The question I'm repeatedly asked is how to price handmade jewellery. This is probably the one aspect of selling jewellery that confuses people the most.
Of course you must take into consideration the cost of the materials used and the cost of your labour, but other factors such as target market and the location where you are selling your jewellery also come into play. I've written about these in more detail in the first post that I wrote about selling handmade jewellery. You can read the article by clicking the following link: http://thebeadclub.blogspot.com/2013/08/selling-your-handmade-jewellery_26.html.
Don't forget that consumers link price to the value of the item. You don't want to use quality materials, spend hours making a piece of jewellery and then practically give it away by pricing it super low!
Auntie's Beads has provided a very useful tool that anyone can use to help them price their jewellery. Click the link to view their Jewellery Pricing Calculator: http://www.auntiesbeads.com/jewelry-pricing-calculator.html.
The Calculator allows you to enter the cost and quantity of materials, whether the item is being sold retail or wholesale and the cost of other items such as gift wrap and labour.
One feature that I really like about this nifty tool is the Clock! If you're anything like me, you get so excited about making a new piece of jewellery that you forget to time yourself to see how long it took you to make. Then after you've lost yourself in the jewellery-making process, you have to guess how much time went by! Knowing how long you spent making a piece is very important if you're going to be fair to yourself and to your customers. No overcharging or undercharging anymore! Time yourself using the Clock on the Calculator and you'll be good to go!