[Pricing] 14 kt. gold jewelry

Up until know I have been working in sterling silver. I just
had a pendant which previously I had cast in sterling cast in 14
kt yellow gold. The casting cost me $44.70 and the stone cost
$10.00. It takes me approximately 35 minutes to set the stone
and finish the piece. What would be the wholesale price and the
retail price? What is the process for coming up with a reasonable
price? At this point I have not included the cost of the chain.
How much should I add on for the chain? I am planning on
eventually switching to working mostly with 14 kt. I need some
help figuring prices. Thank You. Vince LaRochelle, Eugene, OR.

Oh! Happy New Year to all.


The formula to figure your wholesale price goes something like:

$44.70 + $10.00 + ( 35/60 * your hourly bench rate) + your
margin for overhead + a reasonable profit = Your Wholesale
Price. $44.70 + $10.00 + (35/60 * your hourly bench rate) + your
overhead + a reasonable profit * 3 (or whatever the traffic will
bear) = Your Retail Price.

Both formulae will vary wildly depending on your customer base,
the area you sell in, your talents and abilities, both at the
bench and on the sales floor, and the pressure of your
competitors. Good luck!!