ChrisW
Gatchamaniac
I am an Eagle.
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Registration Date: 16-01-2012
Posts: 4648
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That's awesome! I make and sell jewelry so I can offer a little advice, though ultimately pricing art is part voodoo. Hope this doesn't overwhelm, I'm just doing a brain dump. You could use just a little of this advice as an experiment and then if you decided you're going to seriously stick with it, go further.
At minimum, you'll want to determine how much it costs you in materials to do each bag, and how much time it takes you. The wholesale price you'd charge would be (going strictly by math) about 3x the cost of materials + cost of your time (choose how much you want to make per hour). The suggested retail price would be about 5x that.
A lot of artists charge too little for their product. Too many.
Often you can't go strictly by the math. It might send you way too high or way too low (again, selling art/creative stuff is part voodoo). Personally I'm comforted by at least trying to do the math. If you decide you're really going to stick with this, you can help yourself by getting a wholesale account with your suppliers (will require a business license, but if you're going to sell your work you should probably have one anyway, most areas would require it). A wholesale account will really lower your materials costs.
Be sure that you get some kind of contract from the store (if you have a lot of product with them you want to have it in writing who's responsible if things get stolen, when you get paid, at what rate, etc). Find out if they want to buy the bags outright (which might mean at wholesale) or if they want to do it on consignment. While buying the bags at wholesale they might expect to pay 50% of retail, consignment IMO should be them taking 40% or less. Depends on the store.
A popular place to sell online is Etsy, btw. That's a whole other brain dump on how to do that well.
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17-03-2012 21:35
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