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Hourly Earnings, Part 2: Everyday vs. Fancy

6/15/2010

7 Comments

 
Picture
Just like the first installment of this research project, this second installment is about the wholesale side of my pottery business.  

(To read the first installment, scroll down to "Hourly Earnings, Part 1," which explains the whole backstory for this project, including motivations and methodology.)

I compared two different wholesale orders side-by-side. Their total sales amount were nearly the same. They were due on the same date, therefore they were going through my studio at the same time. But there was a significant difference between them. One of them consisted mostly of everyday functional items, bowls and mugs and such, whose retail prices range from $25 to $120. The other order consisted mostly of my "fancy" line of pottery, which are oversized serving pieces that are hand-carved with illustrations, whose retail prices range from $180 to $350. 

The everyday pieces are quick to produce ... I wouldn't offer them for wholesale unless I knew I had a good command of them (a lesson learned the hard way). The fancy pieces are strenuous and time-consuming, more prone to failure, and space hogs in the kiln. 

I followed the same parameters as before, in terms of the minutes I tracked and didn't track, and the expenses I tracked and didn't track. (again, scroll down to "Hourly Earnings, Part 1" for the complete methodology). And here are the results ... for the order of everyday items, I made $20.18 per hour. For the order of fancy items, I made $29.58 per hour.

I guess this is good news and bad news. On the positive side, these results verify the results of the first calculation (a much bigger order that combined low- and high-priced items, the result was $24.74 per hour). So now I feel confident that I am doing a consistent job of tracking my time. And I am really proud of my fancy line of work. It took me a lot of time and thought to develop these pieces, they are honest reflections of my aesthetic values, and I am happy to see that the effort is paying off.

But truthfully, I'm a little bummed. Because everyday functional items are my true love. My reason for being. I feel thoroughly requited when I look across a table full of identical pots. How many jobs can make you feel like that, after a long day of work? But I've had inklings for years that they weren't very profitable, which is why I started developing an upscale line. Here's the typical conversation that happens in my head when I sell an extra-large carved platter:
"How many mugs do I need to sell to equal that income?"
"That would be eight."
"But mugs are so much faster to make."
"What about those pulled handles?"
"Oh."
"And what about the energy it takes to make eight sales instead of one?" 
"Shut up."

And now my inklings are being confirmed. I wish the difference wasn't so big. 

I'm going to process this with both my idealistic and realistic voices. It would be smart to expand the upscale line of work. But I refuse to abandon the everyday things, because that would be so not worth it. 

Coming soon ... my next calculation will happen in mid-July, after my first retail art festival of the year.
7 Comments
Lydia
6/16/2010 11:24:40 am

I look forward to reading your next installment in July. :)

Although your upscale line is more profitable, I would imagine the market is smaller as well. If you were to spend more time making your upscale pieces, would you be able to sell enough to compensate for not making the more affordable every day pieces? Just a thought - and I truly have no idea what the answer might be.

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Vicki link
6/20/2010 08:14:53 am

I am interested in Lydia's question too-- how long does it take to make a sale on the upscale pieces versus eight mug sales? And even if it pays less, part of why we go into art is because making it fulfills us... our hearts are not ruled by business sense!

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Mea Rhee
6/21/2010 04:26:42 am

Lydia and Vicki,

That's a good question which I don't have a complete answer. In the wholesale arena, the answer is "it's the same amount of effort" because gallery buyers know what they want. There seem to be just as many buyers who want fancy compared to those who want everyday stuff. In the retail arena, the fancy sales are much more rare, but every show is different. After this latest calculation I think I will try to bring more fancy pieces to retail shows and see what happens. I will also consider shows that are more upscale and see what happens. It's worth exploring. And Vicki, artistic fulfillment is important, but it's not wise to dismiss the business side. Trust me that compared to working in the corporate world, this work is already packed full of indulgences. It's important to keep your eyes focused on the blessings. And to see the realities as realities, not sacrifices.

-Mea

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Callie link
6/28/2010 02:47:36 am

Thank you for sharing this with us! I often have trouble pricing things, and figuring out how much I am really making on something! Kudos to you for figuring it out and atcually keeping track of your time, a feat I cant seem to accomplish! Coming from a corporate world you have an interesting view point on this kind of work! I have learned too the things I love to make the most will never be my moneymakers! Good luck, cant wait for the next installment!

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Lydia
6/28/2010 01:55:39 pm

Hi Mea, I'm glad to hear you still have unexplored arenas for your upscale work. I would love to see on your blog how everything shakes out in the end. In a few years (hopefully very few) my husband and I will be relocating back to the Midwest, and at that time I hope to leave the corporate world for good. Making a living as a potter is my dream, so its very encouraging to see the type of information you've been posting on your blog. It's also a pleasure to see your beautiful work. I have a long road ahead to develop my skills to the point where I can make a living as a potter.

~Lydia

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Vicki link
7/5/2010 04:00:36 am

Mea,
good point about remembering that being able to work as an artist rather than in the corporate world is already "packed with indulgences"-- I admire your business approach and appreciate you sharing your analyses and conclusions with us!

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Olelé link
7/29/2010 05:11:05 pm

Hi Mea, thank you for taking the time to share your findings. I'm trying to figure out the right price for my fans, and find your method very useful. I'm already looking forward to reading more about your experiences. Regards, Karmele.

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    Mea Rhee (mee-uh ree),
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