Question: Does a slight increase in prices actually increase sales?

   When I first heard this sales tip, I didn't think it would be effective.  Why would customers want to pay more?  But the idea is that if you increase your prices, it increases the perceived value of your work.  Business was slow, so I decided to try it and find out for myself.

   I increased the prices of a few items in my etsy shop, and within about a week and a half, I had 8 orders to fill, 6 of which were custom orders.  That might not sound like a lot of orders to you, but to someone who has just started their business, it was an exciting week.  However, I can't prove that this drastic change is solely due to the slight price increase, it is definitely a factor to consider.

   I have also found that many sellers, especially artists, on etsy undervalue their work.  When I see items similar to mine that are significantly cheaper, I think, "How is your time not worth more than this?"  I try to charge what I think is fair, but even I feel I'm not charging enough for how much time I put into each piece.  But it's all about perceived value.  Is it better to have prices too high or so low you're not making what your time is worth?