Pricing worry

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I've got a silver plated Byzantine bracelet on eBay at the moment and had a
question from an American user about how much it would cost in 9ct gold.  I
worked it all out and came up with a price of 80.  Is this too much?  I'll
show you how I got to the cost:

49.70 for the materials
2.92 (+ a little more, $1 I think) for the paypal costs
5.50 for the shipping (with insurance)
+ 11 (ROUGHLY) 2 hours of my time to order, make, package and post the item
---------
69.12
---------

leaving approx 10 to put back into more materials and in case any other
costs come up.

Does this sound unreasonable?

Charlie.



Re: Pricing worry
If anything it sounds a bit low.

--  

Barbara
www.penguintrax.com

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Re: Pricing worry
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item

Sounds way too reasonable to me.  Aislyn of Urban Maille had a customer
making a Byz necklace out of 18k rings that was going to sell for $3000 US.
In theory that would make your 9k bracelet about $500 US.  Over here I think
a quality sterling silver Byz bracelet will run someone about what you are
thinking of charging for 9k gold.  You need to rethink how much your time is
worth.

JMO,
Tanya



Re: Pricing worry
Yes, I agree. I know someone who sells sterling byzantine bracelets for  
$125, and that's CHEAP.

OTOH, if you really really are going to sell it for that price, can I  
buy one too?

-Kalera

Magik wrote:

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Re: Pricing worry

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If I sold a sterling silver one for that price the mark up would be about
55! ($100!)  I'm not sure I could actually justify that, or convince people
to pay it!

Charlie.

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Sure, I'm re-thinking the price though.  If you're serious email me (take
out the obvious in the email addy).

Charlie.



Re: Pricing worry
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people

You really need to get your hands on a book called "Handmade for Profit!" by
Barbara Brabec.  Chapter Five "Pricing Problems and Solutions" is so
screaming out your name.  I just checked this book out of the library
yesterday and it is chock-full of info and a really good read.  Check your
local library or bookseller or Amazon in a pinch:
(Amazon.com product link shortened)
.
Barbara Brabec has a website also with lots of articles:
http://www.barbarabrabec.com/ .

In short, if you have programmed yourself to believe that you can only get X
dollars for your work, you will never get more than X.  You have to believe
in your talent and rethink how much you are worth.  If somebody really wants
something, they will pay whatever you are asking.  Try raising your prices,
you may be pleasantly surprised and see an increase in business!

Tanya



Re: Don't lower your prices too low was--Re: Pricing worry
On Wed, 28 Jan 2004 19:49:33 -0500, roxan wrote:

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And if I were the customer I'd be thinking - why is that priced so low? -
Must be something wrong with it, so I'll go for the dearer one..

Mavis


Re: Don't lower your prices too low was--Re: Pricing worry
Charlie, if you get a fair price for yourself, that would be pretty much
like selling for wholesale.  The eventual customer usually has to pay
retail, which is twice wholesale.  If you choose to sell at the lower price,
make it clear that your customer is getting it at wholesale.  IE, getting it
for half price.  If you were selling it on eBay, you could start at
wholesale, plus a little for actual costs -- and hope to get it bid up to
retail.

Tina


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Re: Don't lower your prices too low was--Re: Pricing worry
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FWIW, the inventory software I use suggests that "wholesale" cost is 2 x cost  
of materials, "direct" is 3 x, and "retail" is 6 x. (Which last boggles me, but  
then someone with a physical storefront has a LOT of expenses that I don't.)  
Charlie is selling "direct" in this instance, so 3 x cost of materials is  
probably a fair price.  

Celine

--  
Handmade jewelry at http://www.rubylane.com/shops/starcat
"Only the powers of evil claim that doing good is boring."  
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Re: Don't lower your prices too low was--Re: Pricing worry
Words and definitions!  I think we're are real close to exactly agreeing.

In retail,"key" was considered standard.  That is, I priced things twice I
pay for it (including freight, etc).  That seems to be the main difference
in formula.

What I figure is wholesale is retail cost of material plus the time it would
take a skilled artist x the rate a skilled artist would take to make it.
After all, being slow doesn't justify making someone pay more.  And cost of
materials times two is way too little if it's a price you can't get again,
and way too much if you paid too much for it in the first place.  So  guess
my wholesale is figured a little higher.

Then since retail is twice wholesale, direct should be some place in
between -- like 2/3 or 3/4 of wholesale.

Actually, it sounds like your formulas would be more applicable to buying
and reselling, than to making things.

Tina


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Re: Pricing worry
I s'pose part of that depends on the weight... do you know how many  
grams yours run?

I am seriously interested, but probably not until next month because I'm  
not too flush cash-wise right now! I'll email you.

-Kalera

Charlie wrote:

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Re: Pricing worry
On Tue, 27 Jan 2004 12:01:52 +0000, Charlie wrote:

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Charlie,

sounds waaay too low to me.  Have you posted this ? to rec.crafts.jewelry?
Someone there might be able to help you..

Just a thought,

Mavis


Re: Pricing worry
I haven't posted it to another group.  I don't feel I could charge more to
customers than I would pay for it myself.  It's just not worth than amount!

Charlie.

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Re: Pricing worry

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time

My time is obviously worth money, but I pay myself in terms of jewellery
making as much as I get paid at my job (I'm a lifeguard, classed as a
"professional") which is a pretty good wage for an 18 year old.  I don't
expect to make any more than that as a very novice jewellery maker.  I also
don't believe I can compete with chain jewellers round here if I raise my
prices much more.  I looked today and the max a similar 9ct gold bracelet is
going for is about 100 (and that was a very nice one with cz stones).
Maybe to the US market I could raise my prices, but that doesn't seem fair.
Hmmm.  I don't know, it's all so confusing.  I only want some extra pocket
money!

Charlie.



Re: Pricing worry

Hi Charlie,

Ack...   Well then,  for pocket money it isn't so bad after all

Mavis


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Re: Pricing worry

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I have that problem too. But I also tend to resist paying a lot of money
for decorative things in general, because I'm cheap that way.  

Being cheap has been a good thing for me -- it was part of why I decided
to learn to make jewelry, so I could have some of the nice things I was
too cheap to buy. :-)  

But if I take that attitude toward pricing my own work, I won't be able
to make money running a jewelry business.

--
Stef  **   avid/sensible/sensual/wise/essential/elemental/tangle
   **  stef@cat-and-dragon.com <*> http://www.cat-and-dragon.com/stef
 **
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Re: Pricing worry
If you *really* feel that way, you aren't counting your time in making  
it! A solid gold byzantine bracelet? For what translates to what...  
around $150 US???

That's not cheap, that's a steal.

-Kalera

Charlie wrote:

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Re: Pricing worry
I've never seen anything for sale in 10ct gold.  Only 9, 18 and 24.  Not
that I wear anything other than 9 as (IMHO) 18ct just gets damaged as it's
so soft.

Charlie.

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Re: Pricing worry
I don't think you will get 24 ct either only 22. 24 carat is too soft to  
use.
22 is the highest gold jewellery you can buy in the UK.

I have got some 18ct. gold here beside me left over from my college  
days.
Shirley




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--  
Shirley Shone


Re: Pricing worry
bah, I meant 22ct!  It's past my bedtime!  :-D

Charlie.

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it's
make



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