Yes, Michael said it really well.
I price my pieces: [cost of silver or gold (what it cost me to buy,
not the spot price, and I include s/h) + findings + stones] x 3, plus
[hours of labor x my rate]. It’s up to the gallery to price per their
For a custom piece, there should be a premium price! You are making
it to fit the buyer’s need, and the buyer should pay for that.
Regarding the price of materials, you must not only make up the
price you paid, you must also replace that item, and pay yourself for
your investment, risks taken, any waste involved, etc.
Remember, you MUST pay yourself (time, energy), replace your stock,
account for risk, make it possible to invest in better materials,
bring peace of mind, improve your skills. Otherwise, it’s just a
vanity game, and you are throwing money at everyone but you.
May you have much joy in what you do, and profit from your labor &