How to price your work?

[tek2graphics]

Hello all, I need help pricing a few projects im working on.
I work from home as a graphic designer, (always looking for more work). But i would like to start selling models and sculptures that i've created. I don't want to over price or under, just want to be fair. I'm not a "professional" like many here, but im not that bad either. You can see what I have so far here: https://www.etsy.com/shop/Godzillarts
I really need honest opinions. Any help will do. Thanks in advanced!

 

[IEDBOUNTYHUNTER]

That is a really tough question. Now a days, especially lately ive found that people want everything for free. i mean its always been that way, but more so now. Its a compromise between making money and not losing money. and the margin is really small. Just charge what you think is fair, and stand firm. what good is it to sell a bunch of stuff but not make a profit. I try to charge a fair price. and still make a little money.

 

[tek2graphics]

Yes, i know.. it is hard... :unsure
Thanks for your response.

That is a really tough question. Now a days, especially lately ive found that people want everything for free. i mean its always been that way, but more so now. Its a compromise between making money and not losing money. and the margin is really small. Just charge what you think is fair, and stand firm. what good is it to sell a bunch of stuff but not make a profit. I try to charge a fair price. and still make a little money.

 

[charades]

Most important thing is to make sure you account for your time and hourly pay. No point selling stuff if you don't make enough money to cover your labour hours. Etsy is kinda terrible with this. If you don't price correctly to make at least minimum wage on your time spent, what's the point? You may as well work at Walmart. If the real value and perceived value of your goods are at odds with one another, then you may have to ask why you're doing it.

 

[Gattaca]

I'll never get paid enough for my time, if I did my models or props would cost tens of thousands of dollars based on the hours I put into it. So I'm trying to recoup my costs of molding and casting supplies with some extra to buy more materials and come out on top with some spending money and still keep the objects affordable or no one will buy them.
But I'm still trying to figure it out as I go. Good Luck

 

[tek2graphics]

I don't believe (realistically) someone should/could charge hourly, because you could spend very little time or months on a project... I think it depends more on the talent, demand and clientele. But still...

Most important thing is to make sure you account for your time and hourly pay. No point selling stuff if you don't make enough money to cover your labour hours. Etsy is kinda terrible with this. If you don't price correctly to make at least minimum wage on your time spent, what's the point? You may as well work at Walmart. If the real value and perceived value of your goods are at odds with one another, then you may have to ask why you're doing it.

 

[Duncanator]

I price projects in two very different ways.

If it is a commission project, I charge for time and materials, but include a buffer for overages. I always agree on an estimate price with the buyer before I start, and I've been doing it long enough that I can gauge pretty well how long it'll take. If I manage to get it done quicker, then I just increased my hourly rate. If it takes longer, well, then I end up earning a lower hourly rate. The goal here is to make money!

If there is a project that I want for my self, I will make enough parts to build two or three copies. Then I'll try to sell the copies at a price that at least covers the cost of all the materials. That way my copy is essentially free to me. If I'm lucky, I might make a little bit of money for my time, but I don't usually expect that on this type of project. The goal on these projects is to simply get a piece made for myself "for free" or at least offset the cost of materials.

 

[tek2graphics]

That all makes sence. I made a Wheems from batteries not included because I wanted one for me.... And like you, I'm making several copies so that I can sell them. Not too worried about the profit, but still want to make something for the expenses. Thanks for your imput!

I price projects in two very different ways.

If it is a commission project, I charge for time and materials, but include a buffer for overages. I always agree on an estimate price with the buyer before I start, and I've been doing it long enough that I can gauge pretty well how long it'll take. If I manage to get it done quicker, then I just increased my hourly rate. If it takes longer, well, then I end up earning a lower hourly rate. The goal here is to make money!

If there is a project that I want for my self, I will make enough parts to build two or three copies. Then I'll try to sell the copies at a price that at least covers the cost of all the materials. That way my copy is essentially free to me. If I'm lucky, I might make a little bit of money for my time, but I don't usually expect that on this type of project. The goal on these projects is to simply get a piece made for myself "for free" or at least offset the cost of materials.

 

[trekriffic]

I don't usually do commisions myself but, on one I did do, I had the client send me two kits of the model he wanted built. It just so happened it was of a subject near and dear to my own heart. Then I gave him a flat dollar amount to cover materials, labor and shipping which was very reasonable I thought. It would have been difficult to give him a figure based on an hourly rate because it was a resin kit and I don't normally work in resin so I had no clue how long it might take.
I wasn't looking to make any money though; just getting the kit for myself for free was enough. The rest was just gravy.