pricing certain items

[Mike]

I'm going to mention some prices I have either gotten, had suggested or thought about when pricing certain items. Please give me your feedback as to whether these are low, high or just right.

Checkbook - $125 - $175

Clutch - $150 - 200

Belt - $75 - $125 or more

I do not make a lot but I try to make things nice.

Mike

[Randy Cornelius]

I don't think you are too far out of line. I think you have to price items to what your customer base is willing to pay and still remain in business. It also depends on where you are and what your overhead is etc. Here is what I charge for a belt just to compair.

Plain, no tooling with linning. 50.00

basket stamped linned 75.00

Letters cut carved and stained or painted 5.00 per letter.

Partially floral or oak leave 100.00

Full floral or oak leave 150.00

So I don't think you are out of line on your pricing. People will pay for quality, those who want Walmat prices will shop at Walmart....

Randy

[TimberWolf]

Mike, I set a "per hour" labor rate for myself, plus the cost of materials. I like to keep the MINIMUM at $30./hour, but then overhead and self-employ taxes have to come out of that rate. I agee with Randy, if a customer can't afford what you charge, then they will have to shop elsewhere.

Tim

[Kevin King]

Mike, I set a "per hour" labor rate for myself, plus the cost of materials. I like to keep the MINIMUM at $30./hour, but then overhead and self-employ taxes have to come out of that rate. I agee with Randy, if a customer can't afford what you charge, then they will have to shop elsewhere.

Tim

ditto.

[Johanna]

Agree with Tim, too. People who pay bills with leatherwork have to closely monitor their time and charge accordingly. Time is the one resource we can't get more of, no matter what.

Johanna

[K-Man]

I'd suggest doing some comparison shopping of the items you're making/selling and see what the market bears. If your pricing is out of wack with what you find, then you're going to have to be prepared to answer the question of, "Why?" Not saying that you're not justified in the price point you set for an item, just be prepared. The market share shrinks as the price goes up.

[ClayB]

I dont try to sell any of my leatherwork, but considering how much time certain projects take, I think you are pricing your work fairly. If I could sell checkbook covers for your price though, I wouldn't even consider making a belt for $100.