My son sent me alot of yarn that he found at a yard sale. I am on disability and I needed projects to work on...so this has been keeping me busy. I hope to sell the sets for $10 at the market this summer.
$35 sounds much more reasonable; it's not a mass-produced, made-in-China item. It's one of a kind. Maybe don't target your friends and neighbors at the trailer park. The best person to ask is a designer who is selling similar crochet items. Best of luck, you're going to do well!
Thanks so much. It takes about 1 skein a set and about 5 hours. With that formula market price may be. $35. Does that sound reasonable? I hate to even charge for my work, our trailer park are all decked out with my slippers. And during the winter had hats and mittens.
If you Google a variation of "how to price your crochet goods" there are a lot of useful guidelines. Ex: IN CLOSING, HERE ARE SOME FORMULAS THAT HAVE WORKED IN THE PAST FOR FINDING A FAIR MARKET PRICE IN MY CRAFT ECONOMY.
Cost of Supplies + $10 per Hour Time Spent = Price A.
Cost of Supplies x 3 = Price B.
Price A + Price B divided by 2 (to get the average between these two prices) = Price C.
Compare Price C to your Market Research and adjust accordingly.
For example, it takes me 2 hours to spin $20 worth of fiber into yarn. $20 Fiber + $20 Time = $40 (Price A). $20 Fiber x 3 = $60 (Price B). $40 + $60 = $100. Divided by 2 = $50 (Price C)
$50 should be in the range of the fair market price for my item. If $50 is too high, I'm either spending too much on supplies or I may work slower than other crafters. If $50 is too low, I may work faster than other crafters, or I got a great deal on my supplies and should raise my price a bit to have a fair market price and support the othe
Maybe do more research as regards pricing? $10 seems too low for such lovely, laborious crochet booties and bib. Not enough to even cover the cost of yarn (it doesn't matter that you got it for free/ cheap).
Thanks for sharing your coments. I have slippers of all sizes (about 20 pairs) and 15 bib sets, plus a couple of throws. I don't really know what is too much to charge for any of them. I know you will never make enough to cover your time.
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8 Comments
Angélique
• Toronto
Angélique
• Toronto
Angélique
• Toronto
Angélique
• Toronto
Debbie F
Angélique
• Toronto
Cost of Supplies + $10 per Hour Time Spent = Price A.
Cost of Supplies x 3 = Price B.
Price A + Price B divided by 2 (to get the average between these two prices) = Price C.
Compare Price C to your Market Research and adjust accordingly.
For example, it takes me 2 hours to spin $20 worth of fiber into yarn. $20 Fiber + $20 Time = $40 (Price A). $20 Fiber x 3 = $60 (Price B). $40 + $60 = $100. Divided by 2 = $50 (Price C)
$50 should be in the range of the fair market price for my item. If $50 is too high, I'm either spending too much on supplies or I may work slower than other crafters. If $50 is too low, I may work faster than other crafters, or I got a great deal on my supplies and should raise my price a bit to have a fair market price and support the othe
Angélique
• Toronto
Debbie F