pricing of jewellry

[Emma]

how is the best way to work out good but fair prices for jewellry i make? i am using sterling silver wire, semi-precious stones, glass beads and other paraphernalia. i would be really grateful for some advice.

thanks very much

[Claire English]

Hi Emma, I found this one a while back, I played around with it quite a bit because it often feels too high, but it's a place to start anyway.

http://www.home-jewelry-business-success-tips.com/jewelry-pricing-f...

Eni Oken has information on her site and a formula that you have to pay for I think, there's lots of other really useful and interesting stuff there too.

http://www.enijewelry.com/

Hope that helps, but lots of artists here have been doing this a lot longer than me, they may have some help to give too.

Claire

[Emma]

Hi Claire,

Thanks for this information. I will have a look at it.
Best wishes
Emma

Claire English said:

Hi Emma, I found this one a while back, I played around with it quite a bit because it often feels too high, but it's a place to start anyway.

http://www.home-jewelry-business-success-tips.com/jewelry-pricing-f...

Eni Oken has information on her site and a formula that you have to pay for I think, there's lots of other really useful and interesting stuff there too.

http://www.enijewelry.com/

Hope that helps, but lots of artists here have been doing this a lot longer than me, they may have some help to give too.

Claire

[Lori Walla]

I have an even better -- and perhaps sillier -- question for jewelry pricing. My dilemma is if I purchase my wire in large bulk quantities to get the best deal I can, but the vendor has three or even four price tiers, do I base my pricing on my very lowest wholesale price, or the higher, yet still wholesale, price and go from there? People always tell me my prices are amazingly low, and I am just wondering if I am giving away my stuff. I only started making this after having a major stroke, so it was not my original vocation of choice. I'd appreciate any thoughts. Thanks.

[Claire English]

I read somewhere on another forum about a issue similar to this where someone was asking if they got a special offer price on beads should they factor that into the cost. The answer was mostly no, that if she had to replace those beads then she would have to pay full retail for them so it would not do her any good if she were to lower her prices. But pricing really is up to you as an individual, there are so many things to be taken into consideration. If you can always guarantee that your lowest price is what you can always get your supplies for then there is no problem but if you have to replace wire at a higher price you may need to factor that in. If I buy beads at wholesale I usually price them at that cost in my jewellery.

I would like to hear from some others on this also.

Some buyers may be wary of items which are too cheap but higher prices can also put potential customers off. When I began selling I was doing it as a way to pay for my bead habit but now I am thinking of making it into a proper business with the wire and findings. I need to make sure that I can cover all my costs and still make a profit and be able to offer wholesale without operating at a loss, all these factors have to be taken into consideration.

It is something I still struggle with. I'd really recommend looking at the work of other artists and how much it sells for as a comparison, I do still use a formula and find it indespensible, but it is nice to know that I am not over or underselling myself too.

Try looking at www.Etsy.com the prices are in dollars there. There are lots of different kinds of jewellery there as well as other handmade goods. Also look at Cass's website that sells high end wire wrapped jewellery from some fantastic artists in UK pounds http://www.wireboutique.com/epages/es113722.sf

Sorry for the long winded answer, I go t abit carried away :)

[Lori Walla]

Thank you Claire, and I LIKE long-winded answers. I tend to find them complete! I'll look up those links right now, and thanks again!

Lori