There are various ways of going about pricing—you can go with a bargain rate to try to attract buyers who are looking to save money, or you could consider offering a high quality product or service and charging accordingly. The general rule for charging a high price, however, is that you need to be able to justify the pricing.
Pricing and the market can be interesting—people are willing to pay higher prices for all sorts of reasons. They will pay more for a popular brand, or for prestige, and they are also generally willing to pay more for a higher quality product or better service. People will also pay more for convenience and service that goes above and beyond. BUT, if you are charging more than the average market price, you can expect that at some point, your prospects, customers, or clients are going to want a justification as to why your prices are as high as they are.
Higher priced materials, shipping, and transportation can also add to the price that the customer pays—if your costs go up, it stands to reason that you will need to pass those along to the customer. It helps to make sure you have a good understanding and feel at peace with your pricing structure as this will come across when you work with your customers. They are more likely to feel comfortable with the pricing structure you have set (even when you raise prices) if you are comfortable and don’t let yourself get too defensive or apologetic. Of course, this doesn’t mean that you might not get some people who either complain about your prices, or decide to go with a cheaper product or service—but this is just one of the realities of doing business—even on a small, home-based scale.
Also: Pricing Items at a Garage Sale
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