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  • Pricing Formulas'

    I do hope I have posted in the right place, apologies in advance if I got it wrong!,

    Ok So I have decided I will open my web site with wine glass charms, I have 5 designs at the moment.

    My pricing formula is,

    Component prices x 3 (I can make 3 an hour) + £5.52 (minimum wage) / 3 = Each

    Then a set of 6 = Each x 5 (buy 5 get 6th free)

    Does this seem like a fair price? only It looks a tad more pricey than others I have seen for sale?
    "Buffys Charms" my lil ol' Blog

    Buffys Charms Website

  • #2
    I think we have had this question before, pricing is always a sticky subject, on the one hand you need to earn a living but no sales equals no income. Not sure what the end figure is but google wine glass charms and see what the prices look like. You may have to reduce slightly. A good tip is ask some friends if they would pay 'X' for the charms.
    Have just found a site where they are selling for £2.20 not sure if this is near your figure or not.
    Don't undersell yourself, you could always start at the price you worked out, see how it goes then offer a % reduction if the comments are "too expensive", the problem at the moment is that money is tight but I think wine glass charms could be good gifts as they are small and look very pretty.

    Good Luck

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    • #3
      Thank you Carole some great tips in there!!

      I will rope in some friends and "test run" my prices!

      They are from £2.10 ~ £2.85 each so I guess it isn't madly over priced then.
      "Buffys Charms" my lil ol' Blog

      Buffys Charms Website

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      • #4
        Personally that sounds a lot to me for one wine glass charm but it depends what you have used to make them. Any chance of a photo?
        www.littlebead.blogspot.com
        www.twitter.com/littlebead

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        • #5
          The expensive one has 5 Swarovski 4mm bicones so that kid of bumps that one up, My camera is broken grrrr I will try and scan some in if that works!
          "Buffys Charms" my lil ol' Blog

          Buffys Charms Website

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          • #6
            It does seem pricey I know

            "Buffys Charms" my lil ol' Blog

            Buffys Charms Website

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            • #7
              Hi Buffy take a look at Absolutely Charming for styles and prices.

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              • #8
                Thanks that is a nice site! the star cursor drives me mad though hehe

                Yes I price'd her stuff up at my costs and it is about the same prices.
                My Swarvoski butterlies cost me 20p each though so that is an expensive charm.

                May have to buy her silver beads! mine cost 3p each!
                "Buffys Charms" my lil ol' Blog

                Buffys Charms Website

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                • #9
                  I see what you mean about the star cursor!!
                  My Blog
                  Twitter
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                  • #10
                    Where do you buy swarovski butterflies from? 20p is better than beadsdirect! I just think 'what would I pay for that' wit m own stuff but then i dont write the prices down as there isnt paypal on my website
                    http://www.justgiving.com/renata-harris (1/2 marathons for World Society for the Protection of Animals)
                    http://flashsparkle.blogspot.com Vegan cookery

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                    • #11
                      Oh yeah just checked! Beads direct comes out at 27.25p
                      I bought mine in "Buffys Beads" off carnaby street, £2 for 10

                      I think I might divide my set prices by 6 and use that as an individual price. then just see how it goes from there, at the end of the day if no one buys anything it makes no difference if they're 1p or £100!!
                      "Buffys Charms" my lil ol' Blog

                      Buffys Charms Website

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