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To be perfectly honest, in my experience, raising the price does absolutely nothing to demand. I thought I'd see a difference, but there has been no slowing to be seen.
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That might be because your work is so highly valued that you do not realize how much so.
There is always a price that will bend the curve. It takes time to find. Small changes are a good thing. Eventually you will hit a price where orders take a turn. If you raised prices to $500 a holster, I think you would see a dramatic difference in demand (no, I am not advocating this, just using it as an extreme example)
I can appreciate the reasoning for Milt Sparks, but I do wish he had said it a bit differently.