I have so appreciated all of your advice recently as I am just starting my shop! I am back for some more advice now about pricing.
I refurbish antique leaded window frames and turn them into vintage-style mirrors. My shop is quite small at this time, as the process to make each mirror takes quite some time (minimum 30 hours). I posted my third mirror yesterday, and hope to have up to five by the end of the month. Still, I've had a lot of trouble getting many views or likes (let alone sales--I've had none), I think partly because the shop is so small, and partly because the items are so expensive.
Others have suggested that I post more items at lower price-points, and I am thinking through some ideas for how to make smaller mirrors or similar products, but I don't want to pursue anything new until I know that it will turn out well. So, I'm thinking the other option to get a sale is to lower the price of my items.
Currently I have listed my mirrors at $350 for the smallest mirror, and $375 for the larger mirrors. I know this is quite expensive, but I didn't think I could feasibly price them any lower. Leaded windows like mine sell for upwards of $300-$400 (and that's before I refurbish them!) and I had to buy in bulk and get a lucky deal to buy them at a lower price than that. Adding in the cost of tools and the amount of time I put into them, I really don't make a huge profit even at the prices I am posting them.
But still...no sales. So I am wondering if I should be lowering my prices? Or should I just wait it out and keep trying to promote them?
Thanks for your wisdom about this! I am so grateful for all of your advice!