Author Topic: How much is it worth?  (Read 6708 times)

Offline Richard Findley

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Re: How much is it worth?
« Reply #15 on: January 04, 2015, 07:33:12 PM »
Many people say that the worth of a piece varies according to where you are selling it. They call it 'knowing your market' and in some ways I suppose that is a good thing and fair enough.
If I go to a 'posh' fair and buy your hollow form for £500 and then go to an ordinary fair 50 miles away and see you selling a copy of it for £250 should I feel a nit miffed ?

I wonder if this is why people get confused. If you make a product that is worth £500, it's worth £500 anywhere. What a turner needs to be able to do is make products for every pocket and know which locations suit which products better, rather than slashing the price of their prize turning, or bumping it up because a particular show is in a posh area.

Food for though....

Richard
See more of my work at www.turnersworkshop.co.uk
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Offline bodrighywood

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Re: How much is it worth?
« Reply #16 on: January 04, 2015, 07:53:21 PM »
Many people say that the worth of a piece varies according to where you are selling it. They call it 'knowing your market' and in some ways I suppose that is a good thing and fair enough.
If I go to a 'posh' fair and buy your hollow form for £500 and then go to an ordinary fair 50 miles away and see you selling a copy of it for £250 should I feel a nit miffed ?

I wonder if this is why people get confused. If you make a product that is worth £500, it's worth £500 anywhere. What a turner needs to be able to do is make products for every pocket and know which locations suit which products better, rather than slashing the price of their prize turning, or bumping it up because a particular show is in a posh area.

Food for though....

Richard


I agree totally Richard. I also have to be careful that the prices I charge for any given piece when at a show etc are the same as the prices on my web shop. Regarding selling similar things at different prices, higher end work, usually ornamental. are all sold as one of a kind pieces, the kind of wood I usually use for them makes it impossible to repeat a anyway. Once I get my head around what price I can charge for something I stick to it. Just getting the price right that I find hard LOL.

Pete
Turners don't make mistakes, they have design opportunities

Offline woodndesign

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Re: How much is it worth?
« Reply #17 on: January 04, 2015, 11:55:09 PM »
Many people say that the worth of a piece varies according to where you are selling it. They call it 'knowing your market' and in some ways I suppose that is a good thing and fair enough.
If I go to a 'posh' fair and buy your hollow form for £500 and then go to an ordinary fair 50 miles away and see you selling a copy of it for £250 should I feel a nit miffed ?

I wonder if this is why people get confused. If you make a product that is worth £500, it's worth £500 anywhere. What a turner needs to be able to do is make products for every pocket and know which locations suit which products better, rather than slashing the price of their prize turning, or bumping it up because a particular show is in a posh area.

Food for though....

Richard


Very wise words of a true Gentleman, Richard.  Like wise should any Turner supplying a Gallery, an they have a high price on your work, how fair would it be to personally sell an identical piece at an event for less, the Gallery wouldn't be pleased to find you under cutting your agreed price with them and depriving them of a sale .

Interesting for the question and the Pro answer .. 'Like most people here I don't like to discuss my own prices for things' ... Yet never like to see cheap prices.

Cheers  David
"It was the best of times, it was the worst of times,"  By Dickens ''''

Offline MCB

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Re: How much is it worth?
« Reply #18 on: January 05, 2015, 12:22:18 AM »

If you make a product that is worth £500, it's worth £500 anywhere.
Richard


I  think there's a difference between what something is  WORTH and the price at which it's being sold.

If a turner wants to receive £50 for an item, then a gallery owner will probably add a considerable on-cost to give him [or her] something for their costs plus profit. I  suspect that on-cost might be 50% so the gallery would  sell at £75.

Now, what's the item *worth*?

MC

andersonec

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Re: How much is it worth?
« Reply #19 on: January 05, 2015, 08:15:57 PM »

I wonder if this is why people get confused. If you make a product that is worth £500, it's worth £500 anywhere. What a turner needs to be able to do is make products for every pocket and know which locations suit which products better, rather than slashing the price of their prize turning, or bumping it up because a particular show is in a posh area.

Food for though....

Richard


Here here....As a non professional my thoughts would be that the price depends on various conditions such as quality of turning, quality of timber used, is it useful? is it purely for decoration? etc. etc. I don't think you can price an item depending on your venue, it should stay at the price originally decided on.
I have seen many turners at craft fairs with some abysmal offerings and they are always the same quick to do items, surely if you are going to ask a high price for your items then they have to warrant the price, so many times have I heard turners saying "I wont do those because they take too long"  ??? ??? ??? If it is going to be turned out quick and cheap then it should also be sold that way.
Although the main things I make are jewellery boxes, I do make turned boxes to compliment them plus some smaller items which are targeted at the ladies, I then have items to suit all pockets. The main thing I have noticed though is that the public are more eager to purchase an item if it has a use, so any turnings I do must be useful, boxes, pincushions, needle cases etc, purely decorative items are always the last to sell, especially if they are expensive, everything I make must have a use.
I do not think the venue has anything to do with pricing and/or sales volumes, I have sold jewellery boxes at Village fetes as well as Artists markets but not in a Gallery, if someone wants your stuff then they will buy it and the way to make them want it is to make it irresistible, most important of all is to talk to them and convince them they should have it, if someone comes to your stall then try and make them go away with at least one item, if they come for one then show them something else and try to make them go away with two items, talk talk talk to them and make them smile  :) I have seen guys sit at their stalls with a newspaper all day and not sell a single item, nothing to do with the venue...!!!

So to sum up,,If the item is perceived as a quality item with some potential of taking poll position in someones house and can be passed on as a heirloom then price it that way, not every one can afford it but then you have to wait for the person to come along who can.
If your item is easily turned out then do lots and price it to suit, you then have top of the range prices and lower end prices, everything in between will then slot in.


Andy
« Last Edit: January 05, 2015, 08:27:23 PM by andersonec »

Offline The Bowler Hatted Turner

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Re: How much is it worth?
« Reply #20 on: January 05, 2015, 10:07:53 PM »
Andy you have hit the nail on the head. My thoughts at craft fairs etc is that 2 of us are there and 1 of us will make a purchase...just that the customer does not know that yet!!!

andersonec

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Re: How much is it worth?
« Reply #21 on: January 06, 2015, 04:22:05 PM »
Andy you have hit the nail on the head. My thoughts at craft fairs etc is that 2 of us are there and 1 of us will make a purchase...just that the customer does not know that yet!!!

Exactly,, they didn't relise how much they wanted it until you told 'em so, then all about it's history, type of wood and how you came by it, how it was made, how wonderful it would look centre stage in their house and if they buy something else at the same time you would knock something off then they would be getting a once in a lifetime bargain  ;)

Andy


Offline The Bowler Hatted Turner

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Re: How much is it worth?
« Reply #22 on: January 06, 2015, 05:20:23 PM »
Glad you agree Andy.........now I have got this bowl that you might be interested in, very reasonably priced................ ;D ;D ;D