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HELP. Did I price this out correctly?3/19/16
To hit some bullet point details about the cabinet
Thanks in advance for any input from folks. This has been a very challenging client and I just am looking to determine if I'm being reasonable or not.
Why is the price of the piece coming up now, when it's done?
I Priced it at $6,775 Which I felt was Giving them a really good Deal.
Very close to what I would charge here in GA.
With the details you explained plus a difficult client, I think your a little low. You didn't mention anything about the install, is that in your price as well?
Yes, that price did include the install.
In my market that cabinet would have brought about $12,000. From the picture it looks as if the craftsmanship is ok, certainly worth the price they paid.
Too cheap. $9,500+ in my neighborhood.
That would have been $7,900 at my shop.
Chad is right, why on earth is there a cost conversation now? This should be budget out before drawings and priced with approved drawings. You are making this much harder than it needs to be.
9k + easy
That's cherry? It looks like it has been painted.
I would never want to be in a meeting with an angry person capable of throwing a door.
One man shop I would have done it for 6K plus install. Most of my cherry has some "figure" to it this looks a bit bland for cherry but hard to judge without any lacquer. If it was stained I definately would have veneered the top to avoid the end grain showing. Even with it clear coated I likely would have veneered it. Great design and build!! Looked to be enjoyable.
I think you are too cheap. Add $2K!
Shop finished in cat lac, with glass, installed as described. Close to 10k in central Jersey.
Pricing up front.
Time and material pricing could be done, under contract, with the right customers.
If you are just cutting your teeth, this is fine work, and depending on your market, may be a reasonable price to start earning some customers and getting your name out.
Don't be shy, when it comes to pricing work. Not all potential customers are actual customers. And you will not know, until they understand the cost of your work.
Wow, that's very cheap for the amount of work being done. Honestly, is that not at least 120 skilled labor hours of work? So if you have a shop, insurance, etc normal overhead, at $50/hr for overhead plus 1 skilled cabinetmaker, you're already at $6,000 before materials.
We would be around $12,000 - 13,000
Thank you all very much for your input, This has been very helpful for me.
12K+ in mid atlantic area. (incl installation)
I may be unclear on situation, but unless something unexpected has changed the scope of work, I would not ask for more money after project has been started. Even if it is a money loser, just chalk it up to experience.
Unless you've left out some very important information, you've done something very wrong here. What it would cost others to build, or even you to build, is not really all that important. The issue is why has it been built without the client already knowing the cost? Has the cost gone up since it was started? Was there never a cost agreed upon?
You see.... a guy working out of his garage can build something far cheaper than someone paying several thousand a month in overhead. So while it always handy to see comparisons, it's the far lesser issue here. The real issue is why this is even a topic of concern for you. If there was no agreed upon price, or if it changed during the project, your likely going to end up with the short end of the stick, and quite possibly deservedly so. So in answer to your question based on what info has been provided...no, you did not price it out correctly.
You have less than 2K in material if your buying right. One skilled person should knock this out in a week without finishing or install. Add one more week for that. So if your working alone or with maybe one helper at 6 k you did alright. It ,as other here have said , depends on your market area. Here in NE Pennsylvania I would be just slightly higher than you closer to 7 k.
It come down to what your happy with not what any of us would be charging.
I am a finisher and would need at least 40 hours to apply a Post-Cat finish (like MLC Krystal, never waterborne lacquer on Cherry). Would also need to adjust the color for the light panels of cherry veneer to the solid hardwood. $60.00 per hour for labor, materials would be another $350.00.
I don't believe you made much money on this project.....but you are employed!
Robert J makes the point that at least "you are employed!"
That is true. What Jeff D and Harry D said are the most relevant answers in all the above. If you just talk dollars per project, you will never get beyond dollars per project. You need to learn real costs: overhead, labor rates, profit margins, markups, etc.
You may have a job, but you probably don't have a business. So.....the question becomes "What do you want?"
It is all about you determining what you need - knowing your true costs - and then determining a price that is a true and accurate rendering of the product.
I have seen many guys go all glossy eyed when they hear $40,000, and agree to anything and everything. Then, after 4 months on the job, and no money to get those last hardware bits (at retail prices), and no money in the bank, they grab a scrap of paper and figure out they have been working for minimum wage. The other shops that did a real, specified bid at 52K to 60K knew what they were doing, and had control over the predictable costs.
Go to the root of your business and determine if it is indeed a business or just a job. There used to be lots of good conversations here about this, and you should be able to find them in the Knowledge Base.
nice piece. i wouldn't touch that job for less than $12k.
$13,500 here in SF high end market
If you mentioned where you're located, I missed it. In my part of the country you would be priced close. Probably 7-8k...Kansas/Missouri.