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Old 08-15-2013, 10:04 AM   #11 (permalink)
 
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I know that many say that you should price your pens for the audience you are selling to. Therefore if you think the acrylic pen turned out just as nice as your labor-intensive CA finished wood pen, then it should be priced the same.

For me, I first figure out what the minimum price I could sell a pen for and still feel good about the sale. Typically that will start with my out-of-pocket costs for the components, blank, upgraded refill, complementary case, etc. I will then add about $25 to $50 for my time, depending on difficulty of turning, one tube or two, CA finish or not, etc. Lately, I've also started adding an extra $5 to cover the extra costs involved with obtaining blanks or components for a commissioned pen. My existing stock of components and blanks were mostly purchased on sale with shipping costs spread among many items. If someone commissions a pen where I don't have the needed material in stock, it costs me more. Since a significant amount of my meager business is commissioned work, I find I needed to adjust my base prices to account for this.

This calculated minimum selling price I call my "wholesale" price. I will then add on approximately 25% markup to get a rough "retail price". I will adjust the amount of this markup depending on what I feel the pen will sell for in my market. Slimlines get marked up less, high end rollerballs or fountain pens get marked up more.

By having a wholesale and retail price for each pen, I know how much I can comfortably discount a pen from the retail price and still feel good about the sale. I will give a discount if a person buys multiple pens from me.
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Old 08-15-2013, 10:07 AM   #12 (permalink)
 
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I appreciate all the ideas, keep 'em coming.
Thanx!!
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Old 08-15-2013, 12:54 PM   #13 (permalink)
 
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I also do this for a hobby. Pen turning is the first hobby I have ever had that literally pays for itself. Fishing and golfing were two that really cost me a lot of money. However, if I am going to sell anything I own I am going to make money. I take that same approach with my pens. I am not out to make my living just enough to cover my cost and get a little extra. I have basically the same approach as mentioned earlier, I double my cost; including kit, blank, finishing, consumables, then add 10$ per tube, this I feel covers my labor. This gets me a little money in my play fund so wifey doesn't flip out when I buy more goodies for the garage.

Last edited by preacherman; 08-15-2013 at 01:11 PM.
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