Pricing handmade jewelry seems to one topic that jewelry
links london artists
never agree on. There are lots of different viewpoints and
philosophies. This article will discuss some of the things to think
about as you consider how to price your jewelry, and some of the common
pricing models that jewelry designers use.
Keep in mind that you
do much more than make jewelry as a business owner. In order to cover
costs and overhead it is essential to charge more than your hourly rate
+ material costs, or keep your hourly rate on the high side (i.e. $18/
hour is much more realistic than $10/ hour) if you want your business
to be profitable.
One mistake that new jewelry designers often make is
links london jewellery to price their work too low.
Here are a few pricing tips:
-Don't
compete with imports on pricing! Your quality is better, and you can
never compete with those that make $2 a day. Instead, position yourself
as the high quality artisan that you are, and command reasonable prices.
-As a newcomer, you can start lower if you would like, and move your pricing up as you become more well-known.
-Lower
pricing also can work against you because
Juicy Couture it cheapens the perceived
value of your work. People tend to think that you get what you pay for,
so if you charge too low, people tend to think you make garbage.
I have another reason for not charging too low. This is kind of my personal soapbox:
If
you charge too low, you are not only cheapening the perceived value of
your own work, you are also cheapening the work of others because the
public learns to think that some artisans who charge what they are
worth, are charging too much.
Those artisans that charge what
they are worth then have to work
Juicy Jewelry so much harder to convince customers
that their work is worth the cost.
That said, as a jewelry designer, you need to consider 2 types of pricing: wholesale and retail.