Adding to it. . .
For years, many crafters went by the 3x rule: multiply your cost by 3 in order to come up with a price. But Richard’s and Paul’s factors are important and should factor into the equation.
Sometimes the market determines the price in ways you cannot imagine and sometimes a chief factor is why you’re in the business of selling.
Local artists sell their work at wildly different prices and I would like to add two other factors to consider: quality and artistic appeal. One fuser sells pins made of scrap pieces laid on top of each other in what looks like a haphazard fashion and sells her creations for $30-$40 a pop. The feel and look of the glass is not entirely consistent and the pieces of glass (I call it a bird’s nest effect) that stick out could catch on something which might be fine if they didn’t just look like someone dropped a bit of glass into a kiln and called it good. The finish and aesthetic appeal of the pieces doesn’t justify a $30 price tag to me, but I’m sure there are buyers out there.
Another fuser sells pendants at $10-20 each. They are simple, two-three layer pieces that have a monochromic scheme, usually, but sometimes she adds several colors to a single pendant. The finish of the pieces is smooth and square. Sometimes the entire top layer is dichroic. While not terribly adventurous or artistic, at $10 she sells a lot of product (depending on the venue). She’s putting the money she’s making into the pendants into buying more glass in order to “experiment” with different designs and such. As she’s growing more confident in her abilities (her stuff is nicely made) she’s experimenting and some of her new designs are really quite beautiful.