How To Price Handmade Jewelry
A while back, I wrote an article on how to price handmade jewelry. In it I explained that there are five different perspectives that one should take when it comes to selling jewelry online. To some people, those five different perspectives make up five separate markets. Each market has its own rules and its own terminology. To get the best profit out of jewelry selling, you should understand these five different views and how they affect your ability to successfully sell jewelry online.
First we have the pricing on handmade jewelry. One must take into consideration the gemstones, clasps, stones, weight, cut, and any other variables that might go into the pricing of the product. A craftsperson can use formulas to calculate these into their costing of the product. This can be done through many different methods, including gemstone calculators. There are also formulas available online for those who like to do their own math.
The second aspect we will cover is customer service. As a jewelry artist, it is important that I give the best customer service possible. A customer should feel as if the person who is helping them is interested in what they are selling. Pricing is not the only thing that impact a buyer’s decision, but if a buyer feels as if they are getting good value for their money, then they will most likely keep coming back.
Next we will talk about overhead costs. If you are just starting out, or if you are a hobbyist, you may not have too high overhead costs already. However, if you have been making jewelry for a while, you will most likely have some overhead costs. Those include salespeople, shipping supplies, taxes, and of course electricity.
There are ways of cutting these costs down though. One of these ways is to use wholesalers. Buying wholesale is always a good way of cutting your overhead costs. However, not all wholesalers are created equal. Some will only give you the price of a single bead; others may charge you depending on the number of individual beads you purchase. Wholesale jewelry prices are usually based on the bulk order as well as on the number of pieces that are being purchased.
The third thing we will cover is the material cost. When it comes to pricing handmade jewelry, the material cost is something you cannot ignore. If you want to sell your item at a profit, you need to make sure that the material cost is at least a little bit lower than the wholesale or retail price.
The last part of pricing is with the formulas. The formulas are what help to determine how much time it takes to make one unit. They can be very useful in determining how much time it takes for someone to make one jewelry piece or how many pieces it would take to fill your order. These formulas can take a little bit of time to figure out but they will be very useful in determining how to price handmade jewelry.
To conclude this article, it is very easy for someone to learn how to price handmade jewelry. Pricing jewelry is something that jewelry artists have to deal with all the time. The Internet has helped jewelry artists become more competitive so it has made it easier for them to stay on top of things. Jewelry wholesalers now sell their items online so there are many ways for an artist to get their item out there and get started. It just takes a little bit of research and a little bit of time.