Pricing handmade jewelry is probably the one aspect of selling jewelry that confuses people the most. So today, I’m going to give you some suggestions for how to go about this task.
Pricing Handmade Jewelry
You must take into consideration the cost of the materials used and the cost of your labour. Other factors such as target market and the location where you are selling your jewelry also come into play.
I have written about these in more detail in the first post that I wrote about selling handmade jewelry. You can read the article here.
Don’t forget that consumers link price to the value of the item. You don’t want to use quality materials, spend hours making a piece of jewelry and then practically give it away by pricing it super low!
Helpful Tool For Pricing Handmade Jewelry
Auntie’s Beads has provided a very useful tool that anyone can use to help them price their jewelry. Click here to view their Jewelry Pricing Calculator.
The Jewelry Pricing Calculator from Auntie’s Beads is no longer available for I have found another one. It is the Etsy Pricing Calculator by Craftybase.
The Calculator allows you to enter:
- price markup
- labour cost
- material costs.
It does add in Etsy fees but you can easily see what the total is and subtract that if you don’t want it.
Click here to view the Etsy Pricing Calculator.
Make sure to time yourself when making jewelry so you know how much to charge for labour. If you’re anything like me, you get so excited about making a new piece of jewelry that you forget to time yourself to see how long it took you to make. Then, after you’ve lost yourself in the jewelry-making process, you have to guess how much time went by!
Knowing how long you spent making a piece is very important if you’re going to be fair to yourself and to your customers. No overcharging or undercharging anymore! Time yourself and you’ll be good to go!
Use these tips and tools when pricing handmade jewelry in the future.