I need help pricing a set...

[MesquiteMan]

I could really use your help. I number of months ago I posted this pic...

It is a His and Hers set of Prickly Pear Cactus Statesman/Jr. Statesman FP in a mesquite display case. I donated these pens to a local charity auction and they sold for $1,000. Anyway, the wife of the runner-up in the bidding war for it commissioned me to make another set basically identical to this one for her husband for Christmas. She said she didn't even care about cost and knew that I would be fair with her.

Well, I now have the set done and really am not sure what to sell it all for. I know what I want to get for the pens but have no idea what to add for the case. It is completely hand made from local mesquite that I harvested and milled on my sawmill. It is 7" x 10" x 7" tall with a black velvet bottom. The entire top structure lifts off the base to allow access to the pens. It is all mortised together with grooves cut for the glass to fit into. No mechanical fasteners were used.

How much would you charge for the case? What about the whole thing? Remember, I want to be fair and don't need to make a killing but at the same time, I want to make good money for the time I spent on it all.

 

[Nolan]

That is really nice work[] I wouldnt even venture to guess on a price without knowing the time and material cost involved in making it. Sorry couldnt be a help but just had to comment on how nice it looks.
Nolan

 

[KC]

Being in the mesquite biz myself, I feel your pain regarding the pricing. I think you certainly oughat get a couple hundred dollars for the case... especially for a special order.

KC

 

[Gary Max]

I would explain to her how they first buyer got a bargain price at the auction. That this set was made for her and they are very hard to come by. Them I would match the auction price just for her.
There is no reason for this set to cost any less than the first one.
Merry Christmas

 

[vick]

I think Gary's logic is flawed if she was not willing to pay $1000 at the charity auction she probably won't do it as a private sale.
I say $600 tell her $400 for the pen set and $200 for the case.

 

[Tea Clipper]

You know, that's hard to say because the price paid at auction was not to directly buy the set, but to give money to the charity. Either the winner got a deal or they gave generously, but a private sale should not be priced based on an auction. I know I'm not helping the situation, but to be fair you must charge her the going rate you would charge anyone off the street.

 

[jaywood1207]

As a general rule of thumb I take my material cost and triple it for all of my flatwork but there are some cases where it can go up and down depending on the complexity of the project and work involved. That is something you have to decide.

 

[jeffj13]

Curtis,

Typically in a charity acution, the donator provides the retail price of the item donated, since the high bidder can only take a tax deduction on the amount paid over and above the retail value of the item.

What value did you provide? That is what I would sell the pens and box for.

jeff

 

[ctEaglesc]

Take a look at Levengers ot Farneys.
See what nicley made display cases cost.
I would have a brass Plaque engraved with "handmade by..." and install it is an inconspicuous location.Maybe on the lower base.
It is important to have it engraved rather than Lzered.It will add a touch of classs and look good on the piece.
You know what your time is worth and what it would cost to buy a similar case.
The most important thing is dosn't spend the customers money based on your wallet.
This one is at levengers for $74.00 described with solid wood but not the spieces. I am sure your finish is much better than this on it looks like an offshore box.

Your display doesn't hold as many pens it is designed to showcase your work.
I would quote $200.00 for the case and if they balk you can invite them to locate their own and hold fast to the price you quote for both the pens and the case.
You also might consider numbering the cases you make and point out this one is #2.
Sell the sizzel not the steak.

 

[Monty]

Don't know what you sell the seperate pens for, but that cost plus at least $100 for the case. Or if you know what her last bid was..........

 

[Tangboy5000]

I would say $1200, and not even talk about the auction.

 

[DCBluesman]

This is the problem with not pricing things up front. Had you told her $1000 up front, you had room to negotiate. At this point you are trying to guess her pain point and stay somewhere below that. I have no idea what goes into making a box like that, but it is important to note that a quick review of Levengers and other stores catering to a similar audience sell very nice boxes in the $100 range. The pens? Well, you know what you have sold these for. $150? $200? $300 each? Probably somewhere in that range. You cannot use the auction price as being representative. I've had pens that you can buy on my site for $150 be auctioned off for as much as $1000. Of course, that was a ballroom full of doctors who were going to contribute at least that much at the event. I'm thinking $500.

 

[Pen Man]

I will bid $400.00 and you throw in a dozen of the blanks! [8D] Plus shipping []

 

[MesquiteMan]

Thanks everyone for the suggestions and comments. A couple of points...

Jaywood...If I price it 3x materials, then 3x$0 is $0! I have a sawmill and milled all the wood myself. The glass is is from a broken window pane that I cut to size myself. The only cost is the velvet! Yeh, I know, milling the lumber is not free due to the cost of the mill etc but I am not interested in gettting into that.

Also, I intentionally did not give all the info in my original post becase I really wanted to see what people had to say without any pricing bias. She called and told me to make them. We did not discuss cost or anything, just that she wanted them. I decided to have her come to my office before I started them so she could see a clear with black instead of the black that I made for the auction. When she was there I told her that we never discussed price and that she was awefuly brave giving me a blank check! We both laughed and I told her not to worry that I would be fair with her and that they would be somewhere between $600-700, depending on how much time I had in the case. I really did not want to build another case since this one is a real pain to build but I agreed anyway and it is all done and ready to deliver.

The case is definately going to be numbered and signed on the bottom. I don't think I am going to have time to have any type of brass piece made, though.

 

[DocStram]

It all depends how much of a capitalist you are.