Hi, I am new here. I was told this was a good place to post. I make sterling silver snowflakes, one inch diameter. They cost around $40 to make (3d printed wax), and I would like to sell them for $90. But when I talk to people they say they can get a mass-produced silver pendant $20. Looking for some advice on how to price these and other custom pendants made through 3d printed wax?
There are many categories of jewelry that could be considered highly saturated, and extremely price sensitive…
With that said, I have personally experienced that there is still room at the table in that kind of environment.
I suggest that you:
work to make your pieces worthy of the value that you price them at
work to differentiate your pieces from the competition
research the price range of the competition, to have a clear idea of what is out there, but do not assume that your pieces must match the lowest prices
do not underestimate presentation, packaging, branding
most importantly, learn what channels of distribution are out there for you to harness…and learn how to sell thru them…if no one sees your work, it does not matter the make or the price…this is probably the hardest part of the job.
for online, i suggest focusing on a tight niche market…like snowflakes…versus a broad category…so thats one box checked!…