Saturday, 15 September 2012

Value ~ Pricing ~ Self-worth

A couple of days ago I posted the pictures of my dribble bibs on my Facebook page.  Someone asked how much they were so I told them the price and was immediately undercut by someone (on my own page).  I laughed when I saw it and, after someone commented on the woman's rudeness, I removed the comment.  I had to admire the guts of the person but it got me wondering about her pricing, the value she puts on her time and the costs she incurred without her actual time included.  My own bibs are £3...she quoted £1.50 for the same thing.  Is she making any money at all with that price?!  I seriously doubt it.  I then doubted my own price (as you would) as I know that you can get 3 for £6 in Next.  But, mine are made by me, not someone getting a ridiculously low hourly rate, mine are unique, made to order for the customer.  They are far from the most expensive that I've seen on the internet, but nor are they the cheapest either.  Do I make a lot of money on them?...certainly not but I don't give them away either.  Maybe I should send a link to the woman for this might get her thinking about the value of her own time ;o)


  1. I find it so hard putting a value on my time. Wish there was some kind of formula!!

    I can't believe the cheek of the the FB commenter!!

    1. I do too Claire, and I know I don't charge a full hourly rate on my things either, but making no money at all just to get in there first seems a bit ridiculous.

  2. Yes, I can honestly say that for me deciding on pricing is BY FAR the hardest part of making things for sale!

  3. Oh, I struggle with this hugely and I feel for you being undercut by someone when your prices are already very, very reasonable. As you say, if someone wants a cheap bib, they won't be looking on your website or Etsy, just like if someone wants a cheap belt/diary or keyring, they won't be looking at my Etsy shop either!! You haven't asked people to buy from you, you have created designs and individual pieces for people who might like to have something unique and special and of course this is going to cost more than something mass produced abroad.

    You've been undercut, I suspect, because it's fun to sell things and this person I suppose figures that the only way to compete is to make her items cheaper, which is doing herself down more than anything.

    Do NOT worry about your prices!!! I unpacked my parcel from you today and out came lovely, quality items which I could not get anywhere else in the world and that means something these days. I think it's a huge achievement in the face of so much mass-produced stuff that an individual can compete and sell her hand-crafted goods and have a thriving business and I would be sad to think that you'd put all that effort in and weren't getting a fair price in return!!! From a very happy customer! xxx