How Do You Price Custom Ponies?

[Daeaye]

I'm getting very ahead of myself here, but I'm going to ask anyway.

How do people price their ponies? Not ponies that have been requested by anyone, but rather have been made on your own time to your own specs for the purpose of selling to anyone who wanted it.
I have a small handmade jewellery shop, so I can appreciate that pricing on crafted things depends on the time taken, overall finish, difficulty of making it and so on, but I see some people charging just £50 for a custom pony, and others charging £150 - both ponies are truly excellent, and have the same amount of sculpting and paintwork, but there's little visible difference in terms of quality, and yet both sell as well as eachother. Does your name also affect the price? Like an average Canon camera compared to an equivalent Sony one? They're both the same camera, but the 'branding' takes charge. Does it work like that?

I've not made many ponies, and I've only posted one of them on here at the moment, but I'm hoping that I'll  be able to sell some eventually. I expect I'll have to sell at low prices, I just wonder how people price them.

[NovelNerd]

I'm not a customizer , but I buy custom non pony items often.

People that have the good reps always have a huge following and can charge higher prices if they wish. I notice some don't, and I guess that's just personal preference. I'm sure cheaper equals more customers at higher volume and higher prices means a few dedicated ones.

I figure everyone probably starts out cheaper. Then as they build a reputation and skills slowly increase prices. You could always do a piece an put it up for a price check an take offers or something on it?

[Roogna]

I figure everyone probably starts out cheaper. Then as they build a reputation and skills slowly increase prices.

^ this
It's also a matter of the market. I have a VERY hard time selling customs at ANY price to collectors here in the community. However, I have NO problem asking higher prices outside the community, especially on commissions.

[mlp4me]

I don't try to sell them at outrageous prices. A lot of times it depends on the quality pony in the end, what type of pony was used (is it a common body style)... I use a lot of bait ponies so they do have some issues even after customizing so I don't usually charge more than $20 for any single pony. (I always hope that my customs wouldn't end up re-sold on ebay for higher prices...)

[TexasGal]

This is a lot of good information...I didn't know a lot of that too.  =]

[BarbedDragon]

I try to charge according to time I spent/materials---which does include researching/designing/prepping etc. I also try to be comparative with price/skill level and see what others are charging so I don't charge too much/too little for my experience---it is the same way it works in my full time job as well. You may price some people out and that always does stink---however you have to understand that these are OOAK works of art.

Some people price things based on how much they are willing to let them go for and not ever have them a part of their life anymore. THIS is how I price my paintings. There are some ponies I will pour everything into (Like my commissions) and some I'll do to just get them out of my head. It's very hard to price art.

Hope that makes sense.

[Griffin]

Finding the right market and building up a reputation is a big part of it. Skill level matters too, of course, but often you see e.g. fan art customs or FiM customs go for a lot more (sold outside the customizing community) than equally carefully crafted original designs do.

My advice is to start with lower prices and test the waters first. I personally feel commission rates are easier to set first, you get to price all details / level of complexity separately. Then you can price your sale pieces accordingly, or perhaps charge a little more than you would for a commission piece of similar complexity. I typically set higher prices for the customs I'm selling - mainly to see if they do sell, as I can always lower the price if they don't and I don't mind holding onto my customs for a little longer. (I don't sell many customs, though, I'm so busy with commissions and swaps!) I have raised my prices (commission rates) a couple of times, usually a good time to do that is when I get more commission requests than I have the time for.

Participating in custom swaps is a great way to start building up both feedback and a name. You get to test all kinds of ideas and techniques you might not think of on your own, and build up a portfolio of sorts while you're having fun. ^^ In most swaps partners are determined based on skills, so participating in a lot of swaps will eventually give you an idea of how others view your level. Getting paired up with some of my favourite customizers has made me a lot more confident about my work. I also take notice on how these customizers price their ponies, and use that as a guideline when setting my own prices. That's only one part of pricing your work, however. The time and materials spent are the first thing to consider, and sometimes you just have to think what is the price you're willing to let your creation for, like BarbedDragon said.

In the end, there's not just one way to go about pricing your work! Do what you feel is best and see if it works for you.    

[JoshsPonyPrincess]

I agree with much of what is posted here. I price my work (non commissions) based on several factors including, time, supplies, baits, and what I am willing to part with the custom for. I generally price my sale pieces lower than my commissions because they are more non specific and usually people only commission me for very complex pieces. I also tend to do easier pieces interspersed with complex pieces (heavier on the easier pieces as the complex pieces take me longer). So some of my pieces will be lower than other pieces because of complexity.

Definetly having a following will affect your pricing. I have several wonderful buyers who buy the majority of my work.

If your work is selling so fast you can't keep it on your sale shelf so to speak it may be time to up your prices.

My first piece sold for $45 and some of my pieces still sell at that price (all be it smaller ones ie babies).

It does suck when someone says your prices are too high but I figure its not meant to be and I usually am very busy with my own creations and commissions (I generally have 40-60 WIPS at a time). Not including other art (like paintings, sculpture and jewelry).

How many pieces you create in a year also affects your prices I think - sometimes if you only do several pieces a year to be sold you can sell them at higher prices.

Sorry if I am rambling and I hope I made sense - just got home from a long weekend away and am tired.   

[Eluluu]

another thing you can do (which I plan on trying when I have the time) is make a couple 'test customs' and put them up for auction. ebay or here etc... and see how much different styles sell for. its not an exact science, but it might give you a hint or at least somewhere to start. =]

and one of the possible reasons for pricedifferences of the same 'level' of skill might be just the time factor... maybe one painter works faster or has a trick up their sleeve (like an airbrush) and can just crank them out faster, thus lowering the price a bit. *shrug* just an idea. =] I know mine take significantly longer to do mainly due to my lack of airbrushing skills (and my compressor is SO LOUD I prefer just to annoy myself with a hand done FBR instead of half of Chicago.

[BarbedDragon]

Another thing I offer too which might help if you have someone stating a custom is too much for them is payment plans. The buyer puts down a non refundable deposit (normally 25%-50%) with the understanding it's non refundable if they change their mind. Then we work out a timeline for payment. I try to keep it within 1-2 months of possible. I always take trades as well. Being more open ended allow more buyers access to things they would otherwise miss out on.

[JoshsPonyPrincess]

I agree with BarbedDragon - payment plans are usually used for commissions for me People love having the option

[coinoperatedgirl]

Does your name also affect the price? Like an average Canon camera compared to an equivalent Sony one? They're both the same camera, but the 'branding' takes charge. Does it work like that?

"Brand" definitely plays a small part, I think, but those artists who command higher prices also have a great deal of experience and amazing products.  I don't have either the reputation or the experience and product to command the high prices that some other artists can, and my prices reflect that (it's actually an eternal argument with my mother, who seems to think I should be pricing my stuff like some of the more recognizable, established artists, and that's just not going to happen).  I try to price based on supplies and time spent working on things, but in my experience there's not a lot of people who appreciate the amount time spent on doing things and are willing to pay for that time.

[babyprincess_sparkle]

I think it depends on how much time and detail is put onto a custom.

[BarbedDragon]

"Brand" definitely plays a small part, I think, but those artists who command higher prices also have a great deal of experience and amazing products.  I don't have either the reputation or the experience and product to command the high prices that some other artists can, and my prices reflect that (it's actually an eternal argument with my mother, who seems to think I should be pricing my stuff like some of the more recognizable, established artists, and that's just not going to happen).  I try to price based on supplies and time spent working on things, but in my experience there's not a lot of people who appreciate the amount time spent on doing things and are willing to pay for that time.

I agree with your Mom, you should be. You ARE awesome and you ARE recognizable. I have the same problem here with myself though. It's a battle.

Here's the thing---you can ALWAYS start off high, but be willing to take offers or go lower or payments. You can NEVER raise the price of it after you have set it low. It works the same in the tattoo world (what I do for a living) you can offer a price and haggle a little, but you can't make it higher if you go too low. I have a good example of another artist in my shop that always prices things too low--now those are the only customers she gets. 

Pricing work for time, materials, and what you are willing to let it go for (THAT is super important!) is critical. You should ALSO be charging for experience. If you ever are unsure about your skill level you can always ask another trustworthy friendly customiser that is willing to do an honest critique of your work (with the willingness to accept objective criticism of help is offered). I am personally very shy about accepting compliments on my work, but I am getting better about it. They key is to NOT have an ego.

[Griffin]

^ For that exact reason I think it's best to wait a little before you [meaning beginners in general, not just the OP] start selling your customs or taking commissions. That way you don't have to start as low and then have troubles raising the prices later, and you already know what your strengths and specialties in customizing are. Besides, if you start by actively participating in swaps or showing off your pieces in various places, people will already know you and the quality of your work.

When you decide to raise your prices, you should do it little by little. I think it's perfectly okay to do that as your skills improve and you gain more experience. I have made some of my most memorable customs around two years ago, but in general my work is better now that it was at that time. You rarely notice the improvement unless you look back a couple of years or several customs!