[Jewelry making - Article 00466] - Re: [Orchid] Bench jewellers working for the trade

[Kimberly Starbard]

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Hi

>     So, I will have to pay a 5 year jeweler to make the $500 ring, and
>     a 20 year jeweler to make the $60,000 ring. The fact that I am both
>     is really beside the point, because it could be that I'd need to
>     farm it out for some reason, and it WOULD be out of pocket. 

    Coincidentally, I was just thinking the other day that the same
    concept would apply to one's product line. I currently do a lot of
    bead weaving and some bead stringing (if I want to suspend a pendant
    from something other than a neckwire). 

    If I were to make (say) a silver/gold pendant with a stone and
    granulated accents, I would pay myself x amount for the work/ per
    hour. If I were to make a 1, 2, or 3 strand beaded necklace to
    suspend this pendant from, I would pay myself x-y/ per hour. My
    reasoning is that, if I now pay myself x-y and I were to continue
    paying the same as I acquire more skills, I'm under-pricing my work.
    Yet, if I were to continually raise my hourly rate to that of someone
    with more skills, I would price myself out of the market. 

    I check when I can on other work out there, so that I can compare my
    prices with what's currently on the market. I'll continue to do
    that, but does anyone have any opinions on my type of thinking on
    prices? 

Thanks
Kim
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