Can’t tell you how many times I have asked, I’ve been asked and will be asked this question again! How much do you think I should sell this bracelet (necklace etc) for? Well the answer is simple…kinda… There’s three general methods for pricing one’s goods. I purchased the book “Sell Your Jewelry..How to Start a Jewelry Business and Make Money Selling Jewelry”, by Stacie Vander Pol…an excellent guide by the way and it gives pretty good tips.
The most common way is 2 x (cost of materials and time)…for the non-mathematicians, this simply means to double the cost of time and materials. What this means is you’ve got to establish a system of deriving your cost of materials (guessing is a method, but I’d wager that you miss something and could short change yourself), keep track of your time (including design time and materials purchasing time) and then to figure out how much to pay yourself. All of which Stacie Vander Pol touches in her book.
Susie Henderson of Auntie’s Bead posted a blog on this very topic that was a good read. http://blog.auntiesbeads.com/price-jewelry/ Check it out! Both are good reference materials.