Online Vintage Sellers - How do you decide on pricing?

Hi VTG Friends,

I was curious on how you decide to price your clothes online? Do you have a formula you use? (ie: time put in + cost of garment + cost of professional cleaning + ? = price item is listed for)

I have always been curious about this and find it really interesting.

Thanks ahead of time!

Danielle

 

there is that formula for things that don't have a huge collector or current trend value,
for those special pieces you just have to keep up with the current market and use your "spidey senses"

 

Hi Danielle,

Lots of things to consider when pricing your items. You have to factor in your initial cost of the item, cleaning costs, repairs, acquisition costs (gas, time spent), time spent preparing item for photoshoot, small percentage of cost of photo props (mannequins & forms, backdrops, cameras, lighting), era, scarcity, condition and how desirable the item is. Then factor in a profit margin you would be comfortable with.

An exhaustive list that I'm sure is not complete!

 

I've only been selling shoes so far but I make sure the prices relate to what brand new products in similar styles are selling for here in Britain. I've been lucky enough to get several new old stock or worn once vintage pairs and I don't sell them under the price of the modern copies because they're better made with better materials and some can be near unique. I put the price up for originality of design and down for bad condition. Unless it has a designer name I've found there is a bracket price people are willing to pay for certain styles.
I'm still learning as I go along and when something really nice sells you always feel 'I should have sold that for more'...but you don't know that they would still have bought it then!

 

I have a giant dartboard with prices, and I toss a dart and see where it lands.

Only joking! But sometimes it feels like such a hit or miss process that perhaps that method would be just as successful!

 

I agree with the rest.....

I have a "set" list in my mind as well, especiall when shopping. I know that the average day dress brings in $20-$40 (on the quick turn around market) and $50 - $80 on the desinger and or I will wait for the right seller game.

It is the same with each type of item such as suits, cocktail, full skirt party dresses, evening gowns, couture and famous designers, etc. Keep an eye on the trends and decide what your image is goign to be.

Do you want to push through a lot of stock and quick? do you have the time for that? Stay just under the median price on ebay and etsy. If you want a more elite (so to speak) or higher income based clientele then only sell perfectly wearable as is items, minimal flaws or just darn unique pieces and price moderate to high and sit on it.

The great thing about "sitting" on items is having your own web store because it creates a great atmosphere for your customer and therefore adds to the value. On ebay expect to get less (but not always) than etsy, and even less than your own store. But expect the sales to be quicker on eBay and increasing more on Etsy but not comparable to ebay, and possibly really slow in the beginnig on your own domain.

Then you calculate the work you must put into advertising. On your own store you will either have to pay to drive traffic to your store and on esty less (but you still need it) and I hardly do any with eBay.

That is why I generally sell for about 1/2 to 3/4 of what I could list for in a private store, but I go with eBay. The time saving is more of a value to me. I am not trying ot support myself though as I am going to college and I work for HR block so it is for the love and knowledge that I do it for now. I am preparing for 5 years down the road so I will be able to go full swing!

I know this is a lot, but it is what I can think of.

I consider that my investment is about $20 per item off the top (hunting, gas, photos and editing). I have gotten quicker at the listing side. I allow myself 1 to 1.5 hours on each item for steaming, shooting photos and editing (it used to take 3-4 hours an item). If cleaning or repair is going to eat up more than 2 hours, I either pass or consider if it is worth paying someone else.

I think $20 is my base + cost of the item + cost of repairs/cleaning (if any) + average of $5 in ebay / paypal fees

If after all of that, if I can not clear $20 I wont list it individually unless I got it dirt cheap (like free or $1), and I have already made my money back so everything else is profit. Does that make sense?

Simplified, if I pay $20 to $50 an item and I cant tripple that in a sell then it is not worth it. If I pay $1-$5 I buy them up becuase I can sell in lots or as a "bonus". If I pay closer to the $100 range I need to double.

I hope that helps.

 

LOL Barbara....

We should all experiment and try that hahah!

 

I also try to use the 1:3 buy to sell price on absolutely everything because to be honest I haven't the time to work out any of my real costs but know that at that price I will always make a profit and if it doesn't sell for my price I can absorb the cost.
It also means I can take a risk on something I really like and think might be worth more, like the chanel gloves I posted, but wouldn't find where I buy most of my stock.

 

I do some research on what items are selling for as I like to turn things quickly. I also like to at least double my money. If I put an item at auction I'll start a bit lower than say a fixed price with "make offer" enabled as most of the time you'll indeed get a lower offer.

 

Exactly what Terri said