Do you ever have a hard time pricing an item you're selling?

[jamielynn1985]

I've posted in another place on the board about a hat I'm getting ready to make for my first paying customer. I am going to make this hat with a slight modification to make it slouchier. The other post was about finding a substitute yarn to use. Anyways, I was looking at the price for the yarn in the project, for 4 things (the pattern only needs 3 but due to my modification I want 4 to make sure I have enough) we are talking $16. I don't even know what I would charge for my work. I've already explained to him that the materials will cost around $16 depending on what yarn I end up using. He understands and told me not to worry about it and he's more than willing to pay for my work but I don't want to overcharge him either. The problem is that I personally couldn't pay over $20 for a hat so I feel like more than that would be too much but I also know that because I am changing to hat from the pattern it is even more special than something mass produced.

 

I was thinking maybe $30 or $35, what do you think. Reasonable? Also, please tell me I'm not the only one who has a problem with pricing.

[DebraKay]

I would at least double the cost of materials. So you are right in line with what I would want to charge. It is worth it -- he will have an original item that he can't walk into any store and buy.

[patsemsprott]

I concur with DebraKay - it is worth it - and remember too that you are going to put in time which is valuable making the hat - how much per hour should you get paid? It is difficult if not impossible to price to cover your time at a really reasonable rate, but keep that in mind when you start to feel bad about how much you are charging!

[darah]

Ugh yeah, I hate pricing things. I always worry that I'm pricing them too high, but then my husband reminds me of how much time goes into some of it.

 

I think doubling the materials cost is a good start and really, for a custom-made hat like that, isn't a terrible price.

[IamJolyn]

I think you are priced good also, for a custom made hat. I am thinking about doing an etsy store myself, and the thought of pricing things so I make money at them . . . and they sell! not sure how I will do it lol. But congrats on your first paying customer! It is a good feeling when someone whats to pay you for something you enjoy doing