How do you price.
I have a friend that wants to buy several of my beads. So my question is how do you know how much, do you have a formula?? I know for a friend its probably less , but how much less?? What if I turn them in to jewelry, how much then?? So confused. I usually make beads for myself. Its really hard to sell or give up something I have made. In my case its the processes of making beads that I enjoy. I have given away 118 beads to BOC. Thats because they are as special to me as my beads and the process. Anyway whats your thoughts?? Thanks.
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I price by the amount of time it takes to make the bead. I don't sell finished jewelry, unless it's a special order and then I price that by the materials & time invested. (Unless it comes out to be way cheap or way high, then I bump or lower to what I deem to be reasonable.)
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Think about if you saw that bead at a bead show... how much would you pay for it if you had the money and REALLY wanted it?
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I use this program. http://jewelrydesignermanager.com/products/pro.aspx You set the perimeters, IE how much you want to charge per hour for your time and the program does the rest. It will give you a retail price, a wholesale price and a commission price set to your perimeters. But it is an inventory program so everything you used in the item for sale must be in the program. Lots of data entry but it sure makes life easier especially for taxes and inventory. You just print out the sheet! I love this program. |
Thanks pricing things has always been really hard for me. Alot of my friends say I need to charge more. Just wish I knew how much more.
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Take a look at the pricing on Etsy as a guide for a similar bead style and size. Start at a point that you feel comfortable with and go from there.
If you are selling a lot of product at eight dollars each and find that T&M are on the edge then up the price. If your sales then slow you have then hit the limit most folks are willing to pay, etc. Then back down the price to something that will once again gain interest. |
I don't ever expect that I will recover the cost of the investment in the bead, figuring time and glass and equipment. What I usually hope for is to earn enough to keep myself in glass and propane, maybe some left over for groceries. That being said, a close eye on the market is a great indicator.
Signed, Doomed To Be a Starving Artist |
I'm another "doomed starving artist"... and I love Jewelry Designer Manager too. For use with beads, as well as jewelry and supplies.
Jack |
once I am past the learning curve and have siomething down pat in production... a buck a minute
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I do research by looking to see what others price similar beads at and go from there. I do this once every six months or so. If your beads are big elaborate focals with a truly unique design and you can't compare them with others out there, then you charge what you think they are worth. :)
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Duane |
Kim, thank-you so very much for starting this thread! I'[ve been in a rut too as far as pricing is concerned!
Duane |
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Duane |
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Duane |
Thanks for the advice, I really need it. I think pricing is what stops me from selling anything. Always afraid I will be to high and make everyone mad or something.
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Take it from me... do not price lower for friends, and unless you really like doing custom work, don't do it for friends. My friends can either buy at my normal prices, or I give them beads as gifts. I did the "friend price" thing for a while, and it was a disaster because they would go through my beads and ask what their price would be on everything, including new high-end sets I'd just posted on my website. They really thought they were doing me a favor by buying and that's why I was giving them a discount.
So, it's either full price or a gift now. Period. I will do custom work for friends, but only for free, because again, I got sucked into doing it and they always view it as them doing me a favor, not me doing them a favor. |
Oh, and as for pricing, I price by time as well, starting at a dollar per minute.
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I was once told by a very successful photographer who sells many many high end prints to NEVER lower your prices. This devalues your work and makes past customers feel cheated because they paid so much more. If you feel your prices are too high for the current market downturn, have frequent sales and offer discounts to your loyal customers, Facebook fans and blog readers. Your work is still "worth" the same amount no matter what people can currently afford.
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