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Tips, Techniques, and Questions -- Technical questions or tips

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  #1  
Old 2011-05-25, 6:52am
cakelady cakelady is offline
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Default 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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  #2  
Old 2011-05-25, 12:54pm
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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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  #3  
Old 2011-05-25, 1:13pm
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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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  #4  
Old 2011-05-25, 1:32pm
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Lorraine Chandler Lorraine Chandler is offline
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Quote:
Originally Posted by cakelady View Post
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.

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.
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  #5  
Old 2011-05-25, 2:03pm
cakelady cakelady is offline
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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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  #6  
Old 2011-05-25, 2:24pm
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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.
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  #7  
Old 2011-05-27, 7:34pm
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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
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  #8  
Old 2011-05-27, 8:24pm
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I'm another "doomed starving artist"... and I love Jewelry Designer Manager too. For use with beads, as well as jewelry and supplies.

Jack
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  #9  
Old 2011-05-28, 5:15am
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once I am past the learning curve and have siomething down pat in production... a buck a minute
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  #10  
Old 2011-05-28, 9:38am
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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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  #11  
Old 2011-05-28, 10:09am
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Quote:
Originally Posted by cakelady View Post
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.
Yes, I do use a formula. It's a pretty standard one and I've made my excel file available to others ($4.99). I recently updated the file so I can print each page that shows the breakdown of the costs along with a picture of the item. I love using these in my inventory binder.
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  #12  
Old 2011-05-29, 5:03am
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Quote:
Originally Posted by patienthand View Post
once I am past the learning curve and have siomething down pat in production... a buck a minute
I've been told this too. Of course if you're playing with glass with gold or silver laden glass, adjust accordingly

Duane
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  #13  
Old 2011-05-29, 5:04am
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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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  #14  
Old 2011-05-29, 5:06am
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Quote:
Originally Posted by Lorraine Chandler View Post
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.
HOLY CHIT!! I wasn';t expecting to see THAT price!

Duane
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  #15  
Old 2011-05-29, 5:13am
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Quote:
Originally Posted by cakelady View Post
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.
I just want to add this. Just because it's a friend be careful about pricing less. From personal experience, then they always expect bargain basement prices and sometimes a friend will take advantage of your good heart. Just sayin'.
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  #16  
Old 2011-05-29, 6:33am
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Quote:
Originally Posted by emoon View Post
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
People have always told me this: never, NEVER undersell yourself. I was told this way before I started lampworking, while I was making stained glass. So I'm guessing this statement applies even more with lampworking

Duane
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  #17  
Old 2011-05-30, 5:51am
cakelady cakelady is offline
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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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  #18  
Old 2011-05-30, 7:24am
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Quote:
Originally Posted by alb6094 View Post
I just want to add this. Just because it's a friend be careful about pricing less. From personal experience, then they always expect bargain basement prices and sometimes a friend will take advantage of your good heart. Just sayin'.
I am the WORST at selling to friends. Totally give the stuff away. Ugh!
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  #19  
Old 2011-05-30, 8:12am
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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.
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Old 2011-05-30, 8:14am
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Oh, and as for pricing, I price by time as well, starting at a dollar per minute.
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  #21  
Old 2011-05-30, 8:35am
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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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  #22  
Old 2011-05-30, 8:52am
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Quote:
Originally Posted by cakelady View Post
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.
I think more people (like your fellow bead makers) will be mad if you price to low
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