So when charging for a piece of jewellery, it's a matter of what
the seller thinks is fair, or this is what I gather from what you'
Fair is not the word that I would use. Jewellery is a very special
product, like no other. Handmade jewellery is always under-priced
regardless of what client pays. The thing to understand is everybody
is paid not in money but in lifestyle.
The shorthand for lifestyle is X number of dollars per hour. There
are some who hiding this number in surcharges for material. That is
where all formulas come from. I believe it is a very misguided
practice. Doctors, lawyers, accountants do not hide their hourly
charges, so why should we ?
The most valuable component in jewellery is the time expended on
making it. Someone may argue that gemstones are much more expensive,
but I am looking at value per unit of time. Diamond may cost several
hundred thousands, but if one considers how much time was invested by
thousands of people in prospecting, mining, sorting, transporting,
cutting, polishing, marketing, and etc - the hourly charge is
actually very modest My time is much more valuable. Another side of
the story is that transaction must represent a value to a client, or
the whole thing becomes a fraud.