How to Price Handmade Jewelry
A while back, wrote an article on how to price handmade jewelry on eBay. So many people were asking how to price handmade jewelry on eBay that I thought I should write another article on the same topic. Hi, Bobbi from the United States of America here I am just glad you decided to look into how to price handmade jewelry either online or offline for that matter. I have been selling jewelry on eBay for quite some time now. So I will follow my usual practice of not telling you how to price jewelry unless you ask me how to do it because then I will laugh at you.
So first off I will tell you that there are two ways to price a handmade piece on eBay, one is to figure out how much you want to charge for the piece and the other way is to calculate the overhead costs that you will have to incur in order to sell the jewelry. When determining how much to charge for your jewelry, you need to determine how much you would like to spend and then add up all of the costs that you will have to incur in order to sell the piece. Make sure that you don’t include any overhead costs such as sales tax and shipping. These costs can add up quickly if you aren’t prepared for them. To do this, simply find out how much your item will cost to ship to you and double that figure for the sales tax and shipping.
Once you have figured out the total amount of money that you will be charging for your handmade jewelry then it’s time to do your research on how to price these items. In order to do this, simply find out how much the average person would pay for the same item. This will help you in two different ways. First of all you will be able to determine what your overhead costs will be, and secondly you will be able to determine what your final price will be. Now, keep in mind that you can charge your handmade items for less than the average person would, but you must also be able to make a profit.
As you look over how to price your handmade pieces you will notice that there are two different ways that jewelry makers determine the markup on their handmade jewelry materials. One way that they do this is by adding a certain percentage to the selling price. This percentage is generally around 5%.
The other way that they calculate their markup is through the sales tax that they apply to all customers. This can get to be a significant amount of money so you need to be cognizant of that. In order to avoid the taxes, you should always include all sales in the taxes that you will be applying to your customers. This way you will know exactly how much you will be charging for your jewelry making supplies. If your overhead costs are too high then you will need to reassess your pricing to make sure that you are not undercharging your customer base.
These are some things to consider when you are looking over how to price handmade items. You want to make sure that you are providing great customer service and making a profit at the same time so you will need to do a bit of homework. The best thing to do is to contact some of the other jewelry artists in your area and ask them what they charge for the supplies that you will need to create beautiful jewelry.
The best way to go about this is to make a few notes on the prices that they gave you and then use these to calculate how much your items should cost you. If you find a store that has the item that you want to sell, you should contact them and ask them for their opinion on how to price handmade jewelry. Most jewelry stores have a jewelry designer that creates the dresses that the customers are wearing in many cases. You will need to find out how much they charged the other stores for the dress and then use their figures to determine how much to charge your customers.
Once you have figured out how to price handmade jewelry you will need to make sure that you are offering your customers a good deal. There are plenty of jewelry artists in Los Angeles that can create beautiful items for you at a fair price, but not all of them will be as friendly as you would like. By using the information that you have learned about how to price handmade jewelry you will be able to come up with a reasonable estimate for what the final price should be.