Yup Wayne.. since I was spending nothing for cobs, I decided to sell the cigar cob pens for $35.. considering $2.95 for a kit that was a nice profit... did not move them...
Raised the price to $50-60 depending on plating and how pretty the cob was and could not keep them in stock...
All of my antler pens start at $60 in TN Gold and go up from there.. .of course they are all DT Euro, PF, and Cigars... will probably do a couple of Barons and they will start at $70 in chrome and go up from there..
I discusse this phenomena with a friend who is the director of marketing for a company in NY... he told me it comes down to "Perception of Value"... pure and simple it means if you price to low, the customer thinks they are getting junk.. raise the price, the junk just got gold plated...
Right now my Atlas pens are $40/up, DT Euro, PF and Cigars $50/up, Barons and Jr Gents $70/up, I am going to do a couple of the new Elegant Americans and they will probably be priced at $40 in chrome..
As I was typing this, I just got a phone call from a customer (word of mouth from another customer)... ordered a Black TN Baron in Cocobolo.. sounds nice... I told him $105 including Insured Priority Mail .. No Problem... now I have to go out and make the sucker... But I ain't complaining.... Hell I have the wood from Bill and the kit was $10... shipping will be about $5.00, should only take me under an hour to drill, glue and turn, Barons are simple... I don't mind working for around $90/hr. But I have learned that customers expect to pay for "custom quality work"... DO NOT SELL YOURSELF SHORT... It is a lot easier to lower your prices if you are not selling than to raise them and have people complain that it was lower last week at the other show... IT WILL HAPPEN..
Also.. the pen order I just took would have been about $85-90 at my craft booth... but this is a "CUSTOM" pen.. the customer understands that this is not out of inventory, but being made expressly for him.... even though if I like the look, it may become an inventory item... but for a "CUSTOM" I will really go out of my way to hand pick the wood... It is little stuff... just the little extras that make it easier to get the bigger bucks for you work... and don't think the customer does not only expect it, but appreciate it...