How Do I Price a Custom Piece Request from a Jewelry Store?
by Angelique Joseph.
I have been making jewelry on and off for a few years now. I got back into it recently to supplement my income and grow it into a business. A friend of mine saw one of my pieces and became interested in selling some of it in her store.
Recently, a customer came into the store and saw two pieces of jewelry (not mine) that she liked. She wanted to merge the necklace part of one necklace with the pendant of another. Since the necklace is a tied silk string loop with no clasped end, it’s not a simple taking the pendant off of one necklace and putting it on the other. I would have to completely recreate the piece.
My question is, how should I charge for it?
The necklace (factory made) in her store is $78.00, my friend wants to charge that price, to the customer, for my custom piece with no mark-up. My issue is that it doesn’t account for my time and effort in recreating the piece and giving this customer exactly what she wants.
Also, since it’s a piece made by hand by me, I’d like to put my company tag on it (she labels all the jewelry with her store tags).
What are the best practices in a situation such as this?
I would love the sale and exposure, but I don’t want to get burned. Any advice would be greatly appreciated.