View Full Version : Pricing v2! ...Prices possibly figured out!
16-02-2009, 07:10 PM
16-02-2009, 08:16 PM
I love that ring.
I am assuming that you have taken for the time and the materials, in which case I would say lose the strange end figures, everything that I sell is either a straight £ or something 50. (I would be tempted to round up too, so the ring would become £12.50)
But then that;s just me, I have a thing about tidy numbers (about to get blown apart when I have a spring sale on the site!)
16-02-2009, 08:38 PM
Sorry me again. Just read through the other thread to see what I missed.
In answer to your question, I was worried that you were only charging the national minimum wage, which is £5.73 ph which in my opinion is not enough. £10 per hour I think is reasonable, it's what I base my own work on.
May I also suggest that you don't include postage in your prices. People are usually happy to pay postage on top and there's a lot of different postage options at a range of price, you can get the buyer to choose their preference and you can give them an accurate postage price once you know what they want. Don't forget to add a little for packaging if you've had to pay for that.
As for the prices you've listed against your pics, they seem reasonable to me. I too prefer rounding so that your prices are in round pounds or 50p. I round to the closest 50p, so item #1 would be £7, #2 £9.50, #3 8.50 and #4 £12
HTH. And no offense taken on the other thread at all. It's difficult trying to get ideas across in writing at times :)
16-02-2009, 08:42 PM
I went on the "materialsx3 + wage" thing on my other thread. I then added in all extra costs like P&P.
I will round them, I was really just posting exact figures so people could see what I came up with without any "buffering to look pretty", hehe :)
I dunno, even rounded up they still look weird to me. I mean, I wouldn't have expected the ring to be the most expensive (assuming I look at it as a buyer who doesn't know the costs involved!) ...Is that just me? :confused:
The ring surprised me too coming out more, I'd have thought the necklace and bracelet would have come out as the more expensive items. My rings work out around the same price as my earrings, but if you calculated all of them the same way then that's what they cost. Is it more because it took you longer? Maybe you need to set a fixed labour price for each type of item rather than going by how long something actually took you, if you're still relatively new to a technique it's going to take longer than something you're very experienced at. As Auntynet said, she now works a lot faster than she used to.
16-02-2009, 08:49 PM
Oh just seen your new thread!
Think your prices are looking good now. Hope you have sorted your formula out? Difficult isnt it? i never feel my prices look 'right'!;)
16-02-2009, 09:00 PM
Maybe you need to set a fixed labour price for each type of item rather than going by how long something actually took you, if you're still relatively new to a technique it's going to take longer than something you're very experienced at. As Auntynet said, she now works a lot faster than she used to.
Had that happen to me today, tried a flat spiral bracelet for the first time, the first one took me just over an hour, the second one about 45 mins and the third one half an hour, not sure that I am going to get it faster than that, but will have to work out an average time if I am going to do it with an hourly rate.
17-02-2009, 09:44 PM
Quoting Magic "Im guessing you all miss off the cost if you got something free"
Your not an undercover IRS agent by any chance:o
17-02-2009, 11:55 PM
I'm not really qualified to comment on the prices themselves, but I will just say on the postage issue, that recorded delivery is a complete waste of money. Especially on lower value items (where it is such a large proportion of the total cost). Standard first or second class (with a proof of posting) is sufficient to allow the sender to claim for up to 100 basic rate first class stamps (ie £36). Recorded is exactly the same, and since it travels through the same postal system (unlike special delivery (registered)), it is just as vulnerable.
Since Jewellery, precious stones and metals are specifically excluded from the compensation scheme, however, it's pretty immaterial anyway. You can, however, sometimes get away with claiming for beads and findings.
Special delivery does cover these items, but with prices starting at nearly a fiver, it's probably not going to be an option for most customers.
If it's any help, I include free UK postage on all my stuff. As a general rule of thumb, I send it regular first class with a cert. of posting for anything under about £50, and special for anything above that.
Sorry to go a bit off topic, but I thought it might be useful.
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