Apparently I'm Making The Wrong Things

[J T]

I saw this in a magazine. The ad claime it made with Ponderosa Pine, woodburned with a Welsh technique taught in the U.K., handpainted, and signed by the artist. The accessories are sold separately for $15 each.

From the picture I saw it looked more like it was silkscreened, rather than handpainted. I just wonder how many of them are selling at their price of $147 each ppd? Not many I'd be willing to bet. At least the banks I make actually are handpainted, but I'd be ashamed to ask prices like that. The large banks weren't selling well at $20 each, so they sure wouldn't sell at higher than that. But, on the other hand I've known idiots that figured only high priced things were rth buying - no matter what it was - I wonder if I'd get any takers at maybe $100. I use patterns, so it doesn't take long to actually assemble one (not counting the glue and paint drying times), the painting takes a litle time but is relaxing - I do NOT depend on woodworking for a living, I do it for fun and relaxation, any money I make from it is pure gravey.

JOAT My shop, my rules.

[Robatoy]

J T wrote: [snip]> But, on the other hand

I tried that theory. I made (many moons ago) chess boards from solid surface material (scrap to me) which were getting a lot of attention at a fundraiser for the local women's auxiliary at the hospital. A lot of deep pockets attended. I had made 14 of them, sold 2 at $75.00. Two weeks later, the son of a friend of mine sold the other 12 at an artshow/fundraiser for $129.00 each marked down from $179.00. I admit he's a lot cuter than I, but holy cow!

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[Lobby Dosser]

Heh! It was the Markdown that sold them. "Wow, I saved 50 bucks on this!"

[sweetsawdust]

It's called perceived value. I used to try to sell one of my toys for $11 retail, couldn't give them away. Raised the price to $22 and couldn't keep them in stock. The customer thinks that if it costs X number of dollars then it's worth x number of dollars. If it's marked down then it's a bargain. A few of my items are marked up to the obscene price range because the customer will pay it for them, I don't understand it but it works. Some items you can't get cost out of and others you can over price to death and still sell them.

> I saw this in a magazine. The ad claime it made with Ponderosa

[CW]

[boorite]

One time, some clearly psychotic man rolled up on me in the Borg parking lot trying to sell me one of these Uncle Sams he bandsawed by the score out of construction site cutoffs. He told me he sold tons of them at some ridiculous price and what a cinch it was, and pure profit, too. And here I am calling him crazy.

[Kiwanda]

I think it's more than a theory-- should check an econ textbook. The parents of a friend of mine own an optics business that sells materials for calibrating high-end instruments used in forensic research and the like. When they started the business 20 years ago they were underselling the competition by about a 90% margin because they invented a new process for making their product. The business almost failed; few customers would buy their product because they thought it was priced too low. They eventually raised their prices by a factor of about 8x and sales took off-- now they have 20 employees and could continue expanding if they wished.

-kiwanda

[J T]

Mon, Sep 4, 2006, 10:42am (EDT-3) [e-mail] (Robatoy) doth sayeth: I had made 14 of them, sold 2 at $75.00. Two weeks later, the son of a friend of mine sold the other 12 at an artshow/fundraiser for $129.00 each marked down from $179.00. I admit he's a lot cuter than I, but holy cow!

Well, auctions can get a bit crazy. I'm still not sure about asking that much for something I made and would consider vastly overpriced. But I could live with asking that much for a week or so, and "then" listing at a lower price and stating they were "marked down". I am ethical, but like to sell stuff too.

Listing something at $129, and claiming it was marked down from $179, now that is something I would NOT, and coule not, do. I know it's done, a lot, but it's something I just don't consider good Karma. Even for a charity event.

JOAT My shop, my rules.

[J T]

Tue, Sep 5, 2006, 5:22am (EDT+4) [e-mail] (Lobby=A0Dosser) doth sayeth: Heh! It was the Markdown that sold them. "Wow, I saved 50 bucks on this!"

Yeah, I hear that theory often, from sales people trying to sell me something. Usually something I don't want. I tell them I'll save even more by not buying it at all.

JOAT My shop, my rules.

[J T]

Tue, Sep 5, 2006, 12:30am (EDT-1) [e-mail] (sweetsawdust) doth adviseth: It's called perceived value. The customer thinks that if it costs X number of dollars then it's worth x number of dollars. If it's marked down then it's a bargain. Maybe your banks would be worth more if you charged more for them.

Yeah, I can understand that. Sill shows there's a lot of idiots with money and room temerature IQs.

I think I'll give it a shot, and double the price, plus a bit. Then if they start selling once in awhile, I'll have a "sale" and mark them down to maybe just double. I coud live with that. Thanks.

How does it go? Give the customer what they want. And, there's a sucker born every minute.

JOAT My shop, my rules.

[J T]

Tue, Sep 5, 2006, 5:49am (EDT+4) [e-mail] (CW) doth sayeth: A rather common marketing ploy. List a highly inflated price then mark it down. People think they are getting a deal.

Make you a good deal. I've got a hand made, hand painted, wooden bank, very unique. I was figuring on asking $250 for it, but for you I'll mark it down to $125. How many do you want?

JOAT My shop, my rules.

[maico]

Isn't really about what an item is 'worth' to the individual? Regardless of what your price is (initially) the individual must decide if the item is worth that price. He may have purchased an item for $150 and thought it was a deal whereas the same item sold elsewhere is $85.

[Edwin Pawlowski]

None for me. I'm waiting for you to put the $300 ones on sale.

[J T]

Wed, Sep 6, 2006, 3:28am (EDT+4) [e-mail] (Edwin=A0Pawlowski) doth make finalize the deal: None for me. I'm waiting for you to put the $300 ones on sale.

Tell ys what I'm gonna do. I'll do even btter than that. $600, no prob, but I'll even sign it (as the "artist" don'tcha know?), and marke it up to $750. Now I'll marke down to $200 - clearance sail price, so you can save $400, or make a savings of $550. Now how could you lose on a deal like that? Be sure to show this post to your wife. PayPal is acceptable.

JOAT I am not paranoid. I do not "think" people are after me. I "know" damn well they're after me.