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How to calculate price when selling knitted toys & other items
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Jul 22, 2012 07:03:46   #
Xiang (a regular here)
 
Does anyone have any information on how this is done, please?

I do know that the cost of materials is included, but is time charged by the hour?

How does one decide on the hourly rate, or is this charge calculated differently?

Any information would be appreciated

Thanks

Xiang
 
Jul 22, 2012 07:17:44   #
foxglove
 
I was told by our craft shop owner to double the cost of making the toy/garment and that will give you minimum price to charge. It is up to you if that is what you charge or if you charge more.

As you would want to charge at least £2-£3 or more an hour (or the equivalent In Australian currency) your prices could be above what people can afford or want to pay unless it is a one off.

It would be different if you were making a bespoke item i.e. to a persons personal measurements with expensive yarn. To my mind that is the only way to actually make a decent profit.
Jul 22, 2012 11:17:31   #
Xiang (a regular here)
 
foxglove wrote:
I was told by our craft shop owner to double the cost of making the toy/garment and that will give you minimum price to charge. It is up to you if that is what you charge or if you charge more.

As you would want to charge at least £2-£3 or more an hour (or the equivalent In Australian currency) your prices could be above what people can afford or want to pay unless it is a one off.

It would be different if you were making a bespoke item i.e. to a persons personal measurements with expensive yarn. To my mind that is the only way to actually make a decent profit.
I was told by our craft shop owner to double the c... (show quote)


Thank you for answering, this is similar to Quilt pricing. I make dolls that are featured to look as close as possible to the receivers features
Jul 23, 2012 09:00:34   #
bright
 
Another approach is to see what similar products are selling for and then adjust your price up or down a little. Best of luck.

Your doll is so cute!
Jul 23, 2012 10:03:23   #
faithphoenix
 
I have only lately become interested in knitting toys - in particular Beatrix Potter's characters. The patterns by Alan Dart are sold here in the UK for astronomical prices e.g. £51 and so the finished articles are being sold on e-bay for around £15-£20 for a toy duck or a toy rabbit.

I think that apart from the cost of the materials, the question of "supply and demand" must be uppermost. Knitted known characters (e.g.from Disney such as Pooh Bear etc.) would command a much higher price than a generic teddy bear unless it was a super special pattern (see Peteer Gregory Kassapian's "Groomed to Perfection" bear pattern Leaflet EX010.


Having said that, Bright's advice to check out the prices of "the competition" is good advice. Good luck with your plans.
Jul 23, 2012 10:16:35   #
msusanc
 
And be careful about licensing/copyright/trademark issues when selling a known character such as a Disney. Don't know about Beatrice Potter, but those have been around for a long time so might not be licensed. However, I would not take it for granted -- find out if you need to be licensed to sell those characters.
 
Jul 23, 2012 11:01:06   #
faithphoenix
 
msusanc wrote:
And be careful about licensing/copyright/trademark issues when selling a known character such as a Disney. Don't know about Beatrice Potter, but those have been around for a long time so might not be licensed. However, I would not take it for granted -- find out if you need to be licensed to sell those characters.


That is a good point.

As for Beatrix Potter characters, I understand that the licence has expired in the US (not sure about Australia)
Jul 23, 2012 15:40:27   #
frostyfranny
 
I recently sold a hand knitted zebra for £6 the first day I had it on my craft fair stall but I have seen exactly the same one for £17! but she hasn't sold it and it's been there all week. My matinee coats and small cardigans I sell for £5. I would rather sell them cheaply than not sell them at all. It's impossible to charge for your time but my time is my pleasure.
Jul 23, 2012 17:47:03   #
Carlyle
 
I was told that 3 times what the material cost to make the item was a fair price for church or charity sale, if this is how you earn money, you might add something for your time.
Jul 23, 2012 17:58:05   #
bright
 
msusanc wrote:
And be careful about licensing/copyright/trademark issues when selling a known character such as a Disney. Don't know about Beatrice Potter, but those have been around for a long time so might not be licensed. However, I would not take it for granted -- find out if you need to be licensed to sell those characters.


I have found that if I write a letter to the license holder and promise not to change the item in an unsavory way, they will usually give permission.
Jul 23, 2012 21:39:43   #
Dreamweaver
 
The rule of thumb used to be 3 times the cost of materials.... I think 4 yimes is now the norm.... This does mean the cost of materials in that doll..... not adding in a whole skein prie if you only used half.... If this rule makes the item too expensive, you may have to adjust... In weaving, I actaully have a clock that I plug in or unplug to track all the time spent on the object and then charge for the materials and a reasonable hourly rate... This makes hand wovens very expensive though..... so I do try to find things that are fast to do and reasonable yarns....... You also have to consider where you are selling... A holiday bazaar may not command the price you would get for a custom order on Etsy....
 
Jul 24, 2012 00:27:31   #
North Pole
 
Out of curiosity, how does one go about finding a place, e.g. bazaar, to sell hand-knitted objects. Although I am deeply 'religious', I don't belong to any church. If there is a church that has bazaars, who do I call to find out about them? I'm sure the priest or minister does not want to field calls like that.
Jul 24, 2012 01:59:43   #
bright
 
Usually, a house lady answers the phone and knows or they may have websites with events calenders. Also, chamber of commerce, libraries, local newspapers and their websites are good sources.
Jul 24, 2012 04:20:31   #
Mary Cardiff (a regular here)
 
I once made toys for a craft shop,But under priced them ,they sold very quickly.But I was quite shocked at what some people were pricing the badly made toys,
Jul 24, 2012 05:33:46   #
Nancy0524
 
i always price mine pretty inexpensive. I figure that I would rather sell items than to have them priced high and have them just sit on my table. i sit and knit or crochet anyhow, so i don't consider my time into it that much. I only really do that on special orders as I figure I should on them because it is taking away time from making my product to sell at the flea markets.
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