Thursday, October 24, 2013

The art, or confusion, of pricing handmade items

   Do you ever go to craft shows and wonder, “How can that cost so much?” I will give my answer to this at the end of this post. 
   I mentioned in yesterday’s post that I recently visited an arts and crafts festival. It was wonderful. In addition to shopping I was very interested in seeing how crafters displayed their items and priced their items.
   Here’s a question I have. How much would you spend on a handmade item? In this case let’s say a handmade bracelet.
   In my research I have come across a number of great articles about selling handmade creations and I’ve bookmarked quite a few on my computer. Here are two that explain best practices in pricing.
Pricing Your Handmade Jewelry
How to Price Your Handmade Jewelry
   If I were any good at math, or liked math, I would spend more time with my craft receipts and work with the formulas mentioned in the links I shared here. I also should keep a list of my supplies and inventory.
   Now for an answer to the question I posed in the first paragraph of this blog post. As a crafter I am becoming more and more aware of the time, money and patience that go into making a handmade item. In my case it is the handmade jewelry I make. As a shopper I like to compare prices to get the best deal. After some thought I have come to this somewhat obvious conclusion…an arts and crafts show is not a flea market. Shoppers cannot walk into a craft show searching for a deal like one they may find at a flea market.
   These are just my thoughts. I know crafters and shoppers are all different and what works for one person may not work for another.
   Thanks for taking this time with me. I suppose I should put on my thermal underwear now and head to the Creative Cave. It is 35 degrees outside! Yikes! Or do I wait for the sun to come out?

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