On things that are more rely more on “perception” like signed trading cards of icons, figurines/statues or art. How do people price this. Like of course they’d have to cover their manufacturing costs and all that. But how much extra should they add? (Is it like a 10-25% markup?) Any advice or resources?
(Of course the market self regulates like those Hermes bags, but assuming your a company creating something limited. You could justify your price with time, scarcity and quality. But it’s still up to the consumers if they would buy. So how do you price it right?)
You should almost always price based on (perceived) value, not on cost.
The more unique, scarce, and offbeat the product, the higher you should price.
That’s true but how high? (I feel like if I price it too high people might not buy, do I just price it a bit lower than what I want. A more conservative price point?)