Pricing Bottle Stoppers For Sale

[manfre]

I'm curious what price ranges everyone else uses when selling their bottle stoppers. The prices that I've seen online range from $20-70. I figure materials (wood, stopper, finish, sand paper, etc) is $7-8 per stopper depending on the wood and finish used. I don't think I'd be willing to sell one for less than $20, so that gives me a low end price for simple designs made of cheap wood, but I'm not sure how to accurately price shop time and the intangible "artistic value". Any insight would be greatly appreciated.

 

[ScottM]

Probably the hardest question in WW. An one that everyone will answer differently

Lots of factors:
- Hobby vs business
- How much time invested
- Over head cost (glue, finish, heat, electric, A/C, wood, stopper kits)
- Market/selling venue
- Quality
- Made for spec or custom order
- Single unit sale or multiple pcs
- Buyer a friend or family member

Bottomline I would not sell for under $20.00

 

[Mt. Gomer]

If you don't "need" to sell it then price it where you feel good about it based on the materials, the effort you put in, and how it came out. If it sells, great. If not, that's fine too.

If you're doing this as a money making venture then you need to figure your cost for the item (time and materials) then add a fair profit and test it against the market. If it sells faster than you expect then you can probably raise your prices a bit. If slower than you need to adjust accordingly or decide if it's really something that is sustainable in the long run. With regards to sustainability my guess is that many woodworkers, especially those just starting out, short change the value of their own time. The trap is that this can quickly lead to burn-out and resentment and suck they joy out of woodworking.

Travis

 

[ScottM]

If you don't "need" to sell it then price it where you feel good about it based on the materials, the effort you put in, and how it came out. If it sells, great. If not, that's fine too.

Travis

Only issue with this if you start attending craft fairs/other events and start competing against folks who do it for a living. You will hurt others if you "give them away". That is what I meant when I said market.

 

[manfre]

...

My time is never free. It boils down to who ends up paying for it. I don't mind eating the cost of my time for family, friends or as a learning experience, but I'm much happier when I'm not the one paying for it. What is an acceptable hourly rate for shop work. I know how much I bill per hour for computer consulting, but I don't think I can justify such a high fee for my weaker woodworking skills.

I don't want to sell myself short and was hoping for price ranges others have sold their stoppers in the past to avoid a lot of the market price guess work.

Only issue with this if you start attending craft fairs/other events and start competing against folks who do it for a living. You will hurt others if you "give them away". That is what I meant when I said market.

I'd like to avoid this mostly because it means I would be missing out on potential profit.

 

[sawduster]

i've been making and selling these for a couple of years now and in my market ( rural ) $20 is a good base price. i have gone as low as $15 for a " plain Jane " with no fancy tooling. Most people in my experience are buying them for gifts . The most I've ever gotten was $45 and that was a really nice piece of spalted wood that came out better than usual and it was that " ooooooh, ahhhhhh " factor that sold it . I enjoy making them. These have never been a big profit item for me but I'm OK with it cause I ain't in it for the money really . my selling has been at local craft shows, no online stuff. i have a phamplet I designed to accompany the stoppers ....kind of a " care and feeding " hand out that touts the Made in USA and Stainless Steel aspect of the stopper part.
i have a whole bucket full of interesting scraps that I save just for this and I'll knock one out when I just need to kill a little time so my advice is not based on any full scale production or anything
One thing I learned ....no sharp or pointy tops :BangHead: People cannot press them in if the top is sharp :nah:
hope that helps a little anyway

 

[Mt. Gomer]

Only issue with this if you start attending craft fairs/other events and start competing against folks who do it for a living. You will hurt others if you "give them away". That is what I meant when I said market.

Yeah, I was working on the assumption this would probably result in a higher price than the "business" model as in this scenario you could afford not to make the sale....

 

[Leviblue]

There's a couple rules that some follow such as take your cost of the materials then double it. Add your hourly rate and then add $3 for shop supplies. Simple formula but it would get you close. Don't underestimate your talent and time or no one else will value it either.
I priced the simple stoppers with a couple rings placed on the rounded top at $25 this past weekend at Maker Faire. Didn't sell any, but that's what they were worth to me. They were made of the stainless stoppers I picked up from you and the wood was mahogony. Everyone was more interested in the pens that day.
I've got several spreadsheets that can help you price the items that I can send you, but they all work about like the formula I mentioned. That's how I got to $25 allowing $12/hour labor. Labor is lower for me as I'm just trying to have the hobby pay for itself right now.

 

[Truefire]

Doesn't seem like there is much left to be said in regards to setting prices based on the perspective of being paid for both monetary and your personal time inputs. - what all others have said -

I would think that depending on the quality and aesthetics of your work, i wouldn't sell any of them for under $20.00. It is somewhat amazing, i was just having this same conversation with a good friend the other day.

The higher you price custom work, the more appealing it's value appears to the potential buyers. If the prices are a little higher, human nature assumes the product is worth more and when "in hand" is valued more highly. Weird how this works but it is indeed true. Just think about the way you perceive same in your own mind.

I would kind of let this be my guide as well.

Yeah, some other woodworkers may or may not agree with this and/or with your pricing, but that is ok. You will never please everyone, no matter how hard we try. :eusa_danc

take care, Chris

 

[manfre]

Lots of good feedback. Thanks everyone!

 

[NCTurner]

Mike, if you want to get a look at some real life pricing check out Etsy or similar sites.