2 Sep 2009

Pricing

The prices other Crafters, knitters in particular as it's 'my craft', offer their items for sale is non of my business of course
but I am amazed at the price that some beautifully knitted and constructed items are being offered for sale at, on MISI in particular but also on Etsy. I know we all look at our handiwork and then say something along the lines of, "How much do you think I should ask for this?" either to ones self or some poor person who is looking bewildered across the sitting room but a lot more thought needs to go into than that.
Work out the materials costs. If you purchased your yarns online then the postage you paid needs to be factored in too.
Add up the hours you spent creating the item. I keep a pad and pencil next to me and write down when I picked up my knitting and put it down again....it doesn't take long to adopt this habit.
I must say here that you will NEVER be able to get paid a decent amount of money per hour for your knitting as it simply makes the finished item well out of reach of most people...they'll go and buy 'cheaper' mass produced items instead but what it does tell you is how much time you have invested in the project and you can gain some of that time back in financial reward. Also bear in mind that if you knit a simple item say with not much shaping or patterning and it takes you three hours and then the next thing you knit is a complicated item with lots of seams to sew up etc then you can 'meet in the middle' of the two projects.
Next thing you need to consider is time spent taking photographs and writing descriptions.
Weighing the item and packaging and looking up the postage prices online.
Then you need to allow the, listing fee cost and percentage of commission that the website (MISI/ Etsy etc) will take, the percentage that PayPal will deduct in commission and fees and then see what you will be left with.
You should also factor in costs like your packaging, sellotape, staples, ink, labels, etc, etc, etc.
If you do all of this, I really y don't think I'll see another beautifully hand knitted babies hat or Child's handbag online again for a mere £2.50 to £4.50.
Come on people ...value your abilities and your Craftsmanship. If you don't, nobody else will.

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