Raising My Prices!

[Rangertrek]

I have been reviewing all the pen styles that I make and what I generally charge for them. At the same time I have been updating my spreadsheet with some current pen kit costs from the 4-5 suppliers I purchase from.

WOW, have the costs for kits been going up over the past few months. Some of the kits have gone from around $3 to over $6. Others have gone up over 20-30%. I expect this is from the increase in costs of precious metals. But, hard to figure a double in some kit costs.

I am now questioning whether I can up my prices accordingly. Not sure my market area will support those levels of cost increases.

So, CHECK your price structure. :question:

 

[David M]

price mine using current replacement cost + markup . hope the market holds up.

 

[OKLAHOMAN]

I raise my prices every year, as I only sell the Jr. series and up pens I'm raising them this year $25 across the board the pencil I sell is the sketcher and that I will not raise this year......

 

[ed4copies]

Why are kits going up?

Yes, plating, also commodities market (watch the cost of copper and aluminum), but also transportation. Shipping is rising and the prediction of $5 gasoline is making the manufacturers review their costs.

I'm in the same camp as Roy. If you sold your pens last year successfully, you can expect to raise prices and continue to sell successfully. The sale is made by the salesman, cost is secondary.

YMMV, but the statement IS true or jewelry would not exist. A shiny stone has no intrinsic worth, but DIAMONDS are a girl's best friend---so we pay extraordinary amounts of money to buy them.

SALESMANSHIP.

 

[Karin Voorhis]

I thought it was just me and was going crazy. I don't see things take such a huge ride is price over night. I am in the same thinking.

 

[76winger]

Why are kits going up?\

YMMV, but the statement IS true or jewelry would not exist. A shiny stone has no intrinsic worth, but DIAMONDS are a girl's best friend---so we pay extraordinary amounts of money to buy them.

SALESMANSHIP.

This is because our nice pens are Desk Jewelry, right? :biggrin:

 

[aggromere]

In general about prices. I took Roy's advice and started raising my prices on existing kits I make, eliminated the lower end ones and replaced them with higher end kits with higher prices. So far it seems to be working. I think I am selling the same amount of pens, just getting more for them.

 

[tim self]

Why are kits going up?\

YMMV, but the statement IS true or jewelry would not exist. A shiny stone has no intrinsic worth, but DIAMONDS are a girl's best friend---so we pay extraordinary amounts of money to buy them.

SALESMANSHIP.

This is because our nice pens are Desk Jewelry, right? :biggrin:

Oh no, not just desk jewelry. Some ladies do not wear much jewelry, (like LOML) and she/they call their pens their BLING! Some of the looks/comments she receives with her pens is amazing.