Research. Price targeted inventory. Avoid exaggerated inflation. Dream big but not in dollar$.

That’s a super question. When pricing my items I generally search other marketplaces for recent sales. That will tell me what the market will bear. To look just at what’s currently available only shows you what others are asking, not necessarily what the item is worth.

I saw an item here that I purchased at an antique show. The price I paid was 1/3 of the asking price here. Well it’s been 9 months or more and it’s still here, so that tells you something.

Depending on the item, you may be able to find on-line groups with price charts.

Obviously you also have to consider your cost. You certainly don’t want to be in a position where you lose money.

Best of luck.

I agree with abbysattic. Research what like items in like condition are selling for. Consider how much you have invested in it. Finally, decide how fast you want to move it.

In your title you state “fair price for my idea”. This leads me to believe what you are selling is yours, as in you are making something.

Is the items in question handmade/handcrafted, designed, developed, etc. by you?

If the item is handmade/handcrafted by you, the general rule of thumb for handmade/handcrafted items is [URL removed] Your cost of supplies x 2 (which, incidentally, is also how you figure wholesale prices.)

Now, having said that some handmade/handcrafted items can then sell at a variety of prices. If no one else makes the item, you can pretty much set your price, as long as you have begun with the formula above. In other [URL removed] your cost x 2 + mark up. On some of my items, which I exclusively make, I do have a slight mark up. Say, cost x 2 = $17.50; then, I will round up to $20 or $19.99 (and in some instances, I will mark up to $25). Whatever works for you. Now, you can mark up more if you like.

Remember the cost of the item includes these [URL removed] your time to make the item, the materials and shipping if you had to order the materials.

This will also allow you to sell wholesale if you like. I have only sold wholesale 2x, as my wholesale price is slightly high due to the prices of the number of items involved. What this means is when I sell wholesale, the reseller has to mark up the items even more, which ends up making the items sell for more money than I actually sell them for. I cannot control the amount the reseller sells them for, as that is their decision. They know how much they need/want to make on the item.

Checking other items that may be similar to yours is a great way to make sure you have not overpriced your items if you do add mark up, especially on selling sites where someone else is selling a similar item. The sale will always go to the cheapest item; so, you need to keep track of what others are selling similar items for. You need to be competitive. If you are going to sell at a higher price, you need to make sure your potential customers understand why your item is priced higher and why they should spend that extra money on your item. What makes your item special and worth the extra money.

As a glass artist pricing can be very difficult but I agree with the materials x2 method. Many think art, (handmade and not the manufactured crap) can be priced too high.But if they knew what all the time and materials invested into just one piece took the prices would appear more fair. Comparison Shopping works for most things but for anything that is handmade art with GOOD QUALITY will price higher.

You the seller makes the final decision of pricing. Some of the higher priced items may set for a while but when the right buyer comes along it will sell. Some things just take patience, this I have learned.

On vintage/collectible/antique items, Google is your friend. There are several venues that provide closed auction prices. That gives me the best idea of what items are selling for. I also have to consider what I paid for the item when I bought it. If I bought high, some items I make no profit just to move them. Others, I might hang on to for a better price because I still enjoy the item and am not willing to sell without a profit. Different people sell for different reasons. Therefore, you are apt to get a varied selection of responses. Someone downsizing while still working full time can have a different perspective from someone making their living by buying and hoping to resell for a profit. If your prices are fair, I believe you will get more sales is my bottom line.

Also…you have to see the item’s condition (new, used, poor, excellent or mint….whatever will be)…Define your costs and your profit margin.

I would say it is product dependent first, then a ton of other variables.

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I do comparisons to get an idea. Then I price it at whatever I want. I’m here to make money.

It depends on how much work goes into it. For us it is based on the work done in creating and printing each item.

i list at what i need to make 50 % profit

I research everything, and view how it has sold, what it sold for, what it is listed for, and then consider my cost & time into it too. Also, if I have any books to help me with some of my items I will look in there too, and note it in my listings of what was found in what book, page, etc. I have always said that for some of those who do not sell, I don’t think they fully understand what all goes into selling various pieces. You can’t just list, and do whatever. There is quite a bit involved with listings.

The answer comes with experience. Sometimes even stuff you get for free doesn’t sell at any price. Maybe that’s why it is free. I usually do research to find out what others are asking, and condition. It also helps to look at what has actually sold and at what price. Then, look at it & ask yourself what you would pay for it. ( I am such a cheapskate) I figure out what I have in the thing, what fees I am paying, and any other costs. Then I pick a price that is above that, at least by 50%, a little more if the item is especially nice.

One way to get a ballpark figure is to search on the item and then set the filter (to the left of the listings) to ‘sold in last year’ and see what others have gotten for similar items. It isn’t perfect, but it helps. Do the same on eBay and check off Completed to the left there, too. It does help to know what similar items have sold for. Using that as a basis, be sure to write beautiful descriptions. Be complete, concise and complementary. (CCC) After that, be patient. The right buyer will be along soon.

Good Luck!