Pricing Your Baskets

for Sale

A new basket weaver wrote the other day to ask if we'd cover the topic of Pricing Baskets for Sale.
This is a complicated process and people do it different ways. Today's info is meant to serve as a basic guideline to remind you of general pricing factors. 

First is the materials cost. The reed or splint, the handle, anything you add to the basket (tie-on's, labels, other decorations or trims) and stain or finishing supplies. Before you weave the basket, be sure to weigh your handle separately so that you know the weight of, for example, a 10x12 D handle. Record it in a notebook so that you don't have to keep re-weighing the same size.

Then weigh the finished basket while it's dry. Subtract the weight of the handle. The remaining weight needs to be multiplied by the cost of the reed. 3/4 pound basket times $6 for wholesale reed equals $4.50 for the reed. Add the cost of the handle and other items, plus the cost of staining the basket. (Divide the cost of a can of stain by the number of baskets that you stain with one can.)

Next, add your labor cost: multiply your number of hours worked by a reasonable hourly wage. What's reasonable? 
This depends on where you live and whether your market area has other basket competition. 
Beginning weavers should charge at least a couple of dollars per hour above minimum wage. Experienced weavers (10 years+) should charge more of a "craftsman's" hourly wage- similar to cabinet makers and other fine crafts. I hesitate to name dollar amounts in any case because of the tremendous variation from state to state and country to country. You need to determine your hourly wage based on what the market will bear in your area. Some areas have more respect for basketry as a truly distinctive craft. Experienced weavers will eventually create a name for themselves and establish their personal style of weaving- a special style of dyeing, a special technique like unique market baskets or antler baskets or natural fiber baskets. These factors add value and distinction to the basket.

Once you have a record of sales, be sure that you're writing down the basket type, size and price sold. You'll quickly see a pattern that establishes which baskets are moving faster than others. 

Then, there are the costs of doing business. Booth rental, table rental, vehicle expenses (Yikes! Let's not talk about the price of gas.), advertising, etc. 

A suggestion for Beginners:
Gift baskets continue to be a popular gift item. If I were new at selling baskets at fairs or a similar kind of venue, I'd consider filling and cellophane wrapping my baskets to add additional "perceived value". I'm NOT saying that plain, empty baskets aren't good enough to sell on their own. It's just that there's so much flash in today's market place that it makes baskets very very difficult to sell on their own. Especially small, simple baskets. But small, simple baskets with contents- that's another story.

We already know that gift baskets are definitely not a passing fad. So why not use that fact to our advantage? 
You'll need to emphasize in your sales space and/or sales pitch, that you have HAND-WOVEN the baskets, so that potential buyers won't consider them just "filled containers" but "artful, one-of-a-kind containers with contents". 

The colored cellophane bags that you shrink wrap around your basket with a hair dryer are available in different sizes at all the large craft stores. Be sure to buy your contents items at a wholesale price. Non-perishable contents are best, and stay away from food unless you're ready to go the whole Health Department rules, regulations and inspections route. 

Don't think you have to have baskets that are chuck full. Simple elegance has its place.