How do you price your pens?

[Chris Yarish]

I have only made 3 pens so far and already people are asking how much I'd sell them for.

Obviously I'd like to make back my costs, but for say, a slimline pen (which I haven't made yet, but the math on this one is easy) where a blank costs maybe 2 bucks, the hardware maybe 2 bucks, plus a few dollars for sandpaper, CA etc.

Invested: $6

Is $10-$15 out of line for a pen of that "calibre"? I'm not out to gouge anyone, nor do I want to short myself selling a pen to the neighbor of a friend of a colleagues spouse.

Thanks.

[Tim A. Mitchell]

I have not made a pen, but your price seems low from what I have heard. You are right, your materials are pretty cheap on that pen. You also have some investment in tools and shop space, etc. Not to mention, how much time do you put into making that pen and how much is that time worth.

While it does not seem as though you want to approach this as a business, you should look at all the hobby costs, especially your time. It helps to keep it going for what you want to do, even though as a hobby, it will likely not generate enough to pay for all.

[Scott Hubl]

Slimline- $20.00 - $25.00. ~EDIT HERE: (That would be for a plain wood blank like say Walnut, as others have said, Exotics or Acrylics that cost more add to the base costs, if you do any cutting to add other woods adds more too.)

I bought a black butter soft leather pen case on ebay cheaply it holds 24 pens and looks like one of those date books people carry. Open it up, and they will come, once 1 person notices them other just have to SEE too. And usually they sell themselves.

You can get Business card software(20 bucks give or take) and the business card stock really cheap, at walgreens or even the grocery stores, design and print up a bunch and hand them out as well, calls will come in when they need a gift to give. Thats just for super casual selling, I mostly just make them at the holidays and give them as gifts. But it isnt hard to sell pens if you want too, unless your in a real rural area , where I am theres lots of people from all walks of life. Just go hang out at places and let em be seen.

If you go to say Down town Chicago at lunch time, No Slims only higher ends for the yuppies at a higher cost. ~ END EDIT.

Anything less and it's not worth the effort and you hurt the turning community as a whole selling that cheap.

Do a Quality job, and charge accordingly.

[David Wilhelm]

Here is a simple formula I use to determine a base price for my pens.: cost of ten kits + cost of bushings + cost of drill bit = base price of two completed pens. Now I make a price adjustment for the material the pen is made from. Some exotic woods, such as pink ivory, are quite expensive, while American walnut doesn't add much to the expense, however if you have curled or twisted grains this will add to the pen. You can go up in price or go up in sells. If I'm turning Antler the price goes up. If I'm doing anything out of the norm that requires more skill and effort the price goes up. Keep in mind the market area as well so your prices do not exceed the pockets of potential customers. One other thing. I never show more than 18 or so pens at a time. My customers for the most part come to me. I know who likes what and so forth. I've found the more you have the harder they are to sell. It's like tomatoes. They want to pick up each one and look at it. Best of luck to you.

[Steve Mellott]

I have a friend who routinely sells his slimline pens for $35. This covers the cost of the pen materials, his time, his expertise and the cost of his lathe and associated tools. If you've ever shopped for an upscale pen in an office supply store, $35 is not out of line.

[Greg Cuetara]

If you really want to get a good handle on pen pricing go over to penturners.org and do a search through their forums and you will find more than you can read in a year on pen pricing. I agree with all the above statements. One thing a lot of people don't really think about is their time. How long does it take to make a pen? 30min...1hr...if you were to bill out at $20 / hr, which is really cheap, you would be looking at $20 / pen at a minimum.
Good Luck,
Greg

[Andrew Derhammer]

Take the price of materials and multiply that by 3 and add in labor to that.

[Greg Just]

Typically I charge 4-5 times the cost of the materials

[Bernie Weishapl]

I sell my slimlines for $28.50. I figure my time at $20 per hour and about $8 for materials. Like David said if it is expensive exotic wood the price goes up accordingly.

[Jon Lanier]

I multiply the cost of the kit by 4. So, a Platinum Atlas is 6.99 x 4 = $27.96

This is my base price, I then add any special cost, like a fancy blank or any special inlay work I may do. I've found this is the more simple way of figuring cost. I don't keep track of every little detail of what went into the pen....

... glue, finish, electricity, tool usage...etc. That is for them professionals.

[Chris Yarish]

Thanks guys....you can likely expect a few more questions about pens from me.

Does anybody object to me PM'ing them with some of them?

[Benjamin Dahl]

It also really depends on who is buying and what your market supports. 20-30 is a good price for slimlines. If you are trying to set up a little business you could do discounts if more than one is purchased. I have sold individual pens and larger orders to some companies. My experience was that the companies liked to see individual prices and a price discount for 10+. You could do a similar thing with individuals, say 30 a piece or 2 for 50. Good luck with it.
Ben

[Jerry Sambrook]

The other thing to keep in mind is the physical area you are selling in.
$20.00 gets you a Bic in NYC, and $60.00 is not out of line, but in Vermont (rural) $20.00 would be a good asking price.
I live on the outskirts of the Berkshire Hills, and if I travel 30 miles west, I can get twice what I do by my house.
Lastly, it also depends on the "look" of the pen.
I was showing one to a co-worker, his boss came by and asked if it was for sale.
I said, no, not yet.
He offerred $125 on the spot. SOLD

Just my take on things
Jerry

[terry richards]

Your display will add to the perceived value of the pen. If they look elegant, they will price accordingly. If they are simply laid out on a table or packed in clear plastic, the price goes down.

PSI has a "rosewood" display case with a drawer and a glass top that holds a couple dozen pens in nice style, nested in black velvet. The price bump-up from a few pens will pay for the display.

Craft Supplies sells black velvet pen bags for under a dollar that are pretty swank. These also add to the perceived value far in excess of the buck they cost. (Be sure to peel off the "Made in Taiwan" stickers)

With a nice display and one of these bags, you can easily gain $10 on the price - your same $25 pen now instantly becomes a $35 custom gift item.