Pricing handmade jewelry seems to one topic that jewelry artists never agree on. There are lots of different viewpoints and philosophies. This article will discuss some of the things to think about as you consider how to price your jewelry, and some of the common pricing models that jewelry designers use.

Keep in mind that you do much more than make jewelry as a business owner. In order to cover costs and overhead it is essential to charge more than your hourly rate + material costs, or keep your hourly rate on the high side (i.e. $18/ hour is much more realistic than $10/ hour) if you want your business to be profitable.

One mistake that new jewelry designers often make is to price their work too low.

Here are a few pricing tips:

-Don’t compete with imports on pricing! Your quality is better, and you can never compete with those that make $2 a day. Instead, position yourself as the high quality artisan that you are, and command reasonable prices.

-As a newcomer, you can start lower if you would like, and move your pricing up as you become more well-known.

-Lower pricing also can work against you because it cheapens the perceived value of your work. People tend to think that you get what you pay for, so if you charge too low, people tend to think you make garbage.

I have another reason for not charging too low. This is kind of my personal soapbox:

If you charge too low, you are not only cheapening the perceived value of your own work, you are also cheapening the work of others because the public learns to think that some artisans who charge what they are worth, are charging too much.

Those artisans that charge what they are worth then have to work so much harder to convince customers that their work is worth the cost.

That said, as a jewelry designer, you need to consider 2 types of pricing: wholesale and retail.

Wholesale and Retail Pricing Models

Common wholesale pricing models used by jewelry designers:

-3 x the material cost

-3.5 x the material cost

-$18/hour-labor plus 1x materials plus 50% (or whatever you want your hourly wage to be)

-Eyeballing i.e. guessing at what it should be worth (not recommended, but common)

-$35/hour-labor plus 1x materials

-$26/hour-labor plus 1x materials plus 50%

-$20/hr.labor + mat. + 5%overhead + 20%profit

Common retail pricing models used by jewelry designers:

-1.4 x wholesale

-1.5 x wholesale

-1.6 x wholesale

-1.7 x wholesale

-1.8 x wholesale

-1.9 x wholesale

-2.0 x wholesale

-The ever common but not recommended “eyeballing” method

Feel free to use any of the wholesale or retail pricing formulas to price your own work.

A lot of people choose to buy handmade products because of many reasons. Perhaps, majority of them will say that buying a handmade bookcase is like helping save the environment. After all, a handmade shelf is usually crafted from recycled materials. Some may say that preferring a handmade shelf over a store-bought one will help support the livelihood of the artisan who made it. Others may also say that handmade items are made with love, thoughtfulness, creativity, and care. So, if a person gives someone a handmade bookcase, it will be like giving him a treasure.

Then, there are also people who will tell you that buying a handmade bookcase is a simple way to contribute in the reduction of fossil fuel erosion, as well as to the establishment of a new economic model. When you buy a handmade bookcase, you support the small businesses instead of the large companies. You also get to help support the local community and the hardworking artisans whenever you buy a handmade shelf. Moreover, you can be sure that there were no humans abused and exploited during the production of your handmade shelf.

In addition, most sellers of handmade products offer customizability. If you fell in love with the style of a particular handmade bookcase but you did not like its size, you can request for a similar handmade bookcase at the scale you desire. You can also choose the finishing and the color. You can choose the material too. Most handmade bookshelves are made from oak, mahogany, cherry, pine, knotty alder, walnut, and hickory wood. You can even request for your handmade shelf to be carbon neutral. If you have a bookshelf plan, you may also request for it to be followed. Additionally, if you have a radiator in your home, you can cleverly conceal it by having a bespoke handmade shelf added to the radiator cabinet.

A handmade bookcase would be perfect for your home or office. It can fit well with the other decorations in your room. Since it is customizable, you can tailor its measurement to the size of the room and have it painted to match the wall color. Also, if you have an antique bookshelf, you can ask the seller or the artisan himself to produce a handmade shelf replica. This will add aesthetic value to your home. It will also make your room more comfortable. A handmade bookcase is really better than a regular, store-bought bookcase. It is more durable and long-lasting. Unlike the mass-produced ones, it also offers a personal touch.