Messages From beadingaholics

 


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#2758 May 16, 2004

HI all,

I've noticed a lot of questions on pricing jewelry items. I'm not an

expert on this, but I have had several suggestions passed down to me

through other friends who are artists/jewelers.

One rule of thumb is to say..... what ever the cost of the materials,

double it, or in the case of really pricey raw materials like pearls

and gold, triple it and that's the cost of the item for you to sell

and make something off of it. This does require that you keep

reciepts and know the cost per item and keep very detailed records

while making the item. I've done this by keeping a little sketch book

with me while working and then when I'm ready I put the info on a

spread sheet in excel. I keep it pretty simple, but there are really

detailed programs out there for beaders that keep track of all costs.

You can find some of those programs in bead magazines. I dont recall

the names of the programs off hand, but check out B&B and I bet

somewhere something will pop up.

The system of doubling can get a bit goofy as on some pieces I've

maybe used about $10 worth of beads, maybe a $5 silver clasp and yet

I've probably spent a good 2 to 3 hrs on it and it has multiple

layers and has taken some skill to put together. In this case, then I

add an hour or two more to the cost of the item to pay for my time.

Or in the case of the present that I gave my mother for Mother's day.

I bought some turquoise beads, silver mix from FMG and some dragon

fly SS charms plus a few more items that I can't recall off the top

of my head. Anyway, the total cost just the items for her necklace

was close to $60 without shipping costs involved. I figure I could

easily get 120 for just the 30" necklace and matching earrings. I

also made a 8" bracelet and made earrings out of the dragonfly

charms. Sorry I didn't take a picture of this before I sent it to

her, but this was also a project where Murphy's law was playing

havock with my beading wire and my sanity and I wound up stringing

this project 4x. sigh. anyway.............

Another guideline is to give yourself a 'salary.' What do you

consider your time to be worth? I'd say at least $15 an hour is fair

if you have been doing jewelry for more than say 6 months steadily or

have been working at it for more than a year off and on and have been

showing and have few tools or need few materials. If you are a

profession and have other costs such as casting materials, kilns,

torch, propane/oxygen tanks, glass rods/mandrals highly specialized

tools, etc. then pay yourself no less than $30 an hour. My friend who

is a silversmith says that's one way to get some of your costs back

if you use materials that are hard to figure out per item. Remember

tools cost and so do your traveling expenses. Include those when you

figure the cost out.

Also if you are showing where they are taking a percentage of the

sales, then you have to increase your price by that much. Sadly, that

increase really can affect sales, and so some folks give buyers

a 'cash' discount to get around some of that percentage taking.

Any way you look at it, remember you are your own employee and really

should pay yourself an honorable wage--more than $2 an hour. That's

why smaller items that take less time are often 'money' makers-- less

materials and less time mean basically one way to get your 'business

card' (sample of your work) out there and get your rep established

within the business community where you are located.

Just some ideas. Has anyone else heard of other guidelines? I know

Craft Report is an EXCELLENT magazine to get ahold of if you are

actively interested in showing in the show circuits.

Cat







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#47701 Jul 1, 2008

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Hey Ladies,=0AI'm relatively new to jewelry making and to the group....I've=

been having some trouble when it comes to pricing my work, and thought I w=

ould ask the group for=A0your suggestions.=A0 I find that if I price my wor=

k taking into consideration all the time it actually takes me to make it (I=

make the beads myself) my work becomes very expensive, and it becomes hard=

er to sell.=A0 If I lower the prices, I'm not really compensating myself fo=

r the time I spent making the piece.=A0 I've been playing around with tryin=

g to price my work, accurately, but still have trouble.=A0 Does any one hav=

e any suggestions?=A0 I would greatly appreciate any suggestions.=0A=0A=0A =

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html>head>style type="text/css">!-- DIV {margin:0px;} -->/style>/head>body>div style="font-family:times new roman, new york, times, serif;font-size:12pt">DIV>Hey Ladies,/DIV>

DIV>/DIV>

DIV>I'm relatively new to jewelry making and to the group....I've been having some trouble when it comes to pricing my work, and thought I would ask the group foryour suggestions. I find that if I price my work taking into consideration all the time it actually takes me to make it (I make the beads myself) my work becomes very expensive, and it becomes harder to sell. If I lower the prices, I'm not really compensating myself for the time I spent making the piece. I've been playing around with trying to price my work, accurately, but still have trouble. Does any one have any suggestions? I would greatly appreciate any suggestions./DIV>

DIV>/DIV>

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