The Pricing Conundrum: A Balancing Act

As an individual, as an artist/designer/craftster, and as an independent businessman or woman, how do you determine a fair pricing system? Both to yourself and to your potential buyers? Does an aesthetic of under- and overpricing create a successful brand & image, or are there sellers who just simply overpricing and underpricing their products?

As a buyer and hopeful seller, it is amazing to see the marketplace that has developed for independent & small businesses. With the launch of sites like Etsy, artists are no longer confined to selling to locals, but they can reach a global audience.

While I love that I can order a custom made bag from France (and still affordably, despite the exchange rate!), lately I have found myself questioning the cost of products from independent makers, especially given the context of how much work, intent, skill, and cost went in to making the final product.

Being active in the corsetry communities and having a bff/sister who designs & sells her own clothing line, I'm well aware of the standard pay-per-hour of many designers. I'm knowledgeable of the costs per production and bear in mind a considerable (or reasonable?) amount for mark-up. But what do you say, what do you do, as a buyer, or seller, to see someone under-cutting or over-pricing the process?


Which of these items do you think is the better bargain?

As a buyer, I tend not to complain as much if someone is underpricing their merchandise; in fact, there's good money to bet in saying that most of us probably don't. But what do you think or say when you see someone overpricing their merchandise-- particularly over someone with far greater skill, style, and abilities?

Am I wrong, as a shopper, lover of fashion, to be offended to see a seller misrepresenting their items? To sell an article of clothing as a "corset" when it is clearly a corseted style top; does it add more insult to injury to see that "corset" marked at $275, which is more than some esteemed corsetieres charge for their work? Or how about the cocktail hat trend-- there are many milliner's who create gorgeous pieces of head art and price those in the $100-150 range; is it an insult to their finely honed craft so see another designer buy hat bases, cover them in fabrics & ribbons, and charge $200+ for them?

Are we simply fools for the marketplace, willing to pay an exorbitant price for a good because the price tag suggests luxury over skill and craft? Is there a happy medium for independent designers, or should we create a marketplace cost and adhere to it?

I'm not sure that I have my own definitive answer. However, in the meantime, I'll continue to support the artists who recognize a realistic and sustainable cost & earnings system that is based on skill, material costs, affordable living, and most importantly, buyer accessibility.