Flipping Pt 4. Ads/Pricing

Ok….if you are catching up, we have had three posts regarding how I price my items on CL.

Parts I, II and III are here..here..and here……

Consensus was, that I was pricing myself too low.

So, I gave you a challenge on two benches I posted.

I asked you to guess what you think I sold one for and tried to sell the other for.

I am not picking on anyone.

Everyone had fair prices…..great insight….but when asking why I price my items the way I do…..this comment gives us a couple of things to look at:

Brittney 

So when I started selling tole painted items years ago when tole painting was cool I was told the best way to price something like that is what you pay for all the items it takes to make including an estimate on the paint X 2 and that would be a good sellable price.  I believe it could work for this type of thing to.  I don’t think in any way that the 2 benches you have on here should have been listed at the same price.  There is so much difference in the 2 benches.  I’m no expert but that is my opinion.
I am LOving your blog and appreciate all that you share!  Good luck with all your projects and getting them sold. 

I LOVE YOU BRITNEY!!! AND IT’S A GREAT IDEA.
Brittney’s method would work….I am not doubting that…..BUT…..
The reason I don’t feel it works for me….

Let’s use the same two benches. Her method is: what you pay for all the items it takes to make including an estimate on the paint X 2 and that would be a good sellable price. 



Guess what? I paid the same for both benches.


She follows up that comment with what everyone else is thinking…. I don’t think in any way that the 2 benches you have on here should have been listed at the same price.  There is so much difference in the 2 benches.  I’m no expert but that is my opinion.  

So….Using the “fixed” method, that she describes…doesn’t work…as both benches would have been priced the same. Her opinion is not wrong either….because I priced them the same….and just like she stated……”They should not have been listed at the same price”.


GREAT JOB BRITTNEY!!! 


Her idea is NOT wrong…..it just doesn’t work in this circumstance.

Want more mud in the water?

I think the max offers yesterday were $100.00 but the majority were way lower……..

I do not think that is wrong either….remember, I bought this on CL for cheap…….so I AGREE with cheap ; )

Guess what I listed them both for?

Ready?

$125.00.

The one with storage, IT sold the minute I listed it. I had other people asking for more……asking if I could make anymore…..it was crazy. Storage was not even the appealing factor…..

AND NO ONE….NOT ONE SINGLE PERSON…. ASKED FOR A LOWER PRICE!

I really priced this one too low!

Ready for all cheapwads, like me, to be shocked????.

Well……

I believe…….a bench like this, could have sold for $275. At least.

I TOLD YOU CL IS AN EVER EVOLVING PLACE.

My opinion on why this bench is so desirable and people would pay more.

I’m sharing my secret thoughts……don’t tell anyone……

It’s really rather simple.

It looks like “A PEW“!!!

Gazunti. (get it??…”ah- pew”…like “ah- choo”?)

That is really what I think gives it a higher dollar value.

After this happened….I did more research……

Pews are going for $300 to $400 on CL and sometimes more.

The white “bench”….it cannot even be classified a “pew” (bless you)….that bench look….is not as desirable.

That would have sold for $95.00.

I believe. 


I just learned that myself.
Thank ya’ very much.
I took another one for the team!
Dang it.

Ok…..
I’m boring myself to death.

Quick ad secrets:
Here was the ad.
I will put in bold….”key words” and in (parenthesis…my thought beside that phrase)

Shabby Chic coffee table. This is an antique and hand-made table, (quality and age) that I acquired and “up-dated” to the shabby chic style. The corners of the table are slanted down by wear and it is extremely heavy. (slanted edges show definite age and heavy tells them that it is good wood…quality again) I cannot hold this table and the price is FIRM, (this is called the “take-away”…..I just took it away. It makes a client want it more and with saying I can’t hold….let’s them know to call quick and get in line) as I have posted this for less than what I would consign it for. (honesty AND also informs them that they are getting a deal)All props used in the display of this table are not included and are used for photo purposes only on my blog www.youaretalkingtoomuch.com.
Yada…yada…yada…..
Ok…I am going to go into the CL vs Consigning in a later post. I know I am losing BJConklin, Vbg and Nordicgirl…… ; ) They can only handle so many tutorials.
Just so you know…..My “pew” style benches will not go to consignment as I can get a higher profit on CL.
How confused are you guys?
Am I like the really bad algebra teacher?
Do you want more?
Let me know!
Love,
Me




PPS.
If you are here from a great linky party…check out the newer post and follow ups to this post. Follow me on Facebook and stick around! I can’t wait to meet you! Love, Me

Find me here also...

             

Comments

  1. Redefined Goods says:

    Of course we want more! :)

  2. Francy says:

    No, no more please…pretty please. I don’t want to think about math or selling, I just want to see pretty and inspiration!!! I don’t want to sell anything, I just want to buy it on the cheap or get a steal from GW, get inspiration and do it my own!!   :-)

  3. reese_1966 says:

    I need these tutorials. I haven’t started selling yet and I really want to.  I need motivation!

  4. Katie @ Wildwood Creek says:

    Love all these tips!  Yes, give us more, please and thank you!

  5. Snscarrier says:

    I’m not even sure where to begin… I just found your blog and was reading through your posts. They are very helpful. I started refinishing furniture about a year ago, and I setting up my very 1st booth at a local craft fair in about 3 weeks. So I am really new at this, but I love love love doing it! So thanks for all your pricing tips. Also you should know I have NOT laughed this hard in ages. I read your D-I-V-O-R-C-E post and my neighbors  probably think I have lost my mind! Rebecca, I was hollaring I was laughing SO LOUD!! So again I thank you, I really needed to laugh hard like that. I look forward to reading more :D

  6. Laura says:

    I absolutely LOVE these posts!!!!!!!!  You are sharing such valuable information!!  It’s truly priceless!!!!!  Haha!!  I didn’t mean that as a pun!!!! :)

    Pricing is an odd and hard thing.  I co-own a youth theater here and families pay to enroll their children (we draw mainly from the home school community and they use it as art credit) and pricing it is one of the hardest things we do. 

  7. Brittney says:

    So, I’m feeling kinda special that you quoted me in this post!!  So I read it yesterday and thought long and hard about it, even lost a little sleep.  Since you paid the same amount for them I think the lesson would be that you spent far too much on the white bench and that could be a learning lesson in the future.  Also, because you know there is a high demand for the “pew” style bench the next time you come across something like that you could price it higher now that you know what people in your area are looking for.  I think in your case I would do a percentage mark up and it might be a trial and error thing.  You could do anywhere from a 100% mark up to a 150% mark up and you could do bother depending on if you know what people are fighting over like the “pew” bench. 
    For me now that tole painting has pretty much been 6 ft under for awhile now I have switched to sewing.  With sewing I give myself at least minimum wage for the time I spend plus the cost of materials and I even add in a whole spool of thread to that cost!  You could do something like that where you keep track of your time and give yourself an hourly rate and if something took you far too long to complete and you don’t get your money back for your time you know you shouldn’t be doing another project like that.  Unfortunatly we live and learn at our pocketbooks expense. 
    Anyway I still love what you are doing and I love your blog posts!  Keep up the great work! :)

  8. Meghan Bash says:

    I HATE TUTORIALS! BUT, I decided I love your blog so, I read them all anyway! Also, I am thinking about “flipping” furniture myself as I always spend my free time fixing things up and making them pretty and everyone I know says I should try to make some money doing it. So thanks for these tutorials, I suffered through all the reading and actually am learning something, I guess. (Do I sound like an annoyed teenager yet? This is what my teenagers always sound like).
    BTW – I will post pics of my fireplace re-do soon………

  9. Janet says:

    great info. Loving it all so much.

  10. Good grief…here is what happened.  I have been reading all your post with a lot of interest.  I was about to leave a very long comment on the pricing of the redo blue coffee table (which is fabulous by the way) when our power went out.  Now we just got our power back on from the hurricane so I was a bit (lot) upset.  Come to find out a squirrel (poor thing) had jumped on a wire at a transformer and blew it up along with himself.  Anyway…the workers had us back up and running lickety split…yay!  But I lost the comment I had just typed.  New comment……. I love your blog.  

Speak Your Mind

*