I've decided to up my prices on my original ACEOs to what they are worth, well or at least more that what I was offering previously. I spend more than 5 hours illustrating each card, sometimes days on end getting the sketch right and not counting my materials and ideas they are easily worth $80 each. But of course I can't bring myself to increase that drastically for now, so a small step first. Hate earning 20 cents an hour, and much more without sales it goes to show low prices doesn't necessary mean more sales!
Even the minimum wage here in Singapore is S$3.50, that is US$2.59. It's not a hobby anymore (started as one though!). That is all. I encourage any crafters or artists who are seriously underselling their works to consider pricing in your time, materials, skill and time to market it. Oh and the fees (Paypal, ebay, etsy etc).. Don't lose money on selling ;)
Definately do it as I have seen ACEOs on sale for $50 on etsy and they actually sell. Mine are only $6 and I've only ever sold one so maybe thats where we are going wrong.
ReplyDeleteI have inactivated everything in my shop to redo my tags and description so I may consider this when activating everything :).
Groovey: True! Properly priced ACEOs do sell. My low prices were largely credited to ebay, the infamous 99cents starting bid, though mine was 4.99 onwards. I sell according to market rates on ebay and now I see it's because ebay is like a thriftstore for bargains, unless you're really famous, people will be there to pay for as little as they can (guilty as charged lol) =) You should increase your prices too, $6 probably covers your materials & fees only!
ReplyDeleteI absolutely agree. Some people really underprice themselves!
ReplyDeletei sold an aceo for $10 plus $2 postage = $12 - that's £6. postage cost me £2 - so I made £4! that's $2!
ReplyDeletenot exactly a good profit margin!
the exchange rate sucks for me selling - great for buying!
Link going onto my blog right now!
also .... Spirited Away? one of my favourite films too. Did you see Howels Moving Castle? done by the same guy? not as good as Spirited .... but still that same strange feel to the movie.
I guess I need to start thinking of my stuff as original art as I've seen that selling for quite a bit but any prints going for a lot less. Its really finding the market for our items.
ReplyDeleteI guess I need to start thinking of my stuff as original art as I've seen that selling for quite a bit but any prints going for a lot less. Its really finding the market for our items.
ReplyDeleteI'm glad that I read this post...You are so right. I dropped my prices on my jewelry a month ago, and I regret it. My prices were so low already. I will be re-adjusting my prices so that I get compensated for all of my work properly.
ReplyDeleteBTW, I love "Spirited Away"! I really love "Howl's Moving Castle". Christian Bale does a great job as the voice of Howl.
Thanks again!