Full Version: Perceived value #1?
From: UncleSteve [#1]
26 Jul 2005
To: ALL
In another thread Harvey and I are tweaking each other a bit.....
It started when I stopped by his and Deena's shop and saw a piece as I described in the other thread.
Harvey and I have quite a spread between what we consider perceived value of the very unique item.
What does any/everyone think of posting pic's of some "different" items that we are unsure of the perceived value and get opinions. I know the value will vary based on location, clientele and experience, but I think it might give ideas of what can be done and a pricing range.
EDITED: 28 Jul 2005 by HARVEY-ONLY
From: Laura (ELLEMD628) [#2]
26 Jul 2005
To: UncleSteve [#1] 26 Jul 2005
From: gt350ed [#3]
26 Jul 2005
To: ALL
From: laserman (MIKEMAC) [#4]
27 Jul 2005
To: UncleSteve [#1] 28 Jul 2005
Uncle steve,
OK I will start off lets see what everyone thinks of the perceived value of this. Then I will let you know what it actually cost to produce.
EDITED: 24 Oct 2006 by MIKEMAC
From: Ken D. (KDEVORY) [#5]
27 Jul 2005
To: laserman (MIKEMAC) [#4] 27 Jul 2005
Two questions:
1) Material? engravers plastic, black anodized
2) Size? 3x5 and 8x10 will have different values.
From: laserman (MIKEMAC) [#6]
27 Jul 2005
To: Ken D. (KDEVORY) [#5] 27 Jul 2005
Ken,
The size is 8x10 to tell you the material will take all of the perceived value out of this experiment. I thought the idea was to see what everyone would think something like this and other projects would be sold for thus perceived value. If we divulge the materials used the value will be based on that.
Believe it or not everyone that sees this sample does not believe it is done on the laser. What does this say about the perceived Value
From: Ken D. (KDEVORY) [#7]
27 Jul 2005
To: laserman (MIKEMAC) [#6] 27 Jul 2005
A photographer might charge $45 for an 8x10 photo. For an 'engraving' of that photo I might guess $90 - $120. That said I don't consider myself one of their customers. What would I pay? A closer look and appreciation of the craftsmanship. It would have to be cheap for me to consider it, I am not the target audience for such an item.
With this item the prospective customer would need to know it is an engraving - that's where the value comes from. (Yes, that would tell me (us) how much it cost to make.)
(Not preaching to you Mike, just trying to contribute one perspective to the thread.)
From: Laura (ELLEMD628) [#8]
27 Jul 2005
To: laserman (MIKEMAC) [#6] 27 Jul 2005
I'm *guessing* this is done on plastic, which would potentially lower the perceived value. However, fully assembled with the frame it looks to be a very nice item.
I have a 6x8 aluminum photo mounted on a black piano finish plaque for $50. So, an 8x10 framed photo such as your example I would probably start at maybe $65 (?) depending on the time and material. (And maybe my numbers are way off, I'm still learning too!)
If it IS in fact plastic, and very inexpensive and quick to do, to detract attention from the idea that it's "just a plastic photo", I would present it as nice option for budget conscience shoppers who can't or don't want to spend the additional money on marble or granite.
Bottom line is it looks very nice, who cares what it's engraved on... especially when it's framed. Maybe even mat it in the frame, it all adds value.
From: Sei (SEIMA) [#9]
27 Jul 2005
To: laserman (MIKEMAC) [#6] 27 Jul 2005
Clear acrylic with a piece of black felt or construction paper behind it.
Engraving time on an 8 x 10 computes out to $35ish. Materials are negligable. Frame looks like one I've seen for under $4 at Wal-Mart... I'd probably want to charge $60 for it, plus a scanning fee, but if I were buying it I wouldn't pay over $40.
Granted, though, I'm one cheap SoB.
Sei
From: Harvey only (HARVEY-ONLY) [#10]
27 Jul 2005
To: Sei (SEIMA) [#9] 27 Jul 2005
Engraved on plastic, complete, I would guess it should be about $55.
On marble about $85.
If you make it too cheap the customers will think it is cheap.
[I know, UncleSteve, I know. I will probably raise the price on that item, sales cannot go down.]
From: Stunt Engraver (DGL) [#11]
27 Jul 2005
To: laserman (MIKEMAC) [#4] 27 Jul 2005
Unless I'm missing something (probably) I don't see anything to say it's not a typical B&W photo in a frame.
In that case, I'd say, "Why not just offer a B&W photo in a frame?"
Perceived value? $30.00
From: Pete (AWARDMASTERS) [#12]
27 Jul 2005
To: Stunt Engraver (DGL) [#11] 27 Jul 2005
David,
There must be something wrong with the logo at the top of my page. It looks good :)
From: laserman (MIKEMAC) [#13]
27 Jul 2005
To: Stunt Engraver (DGL) [#11] 27 Jul 2005
The fact of my sample is that it is lasered onto engraving plastic. Total cost of materials+labor is about 17.00 and most was laser time. The point I was trying to make here is you don't have to spend a lot to make a lot.
Now the big question is would someone pay 30, 40.00 or more for something like this. We did not do this to sell just to use as a sample of how the laser works.
I still get the NO WAY WAS THAT LASER ENGRAVED I have to actually take it out of the frame to prove that is was laser engraved.
perceived value is what people think it is worth if you can get a perceived value from something that does not cost anything to produce then that equates to more money in the pocket.
Keep in mind that we are not a retail shop. But if I can show you what a laser can do with minimal expense then I have done my job to open your eyes to the possibilities.
EDITED: 27 Jul 2005 by MIKEMAC
From: Cody (BOBTNAILER) [#14]
27 Jul 2005
To: laserman (MIKEMAC) [#4] 27 Jul 2005
(I'm typing this as my wife tells me what to say)
With this type of photograph, a wooden frame takes away from the meaning/feeling of the picture. The picture is "delicate", but the frame is almost harsh...it diminishes the special moment that the photo tries to portray.
To properly display the photograph/image, one would need a silver or gold frame. It could even be glass or crystal...anything that looks "delicate".
Perceived value? Not very high with that frame.
However, with a silver or gold frame, one could easily get $50 (depending upon the material). Of course, that depends on the material being used for the engraving.
(Wife has now left the room)
I would have NEVER noticed the frame / picture clash that she pointed out. Then again, she notices a lot of "feely" things that I simply do not.
From: laserman (MIKEMAC) [#15]
27 Jul 2005
To: Cody (BOBTNAILER) [#14] 27 Jul 2005
Cody,
Your wife is probably correct I am a cheap person and this frame was purchased at the 99 cent store. The reason for the frame was to take ones eyes away from the material it was engraved on.
For my showroom samples I am not going to invest lots of money just for displaying purposes.
Again the point being you don't realize that the material is plastic when it is framed and with a nicer frame more perceived value.
From: Stunt Engraver (DGL) [#16]
27 Jul 2005
To: laserman (MIKEMAC) [#13] 27 Jul 2005
We're probably not the right audience to judge perceived value, because we (generally) know the processes used, the time involved and the wholesale costs of materials.
To get a true measure of perceived value, we'd have to approach people with none of that knowledge.
Another part of the equation is what equipment people personally have at their disposal.
Many people in the general public have desktop printing capability, which might have them saying, "Why should I pay for something I could make myself?"
If the selling point is the fact the image is laser engraved, people may attach more value to the item.
Not too many people, in the general public, with laser engraving machines at their disposal. :-)
Thank you for posting the example.
EDITED: 27 Jul 2005 by DGL
From: logojohn [#17]
28 Jul 2005
To: laserman (MIKEMAC) [#4] 30 Jul 2005
Metal has a much higher perceived value than plastic.
I put some of the new red alder JDS frames on display a few months ago and haven't sold one. We sell pressboard plaques for twice as much all day long.
Maybe you could get the photo to come out good on some type of metal.
A black brass plate with the lasered gold photo would differentiate it from just being a paper picture also. It might even sell for more mounted in a frame without the glass.
You have to "invert" (like a negative) the image if lasered on a dark background.
Gold with black would also look rich.
It will vary by your clientelle. Here we have a lot of business people. I could sell the plaque with a metal plate for 3 to 4 times what I could get for anything in a frame with the same amount of work and material cost. For regular consumers just wanting a picture of their relatives, it wouln't likely sell well though.
From: UncleSteve [#18]
28 Jul 2005
To: Cody (BOBTNAILER) [#14] 28 Jul 2005
Cody, I started this "game" and have been sitting back waiting for someone, in this case your astute wife, to strike the pointed object with the heavy weapon of choice....
PERCEIVED VALUE WILL DIFFER CONSIDERABLY BASED UPON PRESENTATION!!!!
Even knowing the material costs and labor/time required still brought out nice margins pending changing the frame in this case!!!!
Hang it on the wall in a corner vs. placed prominently on a shelf in a highly visible and illuminated place in your display/shop/window.
Also, the subject matter on the display piece is very important.
NEVER get into the habit of using "mistakes" for display items.... especially if there are misspellings or errors in alignment on the sample.
From: Cody (BOBTNAILER) [#19]
28 Jul 2005
To: UncleSteve [#18] 29 Jul 2005
However, I have a few items that have misspellings that no one will ever notice (odd names).
I also have a couple of photos on acrylic that aren't quite centered. However, you either have to have a good eye for centering (as I do), or a ruler to tell that it's not perfect. I've invited a couple of folks to tell me what they could find wrong, and no one has been able to tell (the errors really are small, though).
Presentation plays a huge part in perceived value. If you don't value the item enough to give it a prominent spot in your showroom, why should a customer give it more value?
From: UncleSteve [#20]
29 Jul 2005
To: Cody (BOBTNAILER) [#19] 30 Jul 2005
Cody, I agree that there are mistakes and there are misteaks..... :O
It is the "misteaks" that must be avoided. And what's with these parents that give a child a name that the parent can't even spell?
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