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Old 06-15-2017, 03:24 PM   #1 (permalink)
 
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Default Please share "How to price my pens" threads

Okay, we see them at least once a week. I propose that this thread be a collection of links to good, meaningful and substantial threads that explain:

"HOW DO I PRICE MY PENS"
"WHAT SHOULD I CHARGE FOR MY PENS"
"HOW MUCH SHOULD I ASK FOR MY PENS"


Rather than someone getting mad and telling the member to do a search, let's make this thread a repository for the best, most helpful and comprehensive answers to those dreaded questions.

Here's a recent example with some good info:

Pricing Pens

We all sought out this same info ourselves. So please share your favorite pricing threads and maybe we can put this thread in a starter pack for new members.
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Old 06-15-2017, 04:01 PM   #2 (permalink)
 
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My favorite line I use when they complain about the price. I tell them I just doubled the price and gave them 50% off . Talk about a deal they can't pass up!!
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Old 06-15-2017, 04:32 PM   #3 (permalink)
 
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I don't talk about pricing on any forums that non-members can access.
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Old 06-15-2017, 05:16 PM   #4 (permalink)
 
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I just did a search for "pricing" and came up with 2,323 hits. Might take a while to go through them.
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Old 06-15-2017, 05:45 PM   #5 (permalink)
 
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This is a tough one to answer. I'll just say don't forget to add the cost of your overhead into the mix. ie. electric, gas, consumables. AND NEVER forget profit is not a dirty word
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Old 06-15-2017, 06:02 PM   #6 (permalink)
 
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I know that the experienced craftsman on this site understand the reality of what is involved in turning pen making into a profitable business. I just did a quick search on Ebay for "hand crafted pen" and received over 1800 hits. I would be very surprised if even 100 of them actually sell. Then taking into consideration more competition from private web sites, Etsy, craft shows, overseas vendors, selling that one-of-a-kind hand crafted masterpiece is facing daunting odds. I have been crafting pens for over ten years and I am still learning. I am afraid that some new members make a few pens and then decide this is easy. They plan on selling a few pens, retire early and move to Bermuda. The reality is that it takes time (years) to perfect your techniques and then more time to build a reputation. There are not a lot of people willing to shell out $50 or more for a pen when they can run down to Walmart and purchase a package of Bics for a few dollars. My advice is just maintain this journey as a hobby. Maybe down the road you will build the reputation and craftsmanship required to move up to another level. There are many extremely talented craftsmen on this site who make beautiful pens. There are no shortcuts in reaching this status. Someday I hope members will consider me one of them but I know I am not there yet. I'm not trying to ruin anyone's parade. Quite the opposite....just a little reality check.

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Old 06-15-2017, 06:24 PM   #7 (permalink)
 
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This discussion reminds me of when I was selling real estate in California in the 1970s. At that time and no doubt still, it was illegal to discuss real estate commission between different Realtors. It was a violation of the anti price fixing law. I don't know if that law extends to the selling of handcrafted pens, but even if it doesn't, the same method of using the present media to determine what other people are charging for their pens and deciding if one can realistically sell a pen for that price should answer each individual's question regarding the price to charge for their product.
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Old 06-15-2017, 06:28 PM   #8 (permalink)
 
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Lest we forget, George established his pen company several years ago. Take a look at what you will be competing with here:

Arizona Pens
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Old 06-15-2017, 08:15 PM   #9 (permalink)
 
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I want to get some more people involved in contributing links to threads.

Starting a new thread in the Marketing forum.

Remember, the focus is on gathering good information to share with new (and existing) members. I'm hoping that arming people with information up front will help them get up to speed.
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Old 06-15-2017, 08:22 PM   #10 (permalink)
 
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Here's the new pricing thread, in a forum that is protected:

http://www.penturners.org/forum/f22/...8/#post1928044
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