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How To Price Your Handmade Jewelry

by Sara Lombard August 21, 2016

How To Price Your Handmade Jewelry

Pricing your handmade jewelry is a VERY important part of running your business. You want to make sure you are covering your supplies, paying overhead/utilities, and paying yourself.

Some people want to craft and sell jewelry as a Hobby. They want to make something, sell it, and just have enough to be able to buy some more supplies. They aren't looking to create an income for themselves.

Other people want to create enough to support themselves or at least partial support themselves. 

Decide which one you are and then proceed with this quick breakdown of how to Price Jewelry.

 

How you would determine the cost of an item:
(cost of materials + packaging) x 4
+ your pro-rated hourly labor rate
+ 10% of that total for overhead costs.

 

So for a simple example:
A necklace that costs you $5 worth of supplies, you're packaging for it (shipping box, padding, business card, packing tape) costs $3.
The necklace only took you 30 minutes to make - your hourly rate is $20.

$8 x 4 = $32.00
+ $10 your time = $42.00
+ 10% overhead = $46.20 Retail Cost

 

Multiplying by 4 allows for wholesale pricing as well.

The wholesale price of that $46.20 would be 50% off = $23.10

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Sara Lombard
Sara Lombard

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