Showing posts with label pricing. Show all posts
Showing posts with label pricing. Show all posts

Saturday, June 22, 2019

how high is too high?

I've been in the zone with pottery making lately. I'm getting ready for the Clay and Glass Festival in July, and every year it's a big push in May and June to get enough work made for the show. Every year I have the same goal: sell $10,000 worth of work. And every year I sell about $5,000.

There seems to be a ceiling, and part of that is because I don't even bring enough work to sell $10,000. By Sunday morning, my booth still has plenty of work, but the discerning eye can see the holes. I'm a master merchandiser, if I do say so myself, but even I can't hide the fact that every small and medium bowl is gone or there are only giant vases left.  This year, I'm not fucking around. I'm cranking out work. There will be enough to sell $10,000 worth. I think.

Or, maybe I don't make my magical $10,000 goal because my prices are not high enough. This thought has been an annoying buzz in my brain lately.

I had a very uncomfortable moment with pricing a couple of weeks ago. A request came in for a custom item, an item I don't normally make, with a specific design on it. I wrote the person back, telling them I can make this thing, but giving them a heads up that it's going to be expensive. They came to the studio and we worked out what they wanted, and even though I had told myself ahead of time that I would not give them a quote at the studio, but give myself time to think about it so I could come up with the appropriately outrageous number, I ended up dropping a number right then and there. I don't know why, which is a question I will be exploring with my internal therapist.

The customer was fine with that number, and then said that they thought it would be twice that. And they had been prepared for twice that. What I would like to know is why I was not prepared for twice that.

That incident coupled with the upcoming show and the question of my prices has me pondering a couple of things. First, what is the ceiling on pottery pricing for me personally and is influencing that cap? I wonder if I were a man, and asking for 15% more, would I get it? The answer to that question is "yes".  Then I start wondering if I need to present myself in a slightly different way to get higher prices. Because it's not just about the work. It never is.

And I have never been one to under price my work. From the start I've always asked for more, and part of that came from working for Sandi Dihl, and seeing how she priced her work. She always pushed prices higher. But I have been doing this for 20 years now--whaaaaat?!-- and I feel like I have plateaued on price. There are a host of reasons for that, including competition, the global economy, patriarchy, capitalism, blah blah blah, but I wonder about minute personal factors that are influencing my prices, and what I can do to change that up. These are not questions I enjoy pondering. But I think I would be a fool not to.

Back to the customer in my studio who is feeling relieved and surprised that they just saved $500. We talked about the price more, and we came to a price that would split the difference between what I just quoted and what they expected. I was transparent and honest in telling them that I don't always value my own work, which I hate admitting. It makes me mad at myself. But I realized in that moment that if we didn't balance the price between us, I was going to resent the hell out of that order, which would mean I would end up having to make it several times because the first one cracked in half, and the second one exploded in the kiln. That's how pottery works. It often expresses my internal conflicts, which forces me to reckon with myself. And that's why I'm an ARTIST! *confetti falls from the heavens, god smiles*

Here is a picture of some of what I made last week. I had to move work-in-progress onto my studio display shelves, because my ware carts were all filled up.




Monday, September 19, 2016

more, better, faster

Potters are generally people who like to get things done. When you're on the wheel, you can whip off cup after cup, bowl after bowl in a matter of minutes. When you get good at making pottery, it's easy to be productive, and we like to be productive. To be a successful potter, it's all about production, which comes down to this: more, better, faster.

When I first started creating the new body of work I'm into now, it forced me to slow down because I didn't know what I was doing. The technique and approach meant that making one piece could take a half day or more, which short-circuited my production-oriented mind. But I did what I always do, what all potters do, which is problem solve and figure out better ways of doing things so I could move faster through the process and make more work. This is all well and good, since getting bogged down in a slow, labor intensive and repetitve process is torture. Unless you like that kind of thing. And if you do, you are likely not a potter.

I've come up with two different collections that I can make relatively easily and don't have a lot of things that can go wrong, which makes it ideal for wholesale. I haven't done a push for wholesale accounts in years, because I've managed to sell my work on my own without having to mark it down to wholesale prices. But sales are still slow, so I feel like I need to get more work out there through wholesale.

If you've read this blog for any length of time, you know I do not like wholesale. I have to come up with a price that's low enough for retailers to be able to double the price and still be able to sell the piece, which just puts any maker into kind of a bad spot. Because then I have to sell the piece for that same price, I can't undercut my retailers. It's a very uncomfortable balancing act. And I wonder is it's even worth it-- it's not like the retailers are banging the door down anyway. Would it be better to just give a lower price to my own customers and forget wholesale completely, once and for all? I would rather have one good customer of my own over any single wholesale account any day.

But then the question is, how much can you lower your price before you start undermining the value of your own work? I think having a lot of wholesale accounts can erode a pottery business' finances because you're doing all of the work for half the pay, but there is the fact that they are marketing your work at a certain price point, creating an expectation of what your work will cost. Does that balance out the cost to the business?

A lot of questions today, and not a lot of answers. I'd love to know what you think. Go ahead, tell me what to do!

Wednesday, July 15, 2015

the cost, the price

I'm in recovery mode from the Palo Alto Clay and Glass Festival. It's always a good show for me and this year was no exception, though Sunday was one of the worst days ever. So it was way out of balance-- Saturday was excellent, Sunday was not-excellent. It is very strange, how the energy of a show is set and how it affects everything. The energy of Sunday was downright lethargic, and by noon I was limped out in my chair, wondering if anyone would notice if I just crawled under one of my tables and slept for a little while. People were nice enough, but few were in the mood to buy anything. Though they were still in the mood to come into my booth and touch everything, which believe it or not, sucks up a lot of energy.

Early on the first day, one of my fellow exhibitors came into my booth to check out my work. He's a glassblower, older than me and very experienced with the whole making-a-living-at-making-art thing. He picked up a few pieces, and then got blunt with me. "Your prices are too low."

I was blunt right back. "I hate it when people say that to me." And I do. I take it personally. I feel like what is being said is that I don't value myself enough, and that makes me feel defensive. I think I value myself but also, maybe I don't sometimes and that makes me embarrassed. Also, I hate it when people try to tell me what to do. That's my goddamn job.

"This bowl," he said, pointing to a giant bowl, "should be at least $475. It's way too cheap." (It was $250.)

"Okay, " I said. "It is my favorite bowl." (And it is. It's fucking amazing.)

"There you go," he said, "at least leave yourself some room to negotiate. How are you going to feel when that bowl walks out of here for $250?"

I changed the price to $475.

Later, we had a more in-depth conversation about pricing. It was good for me to have the conversation even though it was pushing some of my little buttons. I realized that I have been letting my prices stagnate or even drift down, much in line with the wage stagnation of low and middle income Americans. 

For example, 8-10 years ago it was very common for me to sell vases and other vessels for $400 and up. It wasn't a stretch, I did it all the time. Most of my work was well over $100, I made very few pieces for under $75. The work I was making at that time was very labor-intensive. I was always pushing the price as high as I could, and I had no problem with it.

But I also wanted to develop less expensive pieces to broaden my market reach, so I did. Then my etsy shop took off, and over time the only things I was making were the less-expensive pieces, cause that's what was selling like crazy. I literally did not have the time or focus to make more elaborate, more expensive work. And over time I basically painted myself into a corner with the $44 item.

Oh, and bored myself to death too.

And now I've gotten more cautious about pushing my prices higher. I did do a nominal price hike on most of my smaller items last year for the first time in ages, but I've been reluctant to take a hard look at the way I've been pricing my newer items. I think it's underpriced-- I know it is-- but I also want to get it out there. I'm still developing and learning a lot and quickly moving up the learning curve so I don't want to get overstocked on work. I want it to move. But then I have to think about setting the expectation. If I underprice too much for too long, it makes it harder to get the prices up to where they belong later.

Pricing is tricky for artists, it's one of the most common struggles we have. My glassblower friend made the point that when you get into a certain market-- the high-end market-- price is not the first thing that is considered, and usually doesn't represent a barrier at all. Even in the lower-end market a price differential of 20% will not stop the people who really want the thing you are making. And pricing too low has the unintended effect of making people value the work less. Even wondering what is wrong with it.

I walked away from the conversation realizing that I cannot continue to be passive about my prices, that I have to think about what the work is really worth and price more appropriately. What about you? If you are an artist I know pricing is something you have to contend with, what are your thoughts? And if you are a buyer of art and craft, what do you think about when you are considering the price of an item? I would love to hear your thoughts.