Thread: How much ???

hi brad
im thinking that your price was on the lower end of the scale , depending on the pristina plating choice , the finish and also if you live in a crafty /artyfarty area but im guessing no less than $150

Hi Brad,
Seraval months ago I worked on 3 to ratio but now do do it diffently e.g $7.50 GPW junior gent $30 blank plus $0.70 case = $60 price tag and let them haggle up to $10 off for cash. A Church fountain pen $14.5 plus blank $3 plus nice $3 case $75 price tag and if they haggle $65. I don't live in a crafty /artyfarty area but in the iron triangle. Just remember once you price it you canot raise the price but let them haggle


Trevor

So for example i recently sold a set of 2 Pristina fountain pens ( i posted some pics on here) one was Box Elder and the other was Wenge in a nice box for $110. Was that ok? NO

There are so many factors that determine what you can sell a pen for it would melt your brain.....

The method I use is:
Cost of materials(display box or sleeve and blank and kit) X 2.75
Plus $5(to cover all the little things like sand paper, CA, whatever)


Example:
Slimline($1.95) Gold
Blank($0.45) Eastern Red Cedar
Sleeve($0.75) Black felt
Plus $5.00(extra stuff)
Equals $13.66(I would general just round this to $15.00)

To a lot of people that would seem low. But this is a hobby for me, and if I wanted another 'job' I'd go find one that paid better. Could I get more, probably...but that also depends on what my local market can handle. If people don't have extra cash, they generally don't purchase the 'finer things in life'.







Scott (as long as your happy) B

I raised this question some time ago and the general consensus was a price tag of 3 times what it cost you in bits and pieces. So a pen kit, blank, glue, sand paper, MM, electricity etc that might come to $50 should be sold for $150. A great formula but then you have to sell them and that will depend a lot on the quality of your work and your access to a wealthy market. The chances are a lawyer wanting to impress people with a unique pen will be prepared to spend a lot more than a person who is an office worker for the same lawyer.

That aside I think the real question is whether you are making pens for a hobby or purely to make money. If you are happy to spend a couple of hours making a pen at a cost of $50 and selling it for $100 you are still getting your money back and making about $25 an hour for labour and that's not too bad in pen making terms. I think you did reasonably well.

The other test if you are getting too many orders is to raise the price slightly until you reach a point where you are getting just enough orders to keep you going. You will probably end up making the same amount of money for less effort.

Originally Posted by plantagenon

That aside I think the real question is whether you are making pens for a hobby or purely to make money.

I find the general logic of this statement a bit reversed. If its only a hobby, it probably means you are doing it an a Sunday, Or at least a day off. Which means you should really be paying yourself double time.

Perhaps you are right tea lady but as a member of the newly retired, pen making is probably only a hobby for me even though I wouldn't mind making some money from it. But with my retail endeavours to date it only means that I would have to draw down more money from the retirement fund if I was to pay myself double time on a Sunday because the buyers aren't going to do it It will be a long while before I can buy a Rolls Royce from pen profits

Thanks everyone for all your feed back i really appreciate it , it has certainly given me something to think about , for the moment i think i will enjoy the hobby and make sure i cover costs and have just a little extra to put in my tools fund lol
Cheers Brad

Hey Brad. I'm pretty much the same as what Greg (Plantaganon) charges. I enjoy the hobby (when I get time), but also enjoy selling them so I can perpetuate the hobby, at the moment my hobby is self supporting, + a little bit for the beer fridge

Originally Posted by tea lady

I find the general logic of this statement a bit reversed. If its only a hobby, it probably means you are doing it an a Sunday, Or at least a day off. Which means you should really be paying yourself double time.

Self employed don't get OT rates (although many feel they have the right to charge that). Same goes for Contractors. Next you'll be adding GST state and fed and super but pocketing the lot.

Originally Posted by wheelinround

Same goes for Contractors. Next you'll be adding GST state and fed and super but pocketing the lot.

Isnt that what all us contractors do lol

I had a situation about pricing a while back someone had asked a pen to be made Sierra I think, they asked how much I told them $30. They went ballistic.......seems they had seen on Epay pens of the same for as low as $10. Of course my reply was well go buy it. I asked them to send me the link which they did, it was for the kit only BUT the photo showed a finished pen. It took a lot of explaining and of course the fact they had not read the details correctly.

Pricing is a difficult one. A lot of variables to consider. I guess it all comes down to what you are happy to accept for your time and efforts, and what your particular area will support.

For a basic single barrel pen , I start at about 3.5 times my costs, and it goes up from there.

Thats roughly what I work with too.
When working with blanks that take a lot more work to make, turn or finish this should also be taken into account as it is all cost. As has been said before Sell too cheap and you will sell lots but make little, sell at your cost plus, and do not under sell yourself. Im a firm believer in you get what you pay for and if they are quality and well made then you deserve to be rewarded accordingly.

Cheers
Tony.

I made some pens for other people as christmas presents. jr Junior all nicely done 20 coats ca etc etc. I sluged them $55.00 each. Nobody complained in fact on said they would have paid $75.00 each as they looked good at it will make them look good for giving a nice present.
Bugger me I said.