I’m down to arranging the last little bits of my wholesale catalog… I have a photo “date” tomorrow evening, I have the catalog mostly laid out… The only problem is that I’m starting to waffle on including a certain pendant.
The pendant in question is a design I created in advance of a show in October, expressly so that I would have some items at a lower price point (read: under $100). I like the design. It’s simple, it’s easy to make, and it’s right in line with the other types of pieces I’ve been making. And, up until this morning, I was fully planning to include it in the catalog.
Except that I’ve priced it at $88 retail. Which, if you do the backwards math, means that I would hardly make anything if I sell it wholesale or on consignment. Basically, I’d have to learn how to pop them out in an hour or less to make any sort of profit. Which, I suppose is possible, since they are very simple, but… does it make sense?
I think that a lot of artists face this same sort of question… Do I potentially not make a penny on these pendants in the gamble that a wholesale client would buy some of the more expensive pieces that I would make money on?
I find it interesting how much of the pricing game comes down to sheer guessing. I guess I’ll have to chew on this a bit more. What would you do?