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#41
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Thanks. This is pretty much what my instincts tell me, too. Somehow,
what you get for what you make has to satisfy your customer AND pay your bills, plus some for a 'buffer' and some for growth. And if that isn't happening, you have to change your product, your methods, your materials, your market ... or all of the above. Simple, right? All you need is dazzling skill and a crystal ball ;-) Deirdre On Fri, 29 Aug 2003 00:48:32 -0400, "CLP" wrote: I remembered that I had just read this conversation recently in the rcj group, and thought it had merit. This answer came from "MarbleMyke" Your pricing method only considers the cost of your materials and not the most important, your time. You might cut costs by buying in bulk, but your biggest return (in the long run) is being able to produce more in less time. The method I use works with materials whose cost is negligable as well as costly. First, I would figure out precisely how long it takes to make the piece and decide how much you want to earn per hour. Since I have been making wire jewelry for more than ten years, I pay myself 18 dollars an hour. To this I add double the cost of the materials. If prone to giving discounts or high overhead, maybe X 2.5. So if I use $2 worth of materials and spend 20 minutes making a bracelet the retail price I set is $10. If someone wants ten or more of this item, my wholesale pice is half that because after making several of the same item, the time it takes to make it is reduced drastically. In other words, if it takes 20 minutes to make the first one, by the time I've made 5, it's only taking 10 minutes, cause I don't have to think about each step anymore. So, using your materials and my formula, I would have to spend 4 or 5 hours making the ring in order to set the price at $140. Hope this is helpful, -MarbleMyke |
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#42
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On Fri, 29 Aug 2003 17:38:04 GMT, "Tante Lina"
wrote: There's a good book for artists called _How to Survive and Prosper As an Artist: Selling Yourself Without Selling Your Soul_ by Caroll Michels that has, among many other helpful ideas, a detailed suggestions for creating publicity about yourself. I love the title. I'll have to look for this... When I'm ready, one way I plan to introduce my "fancy" line locally is to donate a piece to a charity fundraiser that's auctioning other art items. Usually they list contributors, which could get my name posted all over town, and it's one more way to make sure my work is seen as art rather than as a mass produced consumer product. I'm giving each piece a name - you notice that lampworkers tend to name their sets - this is another way to differentiate them as "art". A charity auction involves the town's well-off and trendiest people, so it's targeted marketing - with a potential bonus if the auction process happens to drive up the perceived value. This kind of marketing-by-donation has occurred to me, and I think it has a lot of potential for breaking into much higher-end buying circles. I am willing to give it a try once I have a stunning enough piece to offer. For the moment, I am on the lookout for 'bread and butter' markets and opportunities to get me started. But I don't rule out anything for the long term. Thanks for the suggestions. Deirdre |
#43
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One thing to keep in mind, you double wholesale prices, but not retail
prices. It's very different to double a good bulk or wholesale price, than to double your LBS's top dollar price. Similarly, you may not be able to double prices for lampwork. Tina "CLP" wrote in message news:tWA3b.11760$j26.9008@lakeread02... I remembered that I had just read this conversation recently in the rcj group, and thought it had merit. This answer came from "MarbleMyke" Your pricing method only considers the cost of your materials and not the most important, your time. You might cut costs by buying in bulk, but your biggest return (in the long run) is being able to produce more in less time. The method I use works with materials whose cost is negligable as well as costly. First, I would figure out precisely how long it takes to make the piece and decide how much you want to earn per hour. Since I have been making wire jewelry for more than ten years, I pay myself 18 dollars an hour. To this I add double the cost of the materials. If prone to giving discounts or high overhead, maybe X 2.5. So if I use $2 worth of materials and spend 20 minutes making a bracelet the retail price I set is $10. If someone wants ten or more of this item, my wholesale pice is half that because after making several of the same item, the time it takes to make it is reduced drastically. In other words, if it takes 20 minutes to make the first one, by the time I've made 5, it's only taking 10 minutes, cause I don't have to think about each step anymore. So, using your materials and my formula, I would have to spend 4 or 5 hours making the ring in order to set the price at $140. Hope this is helpful, -MarbleMyke -- ------------------------------------------------------------------------- FIGHT BACK AGAINST SPAM! Download Spam Inspector, the Award Winning Anti-Spam Filter http://mail.giantcompany.com "Deirdre S." wrote in message ... This message is directed to Eclectic Beadery members in particular, but also to anyone else willing to offer suggestions. I have uploaded a few pictures of new work to my picturetrail site at: http://www.picturetrail.come/dsand The last folder on the page is full of stuff I propose to make my first offerings on Eclectic Beadery, but I am at a loss to know how to price it. Some things, like the eyeglass leash, have cheap components, but take a couple of hours to make. Some have expensive components (like ocean jasper) and took approximately an hour to design and make. The peyote cuff bracelets take 2.5 - 3 hours to make and finish... The hammered copper necklace was something I worked on and put aside, worked on and put aside, tried something and wasn't satisfied, took it apart and tried something else. So estimating the time involved on that one is a muddle. How do I find a workable cocktail that combines 'what went into materials', 'how long it took', 'how much skill is involved' plus the ineffable 'design factor', which relates to how dramatic or unusual or fashionable it is, or whatever the heck else goes into its market appeal? I am a beginner in search of experienced marketing advice... H E L P ! please... Deirdre |
#44
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I found this in the local public library catalog and put a hold on
it... Thanks! Deirdre On Fri, 29 Aug 2003 17:38:04 GMT, "Tante Lina" wrote: There's a good book for artists called _How to Survive and Prosper As an Artist: Selling Yourself Without Selling Your Soul_ by Caroll Michels that has, among many other helpful ideas, a detailed suggestions for creating publicity about yourself. |
#45
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Deirdre S. wrote in message ...
I found this in the local public library catalog and put a hold on it... Thanks! You're welcome! I've really found it helpful. * TL * |
#46
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I say "yesterday, I go to the store", and that kind of thing, I can't talk in
past tense or future tense, and some things, I talk weird Sounds like a type of dyslexia, Mary. Carol in SLC New jewelry (8/28): http://members.aol.com/carolinslc/hoyt1.jpg |
#47
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nope. american. My dad says by the time I left Germany when I was 7, I was
speaking "fluent" German, but lost it by the time I got back there at 9. Who knows??? I do have a bad memory, so that's probably part of it. Mary -- Joy multiplies when it is shared among friends, but grief diminishes with every division. That is life. Drizzt Do'Urden (Exile - R.A. Salvatore) ================ MeijhanaDesigns - Unique Earrings and More! http://www.meijhanadesigns.com "Kaytee" wrote in message ... In article t, "Mary Rurup" writes: Basically, I say "yesterday, I go to the store", and that kind of thing, I can't talk in past tense or future tense, and some things, I talk weird.... Hmmm.... was your first language Chinese? That IS proper grammar in Chinese-- there are no tenses, no declinations, no plurals, and no genders to worry about.... Kaytee "Simplexities" on www.eclecticbeadery.com http://www.rubylane.com/shops/simplexities |
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