I spend a great deal of time in the Etsy forums (when I'm not being banned) helping people out and often point the way to the Etsy Seller Handbook because there really is so much in there. While perusing it I came across a video entitled, 'the art of pricing for profit'. Since I'm trying to make a full-time income from Etsy, I watched it with interest, but not thinking I was going to get a lot out of it. (I needed something to entertain me through lunch.)
In fact I did get an enormous amount out of it! So much so I'm going to be doing a blog post on it soon, when I get it wrangled. It's in rough drafts at the moment but it's my hope that it will encourage all of you to be able to make sense of your own pricing. So with that in mind, here are a few questions for you. You can answer them in the comments to this post- anonymous posting is activated so you can do that if you're shy about it. If you prefer you can email me at sparrowsalvage at gmail dot com and I will (anonymously) use the answers to help me write a better post.
Many people consider it rude to talk about income, money, pricing of art/craft work etc, but I've never really understood why. We're all just regular people trying to learn from one another, I don't see where being secretive about these things helps. Sharing helps. So if I could pry...
1. Do you make enough now for your handmade to be your sole income?
2. Do you (want to) make a full income from your handmade or is it supplement?
3. Do you HONESTLY feel your handmade is priced for what it's worth? Why/not?
4. Do you think you under-price yourself? Why?
5. (for high price point sellers) Was there ever a time when you were afraid to charge big? How did you get around/over that?
6. Have you ever noticed a correlation in sales vs prices? (ie sales went up/down when prices did)
(this post has been updated on 30/09/2015 - some portions have been edited for brevity.)