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How to work out a reasonable pricing?


#1

Hello all

Can anyone help me on how to I work out a reasonable price for my
jewelry. I got this Website up since December and I’m not feeling
comfortable with the prices I ask (I would never be able to afford
my own work).

Work that I sold so far was always worked out at: double the
material cost + 25 Euro for my time and effort. This also does not
feel too good it’s like “giving” my work away.

Would any of you be willing to take a look at my website and help me
working out what is reasonable to ask?

http://home.planet.nl/~grego079

For sale on the site are on: page2 pic: 1,10,11,12, Page3 pic: 12.
All are “one of” pieces of work. The rest on the site is either sold
or in my own collection.

I’m Open to other suggestions about my work or the site as well :))
(I know the guestbook don’t work I’m working on that.)

Thank you very much for your help

Nicky


#2

Nicky

Can anyone help me on how to I work out a reasonable price 

I know you will be buried in suggestions, but I will tell you what I
heard from an old woman who went to Santa Fe,

Retail price for you goods
Materials X 5 gross
Labor Going hourly rate you feel your time is worth.

The rational is this, you will loose material in the process, and
just general fubs. So figure your materials from gross weight, the
weight you start with.

Time, figure the time you spend making your molds, bending wire
everything you do on a piece from the get go. I have a timer that
will count to 99 hours, but the nice thing about it, I can pause it
when I do something else and continue when I get back to it. I also
keep a log of the things I do and the general time it takes to do
something. I have gotten better at things with time and on the time
it takes to do it. That also winds up in the price.

Nice range of design. I also liked the “In Memory” piece.

Terry


#3
I'm not feeling comfortable with the prices I ask (I would never be
able to afford my own work). 

I can’t help with this question - people tell me I don’t charge
enough either. But I wanted to say how absolutely lovely your work
is.

Tas


#4

I don’t know the Euro value enough to look at the pieces and say yes
that is fair or not.

But I can give you a quick and dirty formula that was passed down to
me:

Materials rounded up times three (one third for materials, one for
tools, one for time) is your manufacturing cost. (occasionally
adjusted upwards if difficult, time consuming, or prone to failures
of any sort)

Manufacturing times 1.3-1.5 is your wholesale price.

Wholesale doubled is your retail price.

and if your reatail price isn’t enough to make you wince you’re
probably undercharging.

That being said, if you have the strength to follow through on this
without rounding down anywhere you are stronger then most myself
included. Always round up.

Cheers,
Norah Kerr


#5

Dear All

I would like to thank you all for helping me out on my request for
working out a reasonable pricing for my jewelry and taking the effort
to visit my website to take a look for me.

The response was overwhelming around 350 people took a look for me.
WOW. A lot of you people took the time to write to me here on the
forum or personally. I thank you for all the good advise and the
complements you paid me. They really give me a boost in my
confidence!! I’m not long in the “trade” and don’t consider myself a
"Real Jeweler" jet.

I’m new to the orchid forum and never expected this much response!!

Thank you all very much.

And for you who wants to know the Dollar versus the Euro is

1 EUR = 1.23508 USD 1 USD = 0.809662 EUR
(this is how it stands today :wink:

Thanks again
Nicky
http://home.planet.nl/~grego079