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How do you price a quilt you are selling?

How do you price a quilt you are selling?

Old 04-17-2011, 08:56 AM
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I will be participating in a craft event in June and I am making up lap quilts, etc. for the event. Is there a formula you use to determine how much you sell a quilt for?

I've heard double the cost of the fabric, but is that accurate?

Thanks for your thoughts.
Happy Quilting,
Barb
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Old 04-17-2011, 09:16 AM
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I think it depends on the quilt. From what I've seen the more complicated or ornate, the more expensive. Part of it is what you are comfortable asking for. If you feel that double cost of fabric is to much then do cost of fabric plus half. Just don't sell yourself short.
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Old 04-17-2011, 12:03 PM
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Every area is different. There is no set way to determine what you can sell for. Look at your economic market but don't price too low.
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Old 04-17-2011, 12:35 PM
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You should keep track of the time put into it and decide how much you'd like to earn for your time. Then add overhead, which includes the fabric, batting, thread and a percent of the fee you may be paying for the booth. If you're worried that it might be a little high, put up a sign that you'll reduce you prices by a certain percentage during the last hour of the fair, or just offer that verbally to any customers who might say something like, "I wish I could afford it." If you were to under price things, you would not only be selling yourself short, but you'd be making it harder for other quilters everywhere to get a fair price for their work. Another way to get some idea would be to talk to others who will be selling at the fair, and see what they consider the hourly amount for the time they invest in their crafts.
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Old 04-18-2011, 03:08 AM
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I would keep track of everything you had to buy for that particular quilt and then charge 4 times what you paid for materials. That, then, includes your time and labor. Be sure to keep track of the quilting, either hand, machine or tying.

My sister was a clothes designer and said that big companies charged 4X the amount of labor, materials and time. I did the same when I was in the ceramic field. You are not making a great fortune, but if you have supplies left over, you can count that again for your next project.

If it costs you $200 to make a double quilt you charge $800 for it.

Sounds steep, but no one ever understands the time and effort you put into it. I am in the process of making a quilt right now for my husband and I and I have been working on it since last June. Oh, yes, whatever you buy on sale you use the regular price. Edie
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Old 04-18-2011, 07:15 PM
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Thanks, everyone!
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Old 04-19-2011, 01:14 PM
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I had an interesting experience recently. I made a quilt, batiks, simple Chinese Coin pattern, maybe twin size... Donated it to a private non profit organization for a silent auction. I had a jelly roll, some batik yardage, backing and batting. Maybe 75 bucks or so. It was machine quilted and that work was donated as well, but it would have cost $80 or $85 I'd guess. They had a professional value it for the auction and he said it was worth at least $950. Amazing!
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Old 04-19-2011, 07:43 PM
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It must have been very nice. Thanks for the post,
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Old 04-20-2011, 04:16 AM
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prices are very dependant on location--what you may be lucky to get $45 for in one area may easily get $200 somewhere else. so you need to do a little (market research) for your area- contact (or visit) some lqs', call long arm quilters in your area and ask what they charge for their services for quilts you are considering making to sell- then you can add in that amount to the over-all price. keep track of material costs-
you can base your prices on a (time basis) (such as $20 an hour - 3 hours - $60)
or you can base your prices on materials + time x 3 (just an example)
or a combination of the two. but you should start with finding out what others in your area charge.
my mother used to have a stand every summer at a local weekly craft fair- when she started she took a couple of my quilts- they sold fairly well the first year (mostly twins- mostly about $125)
the second year a different lady set up a booth- she simply took panals, put a batting and a back- some simple stitching across the top a folded forward (self) binding- charged $45 apiece for them and that was the end of my selling any quilts at that location- that summer.
did not matter that my quilts were pieced, detailed- well made- and not out of walmart fabrics...
that one person (who had other items besides her small panal quilts) managed to be the reason for 5 other people with booth space give up and close up- she undersold everyone-
turned out she was not allowed the next year- the (folks in charge) found out that she did not even make the (stuff) she was selling (one of the rules of the venue) but was picking this stuff up for pennies on the dollar somewhere else.
i do not think it is advisable (or ethical) to undermine everyone else to make a buck- i try hard to base my pricing for everything i sell to be right in the 'ball-park' of everyone else's pricing- not to say i charge the same- just comparable.
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Old 04-20-2011, 05:57 PM
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Thanks for the post.
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