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Thread: Request for Pricing Advice

  1. #1
    Member grannylou's Avatar
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    Just wondering if you think it is too much to ask for a lap quilt, tied. I am asking $45.00 each. The baby quilt I am asking $35.00. I am new to this so am not sure what to charge. Thanks, Louise (Grannylou)
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  2. #2
    Google Goddess craftybear's Avatar
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    please read the forum rules if you plan on selling on this site

    http://www.quiltingboard.com/t-651-1.htm

  3. #3
    Member grannylou's Avatar
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    Sorry I am just learning. I just read the rules. Thanks.

  4. #4
    Google Goddess craftybear's Avatar
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    not a problem, just wanted you to know!

    I sent you a private message ( look at the top of the page) to read it

    Quote Originally Posted by grannylou
    Sorry I am just learning. I just read the rules. Thanks.

  5. #5
    Community Manager PatriceJ's Avatar
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    i changed the title and moved the topic. even though you can't sell them here just yet, they're quite nice. maybe some other members can give you advice about asking prices.

    there are lots of other places you can offer them for sale. :-)

  6. #6
    Member grannylou's Avatar
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    Ok, I think I qualify to use the sale board now. Do I re- submit my notice or is there a way to transer it? Will you check to make sure it is ok to discuss sales and pricing now? :roll:

  7. #7
    Super Member UglyCook's Avatar
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    Those prices seem really low to me.

  8. #8
    Community Manager PatriceJ's Avatar
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    Quote Originally Posted by UglyCook
    Those prices seem really low to me.
    what price ranges would you recommend for each quilt. would you mind also explaining the reasons for your recommendations?


    i know there are hundreds of quilters with their eyes glued to this spot. advice from a professional is worth its weight in gold. :-)

  9. #9
    Member grannylou's Avatar
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    Thanks for your comments. Actually, I am not sure I will even make any money at that price if I have to furnish the postage too. I am just trying to feel it out right now. I have not had time to go to shops and check prices, but have thought about doing that. I want to be fair, but still make a little money to support my hobby and help with finances. lol

  10. #10
    Super Member UglyCook's Avatar
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    My experience is in machine embroidery (4 years) and taxes (15 years). I have seen a lot of mistakes people make in businesses so here goes.

    "I'm not really a business, I just want to make a little extra pocket money"

    That's called a profit, ma'm, and that makes it a business. Profit is not a bad word. Profit is the "blood" that keeps a business going.

    "I don't need to get paid for my time"

    Huh? Why not? Would you work for me for free? :wink:

    "No one around here would pay me for what it's worth"

    Then don't make it!


    Here's how I set prices, and I know it's hard!

    What does it really cost me?
    -materials
    -equipment
    -time
    -space
    -stress
    -taxes
    -supplies

    Materials are easy. How much did you spend on the fabric (or yarn or whatever) including backing, batting, etc. If it was given to you, then what would it have cost you to buy?

    Equipment includes your machines, scissors, lighting, etc. Anything that you don't use up. Include cost of maintenance. Figure out your total costs of the little stuff and divide it by 12 and then you know your cost per month. Depreciate your machines over a 5 year period and do the same. If you come out with, say, $100 per month then you need to spread that cost out among all of your projects each month. If you do 2 items to sell, add on $50 each. If you do 20 projects, add $5 each.

    Your time is valuable. You are an artist. Absolute minimum you will accept is $20 per hour. $50-$100 is probably more reasonable. I'm not kidding. Why? Think about $20 per hour. You must set aside some for self-employment taxes (15.3% = $3.06), some for your IRA (10%=$2), some for savings (10% = $2), and some for income taxes (15%=$3, 25%=$5). Yes, you NEED to claim this income but that's another discussion.

    So out of that $20 you are netting $8-10 per hour. Hmmmm.

    Space is the portion of your home that you are dedicating to this. Most of us don't give a certain portion 100% to our business of quilting or crafts so we can't take a deduction for office in home. Never the less, it is still costing you a part of your mortgage, taxes, utilities, etc.

    Stress. LOL Quilting is fun, right? Especially when you are trying to make someone ELSE happy. Keep it in mind.

    I mentioned taxes above.

    Supplies include spray starch, pencils, postage, etc. The stuff that you use up fairly quickly.

    Ok, so now we have a baby quilt. $35 in materials? A VERY fast and simple quilt takes you 2 hours :roll: ?

    At that rate, you would need to charge $80-$100 to make a small profit.

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