How do you calculate the price of your items?

MyColonyNJ · November 2011

If you sell your stuff - how do you figure out how much to charge?

Do you use some kind of formula or something? I am finding it hard to value my "time" - like, what is my time worth. Obviously, you can not figure (for example), oh of course my time is worth $25 an hour so this XYZ should cost $50.

I feel like I undervalue myself because I figure, "hey - I am still in my home and it is still extra money"

Jeep Doll · November 2011

I start off with looking at the same items for sale on Etsy and comparing the quality to what I make and going from there (raising or lower compared to their price). I have found my time isn't worth very much, so I am trying to find ways to streamline the production of my items so they take less time to make.

Reinedumonde · November 2011

I charge by the yard and difficulty of the project (knitting). So for something easy, like a hat, would charge $0.15 per yard, which would come to about $30 for a basic hat. For something more complicated like gloves, I might charge $0.25 per yard, which would be about $50-$75 depending on how big/complicated they are.

emoflamingo · November 2011

I do the compare on etsy thing too. For some things I can produce in mass quanities easily, I am more flexible on price since I can do a bunch at once and get all the steps done at the same time, but for more complex things, I consider how much time and materials it takes for me to complete it.

wendelyn40 · November 2011

It depends...are you making one item and selling or making many? If you are making a lot of items, then what I use is: materials cost, labor (if you can make say 5 in an hour at $25 per hour, then your labor would be $5) plus your profit. If you are selling retail then double it. example:

materials: $5

labor: $5

profit: $5

wholesale rate $15

retail rate: $30

How do you calculate the price of your items?

Re: How do you calculate the price of your items?

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