Help Advice on Price

  1. This forum is soooo helpful. From what I have learned here Etsy.com is the place to sell my bags. I have looked and couldn't agree more. Now I need your expert opinions on what price I should be asking for them.
    Because they are totally handmade by me from "patterns to polish" they take roughly between 2 days and up to a week to make.
    This one took about 3.
    So here is some info on the bag and pictures. Please be brutally honest. Thanks Satchelman.
    It is made using 2mm firm waxed olive leather with a calf like feel.
    The bag has then been hand stitched with 18/3 waxed linen thread using saddle stitch.
    The strap is adjustable up to 50 inches long. It is also completely detachable from the bag so that the ‘fish tail’ handle on top of the bag maybe used in its place. The bag measures 15 ½ inches wide by 10 inches high by 3 inches deep, with the front pocket measuring 6 ½ by 11 ½ by 1 ½ inches.
     
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  2. I'm not sure any of that is going to be relevant to the question of how you should price them, if your goal is actual sales, which I am assuming it is, and whether etsy is a good venue for you, and I am assuming that you have done all the appropriate analyses and determined that it is.

    In order to know what to charge for them, see what your competition is charging - and how that's working out for them.

    From there, you have basically two modules to choose from - put in even MORE time and effort than went into manufacture and try to market them as so superior to that of the competish that a higher price is justified, or stick with the tried and true and just undersell the competition just enough to leave a mark, but obviously staying well away from that dreaded point of diminishing returns - and red ink!

    Which you choose depends on your marketing skills, or your ability to obtain the use of someone else's marketing skills and how much additional resources you are willing and able to allocate.

    Of course, once you establish a name for yourself, you will have the option do like the rest of them and charge whatever the "market will bear," or you can take the proverbial road less traveled, it's all up to you!

    I hope you will sell lots of bags!

    If you don't mind a suggestion, you might consider marketing some of your styles as briefcases/laptop bags...
     
  3. Thanks Shimma. Good advice. Etsy is an avenue I need to get my bags selling for a reasonable price (even if it is less than they are worth ) to get my bags out there. Hopefully I can reach a point where my asking price will be what they cost me to make in terms of time and everything else. For now I am just after a ballpark figure of what anyone would pay for such a bag. If I get enough response I can get some sort of average figure . Cheers Satchelman
     
  4. I think you are more likely to get it on etsy, even eBay.

    Pretend you are a consumer, looking for the product you want to sell. See what people who are selling that product are charging.

    Even if you have 80 people reply to this thread with figures, it will not be as valuable to you as seeing what 20 people actually paid! KWIM?