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Dolla Dolla Bills, Y’All

5 February 2010

{ Bottom Line Original Oil Painting, BlueBond }

{ Bottom Line Original Oil Painting, BlueBond }

Sooooo one of my biggest fears/apprehensions/anxieties is pricing my items.  I know there’s certainly excitement surrounding open a new (and first!) shop, but I think at the moment my excitement is highly overshadowed and dampered by my fear of not selling anything, of not offering items that people will want to buy – or even want to buy them, but not at the price at which I list them.

Do any of you have any tricks for determining your prices?  I know there’s a LOT to consider, such as:

{} how much it costs you to purchase the materials

{} how much time it takes you to:

   {{}} actually create your item

   {{}} photograph your item

   {{}} list your item

   {{}} package and mail out your item

{} how much value you place on your item

{} how much your competitors are selling similar items for

{} how much demand there is for your item

{} how much people are willing to pay for your item

…. and it’s all too much!  Too much to “consider”!  I just can’t take it!

I know there are some handy formulas out there for determining the price of jewelry, but I’m not into that.  I want to make a good decision for me based on the factors above.  I don’t think a formula will take into consideration what I’d like to consider.

Soo the dilemma continues.  Do you fear your items are overpriced or do you post with confidence?

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