Pricing in Dollars

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Original Post

Message from U.K. seller
I have just listed a Handbag charm and have priced it at $6 including postage. Is this a good price. Too High or Too Low? Advice Please x

Posted at 6:29am Apr 23, 2009 EDT

Responses

crochetgal says

For me to ship a small packet from the US to England will cost me $1.50 plus the cost of the envelope ($.40) so about $2.00 in postage.

So you are charging $4.00 for the charm itself. Based on that, if you were to wholesale it, you would charge $2.00 each, so your cost of materials would be between $.50 and $.75.

Does that sound about right?

What you should do is take into account your cost of materials and your time, and base your price on that. Then, figure out what the postage will cost you.

Posted at 6:41am Apr 23, 2009 EDT

artangel says

Talkingbeads - I'm in the UK too and find this currency convertor helpful - www.xe.com/ucc.

Posted at 6:49am Apr 23, 2009 EDT

ffflowers says

Your postage from UK to the US will be a minimum of £1.68 - just over $2.50 at the moment. Then you need to include the cost of your packaging and the cost of your item. Then it's up to you to decide whether that price is right for you - good luck!

Posted at 6:55am Apr 23, 2009 EDT

This may help you too. It is the etsy fee calculator.
www.rolbe.com/etsy.htm

Posted at 6:56am Apr 23, 2009 EDT

you only have an "Everywhere Else" shipping rate set -- this might deter UK buyers as the postage domestically will be less than internationally

You need to set a domestic rate by selecting "UK" from the drop-down menu, then add your international rate by clicking on the blue "add another shipping destination" link.


Come and say hello in the UK chat thread -- we're always happy to welcome & help new UK sellers

www.etsy.com/forums_thread.php?thread_id=6119796&page=281

Posted at 6:59am Apr 23, 2009 EDT

jillhannah says

1) Find out the REAL cost of mailing your items to various locations. You can include handling, etc, though if it gets too high compared to the cost of your item itself you may want to shift and up the charm's cost some to absorb the shipping so people don't freak out when they go to the checkout. Convert to US$. US$ suck right now compared to the pound. Cringe a lot when you see this.

2) Ask "what's the most someone would be willing to pay for this charm?" Try to remove yourself and your attachment to it and just think like a buyer. Convert to US$. Cringe a lot again and realize you're best off selling to other UK people and buying off US sellers because, as previously mentioned, the pound is killing the dollar. So is the euro.

3) Market your brains out. Probably to others on your side of the Atlantic because your shipping will be cheaper and exchange rates won't make your prices seem high so you can actually charge more.


I'm only half joking. US tends not to sell much to Mexico, but the US gets flooded with Mexican goods because of exchange rates and the relative cost of labor, etc. You can make value judgments about free trade and such all you want, but for Etsy sellers, it is what it is and we'll do best if we can understand the market and deal with it accordingly.

For me, the cost of shipping to the EU/UK may or may not be worth it for buyers from those countries to purchase my products. It might be worth a promotional blitz, it might not. Offering cards in Spanish and making a major push for more American business south of the US is probably NOT worth it for me, since the shipping costs will be higher AND the exchange rates mean most people would be willing to pay less.

Isn't economics FUN???

Ok, this may have to be my blog post for today. jillhannah.blogspot.com

Posted at 11:52am Apr 23, 2009 EDT

Thank you all, will check out these links x

Posted at 5:26pm Apr 28, 2009 EDT

jillhannah says

I hope I didn't scare you! Best of luck!

Posted at 2:34am May 1, 2009 EDT

kirstenann says

I use a currency converter when working out my prices they are really helpful

Posted at 3:01am May 1, 2009 EDT