Im new to this group

Hi my name is Becky and I have been making jewelry for several years
now. I really enjoy the creating process. I recently opened up a shop
on Etsy (zoiedesigns), and google base, and am attempting to sell
some of my creations. I have a hard time at pricing items because I
look at other sites and it seems prices are a lot higher that mine. I
just raised my prices to include S?H . I want to sell some things but
not gouge people. My friends all tell me my jewelry is priced too low.
But I don't think it is. Is there a rule of thumb to go by when
pricing jewelry? Well just wanted to say hi to everyone and looking
forward to getitng tips and info.Becky (zoie)

You need to cover your costs and pay yourself for labor (for how long it
should take, not fiddling around). I don't see how you can gouge people.
It's not like they have to buy your jewelry. If they think it is too high
then they just won't buy it. Use quality parts and do a good job so it
doesn't fall apart and they shouldn't have much to complain about. Though
you will get a few complainers anyway.
Some people will only buy cheap jewelry, other people will not buy jewelry
that is priced too low. So see how your sales go.
Just my two cents worth.
Some other folks here might have a more definitive pricing answer for you.

CR

"Zoie" wrote in message
...
Hi my name is Becky and I have been making jewelry for several years
now. I really enjoy the creating process. I recently opened up a shop
on Etsy (zoiedesigns), and google base, and am attempting to sell
some of my creations. I have a hard time at pricing items because I
look at other sites and it seems prices are a lot higher that mine. I
just raised my prices to include S?H . I want to sell some things but
not gouge people. My friends all tell me my jewelry is priced too low.
But I don't think it is. Is there a rule of thumb to go by when
pricing jewelry? Well just wanted to say hi to everyone and looking
forward to getitng tips and info.Becky (zoie)

I'm new to the group, but I've been selling stuff for about four years. The
formula is 3 X the cost of the materiel, and whatever you pay yourself for
your time. Which my mentor says is $12/hr for us (considering our venues
and places of residence.)

We work mostly with sterling and Swarovski.

Hope this helps.

Vicki
"Zoie" wrote in message
...
Hi my name is Becky and I have been making jewelry for several years
now. I really enjoy the creating process. I recently opened up a shop
on Etsy (zoiedesigns), and google base, and am attempting to sell
some of my creations. I have a hard time at pricing items because I
look at other sites and it seems prices are a lot higher that mine. I
just raised my prices to include S?H . I want to sell some things but
not gouge people. My friends all tell me my jewelry is priced too low.
But I don't think it is. Is there a rule of thumb to go by when
pricing jewelry? Well just wanted to say hi to everyone and looking
forward to getitng tips and info.Becky (zoie)


..

On May 27, 10:21 pm, Zoie wrote:
Hi my name is Becky and I have been making jewelry for several years
now. I really enjoy the creating process. I recently opened up a shop
on Etsy (zoiedesigns), and google base, and am attempting to sell
some of my creations. I have a hard time at pricing items because I
look at other sites and it seems prices are a lot higher that mine. I
just raised my prices to include S?H . I want to sell some things but
not gouge people. My friends all tell me my jewelry is priced too low.
But I don't think it is. Is there a rule of thumb to go by when
pricing jewelry? Well just wanted to say hi to everyone and looking
forward to getitng tips and info.Becky (zoie)

Retail is usually about 300% of the cost. You should look at things
like setting a stone usually costs about $15 per stone (that is in a
ring, pendant, etc.). Gem ID about 50 to 100 USD per hour or per
appraisal. Depending on the type jewelry. Metal, gems, beads,
string, wrie wrap, etc. make a difference with gold at ~900 / ounce
and silver ~18 per ounce. Are you smithing your settings? Are you
making everything yourself? and then there is the payment for artistic
ability to design the item.

While you say you do not want to overcharge customers, you also don't
want to price your art so low that potential customers think that
something must be wrong with it or it would cost more.

John

On May 27, 8:21=A0pm, Zoie wrote:
Hi my name is Becky and I have been making jewelry for several years
now. I really enjoy the creating process. I recently opened up a shop
on Etsy (zoiedesigns), and google base, and am attempting to sell
some of my creations. I have a hard time at pricing items because I
look at other sites and it seems prices are a lot higher that mine. I
just raised my prices to include S?H =A0. I want to sell some things but
not gouge people. My friends all tell me my jewelry is priced too low.
But I don't think it is. Is there a rule of thumb to go by when
pricing jewelry? Well just wanted to say hi to everyone and looking
forward to getitng tips and info.Becky (zoie)


Hi Becky,

I just checked out your site. You have a lot of nice pieces
there...well done.

My retail experience is pretty vast and I've had my own business' for
a number of years and I have to tell you that 'ALL' formulas for
selling your pieces should be used as a guideline 'only'. These day's
precious metals fluctuate so intensely that many forget to include the
inflated price of silver and gold that may have already been in their
inventory from prior years....(ie: beads, wire, etc..).

If you buy in Bulk, the 3 times cost equation may not work in your
favor. For example, If you happen to buy 'a lot' of merchandise from
a wholesaler and get a 'really' good deal, does that mean you 'need'
to pass it along to your customer ? Absolutely not ! Just because
you were able to 'Make a great wholesale deal' does not mean you
should'nt still be charging in accordance to what those beads, stones
and sterling wire would 'Normally' cost from any other wholesaler.
Instead, a better solution might be a 10 or 15 % off sale at your
store instead. EVERYBODY loves a sale...!

It's very important to purchase what you need to make the pieces you
'want' to sell, but if you buy your components in bulk, or 'all of
your' materials from the same supplier you may just end up with a 3x
to 6x pricing structure that meets or 'beats' competitors pricing
(even with your 10 to 15 % sale discount). The more money you make on
your materials over the long term will make the hard work of finding
'the best wholesale price' well worth it indeed......

Add a labour charge on top of your 'decided cost' and you have
yourself a similarly priced piece Vs. your competitors but with a
'huge' advantage in materials profit.

Good Luck,

/FC

On May 27, 9:21=A0pm, Zoie wrote:
Hi my name is Becky and I have been making jewelry for several years
now. I really enjoy the creating process. I recently opened up a shop
on Etsy (zoiedesigns), and google base, and am attempting to sell
some of my creations. I have a hard time at pricing items because I
look at other sites and it seems prices are a lot higher that mine. I
just raised my prices to include S?H =A0. I want to sell some things but
not gouge people. My friends all tell me my jewelry is priced too low.
But I don't think it is. Is there a rule of thumb to go by when
pricing jewelry? Well just wanted to say hi to everyone and looking
forward to getitng tips and info.Becky (zoie)

Hi Becky,
I am new to this group and new to etsy as well. I am a jewelry
designer myself and encountered quite a few issues when trying to
price my jewelry. A good friend of mine who is a very successful
business owner told me to treasure my work and the materials used.
Having very low prices like some of the online stores doesn't
necessarily mean more profit. You sell more, but how much did you
really make? I don't believe in ripping off people; I want my
customers to have good quality jewelry at a reasonable price. I try to
find the best online deals for my materials. I have a handful of sites
that I buy raw material from and after a while they started sending me
coupons that are very valuable to me. Don't forget to add your time,
too. Establish how much people in your area get paid for this kind of
work and time yourself on your projects. Add "normal" material cost,
not the wholesale or deal you got, to that and your prices should be
fine. There is really no exact formula for pricing things. Research
the market that you want to sell to and make good pieces that are
worth the price. Your customers will come back!

Good luck with your business!