Completed Intarsia Woodwork – How Much Can I Sell It For?
How much may I charge for my completed intarsia woodwork? That is the question I am frequently asked. So I know that at least a few of you out there are thinking about trying to advertise your work.
So, how much are they worth?
Just Beginning Your Intarsia Path – A Common Situation
You’ve started a whole new and exciting woodworking skill called Intarsia. You won’t be able to get enough of it. Your family and friends are really thrilled with what you’re producing. As a result, each new piece just finds a home.
You are free to give your completed things to your close family and friends. However, friends of friends start demanding goods. It happens to you that while you like generating things, there are costs involved aside from your time. And, while you may not want to get paid for your time, it may be beneficial to receive some sort of compensation for your efforts.
Disaster in the Middle Intarsia
Perhaps not a disaster, but you begin to think it might be a good idea to sell a few intarsia pieces to recuperate costs. And how much easier is it to persuade the boss to accept a new machine in your workshop if you’re exhibiting a return? “Nicely dearest coronary heart, I’ve already made a number of sales, and with that cash, I’ll be able to buy a brand new – insert your desire right here – so I can make my intarsia a lot more effective after which I’ll simply be capable of getting round to creating that new espresso desk you’ve always wished and so richly deserve.” Woffle, woffle, woffle
The Big Question – “How much are they worth?”
How long is a piece of string?
The guiding principle. “They’re worth whatever prospects are willing to pay for them.”
That doesn’t actually tell you anything. So let’s have a look at some price scenarios.
The Instructional Strategy
A Master’s degree in Business Administration will teach you how to achieve something like this. First, compute your total manufacturing value.
Material Costs
* Timber and any trash – $ Very little or no
* Plywood backing – $ A little amount
* A few pennies for hangers from a frame store
Consumables
* Sandpaper – more expensive than you may imagine, but not by much.
* Glue – a few additional cents
* Varnish or oil finish – a certain amount of dollars
Overhead Expenses
* Workshop lease – it is most likely your storage shed or garage, although anybody formerly had to pay for it.
* Phone
* Electrical power
* A broom for sweeping
* etc
Advertising
* The cost of a stand at a local flea market/automobile boot sale.
* Travel value to get there
* Your entire day spent sitting behind the table
Revenue
* The cream of the crop that you just deserve in addition to your income for running your personal business. And now for the big one.
Labor
* Your local mechanic charges $50 (or $60 or $70 or $200) per hour to fix your car. And, in any case, the task was most likely done by the first-year apprentice. You worked for 84 hours to create your masterpiece (you meticulously recorded the hours) and it appears to be fantastic. Because you are unable to completely comprehend the pricing for your project, $20 per hour may suffice. That totals $1680, plus $50 for all materials and other expenses. $1700+. That is unlikely to be found in the local flea market.
Okay, let’s be a little less daring and work for $5 per hour; I don’t really need anything, and it’s just a hobby. And I am certain I should have obtained these hours incorrectly; let us pretend it was only 40 hours of work. So $200 plus a little extra for supplies is $220 total. That sounds really reasonable. So, despite the business degree, what we’ve really done is make a bet on the price. Certainly, there is a better way. There’s nothing improper about you.
Separate sitting all day in the sweltering sun at a neighborhood flea market hoping for a punter with $220 in their pocket is okay on sometimes, but it is hardly a consistent, predictable money stream. Oh, you say, but if you take your art to a nearby gallery, they’ll want 40%, 50%, or more. And all they have to do is cling it to their wall, despite the fact that I had to perform all of the onerous yakka to make it. Theft on the highway. However, if you follow the gallery path, you will not have to stand around all day, every day looking for opportunities. They do this. This is why you pay them. They generally have to spend money to make their gallery appear nice, not you. We always attempted to manufacture high-quality woodwork so that we might curiosity one of the top galleries in the country. The solution has been implemented. I’m quite willing to pay their lesser rate as long as they keep them going.
The Rule of Two Months
I take my finished woodwork to the local craft gallery and chat with the owner. We settled on a starting value and his percentage after some discussion. Pay attention to the proprietor. If they’re any good, they’ll understand their market. Your beautiful intarsia will be hung on the wall. Hopefully the first item the consumer sees as they walk into the gallery.
* If the work sells in much less than two months, it is too cheap.
* It is too expensive to market if it takes more than two months.
* And, you guessed it, if it sells in about two months, the value is good.
Okay, so you now know how much you can charge to market them. However, based on the time it took you to build the first one, you could only be earning $5 per hour.
So, what have you gained?
You can’t rely on your prospects to compensate for your inefficiencies.
So, what can you do about it? There are several strategies for streamlining your production process. You’ll build your twentieth frog far faster than you did the first. As you gain experience, you will be able to discover a wonderful variety of shortcuts. However, that is a separate topic.
Source by Steve Bundred