[Jewelry making - Article 00129] - Re: [Orchid] Jewellery pricing

[Kimberly Starbard]

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Hi:

>     When making my own jewellery, I work out the cost price and then
>     add on my time charged at an hourly rate - can anybody suggest a
>     better way of pricing jewellery bought from a wholesaler? 

    I'm not an expert, but you may be leaving out the retail mark-up
    from your pricing structure. For a while, I was part-owner in a bead
    store and the way I learned to price my jewelry is this: Charge for
    my labor and add on twice the cost of my materials. From your post,
    it seems you are only charging for your labor, thus underpricing your
    work. When buying beads (or anything else) from a wholesaler, I
    believe it is normal practice to double or triple (depending on the
    demand) the cost of material to get the retail price. Don't forget to
    add in the costs of obtaining the material also (ie. shipping charges
    or, in my case, train fare to go and pick up the stuff). Your final
    price, however, should not be too far out of line with what other
    area retailers are charging. I hope this helps, 

Kim Starbard
Cove Beads
 
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