pricing your work

[jmccustomknives]

Just out of curiosity, what kind of pricing do you guys put on your stuff. I'm kind of in a delima on what I can ask. I do little trade days from time to time and am trying to get in to a large arts and crafts fair this fall. While the fall event is more artsy and there will be more opportunities to sell my sculptures the trade days are more of the Walmart crowd. As such getting paid for my time isn't an option, they don't have the money and fortunatly this is just a hobby. I do enjoy being able to put a quality hand made knife in the hand of some one who couldn't normally afford one. My hunting sized knives (most narrow tang with stag/wood handles) run in the 60 -150 range. At least that is what I've been able to get for them.

[dablacksmith]

need pictures to give a idea on price...it is one of the tough parts of being a blacksmith full time ... knives are especially tough as there is a lot of factory made to compare to... 60 is a bit low but without looking cant say for sure...i make a few knives but rarely get my time from them...but ime not setup to make knives so it takes longer...

[Rich Hale]

Analyze the market. Go to any show where there are knives for sale. Find an attend a knife show. Look and see wot they have for sale and how much they are asking. Some gun shows have knfes as well but usually not high end stuff. I personnally feel if yoiu sell a knife for low money that establishes the value of your knives. When you compare others work with yours look at overall design and fit and finish. Compare materials used. If yoiu do go to a knife show go in the morning the first day it ipens and then an hour before it closes on last day. Take a lot of notes on wot yoiu first see and what is left after sales. If everything you like at first is sold you have an idea of wot the buyers pay for, and if you kept notes it will tell you how much they pay. If you see work similiar to yours selling or not it will let you know if you are in the hunt for money . If you rent a taable at a knife show and offer your work for sale, be fully prepared to take every thing home with you,,,late show discounts again establish the value of your work.

[LDW]

This may not pertain to knives directly but the following are some notes I took at a Bruce Baker workshop on selling crafts.I think it does help get a perspective on how to establish your low end pricing whether you stick to it or not. Just posting this because I had it on hand.

Establish your pricing by pricing your work wholesale. Use this to get your retail price.
To keep your material prices down you should not pay taxes on items you purchase for your craft, also try to purchase these items in quantities that allow a discount.
Mark your materials up. These materials tie up money just as if you issued a loan from a bank. A bank would charge interest on a loan. Your money will be tied up on supplies until they have all been used and the customer has paid their bill. 20% mark up on most items.
Establish your labor cost. Bruce lives in VT and uses 60 dollars per hour as his labor cost.
Add your yearly overhead. This was left kind of vague. This part was not in my notes but am adding now, As craftsmen we can judge by the past what the approximate yearly expenses are incurred other than labor and supplies. you can then assume what the quantity of items you sell in a year and divide that quantity into the dollar number of overhead to determine how much to add to each item. Bigger companies have to have a forecasting sells department to decide what items will have the most sells and distribute the percentages of overhead equally to each area. sorry for making this complicated.
Add an additional 20% to allow for reps and quantity discounts.
After establishing the wholesale price double it to get the retail price.

[jmccustomknives]

Here are a couple of pics. I want to do a show, but there are none close by. I don't want to price myself out nor do I want to under price my work. I am cheap by nature. If you had these on your table (assuming they are good enough) what would you ask? The top is a 5160 tanto forged form 5160, narrow tang/bolt through handle (stag&mahagony) and wire damascus but plate. The bottom top is a forged 5160 narrow tange/bolt through with stag/leather spacer handle. Bottom bottom is a stock removal L-6 blade, forged guard, stag&mahagony handle.

[Rich Hale]

If you wouild like my honest opinions send me a note,,,

[jason0012]

I was kind of hoping there would be some good sugestions on this one. I do bladesmithing part time and don't even try to sell the things. At my shop rate I shudder to think what I would have to charge for a knife. I hate the idea of turning them really production so I avoid trying to sell them.

[jmccustomknives]

Right now it's just a break even kind of thing, which for a hobby is good. I wood like to take the next step though, flea markets are fun and collectors can be excentric but the latter does tend to pay a little more.

[Rich Hale]

Jason and others, One thing I do often to keep track of prices is research. There are a lot of on line knfe dealeres that handle any and all kinds of knives and have prices with them. They are ever changing sites and have custom and comercial blades, and include collectables that are wayyyy pricey.
Two I am familiar with are agrussels cutting edge and arizona custom knves...Look at shapes,, handle materials, fit and finish and overall looks of the knfe,,if youi see something you like,,think about how you would make a similiar one. Shoot print out a pic and trace and make an aluminum patter to forge a blade to..see how to make a specific shape. There is a world of info on doing that and all you need to know in the books that are suggrested in here all the time...