Replies

1. 
   JeffHeath | Mar 22, 2008 11:21pm | #1

   Jack

   A picture is worth a thousand words, and even more money.  It's impossible to arbitrarily value a piece of furniture especially a period reproduction, based on a drawing.  If your execution, joinery, and finish are spot on, then the final price of the piece will reflect that.  I have made pieces I've sold for $3000.00, and I have made pieces I've sold for $15,000.00.

   Show us!

   Jeff

   
   

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   Edited 3/22/2008 4:22 pm ET by JeffHeath

1. 
   user-172496 | Mar 23, 2008 04:20am | #3

   Hello JeffHeath !!  Like I said I am still working on it, when I have finished the project I will sure as h*ll get back to you.

   Jack

2. 
   flairwoodworks | Mar 23, 2008 03:31am | #2

   Jack,

   As a general rule, for simpler projects, I multiply the cost of materials by three to get and estimate for the final price.  However, the table isn't simple with delicate inlays, curves, and such.  Also you have invested some serious change in special tools.  Figure out how much the tools you bought will be used once the project is done and factor that into the cost.

   Now, bear in mind that what you should charge is much different from what you could get.  It depends on how you price it and who your market is.  If you ask top dollar for your work, you'll limit your market but also empasize the quality of your work.  If you price it low, you'll probably sell it quicker but one might question why it's so cheap and suspect quality.  Food for thought.

   Chris @ flairwoodworks

    - Success is not the key to happines.  Happiness is the key to success.  If you love what you are doing, you will be successful. - Albert Schweitzer

3. 
   JMadson | Mar 23, 2008 05:54am | #4

   I have sunk over $ 600.00 in it including special tools

   Just make sure you don't count the cost of tools in your calculations.

   These are overhead, not direct costs - even if you bought it just for this project.

    

1. 
   SteveSchoene | Mar 23, 2008 01:56pm | #5

   You still have to be paid for the overhead.  The depreciation on all your tools is a part of the costs, and special tools that are unlikely to find another use in the clearly foreseeable future should be completely depreciated immediately. 

   However, costs are only one part of the equation.  Knowing your costs, including paying yourself a wage, tells you the minimum price you would sell the product for, not the actual sales price.  The idea is to make a profit, in addition to the wage and the expenses. 

   Apparently the table was built on speculation.  If you can't find the buyer you may end up taking a loss.  You should be compensated for that risk.  Strangely, sometimes an item will find a buyer faster at $6,000 than at $3,000.