For my tuppence worth...
I asked some weeks ago the price of a bowl I had turned, I suspect some of you may remember the post? I was thinking of a price of around 10 Euros max for a little spalted olive bowl and got a LOT of flack for undercharging!
Now, I would happily ship the bowl to a gallery and charge double (I think the minimum suggested price was £25 from you guys). I simply cannot charge that sort of money here, it would sit on a shelf for YEARS, literally!
Free market economy was suggested in a previous post. Absolutely right! Perhaps, for me, a way of looking at my situation is similar to the housing market in the UK. A 2 bed semi in the south east is going to be CONSIDERABLY more expensive for the same house in the North East!
I had some great comments last night about my 'rustic' tea light holders, from an evening FULL of Brits... Not one was interested in buying as they felt that 15 Euros for a set of 3 was too expensive! When asked how much they would pay they came back with anything between 3 and 7 euros... Sorry that would just about cover the electricity used for the lathe and lighting! So they will stay on the bar and receive compliments!
The same with the little pendants I have turned. Asking price 5 Euros. Not one sold, why? Too expensive! Now, the 5 euro asking price was suggested by someone who I actually gave one to. That is how much they would pay for something like this. It seems that others have different ideas. I was thinking of selling them for 3.50 without fittings and 4.00 with fittings... This is likely to generate a little more interest and hopefully sell a few. After all, I didn't turn them to look nice for the next 6 months gathering dust! I really have NO idea what they would sell for in the UK but here I think that is going to be about the market price.
I am going to be sending a number over to London in two weeks time to be advertised on a friends craft website. The clientele are 95% 'society Londonites' and, I hope, will pay a premium price. I have someone who is going to take my wares to every market possible here and sell them for me on a commission. I will be looking at selling at the 3.50 - 4.00 Euros per piece AND paying a commission! If I can sell the volume then it will be worth while. If not then whats the point?
And, no, I'm not looking at this as a business but yes, I would like to earn a few beer tokens! Oh and yes I will have to register myself as a legal business here and pay tax and accountant etc etc etc.
There are a couple of pieces that I have been asked to sell and refused. Not on the basis of price but on the basis of quality. One piece in particular which I am very happy with as a display piece, simply does not work as a practical piece for sale. I have told this particular client that, when I get the right piece of wood I will turn one especially for them but it will be to a saleable quality!
Quality, 90% of the time, will outsell over price BUT there must be a limit, thats just economics, and finding the ceiling is the trick for your market.