How Much to Charge?

Making jewelry is fun but selling it is a different kettle of fish all together. Figuring out a system of pricing is tricky. How much is too much? What is a fair wage for your time? How do you figure in overhead, packaging, tools, etc. There are many formulas that jewelry designers use. 

There is a very nice price calculator developed by Eni Oken for Microsoft Exel users. You can purchase it here: http://www.enioken.com/jewelry/pricecalc.html

One factor to consider is your market. If you live in a major city you have many more options than you do if you live in a rural area as I do. In a city, selling a necklace for $200-$300 might be very reasonable but in the rural areas $50-$60 is about as much as people are willing to spend.

My formula is 2.5 x materials plus labor. You determine how much your time is worth and add that, per hour, to the materials cost. Some artists just multiply materials by 3, 4, or 5 times and figure the labor will be covered. Whatever formula you use, be consistent so that your prices won’t fluctuate wildly. 

I must admit that I still struggle with pricing. It is my least favorite part of selling jewelry.