Factoring your time into your jewellery costs

[Keia]

I know it's hard to value yourself, but if you don't, nobody else will.

Carin

Nail & head =D

[caroleallen]

The only way I make money is by making everything the quickest way I can. I have lots of labour saving equipment and I get a lot of stuff cast. I make much more money selling 20 pairs of cast silver earrings which take me half an hour to finish than I do making 1 pair from scratch in the same time and for the same price. Whether I get the same satisfaction is debatable but at least I'm making a good living.

As for local craft fairs, they're really not worth doing these days, except at Christmas. I don't even do the expensive ones in the South East any more.

[camalidesign]

I guess it all depends on the market you cater to. I prefer to make fewer pieces at a higher cost because it's just me making. I haven't got any staff to spread the load So for me it works better with one offs and then some collections (including some cast pieces) as a base. It makes it more fun for me as well, I hate making the same thing over and over! The one off appeal is important for some customers who want the exclusivity, but others don't mind that the pieces they buy are sold in multiples.

It also depends on how you price your stuff. Whether you price according to time spent on a piece plus all the usual (materials, overheads, profit etc.) or if you price according to what the piece could fetch, e.g. for a cast piece you can have a larger markup due to the less labour you spend on it in relation to the final perceived value of the piece, if that makes sense! What I mean is that having it cast will cut down the cost of labour, but the end result is similar to a piece that was made from scratch which took a lot longer to make. So yes, I can see how you make more money on those cast pieces that just need finishing, Carole.

I guess the trick is, regardless of your market and your production model, that you don't underprice what you offer.

Carin

[enigma]

Its swings and roundabouts really, if you have stuff cast then you need to know how many you are going to sell so are getting further into the job of retailer.
I have a few items that I have sold quite a few of so would have been easier to send out for casting but its always a gamble then to how many you might sell.
Mostly though I would die of boredom if I had to keep making the same thing so prefer the challenge of new designs even if it takes me more time ( much more time if it has stones in hahaha)

[Patstone]

I agree with Carin really, I only do mine as a hobby so as long as I cover my costs with craft fairs it doesnt really matter. I get a huge kick out of selling things, not just because of the money but because someone loves something I have made. Sad isnt it, but every piece both my daughter and I make is unique, no two items are ever the same. The only exception we make is if someone loves say a ring, but it doesnt fit, then we will make one that does, but we will make it very slightly different, say for instance, make the bezel back a bit bigger so it has a small surround. For me the pleasure is in the design and making.

[caroleallen]

I started out making one-offs. I soon found though, that if I had a design which sold quickly, I'd make more of them and I started developing ranges. This was helpful as the more I made, the quicker I got and the more money I could make. Making one-offs always takes a lot longer. Before long, my jewellery was being recognised and people would buy, say a necklace and then come back for the matching earrings. It was also good in that people could buy for other members of the family, knowing that they liked my work. This was also good for galleries as they could order work from me and know that it would be consistent.

I've done shows (big and small), galleries, trade shows, jewellery parties - in fact, you name it, I've done it. I'm very "lucky" now that I don't have to do them but I've done the ground work.

[camalidesign]

Collections definitely makes sense when it comes to selling to galleries and shops, very true. They like displaying a cohesive range, easier to get impact that way. Although I also have a gallery that specifically wants my one off pieces, it's just down to what they do and how they market themselves, with one offs and larger pieces for more money. So that's good for me, means I get to do both!

You are right Carole, one offs do take longer, first time a pieces is made you always experiment and tweak until it's right and of course the next one if you make it, is a lot quicker. I do quite often find that I haven't really charged enough for commissions, I have to get better at adding contingencies to the labour cost! Oh well, like you said, it's all a learning curve and I think one just has to get through it and arrive at what works best for one self, one's kind of work and work situation.

Similar with me, I have only done 1 show this year, and that was my local Food, Arts and Crafts Festival here in Boscastle, which I only really do because it's my local event. Other than that I am lucky as well in that my online sales and commissions made keeps me busy. Would be so nice to have more time to play though! If only I could win the lottery, what fun I would have with all the materials and time I would have!

Carin

[enigma]

Yes new designs always take me longer too but so much fun !

Eurgh to shows! I did one exhibition when I was painting and hated it and have never, nor will ever, do another.
Thankfully I found a niche that sells well online.

[lolabead]

The only way I make money is by making everything the quickest way I can. I have lots of labour saving equipment and I get a lot of stuff cast. I make much more money selling 20 pairs of cast silver earrings which take me half an hour to finish than I do making 1 pair from scratch in the same time and for the same price. Whether I get the same satisfaction is debatable but at least I'm making a good living.

As for local craft fairs, they're really not worth doing these days, except at Christmas. I don't even do the expensive ones in the South East any more.

Really sorry for ignorance but what is meant by 'cast'?

Also just wanted to add I've been clicking on the links to all of your websites etc. and am feeling very privileged to be able to come here on and connect with such talented people.

[enigma]

Lost wax casting Lola, where you make a model in wax or clay then make a mould of that which is then used over and over again to create the metal version.
Its great for certain metal items if you want exact copies.
One of my horses hooves Ive sold about 30 of in the last few months, if I had known I would have sent off for them to be cast but instead Ive cast them myself in my Delft clay system one at a time- much more time consuming.

I feel the same BTW, there are some very talented folk on here, we are so lucky to have such a resource