. I also have no idea what is a fair price to pay myself. Someone said I should start at 12.50, is that what most people pay themselves per hour?

[WhisperingPaper]

...than I would really up your prices! It's an emotional attachment for the buyer and a totally unique custom pillow...

I think it's really hard to determine 'good' prices. I'm always insecure about my own work and what other people will pay for it. But... I heard a great comment: don't think about what YOU would pay (not much, you would probably make it...), but think about what someone else would pay for your item...

I try to pay myself between 7,50 and 10 euros. But than I don't really have a profit and I don't double my price for a retail price... Not really good business strategy just yet... ;)

[Former_Member]

That is such a neat idea! I would def. say you could up your price some, since it is so unique and personal to the buyer. Love it!

[EmazingThreads]

Aw thanks guys! I think I'll keep it at a $20 deposit and then see where I can go from there. I think I need better pictures and more examples! off to the thift shop I go to go make some pillows! lol