Pricing help again please, sock kit

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Pricing help again please, sock kit
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Downsizer Forum Index -> Small Business Questions, Ideas and Advice

How much would you hypothetically pay for this?

ï¿½13.50 and not a penny more

21%

[ 3 ]

ï¿½16.00

35%

[ 5 ]

ï¿½18.00

[ 1 ]

ï¿½20.00

28%

[ 4 ]

ï¿½other suggested below

[ 1 ]

Total Votes : 14

Author

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Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Mon Apr 23, 07 7:52 pm Post subject:

Penny wrote:

Silly question probably, but thinking presents and thinking women and thinking men. (I mean normal people, not us obviously) Women would probably like to knit socks for the men in their lives, most standard men won't wear pink/blue/yellow socks. So do you do browns and greys and creams etc?.

Also, If I were going to knit a first sock, I would probably want to knit a longer one, so could you scale a kit to do one pair of longer boot socks or two pairs of short socks? Perhaps just adapt the pattern a bit?

Hope that helps.

From a price point of view as a buyer, I would think..how much would I pay for a pair of handmade socks? ï¿½5.00 or ï¿½6.00? So if I'm buying the kit, I would probably not want to pay more than that, as I'm supplying the labour. I know it's Sally's time, but we all know how wonderful her stuff is, the average punter will just look at price. I think ï¿½13.50 is maybe what a punter would pay, but it's still a lot for an impulse purchase.

You would only pay ï¿½5 for a pair of handmade socks?

The average punter wouldn't be able to buy the same wool to make one pair socks for less than a tenner - even the factory dyed wools are ï¿½7 a ball

The cheapest sock kits I can find are around a tenner and that's with 100g of factory dyed wool. The hand dyed ones are about ï¿½15 with half the amount of yarn.

Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Mon Apr 23, 07 7:56 pm Post subject:

MarkS wrote:

[
The marketing & business courses going well then ?

It went very well thanks

It made me realise that I sell less stuff at lower prices because people assume it's crap

It also made me realise that underpricing isn't fair to other traders as it gives people a false idea of what things really cost

wellington womble

Joined: 08 Nov 2004
Posts: 15051
Location: East Midlands

Posted: Mon Apr 23, 07 8:04 pm Post subject:
I agree with Stacey about the two pairs thing. Reskein for one pair, and sell as a kit for about 16 quid. It's lovely You can always do a couple of his and hers for, say, 25 quid in a choice of colours. The natural dye studio sell theirs for around 10 quid for a 100g on ebay, and I'd guess that's your closest equivalent, depending on what the wool is.

frewen

Joined: 08 Sep 2005
Posts: 11405

Posted: Mon Apr 23, 07 8:04 pm Post subject:
For what it's worth I think around the ï¿½15 mark (not that I know anything).

MarkS

Joined: 01 Aug 2006
Posts: 2626

Posted: Mon Apr 23, 07 8:09 pm Post subject:

very true.

Its been pointed out that my comment might have looked a bit snotty - which is not what I intended.

the big problem is all the cheap stuff coming in from other countries with lower costs. you cant compete on cost and it makes things look expensive to the bod on the street.

for the record I have no idea how much wool costs. Other than a throw away remark from an aussie sheep shearer that a couple of quid a fleece was doing well.

I know that its difficult to get 100% cotton socks and they are not cheap in m&s.

Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Mon Apr 23, 07 8:10 pm Post subject:

wellington womble wrote:

I agree with Stacey about the two pairs thing. Reskein for one pair, and sell as a kit for about 16 quid. It's lovely You can always do a couple of his and hers for, say, 25 quid in a choice of colours. The natural dye studio sell theirs for around 10 quid for a 100g on ebay, and I'd guess that's your closest equivalent, depending on what the wool is.

Or even at ï¿½13.50 for 100g - you could say the normal selling price is ï¿½16 but it's a wonderwool special or something. I just think they'd be more popular as 100g.

Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Mon Apr 23, 07 8:15 pm Post subject:

MarkS wrote:

I didn't read it as being snotty - much as I'd love to pull your leg and pretend I was offended

If you do a UK google search for hand dyed sock yarn it shows that the average price is around ï¿½10 for 100g (and a lot of them aren't as nicely done as sally's) I think that at events like wonderwool people are going in order to buy hand made, and in sally's case, locally produced goods by small artisan type businesses. I can understand sallys concern about outpricing herself (I'm pretty scared about it myself tbh and i might come away from wonderwool not having sold a thing) but we aren't going to be plonked next to a stall selling cheap third world imports or mass produced acrylic at 50p a ball (at least I hope not or Lee Price will be feeling the sharp edge of my tongue!) The danger is IMVVHO that people will look at something that is so much cheaper than the average and wonder why exactly it's so cheap. I think it's essential to give good value but we're a funny lot of buggers and if something seems too good to be true we don't trust it.

toggle

Joined: 30 Dec 2006
Posts: 11622
Location: truro

Posted: Mon Apr 23, 07 8:29 pm Post subject:

Stacey wrote:

As long as you don't miss out the fact that it's a luxury kit for beginners. Most beginners start on a ball of acrylic and some metal needles. I can't come up with a price and I think what's throwing me is the fact that it's 200g of (very pretty) yarn.

You need some input from the coven.... errr... sockmakers - where are they all?

ok, if you want a price comparison, check out etsy.

luxury hand dyed sock yarns sell at 10-20 per 100g, dependng on the dyer. for 200g of yarn, you need to be looking at more than 13 quid. I'm also going to link to a knitty to get their opinions on this.

toggle

Joined: 30 Dec 2006
Posts: 11622
Location: truro

Posted: Mon Apr 23, 07 8:35 pm Post subject:
first opinion i got from chat was that you are selling at half the price you should be

Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Mon Apr 23, 07 8:36 pm Post subject:
That from a buyer, or a seller?

toggle

Joined: 30 Dec 2006
Posts: 11622
Location: truro

Posted: Mon Apr 23, 07 8:37 pm Post subject:
buyer. and I know she's bought sock yarns at over 10 quid per 100g for handdyed. thing is, for knitters, sock yarns hold a special appeal, you can buy a luxury skein for 4 times what would be spent on any other type of yarn and it's still 'cheap' because that one skein will make a complete project. Last edited by toggle on Mon Apr 23, 07 8:39 pm; edited 1 time in total

Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Mon Apr 23, 07 8:38 pm Post subject:

Nick Howe wrote:

That from a buyer, or a seller?

Why would there be a difference?

Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Mon Apr 23, 07 8:39 pm Post subject:

You don't think someone attempting to sell a product would have a different view on what it's worth than someone who's wishing to buy it?

For example, if it's another seller saying it's worth ï¿½30, it doesn't make it true, or useful information.

If it's a buyer saying they'd willingly pay ï¿½30, then that's very, very valuable information.

So, useful to know the source.

Last edited by Nick on Mon Apr 23, 07 8:40 pm; edited 1 time in total

Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Mon Apr 23, 07 8:40 pm Post subject:

Nick Howe wrote:

You don't think someone attempting to sell a product would have a different view on what it's worth than someone who's wishing to buy it?

Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Mon Apr 23, 07 8:40 pm Post subject:

toggle wrote:

thing is, for knitters, sock yarns hold a special appeal, you can buy a luxury skein for 4 times what would be spent on any other type of yarn and it's still 'cheap' because that one skein will make a complete project.

Exactly

The blogging community reflects that in spades.

Last edited by Stacey on Mon Apr 23, 07 8:42 pm; edited 1 time in total

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