Pricing is SO hard. There's a reason there are about 10 full pages of Google search results when asking "pricing your pottery". Google also thought it kind to include the search "is pottery a profitable business". Feels a little cruel but I digress.
Here's how I've settled on pricing my pottery. Ultimately, I believe that your work needs to match the price- which can of course be subjective, but, assuming pieces are well made, well glazed, and desirable sizes and shapes... this is what seems to be working (for me!):
- I have a spreadsheet where I calculate out approximately how much in raw materials my work costs. I factor in the price of my clay, glaze*, and average cost of a firing (divided by how many pieces fit in my kiln). I take that number and immediately double it. Because admin costs. And I probably underestimated something somewhere.
- Next, I take my gut reaction of how much I *think* my item is worth. For me, this means two things: first- I would rather have that dollar amount than the item. (If you ever see an item and think "whoa Amanda priced that HIGH. It's because I actually love it so much, I might rather have it than the cash.) Second- will I get some people who pass on it because it's too much?**
- I plug in my gut reaction number and gauge how much of a "profit" I would make. I then divide that number by the number of hours I spent making the item (you know, labor costs). If that number is far too low for my comfort, I consider how to adjust things. If it feels reasonable, I run with it. I additionally take this opportunity to knock 35% off of my price and consider how I'd feel with that as my sale price. Why? Because 35% is about the margin I strive for when wholesaling my work! If I feel pretty good about someone else getting 35% of the price AND paying for my materials AND my labor, it's generally the "right" price!
There are a lot of ways I've managed to reduce cost and increase the margin by which I pay myself. A big one has been adjusting my glazes and clay bodies. A big reason I switched to what is a far pricier clay was actually to reduce my glaze costs. While I'm now spending about double on my clay, I've cut my glaze costs by about 70%. I further cut glaze costs by reducing the number of glazes I use and increasing the quantities I buy in. Buying bulk has also allowed me to take advantage of better sales, largely because I go longer between needing to get more! ***
So where does this leave me? Well, probably less profitable than I could be if I had a different style of work that was less labor intensive. But I love my pieces, and I'm covering my base costs- including having paid off the start up costs associated with pottery (looking at you wheel, kiln, and studio set up). I'm also happy, and that's definitely got a price!
If you'd like to chat more about creating your own pricing spreadsheet, send me an email! I'd be more than happy to share what I've got! (amanda@potsaf.com)
*When calculating glaze, I figure I can fully glaze 8 or so mugs made with 1.2 pounds of clay with 1 pint of glaze. Rounding up, I figure 1 pint will cover about 10 lbs of clay (give or take), and at about $20 per pint, I'm figuring $2 per pound of clay is spent on glaze. This is a REALLY rough estimation, but it gives me a jumping off point to consider about how much I'm spending per piece.
**Allow me to explain. Several years ago I worked with a business coach who discussed with me the value of my work. She said that if everyone says "yes" immediately, you're probably priced too low. If more people are saying "no", you're probably priced too high. Or it's just the wrong venue.
*** As of this writing I am using KY Mudworks Kota and Iceman clays, alongside their Super Clear glaze and purchasing interior liner colors from a friend (or using other glazes I already own!)