What are you worth part 2??
So after I hit the publish button yesterday, I had a few more thoughts on the subject. I received some really good comments and emails about the subject also.
I used my “Hollow” entertainment unit as an example. Now that piece took me 100 hours to make. Now that is a really long time for a pretty simple form and unit. There are a few reason why it took that long, but I won’t bore you with all of them. It really boils down to lack of experience, with that said I reckon I could make the piece today in about 40 hours. So is that to say that as we gain experience and get better at what we do, that we have to charge less? I say NO.
One of my instructors here in Australia told us that when he first started out that he would make a chest of drawers. He would sell this pieces for 9000.00 dollars. Since then he has made the same chest of drawers of 4 or 5 other customers. Each time the process became quicker and the price went up. Were today he recently sold the same chest of drawers for close to over 25,000.00 dollars.
I recently watched a video on YouTube about Sam Maloof. In the video it said that When he started he made a dining room set that sold for 3000.00 dollars. The same set today sold for more than 150,000.00 dollars. I guarantee that he or his shop make the dining set in more than half the time they use to. Is it worth that much, if someone buys it then I think it is.
So if I build my unit in 40 hours, but I can sell it from 6000.00 dollars, should I charge less for it? I really think it boils down to the market and the clients that you are trying to cater to. Our work is worth a certain amount, which is what we put into. But it is also worth what someone is willing to pay for it. Sometimes we think it’s worth more than we can get for it, thus the piece never sells. Then we have to reevaluate how much we think we are worth.
So what does this all mean, well you figure out what you are worth and then move to a place where you can get that. Ok maybe that’s not exactly what I mean, but if you want to big money for your work then you need to be seen where big money is. Is your work worth big money that is for you to decided, but once again I say YES…
January 7th, 2008 at 9:54 pm
Kaleo, I agree, craftspeople either have to follow the money (good strategy early career) or build a publicity machine so the money comes to them (good late career strategy, Maloof etc.). With the internet it’s easier to get your name out there, but as my friends have found, people are extremely resistant to buying furniture without touching it and seeing it in person.
I also completely agree with “charge what you can get” in this field. “Value” is for furniture stores and ikea, never ever try to compete with them, it will kill you.
This is also getting into the “selling” topic which I look forward to you writing about in the future. How do you get your stuff noticed by clients with money? How exactly do you get in galleries, and how do you make sure it’s the right gallery? Is it worth it to sacrifice the front of your shop for “showroom” space?
With any artistic or craft pursuit, there is a process of “building a cult of personality” around the creator. Musicians OWN this process right now, on the internet they are so far ahead of everyone else it is insane. They create a rapport with people, convert them into fans and then convert them into customers. We could learn a lot about marketing from musicians, visual artists, and jewelry designers. I see these three constantly showing a high level of sophistication in their new media marketing techniques.
Of course you have to embrace marketing and selling first, and some woodworkers don’t want to do that.
January 7th, 2008 at 10:31 pm
I totally agree with you Kaleo. While a person may not start out charging $55/hr, if they want people to actually consider them as fine craftsmen, they’ll need to eventually have their price in line with people who are considered fine craftsmen.
While there are definitely people in the world who will always go for the cheap, a majority will suspect a product is cheaply made if not priced correctly. Would you use an electrician that only charged $15 or $20 bucks an hour? I doubt it. You’d be afraid your house would burn down, and rightly so.
January 8th, 2008 at 10:07 am
Hi Kaleo……
You’ve touch a nerve on the next level……….GREAT!!!! Seems Vic, Gemorris, and myself are with you.
I’d like to add that we always seem to be thinking in terms of the price for one piece, this is a misnomer. The idea of developing a “line of furniture” is where margins begin to widen. Caveat:…….means employees.
I’d like to run with the Gemorris thought:
“With any artistic or craft pursuit, there is a process of “building a cult of personality” around the creator”
This is a vital part of becoming a “percieved” artist/craftsman. Hemmingway, Picasso, Dali……………all exist around an aura of mystery. Gemorris is on it, but with a craftsperson….eventually you have to “show your stuff” so others can touch it, feel it, and decide whether to buy it. Depending on the size of one’s percieved “cult personality”, tack on a couple of “G’s”.
There is so much information that has been translated poorly in American craft due to “cult personality”. I believe its a hinderance to US design. Heck Kaleo, being in Australia, you are in a current hot bed of creativity. Europe has the creativity and just recently Canada is showing some muscle, but the US is lost in the 70’s to as gemorris says……the “cult personality”.
It’s time to kick the US Craft Movement in the ass, and look for business margins in “manufacturing and design”.