Pricing Your Handmade Jewelry: Tips from Etsy Experts
One of the hottest topics on jewelry-making forums is how to price your handmade jewelry and sell in brick-and-mortar shops as well as online shops and sites like Etsy. The divide between pricing your jewelry designs high enough to make them profitable but affordable enough to actually sell is full of conditions and nuances that are different for everyone, so there's no one formula to help jewelry makers price their work.
Some folks (myself included) have become comfortable with the formula of cost of materials plus one-and-a-half or two times the cost of materials for your time, but this doesn't work for people who do simple work with very expensive materials, or intricate work with very inexpensive materials, so the debate carries on. How do you account for style in that formula? In particular, what's the "added fee" for your own clever work and brilliance, especially for truly unique jewelry designs? I'd love to hear your thoughts about it in the comments below, and here's a fun tweet-chat discussion from Etsy about pricing your hand-crafted jewelry to get you rolling.
Update: Hot topic! There's a great chat brewing on Facebook about this topic this morning, in which this little gem about the cost of handmade from Somer Sherwood was shared. Excellent post! Read it and be validated!