Calculating A Sale Price

The lighter evenings are here now and making me stay up longer to knit! I am having fun making knitted shawls of all shapes and sizes. I do, of course, have a stash of yarns from which to choose. My goal is to use as many as I can BEFORE I buy any more! We will see how that goes!

Yarns are so addictive; they come in so-o-o many different colours and textures. I like to support my local weavers and spinners by buying their hand-spun and hand-dyed yarns. Hearabouts they usually have a sale twice a year but I really should use up my stash first!

The colours of these hand-crafted yarns are much more subtle and muted and I prefer these to the commercial dyes. I would like to learn how to dye yarns but for the moment, I shall support the local artisans.

hand dyed and commercial dyed


Markets and craft venues abound and people are looking for that unique, reasonably-priced item. Oh, how I wish I found it easy to price my work. I so enjoy making things but pricing them is always a challenge. Some shoppers believe that if an item is hand made then it should be cheaper than a mass-produced one however, those who know a bit about making unique and beautiful hand-crafted items understand the amount of time involved in their creation.

I have been given a formula for pricing hand-crafted items:

Hours spent on a piece x Hourly wage = Labour
Cost of materials plus labour = At Cost
At cost x 2 = Wholesale price
Wholesale x 2 = Retail Price

One of my small knitted and felted pouches takes me about four hours to knit, felt, sew in the lining and zip plus embroider so using the formula above, it would cost $32 if I calculated my time at $8 per hour. Even though I receive positive feedback, unfortunately shoppers are willing to pay $16-20. I wonder sometimes if it is worth my while making these specialised items.

Another suggestion for calculating a price is:

Cost of materials x 3 = Selling Price

I am pleased to say that I have been accepted to sell my work at a local craft venue in the Fall and it has been suggested that I make shawls and bigger bags to add to my repertoire. My latest shawl, the Purple Petunia, took over six hours to make so the labour alone would be $48!!

In the meantime, I shall be very happy knitting and knitting and knitting then think about pricing later!! Maybe I will have a brainwave and reach a happy medium before the Fall!

Advertisements

About woolbrain

I love the area where we live. We have the ocean and the rainforest. I enjoy creating with yarns, fabrics, buttons and beads. I also like to keep learning new skills and share with others.

Posted on 22/06/2010, in knitting, Uncategorized, wool and tagged , , , , , . Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

The Procrastinator Dyer's Diary

A Journal of Observations

rosiepink

Adventures with Felting, Dyeing, Knitting and other stuff

The Creative's Tribulations

From the perspective of a frustrated creative.

Adventures with Felting, Dyeing, Knitting and other stuff

lil fish studios

Adventures with Felting, Dyeing, Knitting and other stuff

Attic24

Adventures with Felting, Dyeing, Knitting and other stuff

FeltUnited

Uniting the world wide felt community

feltingandfiberstudio

An international collective of felt and fiber artists

dyefeltsool

documenting the process

tremblinginsidethecocoon

Just another WordPress.com site

The Procrastinator Dyer's Diary

A Journal of Observations

rosiepink

Adventures with Felting, Dyeing, Knitting and other stuff

The Creative's Tribulations

From the perspective of a frustrated creative.

Adventures with Felting, Dyeing, Knitting and other stuff

lil fish studios

Adventures with Felting, Dyeing, Knitting and other stuff

Attic24

Adventures with Felting, Dyeing, Knitting and other stuff

FeltUnited

Uniting the world wide felt community

feltingandfiberstudio

An international collective of felt and fiber artists

dyefeltsool

documenting the process

tremblinginsidethecocoon

Just another WordPress.com site

%d bloggers like this: