Top Tips on Pricing

Tips for Pricing and Selling Arts & Crafts

  • Charge the same for your products wherever you sell it. 
     
  • Offer your dedicated customers discounts occasionally. This will keep them interested, and coming back for more.
  • Initially, in determining your products’ worth, you should base it on the cost of materials and the time spent.
  • Any costs of self promotion from things such as travel expenses, promotions, and even a percentage of your internet bill if you display art online, can be factored in. Basically, anything that incurs an expense as a result of product promotion can be used to decide your price. If you are promoting a group of products, then this cost should be divided among individual pieces.
  • Do not set prices based on emotions. You may feel particularly attached to a certain pieces, but do not set your rate based on that. The buyer will wonder why certain prices are higher than others, and you will have to justify the increase. For example, some works are based on personal moments, thus increasing the price by 25% because of its personal elements, is irrelevant to the buyer.
  • Never agree to discounts on your work, unless they are for regular buyers. Other art buyers who have purchased from you may hear about it, and wonder why they did not receive a discount too. There is a possibility of losing your regular art buyers by agreeing to deals or discounts with just anyone. 
  • Keep price increases consistent. If artisans increase their rates too much, they may lose many of their regular art buyers, and sell a lot less. Charge the same for your work wherever you sell them.

Borrowed from ArtProMotivate , thank you for sharing your wisdom.

2 comments on “Top Tips on Pricing

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