Sweetest of Hearts,
How bout a penny for your thoughts!
I have a question for you regarding
The Price of Art...
or, to get more to the point,
how do YOU price YOUR art?
How do YOU come up with that equation?
I have such a hard time in this area where business &
art come together & ride that fine line of commerce.
Do you take the cost of your supplies & your time & double it?
Do perspective buyers KNOW how much each component costs
in any given piece? Just as an example with the necklace above...
the vintage coin purse cost $10
the copper finding was $5
the tintype was $5
the vintage Pepsi coin was $1
the skeleton key was $4
& those are just the main components.
There's also the crystal beads, rhinestone rondelles, copper chain,
copper wire, time spent designing, time spent creating, oh...
& I also made matching earrings with custom made, copper ear wires.
I've got to imagine my costs for the
ran at least around $45 & it easily took me a couple of days on
& off, to make it. Maybe I'm slow & I do spent a lot of time
thinking about exactly how I want a piece to look.
But, I really, really LOVE how this set turned out
& to me it's absolutely beautiful.
I consider this art.
Now here's the hard part...
I thought about everything, supplies, time, the usual suspects
& when I listed it on etsy my price was $125 for the set.
I know, that's high right!
But that's for a handmade, one of a kind,
matching necklace & earring set.
Well, it sat there for a bit & I sat here for a bit & I thought...
'It's too much, I've priced my jewelry too high
& that's why no one has bought it yet.'
So, I changed the price...
I dropped it by $50 & priced it at $75.
And now I'll wait to see truly, what is the price of art?
Is it what the artist considers it to be worth,
or what the customer is willing to pay?
It's a dance that I don't know the steps to often
& it's a place where my insecurities come out.
or what the customer is willing to pay?
It's a dance that I don't know the steps to often
& it's a place where my insecurities come out.
I can tell you one thing I do know about the price of MY art...
to me, it is PRICELESS.
In so many ways, my art defines who I am.
It's what I do & what I have always done.
I have a creative soul & if I'm not creating
with my hands, I'm creating & designing in my mind.
Yes, I guess by default, I am an artist.
If no one ever saw what I made & I never sold
a single thing, my art would still be PRICELESS to me.
It is my passion & something that has filled my life with joy & purpose.
Whether I'm knitting a scarf or pounding on a spoon, making curtains
out of vintage tablecloths for our trailer or wire wrapping a necklace chain,
I'd be doing it no matter what. That's just how I roll.
So, from this moment on, I will go forth & create & I will
remember that the value of a thing is not in what someone is
willing to pay for it, but in the process of the creation it's self.
The JOURNEY'S the thing friends, right...
& I am going to try & be ever mindful of that.
{sounds good, but I'd still love any thoughts or
suggestions you may have though}
;)
XOXO
vintagesusie
.jpg)
8 comments:
Good post. I have no good comments about pricing, I always do it wrong, lol. I think it may be whatever the market, end user, purchaser is willing to pay. We are all poor these days, so it is getting harder to sell. Keep creating.
I will give you my thoughts on pricing. I have story first... I used to sell antique jewelry. I had 2 beautiful gold filled bangles in perfect condition. I got them at an auction, and got them for a great price. Rather than be greedy, I priced them lower, to pass the good deal on to a potential customer. One sold right away. And the other sat! And it sat! Then, I was looking through a book about old jewelry, and saw a very similar one, and it was valued at 6 times more than the price I had on mine. So, I added a "1" between the $ and the price (it was $50, I changed it to $150). It sold that week! (this is a true story)
There are some people out there looking for bargains, but, for the most part, many don't know what a bargain is. It's our job to guide them, and let them know when something is truly valuable. I truly believe you should not mark down the piece you showed. It's probably worth MORE, not less. The right buyer just hasn't found it yet!! Unless you really need the money now, stick to your pricing, and wait for your buyer to come. These are tough times, and someone may need to think a little longer before buying. I don't sell online (yet), but I can imagine it's next to impossible to be found in the sea of stuff on etsy and elsewhere!!
I sell at a brick and mortar store. There is another jewelry designer there, and her prices are a bit lower than mine. And her pieces are slightly similar to mine. And she sells a lot. But...I sell things too. My customers value the workmanship and materials I put in my pieces. I know this because they tell me so.
I kind of have a formula for pricing, but it's not scientific. I take into account the cost of the materials, and that sets my minimum. If the parts are old or one-of-a-kind, the price goes up. If I love the piece (and secretly do not want it to sell it) the price goes up more!
Your designs are beautiful, and worth the price your asking.
Good luck, and please do not sell yourself short!!
Great post and such a difficult thing to do. I struggle with pricing all the time. If more people really knew what went into our art, Time and $ sales would be so much better.
Thanks for the insight.
Lynn
I have been thinking along the same lines lately, thinking about doing a mark down on some items I have listed on etsy, but, then again, think I might as well just put them away and keep them for a while if they don't sell before re-listing time comes. As I have started looking more closely at the way things are done on etsy, I believe it encourages bargain basement pricing. Competition is fierce for every sale. I know that there are other online venues, but believe they also have their downside. Maybe it is the economy, maybe my work is lost in a sea of millions of other listings, maybe people just don't like what I make, or a combination of all of the above, but I, like you, enjoy the process of creating and will continue to do so. Your jewelry pieces are beautiful, intricate, one of a kind works of art. Please don't sell yourself or your art short. I am certain that somewhere, there must be buyers for your beautiful work who are looking for heirloom quality and not just cheap prices.
It's a difficult thing with pricing indeed, therefore I don't sell my things, I just keep them:)
Your jewelry is amazing and I think you should not slaughter your creations:) Keep going!
Gaby xo
i love your blog. am going to a warehouse called the scrap exchange today to search for things to use in my jewelry.. i am also buying wire to make a birdnest . saw the tutorial on here after a google search sent me to this beautiful blog!! i am following you now. please visit my blog and follow me, as well!! have a wonderful, inspiring day. your work is inspiring to me.
shelly
www.aujourlejour-shelly.blogspot.com
Great subject!
I wonder myself, how to price art!
Everyone says I sell my creations too cheap but I don't want to price too high and not sell a thing.
{According to Hubby I make about 5 cents and hour. LOL}
I have a new perspective after reading your post and comments! Thank you ladies!
Smiles, MCH
I am just beginning to think about selling my jewelry and the pricing issue is driving me crazy. I think it is the thought-"is my jewelry really worth this"? My mind knows it is but the need for approval stills questions. All pieces are unique, not something that everyone has! So, I really know the answer-price it for the art that it is.
Your questions and the comments have been helpful.
Linda
"Ida Louise Jewelry"
Post a Comment