Sunday, January 1, 2017

Pricing Your Work 3

How Much?

Taking Ashley Martineau's advice, I checked out some hand hooked rugs for sale on Etsy.  I looked at 21 new rugs, being sure they were sold by the artist. Not all the rug sellers list all the details. Some didn't list backing material, or size of wool cut, or how the edges were finished. So this pricing was done on the cost per square foot only.
I multiplied the inches of width by height and then divided by 144 (the number of inches in a square foot). I then divided the cost by the square footage.  Prices were very inconsistent: rugs with a burlap backing ranged from $40 per square foot to $125 per square foot.  Linen backing costs ranged from $61 to $294 a square foot.  None of the rugs I looked at were fine cut or finely shaded.  Some had a whipped edge, and some had a twill binding.
To determine a price I averaged all 21 rugs.  The final cost came out to be $121 per square foot.  It would be interesting to speak with the artists who charged much less or much more to understand their reasoning.

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