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Mastering pricing my jewellery

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  • Mastering pricing my jewellery

    Hi everyone

    Really wanted to ask for some advice, I know this question is constantly popping up but still baffles me.
    i want to start approaching shops to sell my jewellery but so difficult working out what price to offer so I'm not at a loss or I will never be able to do this full time if I don get it right and the confidence.

    Ive made a bracelet semi precious stones and sterling silver
    £3.66 cost of materials
    mutiply by 2.5 = £9.15
    £3.00 - labour cost
    = £12.15
    Would that be my whole sale price. I would like to sell the bracelet for £20 retail price on my website but the wholesale price doesn't leave me with much £ 5.49

    Am I doing this right. Your advice and experience would be apprecaited.

    Thanks
    Eve
    www.etsy.com/shop/ZoeEllenJewellery?ref=pr_shop

    http://www.facebook.com/pages/Zoe-El...ref=ts&sk=wall

  • #2
    Hiya. Take a look at this website for some good advice http://www.ejrbeads.co.uk/pricingjewellery.htm

    And based on your current wholesale costs you should belling your bracelet at the retail price of £24.30 - which I would round up to £25.

    Getting the pricing thing right is hard. I made a necklace the other day and it took me 5 hours - there was a lot of work in it even though it's a simple piece. Even if I only base my labour rate at £6 per hour then 5 x 6 = 30, my components cost around £2 so my most basic wholesale price is about £35, retail price is £70. Hmm....I dunno......I'd have to make a similar one and see how long it would take 2nd time around as I would know in advance what I was going to aim to do (it's quite an artisan piece to be fair.)

    Anyway, you're probably pricing yourself a little to low. Scary but true.

    Deb
    Custom tribal belly dance costumes & accessories

    Unique jewellery for those who love to turn heads

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    • #3
      This may help http://www.etsy.com/blog/en/2012/a-s...ing-your-work/

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      • #4
        Thanks Deb and Caroline.
        That has really helped, thanks for your time
        www.etsy.com/shop/ZoeEllenJewellery?ref=pr_shop

        http://www.facebook.com/pages/Zoe-El...ref=ts&sk=wall

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