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Tips, Techniques, and Questions -- Technical questions or tips |
2011-09-25, 1:58pm
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Glass-aholic
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Join Date: Mar 21, 2007
Location: CT, tolland CT
Posts: 4,332
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Can we talk $$$???
I have a whole bunch of beads that I am looking at to price out and was thinking... I am wondering have you noticed a general slow downward pricing on beads?
Disclaimer: Yes I know there are bead calculators, and the 3x rule and the "price out your time" etc... I am not even asking for help on pricing my own stuff, just a general conversation here.
Have you noticed lower pricing on beads, or have you lowered your prices?
Either because of the abundant cheap competition (talking china etc), or because of the economy? I was just looking at some prices on some beads, to get a ballpark of what they are going for, and noticed that some few artists have their tried and true prices (and I am sure their regular cliental. Which is GREAT IMO ) but many beaders seem to have lowered prices. Is it just me??
I tend not to look at price, but to look at beads on a regular basis if I am looking at beads, so it was a bit surprising to me.
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Minor 10lpm Oxy-Con + HH on Propylene . . . . . .
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WASHERS & TOPPERS - layering components for interchangeable glass topper and to use in other jewelry/metalwork.:
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2011-09-26, 11:19am
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Senior Member
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Join Date: Oct 08, 2010
Posts: 855
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I had my first show the week before last and I had no idea how to price so I went with what everyone suggested. The $1.00 per minute of torch time. My flat frit focals ended up being around 6-8 dollars and I sold several.
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2011-09-26, 11:42am
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I'm a lilac!
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Join Date: Jun 09, 2005
Location: Portland, Oregon
Posts: 8,793
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I've adjusted my prices quite a bit, as well as making certain changes to my presentation so I can price sets with more beads for less money. I'm selling larger sets of smaller beads and have eliminated the crystal and sterling spacers I used to include. This is saving me overhead on the spacers, as well as time on stringing sets up. I used to include free beads with every order; I switched out for candy, so I could lower my prices.
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-Kalera
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2011-09-26, 12:40pm
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Senior Member
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Join Date: Oct 08, 2010
Posts: 855
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Hopefully the economy will perk up again.
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2011-09-26, 5:44pm
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Senior Member
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Join Date: Jul 16, 2005
Location: Jackson, MI
Posts: 396
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I've lowered my prices about 10% per year, for the last few years. The $1 per minute torch time used to be my standard, but I want my beads to move at each show, so that is no longer feasible for me. I keep in mind that I don't buy anything from retail stores or catalogs except during their 25%-40% off sales, so it only seems reasonable to lower my prices.
Of course, this would depend on how quickly you want your beads to sell. I like to sell most of my inventory at each bead show, and make new stock for the next. Some people might make more actual profit by holding out for more $$ and taking more beads from show to show.
Anita
www.nitabeads.com
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2011-09-26, 8:41pm
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Senior Member
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Join Date: Aug 17, 2011
Posts: 274
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I think it depends on the show. I am usually selling pottery but the same logic applies. What will the market bear. I have small pieces that are reasonably priced to keep the sales coming in $10-$15. Then I have a few pieces $20-$60 and all sparkle on the top shelf my show pieces $200-$1500. I try to have something for everyone. I notice that people selling at higher prices were suffering from low sales this year.
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2011-09-26, 8:45pm
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Glass-aholic
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Join Date: Mar 21, 2007
Location: CT, tolland CT
Posts: 4,332
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That was great imput. I really appreciate it. I find that I am looking to lower my prices by a few dollars here and there. I will have some pieces that (I love) priced at my previous standard. Mainly because it makes me feel like they are going to a good home when they sell . Other things I make for show I have seem to offer options that lower the price, such as less frill necklaces, (which gives the customer options, and saves me findings and such) by giving the option of just ball chain or having it "done up" for a few bucks more. I really have not bought anything for a while glass or supply in a while, I kindda just want to move some inventory. I'm also making lower cost bookmarks and cell charms. Hopefully they will sell pretty well. I don't want to be dragging the market down by lowering prices, but I am not sure I would make enough to cover table if I dont. In this area money is tight right now all around. I want everyone to be able to buy art on a budget. I figured my budget was the best one to start with it's itty bitty!
Ok that was longer than it sounded typing it lol. Main point. Thanks!!!
ps I don't think I've ever charged $1 a min... Hummmmmmm something to ponder I suppose in the uprise of the economy (eventually)
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Minor 10lpm Oxy-Con + HH on Propylene . . . . . .
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WASHERS & TOPPERS - layering components for interchangeable glass topper and to use in other jewelry/metalwork.:
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2011-09-27, 10:30am
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I'm a lilac!
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Join Date: Jun 09, 2005
Location: Portland, Oregon
Posts: 8,793
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It's a quandary, because I have to price work to sell it, but if I can't make a certain minimum I can't support myself with lampworking. I, too, hope for an upturn in the economy!
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-Kalera
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2011-09-27, 11:42am
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Experimentalist
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Join Date: Nov 15, 2005
Location: Penryn, California
Posts: 6,758
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Quote:
Originally Posted by hotflashwanda
I've lowered my prices about 10% per year, for the last few years. The $1 per minute torch time used to be my standard, but I want my beads to move at each show, so that is no longer feasible for me. I keep in mind that I don't buy anything from retail stores or catalogs except during their 25%-40% off sales, so it only seems reasonable to lower my prices.
Of course, this would depend on how quickly you want your beads to sell. I like to sell most of my inventory at each bead show, and make new stock for the next. Some people might make more actual profit by holding out for more $$ and taking more beads from show to show.
Anita
www.nitabeads.com
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This brings up something I was thinking about recently...
When you lower your prices, do you just lower there or do you visibly mark them down (so that people KNOW you've lowered them)?
You mention you don't buy anything retail except during their percent off sales. That makes me wonder if people want to SEE the markdown or if they just know a good value when they see it.
I recently lowered the price of a number of my items but I didn't "mark them down"... I just changed the price. No one would KNOW that I lowered the price unless they specifically knew the previous price, know what I mean?
I'm curious about customer perception.
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2011-09-27, 12:00pm
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Senior Member
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Join Date: Jul 20, 2007
Location: Northeast Ohio
Posts: 385
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I started lampworking in 2007, got going in 2008, then the downturn. My initial stategy was to slowly raise my prices as my work inproved, but then the economy tanked. So I have raised my prices slightly over the last 3 years, but not much. I seem to have found a good price point for my sets though, I am happy with it and they sell pretty quickly to my regular clients.
It is a dilemma for sure- can you look at what type of beads sell well for you and use that as a starting point? Maybe adjust up/down from there?
I love to make focals but can't sell them, so I go with sets Good luck, I'll be following this thread to see what everyone's thoughts are. Laura
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2011-09-27, 12:57pm
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Senior Member
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Join Date: Oct 08, 2010
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Part of my problem is I am only planning on doing a few shows a year. No idea what to charge other than the dollar a minute thing.
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2011-09-27, 1:50pm
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randomly active member
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Join Date: Jan 19, 2006
Location: St. Paul, MN
Posts: 791
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Quote:
Originally Posted by Laura B
This brings up something I was thinking about recently...
When you lower your prices, do you just lower there or do you visibly mark them down (so that people KNOW you've lowered them)?
You mention you don't buy anything retail except during their percent off sales. That makes me wonder if people want to SEE the markdown or if they just know a good value when they see it.
I recently lowered the price of a number of my items but I didn't "mark them down"... I just changed the price. No one would KNOW that I lowered the price unless they specifically knew the previous price, know what I mean?
I'm curious about customer perception.
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I'm probably just a snob ( okay I know I am a snob and I readily admit it) but if I see something has been "marked down" my first impression is "oh it must suck so they have to lower the price to move it." Is that horrible of me? It probably is, but that is what my mind immediately goes to when I see the word "SALE".
Pricing is something that eludes me as well and I am continually changing the amount on my beads to find a price point that reflects my skill level ( or lack thereof) and matches the market. When I change my prices I never announce it (because of my previous pre-conceived perceptions on the word sale).
Storewide percentages off and coupon codes resonate totally different in my brain, however, and I love me a good 25% off sale across the board Yes. I realize that makes absoluely no sense whatsoever.
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2011-09-27, 2:06pm
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The Harbinger of Cuteness
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Join Date: Dec 11, 2007
Location: Los Osos, San Luis Obispo County, California
Posts: 1,465
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Quote:
Originally Posted by sweetiedog
Storewide percentages off and coupon codes resonate totally different in my brain, however, and I love me a good 25% off sale across the board Yes. I realize that makes absoluely no sense whatsoever.
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Actually, Leslie, that makes perfect sense. You're concerned if a particular item is marked down then there's something wrong with that particular item, but if it's a general markdown of the whole store, then that's just a general sale which you would be silly to not take advantage of.
Speaking to the dollar-a-minute idea, I keep telling my hubby that I need to improve my bead-making speed before I improve my bead-making quality. I think my beads are "good enough" to make a few sales, but even the spacers take me five minutes to make, each. No one in their right mind would buy a single, 8mm spacer for five bucks!
So, how do you price your beads when you take a long time to make them?
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Aimee Moisa
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2011-09-27, 3:47pm
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Senior Member
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Join Date: Oct 08, 2010
Posts: 855
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Aimee, it takes me a bit to form a good spacer too, the cg beadroller has helped as far as making several in the same size.
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2011-09-27, 4:04pm
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Lampworkaholic!
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Join Date: Apr 22, 2008
Location: Cornelius, NC - because weather
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I've been doing "volume discounts." I keep my price per focal at $20 or $25 and then offer 3 for $50 or 3 for $65. It helps me move inventory, which is a great excuse to make more beads.
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2011-09-28, 4:26am
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Glass-aholic
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Join Date: Mar 21, 2007
Location: CT, tolland CT
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I like doing 3 for $ too. It's also an easy way to promote sales on the fly based on the show or if you see intrest but people need the extra push to buy. It has worked well for me at many shows. I have also offered people 5 or $10 off when they spend xyz. But not really have any signage for it. What I find is a great way to get return customers is to give 5-10 off large orders and tell them as I total them up (explaining to them that they were such a good customer....blah blah). It's like a bonus they think is just for them, but for everyone. I made a whole bowl of small hearts once that I gave away one with ever sale too. You could not buy them. That was pretty cool. Some people really liked it, it did nothing for other customers.
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Minor 10lpm Oxy-Con + HH on Propylene . . . . . .
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WASHERS & TOPPERS - layering components for interchangeable glass topper and to use in other jewelry/metalwork.:
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2011-09-28, 6:02am
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Lampworkaholic!
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Join Date: Apr 22, 2008
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One of my friends has an "orphan" bowl and let's customers pick a "free" bead with every purchase. Might be good for extra spacers and random "experimental" beads (although I usually send mine to BOC).
I tried "2 free spacers with focal purchase" and it didn't really increase sales although the customers did like the extra beads. It was just more trouble than it was worth, especially keeping up enough loose matching spacers ...
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2011-09-28, 12:30pm
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Senior Member
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Join Date: Jul 16, 2005
Location: Jackson, MI
Posts: 396
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Laura,
I don't visibly mark my prices down (as in changing the price tags). I just mark prices that are lower than they used to be. Those are my selling prices now. Anyone that buys my beads instead of Unicorne Beads or other inexpensive imported lampwork seems to appreciate that the prices are reasonable. The only time I bring up my lowered prices is when designers or beadstore owners ask if I give a wholesale discount for my beads. I used to, but now everything is at what my maximum wholesale discounted price was in 2006. If someone buys hundreds of dollars worth of beads, I give them some free beads.
Anita
www.nitabeads.com
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