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  • Pricing jewellery

    Hiya

    I am having a real issue pricing my jewellery.

    Any tips?

    Deb
    Much love,
    Deb

    www.debrajacksondesigns.com

  • #2
    Originally posted by waitingformagic
    There's a few threads about it over here: http://www.craftsforum.co.uk/forumdisplay.php?f=52

    Including two recent ones from me, lol!

    Hope that helps xx
    Thanks - will have a look and hope it clears my cloudy brain!
    Much love,
    Deb

    www.debrajacksondesigns.com

    Comment


    • #3
      Hi Deb,

      I work out the cost of materials (I don't include the postage I paid though), add a cost for my time (usually £3 for about 15mins), double it, round it to the nearest 50p, and then adjust this sometimes if it looks overly cheap/expensive.

      I know lots of people do it in loads of different ways, you have to just find a formula which you're happy with. I would also say don't be scared to adjust the price at the end even though you've stuck to your formular. For example, you would normally expect a necklace to cost more than a matching pair of earrings, so if you're getting a similar value for both adjust them till it looks right.

      My stuff is mostly pretty simple to make so I don't add a huge amount for my time, but of course some people need to spend a few hours or days on some pieces so that really needs to be taken into account.

      Comment


      • #4
        If you are doing it as a business venture then the bottom line is you have to make a profit. Try to take into account all the factors that might affect the cost. e.g. if you are selling on a website using paypal don't forget you have to pay their commission. How much do your materials cost and how much time did it take to make the piece? Are there other people making similiar jewellery and how much do they charge?
        It's difficult but I think that a lot of crafters tend to undervalue their work which is a shame because generally people are happy to pay more for an item made by hand.

        Caroline
        silver jewellery at The Silver Jewellery Workshop
        bespoke handmade jewellery
        Silver Jewellery blog
        Handmade Jewellery Blog

        Comment


        • #5
          Originally posted by silverjewelleryworkshop View Post
          It's difficult but I think that a lot of crafters tend to undervalue their work which is a shame because generally people are happy to pay more for an item made by hand.
          oooh, contraversial!

          I was showing a couple of my byzantine bracelets to someone at work the other day and she asked me how much it was, when told the price she said it was far too expensive and she would only pay £5-10 for it!

          That doesn't even pay for the materials, never mind my time

          I also think a reasonable amount of skill goes into byzantine (as I have found out trying to teach this over the past two weeks, some people just can't grasp the technique)
          www.beadlab.com

          Comment


          • #6
            I know what you mean, it's so hard sometimes and us 'crafties' do tend to undervalue our own work, but whatever you do don't undercut yourself! Even if people make the "oo, that's soo expensive" comments. Which, by the way, don't seem to ever stop. I'm still learning to ignore them. Don't forget all your hard work and the fact that people are paying not only for the jewellery itself but for the design and your whole set up - tools, equipment etc.

            I started off with a formula of working out my profit etc but by doing that I kinda forgot about the perceived value. I actually find now that I can price certain pieces higher purely because they look like more work's gone into them.
            And, the higher the prices, the more desirable your jewellery becomes anyway.
            I remember reading once to stick to the highest price that you can sell something for. It is kind of trial and error unfortunately - try something at £30, if it sells really well put it up to £35. If it still sells then great, leave it at the higher price.
            Anyway, hope that helps a bit. Good luck with it all.
            Carla

            carla jennings jewellery
            my blog
            Carla
            carla jennings jewellery
            my blog

            Comment


            • #7
              Originally posted by chillibun View Post
              And, the higher the prices, the more desirable your jewellery becomes anyway.
              I remember reading once to stick to the highest price that you can sell something for. It is kind of trial and error unfortunately - try something at £30, if it sells really well put it up to £35. If it still sells then great, leave it at the higher price.
              Anyway, hope that helps a bit. Good luck with it all.
              Carla
              Nicely put chillibun. My brother runs a successful business and he is always saying to me; it's not what value you place on it that matters but what someone is willing to pay for it. If people like your work then they will buy it, it's all about the percieved price.
              Oh how i wish I had his confidence.

              Caroline
              silver jewellery at The Silver Jewellery Workshop
              bespoke handmade jewellery
              Silver Jewellery blog
              Handmade Jewellery Blog

              Comment


              • #8
                I agree with a lot of the comments so far - it can be something of a minefield!

                I tend to go with the cost-of-materials-then-double-it formula, but you really do need to think of ALL your costs! I've kept a set of simple accounts since I started and include everything I buy that's related to my jewellery making. That includes P&P, purchase of tools, the set up cost of my website, etc. When I compare that to my sales, even taking into account so far unsold pieces, I'm making a horrendous loss . I justify it by telling myself it's my hobby and what price can you put on the pleasure of creating something beautiful (sorry couldn't find an emoticon that fully captures delusion or I would have put it here!!).

                I also would agree with chillibun - my husband keeps telling me I shouldn't think in terms of cost-plus pricing but in terms of what it's worth and what people will be prepared to pay.

                Hope that helps. If not in practical terms, then in a supportive you're-not-the-only-one-out-there-with-this-dilemma sort of way.


                PS Did I overdo the hyphens a bit?!

                www.lindenblossom.com
                Regards, Carol

                http://www.lindenblossom.com

                Comment


                • #9
                  It's a difficult question to answer. If it's a hobby and you underprice your work, it makes it difficult for those people who are trying to make a living from it.
                  Best wishes
                  Carole

                  www.caroleallenjewellery.co.uk

                  Comment


                  • #10
                    Underpricing as a hobby isn't great as it makes much more difficult if you ever then want to turn your hobby into a business!
                    I'd ignore the "Ooh that's a lot of money" statements. I got that with a sterling silver European 4in1 once (chainmaille weave bracelet). The lady in question was wearing a Tiffany bracelet....I said....

                    "Yes I agree it IS more than a "high street" bracelet, but I see you're wearing a Tiffany bracelet so I'm sure you understand that good quality is worth paying for" (She mentioned that her husband bought it for her as a present). I continued "Here hold this bracelet and compare it to your Tiffany one." (She did and exclaimed how heavy mine was in comparison)

                    "Yes" I said, "This bracelet has hundreds of handmade and handwoven links and I know how much more work it is because I wove it. How does it feel on?" I slipped it on her wrist.....

                    By the end of the conversation she thought our bracelet was better value than the Tiffany one and (although she didn't buy that day) she became a regular customer of my handmade pieces. Goes to show you never can tell, sometimes it's just some education as to the difference between "Art Jewellery" and mass produced jewellery....I'm hoping she brings her husband in before their next big occasion and shows him that bracelet, lol

                    Nic x
                    **FREE to enter monthly draw on my BLOGS**
                    Different prize every month
                    Jewellery Creations & Shop Blog
                    PMC & Silver Clay Hints and Tips Blog

                    Comment


                    • #11
                      I've only ever sold at my children's school's christmas fair (family and friends etc) i really hate pricing up it's my pet hate! But a friend of mine prices up by counting everything she does.
                      putting on a bead=1point
                      putting on a crimp=1point
                      putting on a clasp-1point
                      1point equalling lets say 1=50p
                      That way she says she feels she gets something out of it rather than something that should take 10minutes which could take an hour (phone calls, children waking up, friend calling round etcetc)
                      Plus the cost of the materials and that's how she works out the price for her items. Which i think is quite a good way to do it.

                      Comment


                      • #12
                        its quite sad that some people seem to think handmade = cheap!

                        pricing is awful, like you say when you add on the cost of tools etc, its very difficult.
                        www.rocksforfrocks.co.uk
                        http://www.facebook.com/pages/Rocks-For-Frocks/230802980887

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                        • #13
                          Bums me off too!
                          I also GREATLY dislike when people are snobby and like 'oh u make jewllery....' as if it's not worthwhile! People who make their own put a lot of time and thought and expense into it, it's more than a hobby as you are being productive and working towards something, its not just leisure. I will never keep quiet when it comes to this!!

                          Once I went to my law class and said i was tired cos id spent the sunday night making jewellery, and someone laughed (but i went to work and went to school the next day so how is it sad!).

                          handmade jewellery is much better than cliche plastic. whenever i get whistles put it down to the jewellery and what im wearing/ what you create!

                          and like was said, sterling chainmaile must look like a work of art and pleasure to wear so may aswell go for the best
                          http://www.justgiving.com/renata-harris (1/2 marathons for World Society for the Protection of Animals)
                          http://flashsparkle.blogspot.com Vegan cookery

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                          • #14
                            I also meant to say that she added a £1 towards wear and tear of tools etc. I get fed up when people say oh you did it yourself how clever! you can hear it in the tone of voice. I'd always prefer to pay more for handmade because i know i put my heart and sole into what i make which counts for a lot. But to be honest most people don't see it. The only time i get really nice comments is when that person does his or her own craft and they know the time and effort that goes into making something yourself. But there's no point getting stressed out about it. Like someone else said (who makes cards) how would you feel if you saw your handmade card being recycled! Thank heavens i make jewellery and not something that can be so easily thrown in the bin!

                            Comment


                            • #15
                              yes I get nice comments from ppl who like jewellery, but dont know any crafters out, really.
                              Some guy i knew at school when he was tipsy (i was sober) said 'you make cheap plastic jewellery' or something.... never having seen ANY of my jewellery, just assumed cos i cant afford diamonds it wouldnt be any good. horrible eh trying to put u off!

                              bobby brown song 'my perogative'

                              oh and 'criticise' by alexandra o neil

                              -like you said, it is something you put your heart into, so hurtful when ppl are nasty when theyre not showing anything wonderful in comparison
                              Last edited by RenataHarris; 08-04-2009, 09:20 PM.
                              http://www.justgiving.com/renata-harris (1/2 marathons for World Society for the Protection of Animals)
                              http://flashsparkle.blogspot.com Vegan cookery

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