VIC Setting Prices for Products

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now

Kiwazaru

Member
28 July 2019
2
0
1
Hi all,
I have a question about how I can legally set a price for my product?
I just established my business, got my products made in Asia, then I imported it back to Australia.
In this case, is it a fraud if I set my prices way lower than any other similar ones in the market? Because I have a good source of manufacturer, shipping,etc. which reduces my cost.
I really need an advice before setting rhe prices! ;(
Thank guys!
 

Rob Legat - SBPL

Lawyer
LawTap Verified
16 February 2017
2,455
511
2,894
Gold Coast, Queensland
lawtap.com
So long as you’re not setting an artificially low price to damage competition and you’re not in a price regulated market (both of which are unlikely), then you can set your own price.
 
  • Like
Reactions: Kiwazaru

Kiwazaru

Member
28 July 2019
2
0
1
To be more specific, my products are disposable gloves. In Australia, they are around $120/carton, but my price will be just around $70/carton. I don't know is this industry its price regulated or not.
 

Rob Legat - SBPL

Lawyer
LawTap Verified
16 February 2017
2,455
511
2,894
Gold Coast, Queensland
lawtap.com
Not to my knowledge.
 
  • Like
Reactions: Kiwazaru

Tim W

Lawyer
LawTap Verified
28 April 2014
3,922
720
2,894
Sydney
Not to my knowledge.
Nor to mine.
Go ahead and sell at whatever price you choose.
Consider however that a price that is (thought of by would-be cusomers as) "too low"
might make the customers think (right wrong) that they are of lesser quality.
 
  • Like
Reactions: Kiwazaru