prices

[skwairpeg.livejournal.com]

Hi all,

I'm in the beginning stages of opening a store in my area, where I'll sell my candles, soaps, painted furniture, and other crafty things.

Here's the thought that just occurred to me: There is a store also in my area that sells lots of painted things - all the same sorts of things I make and sell. Tables, chairs, etc. The style isn't quite the way I like to do things, but you get the idea - there are some definite similarities.

I've only been in the other store once, but once was enough to see that her prices are through the roof. A few hundred dollars for an old chair that is now painted all kinds of funky colors, etc. I'd never spend that much for that sort of thing, but apparently somebody does because she's been there for several years. Story has it that she's a doctor's wife and does this as her hobby, so maybe if it's not very profitable it doesn't matter to her.

I like my furniture. I like the things I paint. But I don't think they are worth several hundred dollars. I plan to keep my prices reasonable, so that people can actually afford to buy my things and enjoy having a unique piece of furniture. But now I'm thinking - what if people assume since her stuff is so much more expensive than mine, it's inherently better? What if no one wants to buy my stuff because I'm only asking $40 for a table that she might ask $300 for?

Any thoughts on this would be appreciated...

x-posted in a couple of places...