Daily Wire Tip Sept. 27: Pricing Bracelets

Daily Wire Jewelry Making Tip for
September 27, 2010

Question:

How do you price your bracelets? For example, some of mine are gold-filled with spacers, crystals and other findings. The same goes for sterling silver. I never use base materials because I am allergic to them, and other people may be as well.

-Marianne in Hamilton, Ontario, Canada

Answer:

How considerate of you – yes, many people experience metal allergies. Although a few folks become angry with me for not giving specific answers with regards to pricing, it is impossible for me to know all of the facts in any one area of the world to be able to do so. Therefore, I am directing you to the article I wrote about how the Wire-Sculpture Faculty and I do price out work. The formulations included in “How to Price Your Wire Jewelry” will give you the ideas you need to be successful and fair to both yourself and your customers.

Answer contributed by Dale “Cougar” Armstrong

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6 Comments

1. 

   Kathy Statton

   September 27, 2010 at 8:24 am

   With my husband’s suggestion, I now use an elec. balance to get the ounce weight of the stone before wrapping. Then I weight the finished piece and subtract the stone weight to get the weight of the silver or 14kt gold filled I used. By knowing the price of the wire used really helpes to price my piece.

   I have a spreadsheet with my beads listed (even diff sizes) with prices, so that I can get a “real” price for the beads. If using a balance, all beads to be used need to be weighed before construction.
   • 

     dalecgr

     September 27, 2010 at 9:30 am

     Wow Kathy – rocket science – love it!
2. 

   Mary

   September 27, 2010 at 11:14 am

   I think to get a complete answer to your questions about pricing, as well as many others, you should give serious thought to getting The Definitive Guide and watching the 3 DVDs included. There is a wealth of information on these DVDs. Everything from inventory, pricing, and advertising, to setting up for a show, a home show and so much more!
   It is an investment gleaned from over 20 years of experience from Dale, as well as the faculty, and worth much more than the asking price.
3. 

   John Ricci

   September 27, 2010 at 11:38 am

   Price out your wire per inch. Take the total cost of the full length of the wire and divide the total cost of the wire ordered by the total inches received. Then measure how many inches you use for your bracelet and multiply that by your cost per inch. i.e.: ordered 36″ of wire X $36.00 (cost) = 1.00 per inch cost X 14″ used for bracelet = $14.00 cost for wire used in making bracelet + cost of stones. This will give you the cost of the materials + jump rings used + clasp. You then take your total cost and add your overhead, labor and profit you wish to make. Hope this helps.
   • 

     dalecgr

     September 27, 2010 at 11:25 pm

     Thanks for sharing your personal formula John!
4. 

   Brandi

   October 1, 2010 at 4:57 pm

   Wow, so many different pricing equations! I found a program online that has tremendously helped me price my jewelry. It uses a system similar to Kathy’s method which is much more accurate than my former pricing methodology. I was just doubling my material costs and adding in time at $10/hr. I hope to get more sales with these more accurate prices. Thanks for the tips, guys.