Pen prices...

[Skew ChiDAMN!!]

I don't know how many of you made it into the Aust. Woodturning Exhibition this week-end, but I was stunned to see one of the entries, comprising 3 pens, had a price tag attached of $2500!

Sadly, I didn't take any pix... but I think Rodent did? Rod? You reading?

[Gra]

But did it have a sold sticker on it???

You can ask as much as you want, it is your right, if you can get someone to pay that much good luck...

Been having a similar conversation in an american car forum and they just reference it as "using their first amendment rights".. Ie, you can say whatever you like, noone has to believe you

[Frank&Earnest]

Been having the same conversation with all my kids, at one time or another of their life... Economics 101, Definition of Price, Cost and Value...

[old dog]

Skew do you reckon they were worth it

[rodent]

IMG_0260gat the show.jpg
sorry bad picks but i was rushed . thats my story any how.

[JackoH]

I think it costs less to enter an item if you put a 'For Sale' tag on it.
Perhaps the exhibitor didn't really want to sell.

[Skew ChiDAMN!!]

Thanks, Rod.

Skew do you reckon they were worth it

No. Not in my opinion. They were nice pens and very well done, but that price is... well... I imagine the turner is either in the legal profession or is a plumber!

I think it costs less to enter an item if you put a 'For Sale' tag on it. Perhaps the exhibitor didn't really want to sell.

Nup. $8- flat fee per item entered. But I guess putting an exorbitant figure on it is one way of being both subtle about 'NFS' and attracting attention.

[bdar]

Can't make out the type of kit on the left but the middle is an Emperor and the one on the right is a JR Gentleman. Now if both were fountain pens and saying that the blanks are Amboyna. An Amboyna blank is around $10 in Australia, if the kits were bought in Australia an Emperor is $99 and a JR Gent is $39 from Carb-a-tec. The Emperor price with the formula I use would be $325 and the JR Gent would be $145. If the Emperor and JR Gent were bought from America, the Emperor would be $235 and the JR Gent would be $95. For these pens to be $2500 the finish and fit would have to be flawless. The Emperor has 22k gold fittings the JR Gents in Australia are 10k gold fittings.
Darren

[Ruffy]

Agree with bdar's pricing estimate, except that the middle pen which, (is an Emperor), can also be purchased in a limited and numbered series (500 only) from Craft Supplies USA. They retail for for the kit only at $159.99 USD each.

So sticking with my formula (3 * cost) I get a sale price of $600 for that one. No way do the 3 add up too $2500.

But you know what they say about a fool and his money............

For those interested or with the money Limited Edition Rhodium/22K Emperor

[Skew ChiDAMN!!]

Mind you, if the bloke did/does make a sale at that price, all kudos to him!

[Matt88s]

So pen pricing is a question I've been wondering about. I'm getting quite a few of these things laying about even though I try to give them away as fast as possible.

So if I was to open up a little booth somewhere how would I determine the pricing.

How much would a set like the cigar's I just made go for do ya think? How much would just one cigar? A cuban cigar?

How do little things like matching sets affect the price?



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[Skew ChiDAMN!!]

Ahh... Matt! You do know you've opened a can of worms, don't you?

Everyone seems to have their own pricing system, Ruffly has already mentioned his: three times cost. Which is fair enough, assuming good workmanship. It's in the ballpark of reality at least, unlike some! This has all been discussed several times before, so at the risk of sounding like Gumby: "do a search."

A matched set, especially a well matched set should have the cost bumped appropriately. It's not like you can pull just any other pen from your stock as a replacement if you (stupidly!) sold one by itself. Personally, I'd work out the price of each pen individually, then add another 25-30% to the total.

[rat52]

It is not what the item costs but what the market will bear

[Sebastiaan56]

Hi guys,

Most manufacturing busineses work on a multiple of material costs as a base and then charge what the market will pay. As a rule of thumb 4-5 times "Cost of Goods" (COG's) will work for businesses with marketing and staff overheads. For craftsmen with lower operating costs you will be able to get away with lower pricing formulas. In the end the question is how much do you value your labour? I wont work for less than $120 per hour, how many pens do you need to make to earn what you want to earn?

Setting prices collaborately is illegal so I dont want to encourage that, and this is a public forum.... that said sharing formulas is not.

As for the price, well if you can get it....

Sebastiaan

[PenTurner]

I find that around 3 times the cost is reasonable, but factor in other matters such as quality, demand for item, rarity of item,
my slimlines go for between 25-30 dollars, Sierras 35 -55 etc, a well matched pair such as displayed in your photo probably $150-$200, once again, it is up to yourself in these matters, only sort of rule of thumb guidance can be put forward. Amos