What is a Fair Price?

I have to ask this question every time I put an item on my web site. Yes, what is a fair price for this item?

I don’t purchase my stones from another source so I can’t just double the price and come up with a price since all of my stones are what I have cut and/or polished.

The fair price question has alway “bugged” me since I never wanted to over price any items so it was priced more than a person could purchase it somewhere else. I also want to make them a “good deal” for those who were using the stones to make jewelry items they planned on selling. If my prices were lower, they would be able to also sell their items at a lower price. This would mean more customers for them.

So to begin, I look at each piece and imagine what a fair price might be. I use the infoformation I gain from the prices I see at rock shows as a general starting point.  After I have photograpyhed each piece and have the photo uploaded to my site, I then work of the description and priceing. I put down what I think would be a fair price. I know that there is a difference in pricing across the USA. Prices are just different in different areas. I don’t try to be either the lowest average price or the highest price. It is just my price.

As I look at the items on any page that sell compared to the items that don’t sell, I get an idea of which items may be “over priced”. These are the ones I am most concerned about. What would really be a fair price for these items. I don’t normally have “SALES” on my items. What I do from time to time is just reduce the price of items that haven’t sold. These items with the reduced price may sell more redily than they had before the price reduction. I don’t announce that any page had been repriced so the next customer won’t know that the item might have been ariginally been priced slightly higher. I still price the items in easy increments: 50 cent increments. This make it easy for me and my customers to count and total.

I will have to explain one thing about some information of two of my pages. You will find that it said, this is a Home Based Business. This is only partly true. The part that is true is that it is “home based”. The part that is not really true is the word “Business”. This is not really carried on as a busines but as a hobby. It pays for the expenses but for the time I put in, I wouldn’t make minium wages. But I am not complaining nor am I going to raise the prices. Most all will find my prices very reasonable and even quite low compared to what they would pay for them in their area.

My goal then is to have my items pay for themselves and still be a good value to my customers. I want my customers to “get a good deal” when they order from me. I am sure God is pleased with my desire to make sure my customers feel very satisfied with the price and quality of the stones they pruchase from me.

If I tried to “over price” items, I am sure God would be displeased with such actions. God has given me these stones to work on and he would not want me to misuse his gift to me.

Thank you for reading to the end.   Larry

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