Apparently I'm Making The Wrong Things

J T wrote:
[snip]> But, on the other hand
> I've known idiots that figured only high priced things were rth buying -
> no matter what it was - I wonder if I'd get any takers at maybe $100. [snip]

I tried that theory. I made (many moons ago) chess boards from solid
surface material (scrap to me) which were getting a lot of attention at
a fundraiser for the local women's auxiliary at the hospital. A lot of
deep pockets attended. I had made 14 of them, sold 2 at $75.00.
Two weeks later, the son of a friend of mine sold the other 12 at an
artshow/fundraiser for $129.00 each marked down from $179.00. I admit
he's a lot cuter than I, but holy cow!

r

One time, some clearly psychotic man rolled up on me in the Borg
parking lot trying to sell me one of these Uncle Sams he bandsawed by
the score out of construction site cutoffs. He told me he sold tons of
them at some ridiculous price and what a cinch it was, and pure profit,
too. And here I am calling him crazy.

Robatoy wrote:
> J T wrote:
> [snip]> But, on the other hand
> > I've known idiots that figured only high priced things were rth buying -
> > no matter what it was - I wonder if I'd get any takers at maybe $100. [snip]
>
> I tried that theory. I made (many moons ago) chess boards from solid
> surface material (scrap to me) which were getting a lot of attention at
> a fundraiser for the local women's auxiliary at the hospital. A lot of
> deep pockets attended. I had made 14 of them, sold 2 at $75.00.
> Two weeks later, the son of a friend of mine sold the other 12 at an
> artshow/fundraiser for $129.00 each marked down from $179.00.

I think it's more than a theory-- should check an econ textbook. The
parents of a friend of mine own an optics business that sells materials
for calibrating high-end instruments used in forensic research and the
like. When they started the business 20 years ago they were
underselling the competition by about a 90% margin because they
invented a new process for making their product. The business almost
failed; few customers would buy their product because they thought it
was priced too low. They eventually raised their prices by a factor of
about 8x and sales took off-- now they have 20 employees and could
continue expanding if they wished.

-kiwanda

Isn't really about what an item is 'worth' to the individual?
Regardless of what your price is (initially) the individual must decide
if the item is worth that price. He may have purchased an item for
$150 and thought it was a deal whereas the same item sold elsewhere is
$85.

A rather common marketing ploy. List a highly inflated price then mark it
down. People think they are getting a deal.

"Lobby Dosser" <[email protected]> wrote in message
news:jQ7Lg.19267$CL6.634@trnddc06...
> "Robatoy" <[email protected]> wrote:
>> > Two weeks later, the son of a friend of mine sold the other 12 at an
> > artshow/fundraiser for $129.00 each marked down from $179.00. I admit
> > he's a lot cuter than I, but holy cow!
> >

It's called perceived value. I used to try to sell one of my toys for $11
retail, couldn't give them away. Raised the price to $22 and couldn't keep
them in stock. The customer thinks that if it costs X number of dollars
then it's worth x number of dollars. If it's marked down then it's a
bargain. A few of my items are marked up to the obscene price range because
the customer will pay it for them, I don't understand it but it works. Some
items you can't get cost out of and others you can over price to death and
still sell them.

Maybe your banks would be worth more if you charged more for them.
"J T" <[email protected]> wrote in message
news:[email protected]...
>
https://shop.holidayoriginals.com/displayProductDocument.hg?productId=1&cate
goryId=2
>
> I saw this in a magazine. The ad claime it made with Ponderosa
> Pine, woodburned with a Welsh technique taught in the U.K., handpainted,
> and signed by the artist. The accessories are sold separately for $15
> each.
>
> From the picture I saw it looked more like it was silkscreened,
> rather than handpainted. I just wonder how many of them are selling at
> their price of $147 each ppd? Not many I'd be willing to bet. At
> least the banks I make actually are handpainted, but I'd be ashamed to
> ask prices like that. The large banks weren't selling well at $20 each,
> so they sure wouldn't sell at higher than that. But, on the other hand
> I've known idiots that figured only high priced things were rth buying -
> no matter what it was - I wonder if I'd get any takers at maybe $100. I
> use patterns, so it doesn't take long to actually assemble one (not
> counting the glue and paint drying times), the painting takes a litle
> time but is relaxing - I do NOT depend on woodworking for a living, I do
> it for fun and relaxation, any money I make from it is pure gravey.
>
>
>
> JOAT
> My shop, my rules.
>

"Robatoy" <[email protected]> wrote:

>
> J T wrote:
> [snip]> But, on the other hand
>> I've known idiots that figured only high priced things were rth
>> buying - no matter what it was - I wonder if I'd get any takers at
>> maybe $100. [snip]
>
> I tried that theory. I made (many moons ago) chess boards from solid
> surface material (scrap to me) which were getting a lot of attention
> at a fundraiser for the local women's auxiliary at the hospital. A lot
> of deep pockets attended. I had made 14 of them, sold 2 at $75.00.
> Two weeks later, the son of a friend of mine sold the other 12 at an
> artshow/fundraiser for $129.00 each marked down from $179.00. I admit
> he's a lot cuter than I, but holy cow!
>
> r
>
>

Heh! It was the Markdown that sold them. "Wow, I saved 50 bucks on this!"