Looking for a ballpark pricing guide

[Skie_M]

Been making pens for a few months, and been wondering what I should price them at.

I am starting to think that $80 is a tad high for a Deer Hunter pen from PSI turned from Deer Antler....


What kinds of PSI pen kits are you guys turning, with what materials, and what do you usually price them around?

 

[Monty]

I am starting to think that $80 is a tad high for a Deer Hunter pen from PSI turned from Deer Antler....

Not necessarily. I sold numerous Deer Hunter in antler and snakeskin for that price last year.
What you will be able to sell your pens for depends on your venue and location.

 

[terry q]

A lot depends on how good a salesman you are. You can always make a deal. Don't forget there is always that a_hole who says it's too expensive and they can get it cheaper at Wal-Mart. That's the jerk you need to show the special pen you keep under the table for the discerning customer who recognizes quality and sell it for $20 more.

 

[Skie_M]

I'm pretty sure they can get a lot of cheap crap at walmart.... but was it hand made?


Most of my pens are in a shop being sold by consignment, but they're asking 35% of the selling price, so a lot of my prices are getting bumped up uncomfortably high in order for me to still make ANY profit.

For instance ... I make a very nice hot pink aquapearl Breast Cancer Awareness pen from PSI. The cost of the entire pen + blank + pink felt pouch is around 19 dollars. I sell them direct for 40, and use the proceeds to buy two pens, usually. If I sell it by consignment, the price I set is 45 dollars, and I end up getting 30 of that back, so I'ld need to have them sell 2 pens to make 3 more. Am I just underpricing my pens, or are these overpriced?

(I don't plan to actually make ANY profit from these pens. After I get up to 10 BCA pens in stock, all proceeds will go to benefit breast cancer awareness, unless I need to replace equipment needed to make them.)

 

[JimB]

In my opinion your prices are low. I don't make that particular pen but from what you describe I would be selling for minimum of $75 direct or through consignment.

 

[Skie_M]

I make a funline in economy gold with maple, walnut, oak, or cherry and charge 15 - 20 dollars.

I make a slimline in gold or satin with the same woods and charge 20 - 30 dollars.

I make a comfort pen in gold or satin with exotic woods and charge 30 - 40 dollars, adding stone inlay is an extra 15 dollars.

I make the BCA pen in rose gold or chrome (not a fan of gold with white stones) using hot pink crush or pink aquapearl and charge 40 dollars.

I make the Deer Hunter pen in antique brass with real deer antler and charge 80 dollars.

I make the 30-cal bolt action bullet pen in various materials and charge 40 dollars (+20 dollars for deer antler or stone inlay)


I haven't really made a lot of other pen styles yet, still building my collection of bushings
and bits .... only got my lathe this past April, turned my first pen in June.

I just got and turned a sketch pen/pencil combo set as well as my first fountain pen (Olympian). It turned out just gorgeous in deer antler. I've no idea what I wanna sell the fountain pen for ... thinking 60 - 80. The Sketch pen is going for 20 dollars (at cost) because it's my sister's. I figure I'ld offer a similar pen with the same pencil refills (1 pack graphite, 1 pack color) for 60 dollars.

If you check out my photos, you can see some of my first pens.

I'll post pics of my sister's new sketch pen and my deer antler fountain pen tomorrow.


In any case .... still looking for advice on my pen prices .... am I too high? Do you still think I'm too low?

The place that's selling my pens by consignment thinks my prices are WAY too high. Of course, if the didn't wanna add a 35% consignment fee, I think it would be a tad bit lower....

 

[Edgar]

I don't sell pens, so I can't offer any personal advice, but you might want to check out this thread from a couple of months ago - it has several links to info that might be helpful:
how-to-price-my-pens-ultimate-link-collection

 

[Ted iin Michigan]

Gregory - we discuss this topic a lot here and you will certainly get a lot of answers (I think). My input is there are about a gazillion variables so it's really tough to suggest even a ballpark price. Things like the economy in your area, the venue you are selling at and even your level of craftsmanship and whether you are an established maker or someone newer will have bearing on the appropriate selling price.

For me, my level of craftsmanship, my location (mid-Michigan), etc, etc - I'm thinking that $80 is a bit steep. At the right venue (say an "outdoorsy deer hunting show") a decent pen of that type might garner $60 at the high end around here.

I don't do a lot of shows - between 4 and 6 a year. I sell pens and other turned items (pepper mills, etc). Typically my pen buyers go for the PSI Vertex, the PSI Big Ben Click, the CSUSA Clicker, the CSUSA Aero click and a few others. I do both wood and acrylics plus a smattering of other materials (Tru-Stone was a favorite before it got PRICEY).

I do offer hand made pen boxes as a lot of pens are bought as gifts. They sell ok and I often use the box as a deal clincher.

Hope this helps.

 

[Chasper]

You are asking for pricing information on an forum that is open to viewing by non-members. I know the forum name is Market Research and questions about pricing are a type of marketing research, but it is an forum that is open to view by all. I am willing to discuss pricing, but not on an open forum.

 

[monophoto]

I found this wisdom on the English pen turner's site:

Materials cost plus time plus overheads plus profit = trade price x 2 = retail. Anything less than trade price and you are making a loss.

 

[Skie_M]

I found this wisdom on the English pen turner's site:

Materials cost plus time plus overheads plus profit = trade price x 2 = retail. Anything less than trade price and you are making a loss.

Alright .... so using a formula like that for the BCA pens would be something like:

$19.00 for pen parts + materials (blank, pink felt pouch)
1.5 hours of my time (at say $10.00 per hour)
plus costs of gearing up/getting started (bushings, acrylic drill bits, around $40.00 - but split this cost between multiple pens, so we'll call this 1 dollar)

So my trade price should be around 35 dollars to start with... which makes the retail selling price somewhere in the 60 - 80 dollar range, depending on how much I value my time in making the pens.

If I can make them much more quickly (say a half hour), then by that point I should also be charging more for my time, yes?


I do understand that this is a public forum, but I've never hidden my prices or the reasons why I set a certain price.


The deer antler pens have such a massive price on them because it's very difficult for me to get any antler right now. I'm having to practically give away a finished pen (40 - 60 dollar value) in exchange for the antlers. Ideally, if I can get a nice stable supply of antler, I'ld be very happy lowering the price down to 50 - 60 dollars.