by Stormy. I keep hearing the words, “Loss Leader”. Can anyone elaborate? Is it where you have lower priced pieces of jewelry that you don’t have much money invested in for materials on display to get others to walk into your booth and then they can see the higher priced, more heavily invested materials pieces? I’m also wondering what types of pieces would these … [Read more...] about How to Use a Loss Leader for Jewelry Sales?
Pricing tips for turning an honest profit from your handcrafted jewelry creations.
by Pinakee. I've been following you for a few years now. For pricing my products I follow the formula that you've given. Does this apply to any minimum cost? Because recently I made a chainmaille necklace with gold filled jump rings and pearls. The cost of material was close £150.... Multiplying that with 4 and adding even the minimum wage per hour gets … [Read more...] about Pricing of Jewelry Made with Expensive Components?
by Rena Klingenberg. After looking at your costs and profits, you may realize it’s time to raise your jewelry prices. But are you concerned that increasing your prices will make you lose customers? Don’t worry. In my experience, most people understand that price increases are inevitable. They know that the costs of your materials and expenses are increasing … [Read more...] about How to Raise Your Jewelry Prices Gracefully
by Rena Klingenberg. What if your jewelry is very time consuming to make – so it's difficult to price it high enough to compensate you for all the hours you put into it? For example, artists who create with seed beads often face this issue. It can take a long time to make a jewelry item with bead weaving or other techniques that involve seed beads. And although … [Read more...] about Profiting from Jewelry That’s Time Consuming to Make
by Rena Klingenberg. When we begin selling our handmade jewelry, most of us start out with a selection of low-priced items. (See my jewelry pricing formula to make sure you're pricing your work profitably.) That makes sense as a starting place, while you develop your skills and experiment with techniques, materials, and product lines. But as your skills progress … [Read more...] about Transitioning to Higher Jewelry Prices
by Linda Harrison. (United States) Signing my items has sometimes been a challenge. I don't care for those string tags because they hang from merchandise and sometimes look tacky. I used to make just a folding cardboard sign from cardstock, but they don't last long. I also used to make signs and laminate, but if I needed to change the price I had to throw … [Read more...] about New, Improved Signing for Jewelry Prices
by Pamela Dudrow. Recently I had an experience that I’d like to share. I create jewelry and sell at a price I think is a good retail price; taking into consideration how much time I’ve put into each piece, and addressing the current popularity of the technique I use. Okay, it’s pricey! I recently attended a show where the audience was looking for a … [Read more...] about Selling Pricey Jewelry vs. Bargain Jewelry
by Horatia Henderson. I would like to sell jewellery I have made with seed beads, but am wondering how best to cost an item? Do I go by weight of seed beads used? Or is it better to count the seed beads used? Obviously counting will take a lot of time but my weighing scales don't have the accuracy of less than 10-20 beads. Thanks. Horatia Henderson … [Read more...] about How to Cost Jewelry Made with Seed Beads?
by Angelique Joseph. (Connecticut) 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. … [Read more...] about How Do I Price a Custom Piece Request from a Jewelry Store?
by Jane Petersen. (Madison, WI) I'm in my third year of selling jewelry, and all of a sudden I am questioning how I price jewelry to sell. Usually, I base my price on my costs of supplies and follow the pricing formula I have learned here. Then I wondered if I should continue to base my price on the wholesale costs of beads and supplies. Or should I base my … [Read more...] about Am I Pricing Jewelry Right or Wrong?
by Virginia Vivier. (Tucson, Arizona USA) “I recently received an unusual "custom" request to enlarge one of my pendants to 4 inches in diameter! Whoa Nellie! At first, my instinct was to say "no" since the customer could return it if she didn't like it. Then, I would be out $$$ for expensive materials, plus my time. But, I decided to tell her I WOULD do it. Next, … [Read more...] about Pricing Challenge for a Custom Pendant
by Rosanna Ferrazzi. (United Kingdom) This might sound a bit nuts, but I have never put prices on my jewellery. I sell a lot of eclectically chosen pieces. Some I have made and some not, some vintage, secondhand, etc. A mixed bag and I have found that people always manage to find something in their price range that they are happy with. I found that the hanging tags … [Read more...] about To Price or Not to Price…?