Every time I get really annoyed with the uselessness of maintaining an etsy shop, someone randomly buys something. Okay its not an exact formula, but it happens. Its not about making money for me at all, if I wanted to seriously make money with my art degree, it certainly wouldn't (and won't) be on Etsy. I'd go get a graphic design job, or better yet do enough paintings to do a show in a gallery, or illustrate a bunch of kids books. Those things may come eventually, but I can do an Etsy shop now. Its about still getting my art “out there” at all while I am mainly concentrating on being the mother to my kids. I can do it with theoretically minimal effort, and still be at home.
But, I am in serious need of some opinions here. I don't know what to price my stuff in my Etsy shop. If you look on the forums in Etsy, you will get all sorts of stuff about 'not selling yourself short' and spreadsheets on how to exactly price with charging as a professional for your time and materials and all, and thats your wholesale price, then you double THAT for retail. Most of the time its a plea for others to up their “too low” prices because then they can't sell their over priced ones. But guess what! Etsy is in a capitalist market, its all about supply and demand and undercutting is a way of life. I may have been forced to take econ101 to graduate, but I didn't completely zone out the whole time. There are an insane amount of sellers on Etsy, and it sure seems there is far more supply than demand. The supply tends to get buried pretty quick too.
So my economics class would tell me to lower my prices to be competitive, and the Etsy forums would tell me that by doing so I am undercutting 'serious-this-IS-my-day-job' etsians, and selling my work short. Then there is also an actual risk of cheaper prices making it look like they are lesser quality. Also I am totally cheap. ...and I wouldn't buy my prints at their current price (well, impulsively at least) I'd have to REALLY like it. Conflicting theories aside, I still have no clue what actually works. Obviously, I could use some feedback here. This is NOT a plea to go buy my stuff. (if you do happen to want a print, PLEASE let me know first and I will drop the price in HALF at least, if I don't find an excuse to GIVE it to you first)
So, should I lower my prices? ..and if so, by how much? Pelter me with your opinions. Feel free to critique whatever you want.