Pricing pens...

[L33]

Apologies if this is a common question that pops up...but I have searched the forum for an answer and struggled to find one.

I been selling a few pens...mainly Slimlines, but also a few Scribe Pens from Axminster. The Slimlines I set at £15 for any wood...although I only use 6 or 7 standard woods for those. The Scribe Id sold for £20. However, Im no longer going to do the Scribe I think, as I'm not happy with the brass insert being too short...it concerns me. So I have tried the TM pens...Zeta and Epsilon first. Just made the Zeta today...really nice pen. Ive already had someone ask me if they could buy it...but I haven't a clue what the pens normally go for. I know it may not seem trivial, but lets say everyone sells them for £100 each...and I come along and sell them at £20 each. Ive seen a similar effect on eBay with a keyring I used to sell, where someone sold them for £1 and everyone sold them for £3 to £4. Everyone started buying the £1 ones (at no profit to the seller)...and the people who sold the £3+ ones stopped listing them on ebay as nobody was buying them. Eventually, the £1 seller stopped selling them as they were selling at zero profit and only sold them to get feedback, I think. The £3+ sellers came back but nobody was buying them as they were expecting them to be priced at £1 like before. So basically, the keyrings were selling fine at £3+, until someone came along and sold them for next to nothing...and completely ruined it for everyone!

Im sure there is a technical term for the above, and being wary of that, I thought id try and price mine at the going rate...however, Ive searched everywhere and can't find sellers of the TM Zeta so I'm not sure what the going rate is. Thought where better to ask...thank on here :)

Cheers.

 

[webby962]

Market forces mate. Sell them for what you think they are worth. If people pay what you want, and you are happy and they are happy, that is the price you sell at :-) If they dont sell, then they are not worth the price you are asking, or people just dont want your pens. Either sell them else where or lower your price. I dont think there is a 'right' price, only what is right for you and your market at the time. Not sure this has helped! Sorry

Adie

 

[Buckeye]

What you sell them for is your choice and maybe down to market conditions in your area. I don't do craft fairs and sell only by word of mouth from people who bought from me or have been given a present of one of my pens. I sell streamlines, I don't sell slimlines, for £20 - £30 depending on the blank used, for the higher end prices I use burrs or my home made acrylic blanks, for the lower end prices I use fairly straightforward blanks like laburnum, walnut and mahogany, I never use beech.

I will not discount prices unless they are buying 5 or more pens at the same time. If I don't sell any pens then that's the way it is, I will not devalue the work that I have put into making them by selling them at silly prices. I give a lifetime guarantee, not on the plating, and so far have not had anything to worry about.

I like to use burrs and my own acrylics, but I want a premium for them I don't and won't use very plain woods like beech as I can't charge a premium and it takes just as much work to make. You have to factor in all the costs including a replacement kit if there is a problem with it later on.

For me it isn't just a case of costs + profit. If I am selling something I have made then I want to earn at least £10.00 per hour, that is how much I pay my cleaning lady so why should I get less that that, the costs get added to that and then I want to make a profit on top of the costs so I don't sell any pen cheaply. I do give my best customers a pen now and again without charge, but they do buy frequently from me.

If you sell cheap your pens will be perceived the same way, start as you mean to go on. If you can only sell at very low prices you have to think of someway to raise the perceived value of your pens, maybe only selling very plain pens for a lower price and have a premium range with better blanks or guarantees.

Peter

 

[Penpal]

Determine accurately your true cost of production, then at least double that. As a guide it seems to work for many makers. Those who onsell through shops etc get but half of the shop price it seems.

This does not apply to the cheap kits obviously since a Streamline would only sell for very little on the above basis. Since there are so many variables speak to the members further re their pricing. My suggestions were only to ensure you are not going out backwards.

Peter.

 

[chas_41_uk]

It really depends on market forces in your area. Also the wood or acrylic you are using. I sell streamlines at between £15 and £20, Zetas £25 - £30, Epsilons £25 (ish)

 

[L33]

Sounds like I'm not a million miles away then with pricing etc. I don't have a wide selection of pens for sale yet but I feel it's important to get things right at the beginning. :)