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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.

  11. #11
    Super Member jljack's Avatar
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    I sell some of my quilts, and I charge double what the fabrics cost, generally. If it's a complicated pattern or it was hard to get the fabrics, then a little more than that. I'm not a professional, but I don't want to give away all my work, either!! :-)

  12. #12
    Super Member UglyCook's Avatar
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    Now I'm on a roll, so watch out!

    Something else to keep in mind:
    If you make and sell one quilt for $800 in a six month period. How many lap quilts would you have to make and sell at $40 a piece to make the same amount?

    20!

    So don't sweat the small sales. Make it worth your time. If that $800 quilt is 4 times bigger than one lap quilt and takes you 4 times longer to make, your profit is HUGE in comparison. Get it? The price is 20 times higher!

    I listen to people endlessly discuss what $5 items they can produce and sell at craft fairs and I wonder why they bother when they are only make $1 on each item. It's OK to have less sales at higher profits. Wouldn't it be better to sit all day and sell 10 items at $25 each rather than 50 at $5?

  13. #13
    Community Manager PatriceJ's Avatar
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    i am soooooo taking notes! :-)

  14. #14
    Super Member UglyCook's Avatar
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    Funny story: I know someone who was selling hand knit scarves for twice what she paid for the yarn, and she used cheap yarn so we're talking about $12 apiece. I don't know why, but she raised her prices last year and sold even more at $20 than she ever did at $12. And she's still spending about 5 bucks on yarn.

  15. #15
    Member grannylou's Avatar
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    Wow, that is a lot of info but very helpful. Thanks. It's actually overwhelming...lol :? I printed this out so I can digetst it.... I didn't realize there is so much to consider. Thanks all of you for comments.

  16. #16
    Community Manager PatriceJ's Avatar
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    Quote Originally Posted by UglyCook
    Funny story: I know someone who was selling hand knit scarves for twice what she paid for the yarn, and she used cheap yarn so we're talking about $12 apiece. I don't know why, but she raised her prices last year and sold even more at $20 than she ever did at $12. And she's still spending about 5 bucks on yarn.
    higher prices have more snob appeal.
    some people automatically assume that if it's more expensive, it must be of superior quality.

    the Goodwill and Salvation Army sell used jeans for $5 a pair.

    a Vintage Clothing Boutique will sell those same jeans for at least $50. $150 if they're dirty and have holes in them.

    i will never understand why anybody would be willing to pay $50 for a used blouse from a VCB, but wouldn't be caught dead in a charity thrift shop.

    human beings. what'cha gonna do with them? :lol:

  17. #17
    Super Member CraftsByRobin's Avatar
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    Thank you UglyCook (gosh I'm not sure where the handle came from but your picture is beautiful!) for the advice ... which can be applied to any business ... not just quilting :)

  18. #18
    Super Member MaggieLou's Avatar
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    Uglycook you are so right! I have never figured out why people want to sell their stuff so cheap. We used to do art fairs until everybody else started doing the same thing my husband did at half the price. (The quality wasn't nearly as good.) We quit doing them. It's not worth it to spend 40-50 hours making something and selling it for $50.

  19. #19
    Super Member QweenBee's Avatar
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    Aw, they are both so sweet!

  20. #20
    Member grannylou's Avatar
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    Thank you for all your help and advice. It has been very helpful for me. :)

  21. #21
    Member grannylou's Avatar
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    Hi, just a quick update. I tried a "yard sale/bazaar" and cleared 5.00 lol.... I don't think that is for me. I will have to check some nice shops later on. I will just build up my inventory...slow progress as I am not able to do much at the time. Next year I should be more able to follow through with something. I have a quilt ready to put borders on and have a few aprons cut out. I also have a quilted tree skirt I want to do before the holidays. Oh, well, we will see.......as time permits. I miss being on but will get on when I can.

  22. #22
    Power Poster ckcowl's Avatar
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    I am so glad you jumped in here and offered all of your insite! i really stopped going to the craft fairs around here...found there were a couple people pretty much giving away their small quilts and tote bags, i could not compete. I actually set my prices where i feel they are reasonable but i still make money. and i VALUE MY TIME! to me my time is very valuable and at a premium! i hate anyone wasting my time...i do not have time for that. when ever anyone asks me to sew for them...regardless of what it is...hemming a pair of pants or sewing on a button i tell them it is $20 an hour with an hour minimum. i don't care if it takes me 10 minutes to do it...i had to take the time, i'm getting paid for it. I do not make many little quilts but when i get a special order for a kids quilt smaller than a twin i try to keep it between $75 and $125. and i discuss this with the (requester) when they talk to me about making a quilt. and YES, I STAY BUSY! i always have a back-log of requested quilts...i keep raising the prices and the orders keep coming in. Once in a while i do give someone a break..but most of the time i stick to higher end prices. if i am making a quilt i think i may sell i keep track of my time...and my materials and at the end i sit down and figure out what i believe is reasonable for the finished product...usually comes out to about 3 times the cost of materials. so far when doing our taxes my quilting has been a benifit to our overall tax return. i get very frustrated with people who 'whip up' 50 tote bags, go to the craft fair and sell them for $5 each...come on, even with donated fabric it would cost more than that.


    Quote Originally Posted by UglyCook
    Funny story: I know someone who was selling hand knit scarves for twice what she paid for the yarn, and she used cheap yarn so we're talking about $12 apiece. I don't know why, but she raised her prices last year and sold even more at $20 than she ever did at $12. And she's still spending about 5 bucks on yarn.

  23. #23
    Super Member MaggieLou's Avatar
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    Quote Originally Posted by UglyCook
    Now I'm on a roll, so watch out!

    Something else to keep in mind:
    If you make and sell one quilt for $800 in a six month period. How many lap quilts would you have to make and sell at $40 a piece to make the same amount?

    20!

    So don't sweat the small sales. Make it worth your time. If that $800 quilt is 4 times bigger than one lap quilt and takes you 4 times longer to make, your profit is HUGE in comparison. Get it? The price is 20 times higher!

    I listen to people endlessly discuss what $5 items they can produce and sell at craft fairs and I wonder why they bother when they are only make $1 on each item. It's OK to have less sales at higher profits. Wouldn't it be better to sit all day and sell 10 items at $25 each rather than 50 at $5?
    Ugly Cook you are right on. I've done craft fairs and art shows and quit doing them because there were others there selling similar things way less. My time it too valuable to give things away.

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