Sunday, February 23, 2014
PRICING
I usually do not include pricing information in my articles about refurbishing furniture because everyones demographic is different. Yesterday I did offer a purchase price for a desk I bought and I have received many emails asking for advice regarding pricing.
The majority of my blog followers are US residents and across the board all of our demographics are way different. I encourage everyone to understand their own market and establish who their customers are without comparing to someone living elsewhere.
How many of us read a post and start to compare what is written to our own lives and abilities. Plz use common sense when information is offered and rely on your own judgment for decisions.
What makes us unique also makes us noticeable!!
Now that being said … I don`t feel as if I have strict rules regarding prices however I will offer some general thoughts.
I value my time so furniture that needs repair needs to be extremely cheap … $5 to $20 I spend countless hours fixing broken furniture and I want room to compensate for the time.
Look around you, ask fellow colleagues in your area for advice, and do your own research. Hard work always gets you there.
Look around you, ask fellow colleagues in your area for advice, and do your own research. Hard work always gets you there.
Over time you get to understand what your market will bear for certain pieces and how much you can put into pieces. This is going to be trial and error for many starting out.
A perfect example of different demographics ...
I had just finished painting and upholstering some dining chairs and when I advertised them a US follower suggested my asking price was outrageous because she got the same chairs for half the price where she lived. My asking price was $110 each, the same price I sell most of my chairs for. The deal she was fortunate to get was in the US, where fabric costs are less, paint costs are less, shipping costs are less, and so on. I also live in the most expensive area of Canada.
A perfect example of different demographics ...
I had just finished painting and upholstering some dining chairs and when I advertised them a US follower suggested my asking price was outrageous because she got the same chairs for half the price where she lived. My asking price was $110 each, the same price I sell most of my chairs for. The deal she was fortunate to get was in the US, where fabric costs are less, paint costs are less, shipping costs are less, and so on. I also live in the most expensive area of Canada.
Here`s a hypothetical example of how much goes into a piece, I say hypothetical because with every piece there are a large number of variables.
I pay $20 for a single nightstand at a second hand store.
I add legs to this night stand costing anywhere from $20 - $40
A can of ASCP cost $56 here in Canada so take into account the cost for paint
A can of AS wax cost $39 here so add another cost for the wax
I use a paint sprayer so there is equipment costs and electrical
Supplies and tools used – wood, saw, drill, screws, nails, appliques, filter, water, paper towel, brushes, sandpaper, filler
Hardware usually needs to be added at a cost of $10 - $20
Depending on the amount of work it can take up to 8 hours over 2 days to finish.
Depending on the amount of work it can take up to 8 hours over 2 days to finish.
And lets not discount my camera, computer, Internet, and all the time needed to photograph and post on line. I ask $200 for this nightstand, averaging all costs out I might get paid $100 for all the hours I put into redoing this piece of furniture.
You must know when to walk away from a purchase if you don`t want to lose money.
There is another piece waiting around the corner.
There is another piece waiting around the corner.
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