How do you best price your handmade jewelry for a fast sell and profit?

fairypikt asked:

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Normally, price is associated with quality, especially when it comes to handmade jewelry. You don’t want to price your jewelry too low because people will think maybe something’s wrong with it. Fast sell and good profit are almost like oxymorons when it comes to jewelry. A lot of time and money goes into making it, so don’t underprice your jewelry. Of course, this means it might not sell as fast.

You can calculate both wholesale and retail price. Labor is the amount you want to pay yourself per hour. Depending on your experience it can be anywhere from $15 and up per hour. A common pricing formula is the following.

Wholesale price = (Materials X 2) + (labor X # of hours)
Retail price = wholesale price X 1.50(50% markup)

The markup over the wholesale price can be as high or as low as you want but 50% is pretty common. The display and transportation costs cannot be part of the price since those are business expenses. You have to markup your jewelry to the extent that the price will cover all your expenses plus leave you with a decent profit.

Comment by byme.jewels — June 14, 2009 @ 5:17 am
look on ebay for pricing, or madnonnie.com

Comment by ailaine p — June 15, 2009 @ 7:23 pm