I agree with Don. If you are making multiple copies of the same
design in silver with the only difference being size, use an average
price. You can treat those pieces that go outside of average as
custom work. Since you probably don’t stock these sizes anyway, they
are likely custom and can be priced accordingly. In my pricing
formula, the cost of silver is less than 20% of the final price with
the rest being labor and any makeup applied to my labor. Don’t forget
your indirect cost, sales and administrative cost, commissions,
profit and other cost. If you are buying stones and including them in
the design, treat this expense as indirect or other cost, but at
least apply a profit to them in some way. I cut most of my own
stones, so I treat them as part of the silver by weight. This may or
may not make sense to everyone, but it works for me. Working in gold
is a different story, but you still should be able to account for all
your cost in your price plus a good profit. In the end, we have to
price to the market we serve or make your own market. This takes
time. Good luck. Rob
