Comments on: How to arrive at a fair price for your jewellery http://www.howtojewellery.co.uk/2007/02/21/how-to-arrive-at-a-fair-price-for-your-jewellery/ Fri, 05 Dec 2008 08:37:14 +0000 http://wordpress.org/?v=2.1.2 By: kalicat http://www.howtojewellery.co.uk/2007/02/21/how-to-arrive-at-a-fair-price-for-your-jewellery/#comment-38 kalicat Wed, 21 Mar 2007 17:58:02 +0000 http://www.howtojewellery.co.uk/2007/02/21/how-to-arrive-at-a-fair-price-for-your-jewellery/#comment-38 hello great site. Will this calculation give you your wholesale price then? Do you take into account any overheads like telephone, electricity, tools ...? How do you price if a shop asks for a discount? hello

great site.
Will this calculation give you your wholesale price then? Do you take into account any overheads like telephone, electricity, tools …?
How do you price if a shop asks for a discount?

]]> By: Kate http://www.howtojewellery.co.uk/2007/02/21/how-to-arrive-at-a-fair-price-for-your-jewellery/#comment-40 Kate Thu, 22 Mar 2007 16:54:56 +0000 http://www.howtojewellery.co.uk/2007/02/21/how-to-arrive-at-a-fair-price-for-your-jewellery/#comment-40 Hi there! I'm afraid this is just a very simple calculation to price those individual pieces you sell to boutiques. Wholesale and discounts are a different kettle of fish. When it comes to selling jewellery on a bigger scale then I would suggest taking into account all that you have mentioned. I didn't include the price of tools because (in my opinion) they are a one off cost and will last for a long time unless you have to buy a unique tool/material especially for that item of jewellery. Electricity and telephone time are more likely to be an issue when working as a full time designer creating several pieces throughout the day. If this is the situation then add daily overheads into your jewellery price. If your jewellery lends itself to being made repeatedly and easily for wholesale then I would suggest looking to source your materials at wholesale prices and adjusting the formula accordingly. If this is not possible think about just charging for your time alone and not doubling the cost of materials because you are guaranteed several sales this would still give you an excellent profit margin. <a href="http://www.enioken.com/jewelry/tips_tools.html" rel="nofollow"><strong>Visit Eni Oken's website to download her pricing calculator</strong></a>; it takes into account all of these issues in a more scientific way for both retail and wholesale prices! Many Thanks for your question, Kate Hi there!
I’m afraid this is just a very simple calculation to price those individual pieces you sell to boutiques. Wholesale and discounts are a different kettle of fish.
When it comes to selling jewellery on a bigger scale then I would suggest taking into account all that you have mentioned. I didn’t include the price of tools because (in my opinion) they are a one off cost and will last for a long time unless you have to buy a unique tool/material especially for that item of jewellery. Electricity and telephone time are more likely to be an issue when working as a full time designer creating several pieces throughout the day. If this is the situation then add daily overheads into your jewellery price. If your jewellery lends itself to being made repeatedly and easily for wholesale then I would suggest looking to source your materials at wholesale prices and adjusting the formula accordingly. If this is not possible think about just charging for your time alone and not doubling the cost of materials because you are guaranteed several sales this would still give you an excellent profit margin. Visit Eni Oken’s website to download her pricing calculator; it takes into account all of these issues in a more scientific way for both retail and wholesale prices!
Many Thanks for your question,
Kate

]]> By: Carolina http://www.howtojewellery.co.uk/2007/02/21/how-to-arrive-at-a-fair-price-for-your-jewellery/#comment-72 Carolina Fri, 06 Apr 2007 02:40:19 +0000 http://www.howtojewellery.co.uk/2007/02/21/how-to-arrive-at-a-fair-price-for-your-jewellery/#comment-72 Hi there, Soo glad to of found your blog! At the moment I use one of those more scientific programs, but it doesn't really take the time put into making a one off piece into account. Going to go and read your other entries! Hi there,

Soo glad to of found your blog! At the moment I use one of those more scientific programs, but it doesn’t really take the time put into making a one off piece into account. Going to go and read your other entries!

]]> By: David http://www.howtojewellery.co.uk/2007/02/21/how-to-arrive-at-a-fair-price-for-your-jewellery/#comment-146 David Sat, 22 Sep 2007 08:16:34 +0000 http://www.howtojewellery.co.uk/2007/02/21/how-to-arrive-at-a-fair-price-for-your-jewellery/#comment-146 A good way to work out your labour rate is to find out what others would charge to do the same thing. If you became sick or just wanted a holiday and the order came through, you could then afford to subcontract the labour componant without losing all your profits. Now ask yourself would any jeweller you know be prepared to work for you for 6 pounds per hour? Where I live in Australia this is below the minimum wage. If your looking for such a salary I'll pay for you to come and work for me! The profit on the materials as correctly pointed out earlier goes towards expanding your stock of materials/costs and importantly TAX. Don't leave yourself exposed by not putting aside the govenments share, they will track you down when your least able to pay! So if your selling at 55 pounds then take out your costs (20) (is VAT payable?)and your left with 35. Income tax will be based on this figure. If you had to pay someone else to do the work how much would you have left? One way to minimise the labour costs is to increase the number of units produced. If you have a great design which you believe will appeal to lots of people make a master model and mould. The majority of the labour charges are in the original, each replica will cost mere fraction to finish. A good way to work out your labour rate is to find out what others would charge to do the same thing. If you became sick or just wanted a holiday and the order came through, you could then afford to subcontract the labour componant without losing all your profits. Now ask yourself would any jeweller you know be prepared to work for you for 6 pounds per hour? Where I live in Australia this is below the minimum wage. If your looking for such a salary I’ll pay for you to come and work for me!
The profit on the materials as correctly pointed out earlier goes towards expanding your stock of materials/costs and importantly TAX. Don’t leave yourself exposed by not putting aside the govenments share, they will track you down when your least able to pay!
So if your selling at 55 pounds then take out your costs (20) (is VAT payable?)and your left with 35.
Income tax will be based on this figure. If you had to pay someone else to do the work how much would you have left?
One way to minimise the labour costs is to increase the number of units produced. If you have a great design which you believe will appeal to lots of people make a master model and mould. The majority of the labour charges are in the original, each replica will cost mere fraction to finish.

]]> By: Rose Arroyo http://www.howtojewellery.co.uk/2007/02/21/how-to-arrive-at-a-fair-price-for-your-jewellery/#comment-677 Rose Arroyo Thu, 10 Apr 2008 09:24:48 +0000 http://www.howtojewellery.co.uk/2007/02/21/how-to-arrive-at-a-fair-price-for-your-jewellery/#comment-677 hello kate, i enjoy your jewellery making collectiion. i also design jewellery mabe pearls in silver. i would appreciate if you can share some suggestiions. hello kate,

i enjoy your jewellery making collectiion. i also design jewellery
mabe pearls in silver. i would appreciate if you can share some
suggestiions.

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