You know what I'm talking about right, my fellow ecommerce people?...Etsy people in particular?....Pricing an item is tricky, particulary when the price point on your particular sight may be lower than out in "the real world."...and when I say the "real world," I'm referring to a store, or gallery-- a place you can physically go to :) ...
Over the last few months I have been S-LO-W-L-Y raising my prices on Etsy because I have really been lowballing them. Also, I know I can get more for them in my studio, and in stores and galleries if I pursue that route...I feel my prices in my studio need to be comparable to those on my Etsy sight...(I would feel kind of icky if people bought something for $40 at my studio, then logged onto my Etsy sight, only to find they could get it there for $20 )...
So how do we deal with these pricing issues?...I'm still trying to figure that out...One thing I've thought of doing is offering larger pieces in my studio, to sell at a higher price point...(many of the other artists who have studios near me have prints in the $40- $50 range-- they are shocked that I sell my prices for such a low price-- $20)....I've also had customers who were shocked at the low price of my prints...which makes me wonder if I should raise the price in my studio, and at Etsy...ah...but the price point there is lower...so what to do?...hhmm....
For now, I think I will continue my current price for prints on Etsy, but also offer some larger versions at my studio. I may also yank some or all of my originals from Etsy, but I'm kind of wavering on that-- not quite sure...most of my ACEO's take 5 or 6 hours, so I'm not even paying myself minimum wage on those little guys...I really like having a full shop though! :) ....Maybe I could list the print, and note that the original is also available-- (for example say something like, if you're interested in the original, contact the seller :)
These decisions are kind of tough and kind of screwey! We'll see what happens! :)
8 comments:
First of all, I love your new pieces - great work!
Pricing is so tricky - I think it's all about finding what works for you. And raising prices slowly (when you do raise them) is crucial. I think that you find a niche where customers feel as if they're getting a good deal and you're still making a little money. It's little bit of trial and error. I always prefer the low side of pricing - I'm still trying to build a business so what I pay myself, is minimul for now.
A great post on a common dilemma!
I know what you mean about pricing conflicts with locations. I had to adjust all my etsy prices on origiinals to match my exhibition prices. Everything sold well at the exhibition, so I am leaving everything at exhibition prices. Etsy is way under-priced for originals.
I love your surreal work and looking forward to your new pieces.
thanks you guys! :) I was wondering if other people ran into these issues too :) Pricing can be so tricky! :O ...
I'm sort of the opposite. I charge more on my Etsy site, because I have to cover Etsy & PayPal fees.
My craft fair prices (as I'm not in any galleries or anything - Yet) are a little lower, since that's fee free. That'll teach people to buy somethin' when they see it ;P
I've decided though, after all my smaller prints in my photography shop expire, I'm only going to list insanely expensive gallery wrap photographs and put in the listing "if you'd like a smaller (less expensive) print, please see my website at..." and hope that it draws people to *my* website, so I'll sort of wean myself from Etsy.
anyway, huge comment - over! :)
I've already told you that you underprice your work :) Your talent is far exceeds what you charge.
You guys are so nice!!! :)...I remember you saying that Oz-- paricularly about the paper :) I raised the ACEO's a bit too :)
It was nice to see you at the bazaar Robin! I hope you made big sales! :) I didn't sell squat!! GGRR....Oh well...I'm not really good at "selling myselg"....that's why I like the internet so much -- it suits my introverted Aquarian nature :D
I am having the same issue with pricing. It is nice to hear someone speak about it. Sometimes, I think that we "cheat" ourselves by not at least paying ourselves for SOME of the time we take to create. I am going to have to raise prices next month, due to an increase in everything that I use to make items....first time in six years! That is what kind of "business woman" I am! Thanks for helping me "see the light"!
I hear ya! thank you for your comments as well :)
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