How-to ‘Price’ Your Work
Figuring out the best ‘price’ for your work can be a scary task. We’re hoping this article will help you get rid of some of those fears. Whether selling on Zibbet is a hobby for you or a business, you still need to make a decent profit from your sales. At the same time, you need to be aware of your skill and experience level and know that you can’t charge ridiculous prices and expect to make a sale!
Here are some questions to ask yourself when pricing your work…
1. What are my costs?
The first thing you need to do is work out exactly what your costs are. These may include:
- Paypal fees (this changes depending what country you are from and your sales volume)
- Materials (what you used to make the item)
- Advertising (perhaps you have a monthly advertising budget. If so, divide this number by the average number of items you create/list each month and add this to your costs)
2. What is my time worth?
Creating the wonderful things we have on Zibbet takes time. Keep track of how many hours it took you to create your item and multiply this with the amount of money you wish to be paid per hour.
3. What are my ‘competitors’ prices?
It’s important that you’re aware of what your competition is charging for items similar to what you’re selling, and adjusting your prices up or down if necessary. You need to spend time researching this within and outside of Zibbet. If you feel your item, technique, skill, or experience is better than your competitors in some way, make it known in your descriptions and profile page and don’t feel pressured to lower your prices. Likewise, if you can see that your competition is offering lower prices for the same or better product; don’t be too proud to lower your prices to be more competitive, or you will rob yourself of sales.
Using a combination of the above, should hopefully help you when setting your prices. Keep in mind that there is no ‘equation’ or ‘system’ that will suit every seller. Everyone creates different things and has different skills, and experience levels. You need to tailor a pricing system that suits you.
Tags: How-to Price Your Work, Pricing, Pricing Your Work, Sell More, Success On Zibbet
What about a choice to leave prices in Pounds too?
Hi Martiens,
The ability to list in multiple currencies is a feature we are going to be adding to the site in the future.
Jonathan.
Dear Jonathan,
I have been on other similar sites and not sold anything. I hate computers and websites but I am beginning to love your site, it is so amazingly congruent and is everything that a site should be. Congratulations.
Vivian John
Thanks Vivian, that’s great to hear. You are on the ground floor of something really special. There’s a lot more to come from Zibbet!
As a photographer I find it important to offer my prints in multiple sizes. Do you plan to eventually allow us to have more than one size, without having to list them as seperate items for sale?
I truly think this site is going to do well. before this site even started I heard a few people tell me about here.. even my daughter which will be singing up soon Needs new computor..
‘mariamontano’ - Yes, allowing sellers to offer prints in multiple sizes is on the list of features we will be building into the site over time. In the mean time however, you will have to continue to list them as separate items. We will also be adding a ‘list a similar item’ feature which will make the listing process a lot quicker for a lot of sellers as well.
COMMISSIONED PORTRAITS AND FAMILY PORTRAITS FROM PHOTOS -
Portraits have always been the bread and butter of an artist’s work. I am currently offering this service in a number of ways. I did an Alice in Wonderland Tarot many years ago and am now offering to do a painting of Alice in Wonderland with the client or their wife or daughter as Alice. Often people have many photos they would like to put together. A painting is the ideal way to do this. So there are many opportunities for innovation and creativity for all of us.
The problem is that I don’t see how the client can send us their old black and white or sepia family photos by e-mail attachment. I see a problem in that they might send it with a virus. Also it allows another access/path for the scammers. All of us need to really defend ourselves by communicating freely and following the rules. And Zibbet has to maintain the strictest on line security.
I don’t think Zibbet has realised this niche market and allowed for it, so is there anyone else in the big wide world who can see this as a wonderful opportunity to reach customers and give a really comprehensive art service in the old tradition? I am sure I am not alone in my vision.
I also find it very hard to know just how to price my work but I find that if I work out my total production, shipping and Zibbet cost then I should get a figure that made it all worth while. Being greedy just doesn’t work.
In the end a piece of work is worth whatever a person is willing to pay to own it.
Regards to all, Ian
Basing a price on what others are charging for similar work makes sense, but when crafters who don’t need the money sell for prices that are at materials costs, you either have to not make any more of those items or settle for just making your costs.
Is Zibbet doing anything to get hobbists to charge a reasonable rate for their products?
I’m just getting used to this site. I currently have 2 sites on webs and they aren’t bringing in much traffic. I’m at the point in lifi I HAVE to bring in some sort of cast - and in this economy i cant find anything!! I hope this helps bring traffic and happy customers. lets Hope, anyways. Besides that - Great site! Happy Halloween! …Now where did that candy go??… LOL
Is there a way to discount our prices, to show a sale? i also need to know what to do when someone wants to buy something, but then i cannot get in touch with them to actully pay for it! this has happened 2 times!!!!!!!!!!!
Thats a good question from SerenityJewelry. I would like to have the answer.
SerenityJewelry: Premium members have access to a feature called ‘Sales Mode’. You can read more about it here: http://www.zibbet.com/blog/2009.10.03/sales-mode
When someone purchases your item and then doesn’t pay, you can contact them through the site. There’s an option on the drop-down box on the ’sold items-needing action page which takes you straight to the page where you can send the buyer a message. If they have only inquired about the item, then they would have done so by contacting you through the site. You simply need to login to your account, click on the ‘messages’ link and you can reply to their message there.
Any further questions, please direct them to support@zibbet.com. It’s the best way to contact us and you’ll have a reply within 24 hours.
Jonathan says:
“We will also be adding a ‘list a similar item’ feature which will make the listing process a lot quicker for a lot of sellers as well. :)”
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This is great news. The pre-filled entries sure are a tremendous help and cuts down on listing time.
I’m in the process of adding 50, same type items to my store.
Having to type in the (keywords and tags ) has taken me a lot of extra time. I would be using the same tags each item. Clicking in these things would be a great time saver.
Bettye
excellent advice and news. If someone sees an item for $10 and one for $20 with regard to art/craft, they’ll buy the $20 because the human mind set tends to be “you get what you pay for.” That needs bearing in mind too. (read this in a few places)
I’ve tried a few other sites and none compare so far with regards to ease of use and customisation. The site is very intuitive which I really appreciate. I look forward to seeing where ‘we’ go
Congrats too on reaching the finals, best of luck!
markd
I found that listing my prices just under a whole dollar amount helps too! For example instead of posting it for $25.00 post it for $24.95. You get the price you want more or less but folks see the 24 and not 25 and think they are getting it for less!
On a side note it would be nice for a similar item button or multiple colors type of choice button.
Laurie
Do you have an option to list in UK Pounds
Carole