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I need advice on pricing my work

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  • I need advice on pricing my work

    Hello,

    I need advice with pricing up some potential work.

    I have responded to a advertisement whereby a theatre company are looking for someone to design and craft a lifesize (6 foot) crucifix and a fish mask (to be worn by an actor). They have come back to me, asking to price up what my work would cost.

    This is where I need your help, this is the first time i've ever had to price my work? At the same time I don't want to over-price my work and scare the theatre company away.

    I would really appreciate it if anyone could advise me of realistic prices I should quote. Or point me out to somewhere where I can get more information.

    The project would take me roughly 60 working hours to complete.

    Thank you.

  • #2
    Start by deciding on a sensible houlry rate. Add the cost of materials, electricity etc etc etc. The figure you arrive at is your bottom line covering costs. From there you can decide what sort of profit margin you want. For something that takes that long you will be charging a 3 figure price at least I'd have thought. Whatever you do don't undersell yourself. It's very easy to do, we have all done it. They are paying for your skill and expertise as well or they would be doing it themselves.

    pete
    "Where the spirit does not work with the hand, there is no art" ... Leonardo Da Vinci
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    • #3
      Also don't forget to add on 20% VAT? Not sure if its relevant here though. If its the right price they will refer you to others and may want to use you again

      KayleighAnn
      My Homemade Life
      ...

      Or at least the early beginnings

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      • #4
        I suppose it also depends on what you are making them out of and if the theater is providing the materials. But I was thinking at least $600US...think about what you would want to make by the hour...and someone told me a few years ago to take the cost of your materials and multiply by 3.5.

        Just trying to give you some ideas.

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        • #5
          Thank you for all your help!

          This is very useful

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          • #6
            Taking the materials and multiplying by 3.5 doesn't sound logical to me.
            I can take a discarded bit of brass and turn it into a crucifix or go out and buy 300 £s worth of gold and turn it into a crucifix. They'd both take the same number of hours to make but the brass one's maths would go £0 x3.5 = £0 and the gold one would be £100 x 3.5 = £1050.

            I do materials,
            hours,
            stuff you forget to add in like power and light, petrol or train fare to get your materials, time spent shopping, and chatting on the internet/I mean discussing the brief, providing designs etc,
            don't forget p &p or delivery,
            and as I have grown older and wiser you need to pay the salesman you (double the price you would have sold it for wholesale).

            Then give yourself a cuddle as you look at the final figure as you will be shedding tears, thinking you can't charge it, realising you are in a mug's game. A hard hearted and headed business driven crafts person is a rare beast...........

            But look on the bright side. Us artist/craftsmen have souls......and hearts......and e spread happiness......

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            • #7
              Aliceinwonderland - yes, don't ever multiply 0 materials cost by 3.5...that would indeed be useless. Doh.

              I have always found multiplying 3.5 times the materials cost to be very useful - gives me a very good starting point. Most of my materials are costly, and the 3.5 amount is always a bit shocking.

              AnnieAnna has stated her opinion of the idea, which is fine. However, please do not discard the idea - it is still a helpful formula for a newbie to use to give them a starting point, and hopefully no one would be so daft as to multiply it by 0.

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              • #8
                Originally posted by cosmic grammie View Post
                I have always found multiplying 3.5 times the materials cost to be very useful - gives me a very good starting point.
                I've heard this method for costing work too and I think quite a lot of crafters use it as a guide. It works best if you're buying 'standard' materials but if you're using a lot of recycled items (ie, branches of wood picked up in your local park for free) or very expensive materials the maths might not work out - it's all about using common sense too
                Visit Natty Netty for a huge selection of Iris Folding supplies

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