Should newbie include work hours in jewelry price?

[SilverBouillon]

I'll add my tuppence worth - not sure how useful it will be but there you go.
I have two rates for my labour charge. If I'm making something I've made a number of times before and is going to be relatively quick to make, I use my "standard" rate of pay. If I am playing around and trying something new, I use my "learning" rate which is half my "standard" rate - that way if it takes twice as many hours to be "right" then the cost isn't too bad.

That's interesting perspective, thanks. I will keep it in mind later on if I can come with some "collection" and it will sell (I hope). Designing prototype - one rate, making a few similar- another.

[Anna Wales]

I have 2 types of work. I have a number of patterns that I know are good sellers and I have these cast and so there is only assaying and finishing to be done on them, giving a good profit margin. As Carole said maybe commercial but bills need to be paid, okay not artistically satisfying to some people but I am still as pleased to sell something taken from old patterns now as I was back in the dark ages.

I also make other pieces that do take a lot longer and the profit margin is not as high, mainly because of the metal prices having gone through the roof.

I agree with you Peter that generally prices should not be negotiated but if somebody is buying a couple of items or making up a set then I am prepared to move slightly and I've found that this brings repeated custom. I have no problem with 10 £20 sales as opposed to a £200 sale, as long as it keeps me making I don't mind how it comes in.

I think the most important part of selling at events or online is to explain and show customers what's involved in the making of a piece, make them appreciate the work and skill involved in what you make.

[ps_bond]

I have no problem with 10 £20 sales as opposed to a £200 sale, as long as it keeps me making I don't mind how it comes in.

Here's why I do not believe any jeweller should be selling handmade items at £20:

Working backwards through the formula I quoted -
£20 retail
£10 wholesale
£8.33 materials & labour.

At £20/hour, you can spend a maximum of 25 minutes on it (but no materials!)
£10/hour pushes that to 50 minutes.

At minimum wage, you could spend a whole hour on it AND have £2 for materials (including packaging, promotion and everything else).
Minimum wage is not appropriate for skilled work.

Then there's the issue that my personal preference is to make items which have far more of my abilities focussed on them. I've got to have buy-in on making a piece.

[caroleallen]

I have a couple of designs that I turn out for £12 at shows. They're made from aluminium, so cost pennies, and I can make 10 in an hour. They sell like hot cakes.

At over £100 for an hour's work, I don't think that's a bad return.

[ps_bond]

OK, but how much time do you have to spend at the show to sell 10?

[Patstone]

Your formula Peter is a good one if you are quick at making stuff. After a couple of years of a hobby jeweller, I am unable to make anything in 25 minutes except perhaps a plain ring. For us that are in the stage that I am, retired etc, there is no hurry to finish, especially as getting paid for it is a bonus, but you guys that do it for a living I know it must be tough. If I charged even minimum rates per hour, it would take me a day to make a ring with a cab set in a bezel setting, so if you said 7 hours at just for instance the minimum wage (for the sake of argument I will say £8, as I am not sure what it is now) that would make the labour on the ring to be £56, then just say the stone was another £5, and the silver on top was another £5 and of course the gas, solder etc another £1. That makes a total of £67, then to incorporate travel costs or table costs for a show, we normally pay £20 a table for the day, just to cover costs would make £97, and my opinion is that things wouldnt sell. Like it or not, you can only sell things if people are prepared to spend the money. If it is for a keepsake or for someone special, yes people will pay a bit more for it. I understand that to make a living at it you have to charge more, but do people pay £180 ish for a ring, for themselves. Have a look at my website and see the prices I charge, things havent sold from my website but they sell at craft fairs. www.iscasilver.co.uk have a look and see the prices, should they be put up, we just add the cost of the material and judge how much to add on, judging how much we would pay for it if we were to be buying it.

[ShinyLauren]

Someone with your talent should be able to make a success of it Lauren but I know how difficult it is to make a living out of jewellery making. It wasn't until I gave up my part time job that things really started to take off for me. That was about 6 years ago and things are a lot harder now.

I'm actually shocked to find you don't do this on a more full time basis, like Carole I would have thought that your work would sell well.

Thanks guys, that's really sweet of you. I'm hoping that once people know I exist I might sell more stuff!

Feeling a bit better about things today, just been having a really bad week at work. In any other circumstances, I would just quit and look for something three days a week, but the boy and I are trying to save for a deposit to buy a house so we can stop paying crazy London rent (a mortgage would be cheaper monthly!) So, yeah, can't really be earning less money right now.

I'll get there eventually!

[SilverBouillon]

Yesterday I realized the most intimidating thing for me- jewelry TV sales.
2.5 cm wide ss woven bracelet, big multiplied links for 63 dollars. Made in Turkey. I can not compete with Turkey, or with China. I better ignore those shows. At least for now.

[ps_bond]

Read between the lines on these shows - they're very good marketing, but... "Diamonique" - cubic zirconia. 18 carat gold (plating over silver). Platineve - sounds a bit like platinum, but it's just another plating. Clever stuff, very well hyped, but as with everything - at the end of the day, if it sounds too good to be true it probably is.

[SilverBouillon]

Read between the lines on these shows - they're very good marketing, but... "Diamonique" - cubic zirconia. 18 carat gold (plating over silver). Platineve - sounds a bit like platinum, but it's just another plating. Clever stuff, very well hyped, but as with everything - at the end of the day, if it sounds too good to be true it probably is.

Peter, I know! But it's still intimidating. Perhaps, the most amazing is how they push this stuff, and how it goes. Video is powerful thing.
Oh! I can include video presentations in future site.