Replies

1. 
   DonStephan | Mar 10, 2011 07:52pm | #1

   Min $30/hr labor to cover insurance, rent/mortgage on workshop, utilities, wages and labor taxes, tool & equipment repair/replacement, and so on.

2. 
   lignumvitae | Mar 10, 2011 08:35pm | #2

   $30 is les than the minimum

   Your working in the basement at home so all your expenses are covered.  You do this for fun and your time is spent doing something you love.  I make assumptions.  What's your time worth?

   I do exactly what you do and get the same comments all the time.  I do not want to sell my art as for me it tarnishes the real value.  BUT, I have thought a lot about what would be a fair price for some of my work.  I mostly craft small case work and jewlery/treasure boxes from highly figured wood; not cheap material.  I currently have about $800 invested in a small project for my daughter and son-in-law to be as a wedding gift.

   I see well done boxes of the type I do in high end gift shops.  They generally sell for $300-$600.  They are probably there on consignment for a fee of 30-40%.  The box builder doesn't get much but he is probably doing production runs of the same piece in the range of 5-20 units at a time.  He earns every penny he gets.

   One of kind pieces are in a different league.  If we had really famous cabinete maker names we might be able to command any price.  Folks that buy wood art buy with their hearts, not their heads, and love the famous signature in their collection.

   A small business contractor (custom remodeling) I know gets $100 per hour, plus materials of course, to cover all business expenses and his wage.  He does well but keeps his overhead very low.  He is a craftsman.  To craft our work takes a lot of knowledge accumulated over time plus the machines, space, utilities, and a probably early death from the dust we can't see.

   I think my woodworking time is worth $100 per hour plus materials.  However I probably spend between 20 and 50 hours to finish a box (I intentially do not keep track of my time because it would take all the fun out of it).  I could NEVER expect to be paid $3,000 for a box and arguably no one would pay that.

   If I did production runs of 20 of the same piece, set up all to machines and jigs to run all the components at the same time and applied the finish to all of them at the same time I think I could get the time down to 5 hours each for very nice but not too complicated pieces.  That would be boring and not very creative except for the first prototype unit.

   Only commodities have a fixed price so you are free to ask anything you think is right.  But everything we buy, even with our hearts, has a price point.

   So the answer to your question depends. 

3. 
   AutumnWoods | Mar 11, 2011 09:51am | #3

   easy calculation

   Just look at what I'm charging and then ask for about 20% more.  :-)  Basically you have to figure out what your time is worth and make sure your getting that after expenses.  Don't work for nothing.  Look at what other items are priced at similar to what you're selling and start there, but be prepared that you may have to come in less than them to get the sale or produce a product that is clearly superior.  If your work isn't commanding the prices you would like, sometimes there's a reason for that and its time to look at improving the craft.  Sometimes a small bit of inlay or a slightly better proportion or a slightly more expensive wood can make a big difference in the sellability of an item.

4. 
   mrhughes | Mar 11, 2011 01:13pm | #4

   Thanks for your advice and comments. Maybe someday I'll try to sell something...but still need to whiddle through all the projects that I have 1st (and that list keeps growing).

5. 
   cevanko | Mar 19, 2011 09:06pm | #5

   charge as much as it will sell for

   I have very little experience selling and making pieces for sale but am slowly putting my foot in the door. So take my two cents for what its worth.  I recommend researching for fine furniture pieces that are as close of a representation of your work. See what they are charging and use that as a guide. My first piece I sold was a curly redwood coffee table. I posted it online for 1300 and sold it in one week. Now that may be luck but to me it says that I could possibly have gotten more for it. To me it depends on the uniqueness of your work that can ultimately determine the price you can charge. If you make furniture that you could find anywhere, then be prepared to get little response for your items if you charge what you should. Many people tell you to charge a per hour rate plus material or other similar model. However it may take me half the time to build and finish a project as you or vice versa. I charge 50 per hour plus materials as a starting point to help guide my selling price. Materials can very greatly. I try to find cheap wood that has interesting qualities. This way I try not put my piece into a price range that I am not comfortable with. Ultimately you should charge as much as you can.

6. 
   Julimor | May 11, 2011 09:25am | #6

   Consignment Lesson

   I once read an article by a woman who owned a store and occasionally people brought things in for her to sell on consignment.  One day a man walks in with a black Italian leather jacket he bought while in Italy.  He said he paid around $150 for the jacket and was happy making $50-100 on it.  The store owner saw the jacket was finely made and told him it was worth much more.  He said he wanted a quick sale and they agreed the jacket would be priced at $300.

   The jacket sat in her storefront window for weeks without even a look of interest.  The man returned and asked what was wrong.  The price was a steal.  Why wasn't it generating any interest?

   She told him, "It's priced too low.  People think something is wrong with it."  She then suggested she take it out of the window for a couple of weeks.  Then she would put it back and price it at $1,200.  The day after she returned the jacket to the window it sold.

   If your pieces are art, it's not up to you to attach a value, it's up to the buyer.  Since you do this for enjoyment, earning an income is not a factor.  Price your work as high as you want and see what happens.  You can always come down later if you want to see at what level others value it.  But you never know who the next interested person might be, what they are looking for and how much they are willing to spend.  For some, the more it costs, the more they want to own it.

1. 
   BaronSeig | Jun 20, 2011 04:08am | #7

   Selling your old furniture for a new one..

   I always wanted to buy a new furniture that is modern and has a classy design but my problem is what will I do with my old furniture? Any suggestions where I can sell my old furniture?