WOOHOO! My First Sale!!

Congratulations Tanya,

$55 is NOT overcharging. Did you put $10 of material and $15-20 of time into them? That would give you a wholesale cost. Retail is double that.

Done good!

Tina

RIGHT ON - congrats!!!

Carol in SLC New auctions:

Well, I have $4 in the silver pendant and $6 in the gold for materials. I multiplied materials by 4 and added $10 for labor. Right now it takes about an hour to make one pendant. Supposedly I should eventually be able to make one in 20 minutes.

I'm not real sure where the multiply the material times four comes in. I guess that's doubling wholesale for base cost on your piece, which you would double again if you are selling it yourself, at retail.

If the material is wholesale double it. Then add your labor, and other working expenses. That gives you WHOLESALE price. That's what you get from a store if they sell it for you. And if you're selling it yourself you double that for retail (as the store would do).

However you came by it though, the price sounds like a good deal for both of you..

Tina

I dunno, I got that calculation from a posting somewhere on the net. Using your formula I undercharged by about $10 on each pendant. But considering that I have just started and these were not ultra-stunning examples of wirework, I am happy with what I got for them (and still felling like I overcharged). I guess I will get more comfortable with pricing when I have sold some more, which I hope I will do!

Thanks!

Tanya

Congrats!!! And don't feel guilty about pricing your work at a fair price. All you need to do is make sure you are using quality materials and that your technique is good. At that point, charge what you think is fair for your time and effort. People will pay for quality! Sounds like your customer knew she was getting good stuff!

Yes - the more you do it, the more comfy you will feel about it. And I think you're starting out great!

And BTW - your pendants are stunning - they're original, unusual, lovely and very well made, from what I can see of the pics. You're ahead of the game in that respect! Be proud!

Congratulations! It's heady stuff, isn't it? Nothing like a sale to affirm you're doing something creative that people like enough to buy.

-- Margie

OK, take a deep breath. We all started at this point. She underpaid. But hey, that's what you charged her. Go to a few higher-end shows. She what comparable work is selling for. Then raise your prices. It's fine. You did good. They won't break. She's probably giggling herself silly over the great deal she got. Barbara Dream Master

"We've got two lives, one we're given, the other one we make." Mary Chapin Carpenter

Times 4 for materials is good. I generally do times 5, but I have a studio to support....... 10/hr. may work for some people, but even my housekeeper gets 15.00! Pretend you are in business. You have the give the govt. 15 percent for SS. You pay your own unemployment, disability, vacations, etc. A self-employed livable wage starts (somewhere where it's cheap to live) at 30/hr. Barbara Dream Master

"We've got two lives, one we're given, the other one we make." Mary Chapin Carpenter

Well, with the $10 for labor, I figure that when I get better I will be making $30/hour. :) I am still starting out and learning and these early pieces have flaws and such to where I feel that what I charged was fair (or a little over). But as I grow in my abilities, I will need to rethink my pricing. Thanks for the info!

Tanya

Sterling Silver and 14k/20 gold-filled wire. I wouldn't have sold her pendants made out of cheap wire for that much! :)

Tanya

Just make sure you aren't being too critical of your work. The pictures look fine. A bend that is exactly "perfect" won't even be noticed by someone who can't do wirewrapping. Things that might break are another story..... Just make sure you don't become your own worst critic! It's too easy to do when you care about your work. Barbara Dream Master

"We've got two lives, one we're given, the other one we make." Mary Chapin Carpenter

Congratulations!!!