I have been selling on Folksy for about a year now and I have loved it! 
Something I am still wondering is how do you decide on your pricing?
For me, my base materials aren’t very expensive nor do I typically use a lot - time is my biggest factor.
How do you determine your prices?
Thank you 
This is a complex topic and everyone has their own solution - there are plenty of formulae out there for calculating a retail price, it’s worth trying a few out to see what the results are. For you the biggest factor is probably the hourly rate you charge for your time, maybe start with minimum wage and see where that takes your prices? I’m similar in that my materials are relatively inexpensive so people are really paying for my time and creativity - I factor in materials + time (not just making time but time for all the other stuff like packing, posting, doing the accounts, listing, photography, promotion…) and add on a bit to cover Folksy fees and then enough of a profit margin to give me a base price at which I could sell the product and not feel exploited. That’s then my bottom-line (wholesale) price and I roughly double it for the retail price, while trying to maintain a reasonably logical pricing structure and bear in mind what my competitors are charging so I’m neither at the bottom end of the price range nor way off the top! If something works out ridiculously expensive I either take a hit on it and add a tiny bit on to some other things to cover it (this only works if you also sell the other things though!) or figure out a way to make the next one more cheaply… or drop it altogether. Or occasionally brazen it out in hopes that a high price will improve its perceived value. I was once told that having a couple of expensive showpieces on a stall or in a shop would help the lower-priced items to sell…
Anyway I’m glad you’ve enjoyed Folksy so far and I wish you good luck with future sales whatever you decide to charge 
This is always an interesting debate - lots of pros and cons and opinions. As a baskemaker my initial prices were relatively low to match my skill level but I have gradually increased them as that has improved. Last year I did some market research to check out what other makers were charging and took the decision I was still rather low. So I bit the bullet and increased my higher end basket prices - and they now sell very well. I still have lower-end and middling priced items too. For me it’s been a confidence thing as much as anything else - especially in such a financial time as we are in. My observation has been that the people who still have money will buy the higher priced items without batting an eye-lid. I agree with Lynn - make sure you cost in all your time - for me that includes harvesting and sorted my materials, choosing and preparing materials, the making, monitoring and final trim and check - plus the time it takes to package ready for posting - not always straightforward for baskets. Plus all the admin time. You will be surprised at the price you get to 
I was thinking about you half an hour ago Anne, while watching a homw reno programme! Totally off topic for this thread but while I think of it… have you thought about making woven lightshades? They’ve been popular for a while but seem to be ever more so recently and I can imagine that offering custom shades would be really popular, if you can get in front of the right audience.
Just a thought 
So far I’ve not been able to set a proper hourly rate but I think that is normal with crochet/knitting. I have sorted what is worth making and items that aren’t.
I now price nearer the top end for what I make.
Think it’s different for everyone
@Caroleecrafts I like that calculator
Debbie - that was very kind of you. I have made lampshades - and lamps - in willow before. I can’t say they were big sellers but I am aware of their current popularity - they do look fabulous - I have a student wanting to make one. What I make is to some extent limited by where I live - a small 2-bedroomed bungalow with an 8x8 workshop and my stock is stored in a trailer on the drive - willow items take up quite a lot of space to store. But it might be rather lovely to give them another go - almond all my other plans for new products! I have a better stand to display them on now too.
Here’s a couple of photos of quite an old lamp we have in our living room - they can be great statement pieces and throw off lovely patterns 
All totally off-topic 
I need to try this
There was a good webinar on pricing (and how it’s very individual depending on your own needs) but if you don’t have a Plus account to watch it back, there’s a blog post that covers the basics - Realistic costing and pricing advice for artists and makers from The Design Trust | Folksy Blog
Hi @BasilandRose,I think pricing is the hardest part and it also depends on what you make also how much experience you have in your chosen field and your level or workmanship etc. Love your miniature dolls house pieces by the way
I know how and what I should be charging, ĺ?I have 10 years experience but don’t/can’t charge anywhere near suggested calculations. Mine take days to make so unfortunately i won’t ever be able to charge the recommended amounts but my prices are steadily increasing without loss of custom.
When i started i made a huge error in that i didn’t factor anything in for my time so it has taken me a long time to steadily increase to where I am now. i made a huge amount of sales but after 2 years no profit at all. Over the years my items have improved and their prices have risen but as a business are still way too low, I lost a lot of local custom when i started increasing prices, however I then gained new customers and collectors. I think it’s the most difficult part of working for yourself. I never compare my prices to other bear makers, mine are all my own designs which over the years equates to weeks of work for no end product, designing, prototyping, discarding and starting again, a lot of bear makers use commercial patterns so I don’t take much notice of what others charge.
Try to factor in for time and cover the cost of the materials and fees. Some people charge an hourly rate (wouldn’t that be lovely) much easier to do if you are making quick items, look at your work and decide what would you pay for it.
Same/similar pathway here Debbie - and I’m still working to bring my prices up although getting to a point where I am now happy-ish with them. While I looked at other basketmaker’s prices, they gave me food for thought but I didn’t necessarily follow suite. I love what I do and that is a big part of my pricing factor
Thank you Mick
I can’t even begin to imagine how much my work would cost if I factored in my time, can’t see anyone paying £20 for a birthday card.
I’m so very lucky that I don’t need to make a living from my work though, I remember when I first started here and I used to charge what I thought was a reasonable price for one of my hand painted cards, I sold a couple too and then started seeing all the other fabulous hand painted cards from some super talented artists here that were selling really well and more than half the price of mine, so had to factor that in too or I would have been left in limbo land I think.
I tried selling my art as art too for a while, again very reasonable prices I thought, but had zero interest so have given up on those. I always think you need to have an ology in some form of art to be able to sell paintings anyway and even then it’s such a competitive market.
For anyone with a less overpopulated craft or skill then I think you can afford to charge more and those who still have money will pay it though. My brother is a master blacksmith and makes Damascus steel knives among other things, he’s seen a slight downturn but not much, as others have said those with money are still happy to spend.
This has been really interesting to read through, so thank you definitely a lot to think about! I know I need to spend more time in the admin side of my business.
I do account for my material costs but it can be hard to gauge how long it takes to make things as there’s a lot of waiting/wandering off whilst things dry etc. plus I’m often making things at quite a leisurely pace.
I have tried to compare to other UK shops who do similar things but quite a few use things like 3D printing and Cricut makers. Being entirely handmade I do feel I should price a little higher, but I have never set out to be the most expensive, not do I want to be. Some of the places using these methods already charge quite high so I feel unsure where that leaves me sometimes.
As this is a secondary job for me, I would rather make steady sales than out price everyone, but I’m definitely going to look a bit closer at my pricing.
@Bearlescent thank you so much 
I love seeing you beautiful bears too!
I don’t know why I am even joining in on this thread as it always causes upsets or people complaining to others.
However , here I am…ready to get shot down in flames.
I hand paint greetings cards for just £1.25 each…and paintings starting at £5…
Believe me, IF I could find someone willing to pay me £40 for one of my paintings, I would alter all the prices today…BUT, trust me, I have tried…no sales.
I often look at art and wonder how they can get such high prices.
Yesterday I painted an angel for £5…then found one on the “dark side”, asking over £800…what???..of course they haven;t sold it yet…I wonder if they will…
I WISH…
A painting for me is just a piece of paper and some paint…(A tube of watercolours lasts for months and months…so the outlay is minimal…)…and I can paint a 7x5 watercolour in under an hour…often less than 30 mins ( I know I am quick)
A greetings card takes me about 10 mins and although I have the expense of a blank card and envelope, I cannot find people willing to pay £4 or £5 for a card when the shops have them for 99p…believe me I have TRIED,
So for me I work on the basis of selling quantity for lots of small profits and have had 45 sales this month so far. I am not trying to undercut others, just trying to keep my head above water.
I get accused of stealing other people’s sales and that is hurtful to me …I expect more people will jump on here and do the same thing.
So they want me to raise my prices and wait months and months for ONE elusive sale?
I have bills to pay.
People say that I should increase my prices and value any talent, but it doesn’t work that way…you have to be extremely lucky to sell art at high prices. It’s a tough old world out there and if I can continue to paint, which is what I love to do, then I will continue in the way that I do.
How lovely they are! 
I’m in exactly the same boat as you vis a vis space - we live in a small 2 bed cottage and both work from home with businesses that need quite a lot of storage, which we don’t have - our overflow is in the loft…
Might be worth looking around locally for interior designers and just letting them know you’re available to custom make them (if you want to)
Thank you Debbie for your thoughts - Alan had the garage for hi woodturning, I have an 8x8 summerhouse for my weaving in the garden, plus a 7x5 shed tucked away to store my willow - which will be moved into the garage now Alan I no longer woodturning. Alan raised our wooden-based bed where I have 20 bolts of rush wrapped and stored - plus another 12 in the wardrobe in the spare bedroom. One of our wardrobes in our bedroom stores his wood turning (space to be released soon ) and all our show gear. Paperwork is stored in the loft - it’s not dry enough to store anything sensitive. What fun we have 
Thank you for the suggestion - I used to have items in shops but I decided I don’t need to be paying their commission - although I do have a shop-owner friend in Tavistock who sells lovely homewares - so that’s a possibility. Plus I have now happily reached retirement age so I’m looking to back off the manic phase . But following your comment, and Mick’s - these have now been added to my new projects list for this year - not really new but revisited. Thank you.
Sorry folk - we are still butting in inappropriately 
Pricing can cause so many rows amongst crafters. At the end of the day it is up to you what you charge. I am lucky financially do not have to earn money but for my well being have to create as keeps me from thinking too much.
In an ideal world we should all be able to charge for our time and more but sadly until some buyers accept that we are not hobbyists and willing to pay the proper price this sort of topic always comes up.
I have some excellent customers that never complain about my prices but others just walk away, I think their loss.
Do what is right for you.
The most important thing with pricing is to be happy with what you charge regardless of whatever anyone else says or what formulae tell you. We all have different earning needs, different products, different areas we live in. So much can affect your prices - I have been accused of under-pricing and under-cutting on a few occasions - and “how can you possibly charge that” on many others. Thankfully, a year or so ago I reached a point in life where I no longer felt the need to argue or fight my corner. And yes - I did need to earn a living so it wasn’t about it no longer mattering - it was just about an acceptance - and that there would always be someone who would moan. Choose how you want to develop - if you want to fly and be out there in the mix then your pricing will be much different from someone else in a different boat. There are too many stresses around to be fretting about what other people think - be kind and thankful for what you have and do.
