You will never know how high is too high a price to ask until you get turned down. So, set your own price rediculously high and even if you don't sell at the pace you would like you will make more per pound in profit and may actually make a profit.
Anyone w/ a limited amount of honey should sell at a premium price, promoting the "Limited Quantity" aspect of a "Premium Product". People perceive a higher priced product as a higher quality product, whether it actually is or not. Exploit that human nature. Don't worry about the folks that walk by and buy the other guy's honey.
People who buy less expensive honey are welcome to do so. Nothing wrong w/ that. There is plenty of that out there. If you think you should get more for your honey then set your price and don't back down. There is nothing to gain by underselling yourself.
Don't you love Capitalism.... Supply and demand rules the roost. In my area it would seem that we have more supply then demand. If I go to craigs list I can find 3 posting of different apiaries that are selling raw honey (some with no chemical treatment) its running from $3.33LB to $6.00LB.
My original response was about an old timer dropping almost 100 hives 1/4 mile from my apiary on an agreement about refraining from such activity from either party. Its my mistake responding to the 5 gallon bucket genius' mental diarrhea in this thread.
My hives are all past their agreed upon 8 frames of brood for pollination and it looks like we might have to extract too to free up some drawn comb since I was set up to put my swarms into deeps but now I'm almost out of deeps and deep frames
Extracted honey is from $6/lb to $10/lb here.
Zone 5a @ 4700 ft. High Desert
That's not nice of you. lol
Well I got a call last week from the produce stand he bought the rest of my honey at my price still had alot of the old timers honey on the shelf.He said everybody liked the one lb plastic squeeze bottles and the sample bottle I left for potential customers to sample really helped sell my honey.
Don't you all just love a happy ending?
Good for you KenR. Still cant kick the Old Timer, moneys money in the pocket. I just hope to harvest enough next spring to keep my Family and Friends sticky all year.
Rereading my post I hope you people don't think I have anything against older farmers I don't I just hate to see all their hard work get sold for half of whats it's worth.He knows to the cent on what cattle are bringing every week but seems to think that six dollars a lb is too much.We talk bees all the time and he's got a nich in the market for folks that like chunk honey and I've told him before that his ladies have to work harder then mine to make the same amount of honey.
Once again, there is wholesale and retail. The little guy wants retail price. The big producer probably needs to sell at wholesale in order to sell all his product. He may not have time to run around marketing his crop.
Also, little guys tend to have an exaggerated sense of what their product is worth on the market. I often see proof of this on Craigslist.
Sell your honey. Try to figure out what it cost you to make a pound of honey and then decide what price would cover that, plus the costs of the jars, the labels, and caps and then double that. So what if you still have honey 9 months from now? You will make more profit from what you do sell.
If you don't think enough about your honey to demand a high price for it, neither will your customers. Every time I raise my prices I sell more honey. Maybe my customers see that higher price and think it must be better. Besides, it LOCAL!!
well said sqkcrk. it only takes a farmers bad year to keep things in perspective.
Since you've got it all figured out, how much would you suggest I ask for 20# of local beeswax, or should I sell 1# at a time?
For as much as you can. More than you competitor is asking.
> how much would you suggest I ask for 20# of local beeswax, or should I sell 1# at a time?
One place to get some level of wax pricing info is to look at the For Sale forum here. For instance, this thread offering wax:
--- Practical reality trumps philosophy!
Take 8oz round pieces made in cup cake pans down to the beach and sell them to the surfers for $3.00 or $4.00 each. People still wax their boards don't they?
" More than you competitor is asking. "
I'm fascinated by your answer. Must be some newfangled economic principle involved!
Rader: Thanks for the helpful link.
Last edited by Gino45; 07-22-2013 at 08:15 PM.
Zone 5a @ 4700 ft. High Desert