Pricing.... how to determine

U

UBNYC

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As I plug away at my web site, I find myself stymied by the challenge pricing presents. I just sold a pucci top for $300. on Ebay, which I'm not sure I would have asked more than $200. for -- but then I go to some vintage web sites like the one that starts with a E and the prices seem awfully high.
I have a couple of price guides, but they seem off to me as well... any thoughts? Formulas? The owner of Gabays recommended 60% of the original cost... but how would that work if it was $250. in 1956? Oy! My head!!:(
 
You know this is the hardest thing for me to deal with. On Ebay, as my husband says, it's a fairly simple formula: the price is whatever the market will pay.
I don't think there is a simple formula for determining website prices. I don't have my own site (yet), but I look at a lot of websites and am tryiing to compile some research for when I do open a site. I check out all the various vintage sites and see what the normal price that something actually sells for..not just what the asking price is.
Sorry I can't be anymore help. I will be interested to hear what others have to say.
joey
 
I think the same way Joey does, there really isn't a set way to determine what you should ask. Just do some searches and find what the market is demanding and then set a price you feel comfortable letting something go for.

Some websites are very pricey. Whatever you do don't buy books as pricing guides. I have a couple that have prices in them but only use them as referencing to find similar items for dating and such. But never use the price they are always way off.

Right now ebay isn't bringing a lot of cash in and if you feel leary of listing something that you know should bring more money just come here and ask theres alot of knowledgable people to help you.

Right now I have a Cashin coat that I don't know whether to list or catbox so I will be back with questions myself..
 
Pricing is one of my biggest bug-a-boos and researching other sites
can only confuse you more I think.

I agree that there are a lot of sites that have lovely items, and also
very high prices. I am assuming that they also have a lot of
repeat, high clientelle customers and can get away with these high
numbers.

For the VC-Mall (which I have to update), I usually factor the
price I paid for an item, the marketability of that garment (i.e. a Ceil I would price higher than an R&K Originals) and then I pop a price on that
I would be happy getting, but that also was lower and more competitive
than comparable ones that I have seen.

Then I hope the thing sells! :)
 
Pricing is always the difficult part. When we did shows and offered clothing at set prices, my goal , which I couldn't always attain, was to double my investment as a minimum. Sometimes it was worth paying $100 for a dress that was fanatstic but would sell for $175 just to have it in the booth as an attraction.
I do think you have to search the websites, but take the prices with a grain of salt. I have sold to some of the higher end sites, and therefore know what they paid. And they didn't make anymore money than I did when they finally sold the pieces sevarl years later.

Hollis

Hollis
 
the price is whatever the market will pay

That is so freaking true, it's insane!

I think the best thing to do is sell for a price you feel comfortable with and will make your tidy profit. Of course there are certain designers like Pucci, Ceil Chapman and some others that will consistantly command high prices but sometimes on eBay it's just a crapshoot. I've seen things go for $400 that even if the same item was put on eBay the next day it would only garner a third of that price. It's all what someone is willing to pay and the right person finding it at the right time.
 
<i>It's all what someone is willing to pay and the right person finding it at the right time. </i>

Boy is that true on eBay! I put a pair of 50s vases up. Small, cute, but not anything special. They didn't sell. Not a bid at $6.99. I put them up again and they went for over 30 bucks. Another example were my collectable Reebok Pump sneakers. They aren't really vintage being only about eleven years old, but I saw the same pair go for $178 so I rushed mine up. They only sold for $69 or so. (Not that I was disappointed! Personal item I never wore!) Mine were in better shape too. May have been that mine were 10s and the others were 9s, but I think it's just who is looking when your stuff is up.

Another factor in pricing is overhead. The boutiques that I sell to can ask higher prices because the customers know that the owners are paying big bucks for rent. A website doesn't have the same overhead, so take that in to consideration.

Another thing to think about is perceived value. The way you present yourself and your wares means a lot to people as far as price goes. If you present yourself as more polished and professional I think you can get away with charging more than if your site looks a horror of clashing colors and fuzzy pics. Same goes for customer service and packaging. The nicer the packaging the more you can charge. It's all based on perceived value by the customer.

So you go to Gabay's? I live not too far from there. On 2nd Street between B and C. Now it's all fine and dandy to ask for 60% of retail if you're paying 20%. That's more how to look at it. I've never heard of pricing by charging a percentage of retail. In new clothing they take wholesale and usually double or triple it. Since Gabay's deals in closeouts that they buy from the manufacturer, they most likely pay just a little over production cost (less than stores pay) so they make a tidy profit from that 60%. Vintage is much different. A gold snake bracelet I recently sold at a boutique for $155 wouldn't have cost nearly that in 1960 (the guestimate of its date) but it is now rarer and the market is hot for them now. See what I mean?

Oh yeah, hello and welcome to you UBNYC!

kj
 
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