Some of you know i have my own glass studio. I recently made a bowl that I wasn't sure if i liked, but i listed it for sale at $60 plus $10 for shipping. It cost me $14 in material (at the most), plus electricity. I get my shipping material for free.
It takes me about 10 minutes to put it together before putting it in the kiln, but I can only make one every two days because if i put one in the kiln when i get home from work, it will be fused and (hopefully) cool enough by morning to touch, but I need to monitor it for the second fusing so i can't put it back in until i get home from work, and then it's not cool enough until the next morning.
The first one I listed sold in 2 hours.
The second one sold in 30 minutes, and then i got an order for another one from the first buyer and a pre-order from someone i never heard of. plus, my online store is looking empty since i keep selling my inventory (i've sold other things too, also quickly but the profit wasn't as high)
So. I have a show coming up in a week and my kiln is busy making these bowls, which means i can't make anything else (its not a large kiln, so i can really only make one at a time).
Do i:
a. raise the price to... $100 and get a few less orders but make more money
b. Keep the price the same and just keep cranking them out and use the profit for a much bigger kiln plus an electrician to run a separate line