Is there a formula for pricing jewelry? Right now, I’m just grabbing
numbers. I don’t want to over price nor do I want to cheat myself.
** Hanuman’s Response **
Hi;
Discussions over this topic took place few times over the last
couple of years at the Orchid forums. You can retrieve
the threads by running a keyword search for ‘pricing’.
Check out the following address to learn moRe:
http://www.ganoksin.com/orchid/archive/
Best Regards
Hanuman
Im worried about you!!
Dont cheat yourself, or the price could stick! Well first of all I
decide what I should charge myself per hour, and then before I start
on a piece I dot down the start time and go from there, then I count
all components, eyepins, headpins, jumps, pearl, and crystal, and add
the costs.
Then total up, this is my way of doing it, I know its going to be
different if you are working with precious metals.
Good luck
Tina
Dublin, Ireland
some do three and a half times the material cost. But, don’t forget
to make sure you pay yourself enough to live on!
On this value of a piece or how to price question. I recently had a
young couple come in describing a ring they had seen at a local
’wally world’ type store.
It was a trio wedding set in yellow gold with black enameled crosses
on either side of center on all 3 rings. I recognized it as a
Stuller mounting from their religious catalog.
They wanted the following changes: White gold instead of yellow,
remove the crosses from the engagement ring and replace the .05 (I
think) round to a .15 pear (SI 2). Size all 3 down.( I also added
2-.01 rounds and 3-.02 rounds)
I quoted them and did the job. They came to pick it up and were
impressed that the undersides were not hollow as they had seen in
the other store. Then told me that the price in the other store had
been $3000.00! I felt I could have made a LOT more money! UNTIL I
wrote the down to be transferred to an appraisal. Try
as I might I could not justify that number.
I don’t know what that store was using for ‘value’ but I decided
that if I had gotten more than I did I would lose sleep.
If anyone would care to put a pencil to it and see if you can get to
$3000.00 I’d like to know if I missed anything. Going from memory:
it’s Stuller R16655(D?) Upper left corner of page 49 (?)
Thanks, Jay
Most retailers are no longer interested in the standard 2x or 2.5x
markup when they buy wholesale. Most are looking for at least 3-4x,
with some wanting 5x markup on the price they pay wholesale. I’ve
been selling wholesale for a while now, and really struggle with what
I can make that will still keep the “perceived” value of the piece in
check if the retailer wants to mark it up 3x.
Catherine