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Pricing Your Jewelry

Advice and a Pricing Formula


Jewelry Making
Reza Estakhrian Collection/Stone/Getty Images
I’ve hesitated to write too much about how to price hand-crafted jewelry before because there seems to be as many ways to do this as there are ways to cook a chicken, and I can’t say one is more accurate or correct than another. A lot of pricing depends on variables such as location and required income. However, I thought I’d at least share with you how I tackled this myself when I was regularly selling my jewelry at art shows and to boutiques and galleries.

Busting a Selling Myth

First, I’d like to address the myth that low prices make merchandise sell more quickly. This isn’t always true, especially when it comes to hand-crafted items. As a result, many hobby and craft business owners cheat themselves out of making a reasonable profit. This is easy to do because you want that money to start coming in as quickly as possible. It's tempting to believe that the lower the price, the quicker it will sell. However, sometimes super low prices may make customers suspicious. Why so low? Is there something wrong with it? Also, if someone really wants an item (as long as the price isn't outrageous), they will pay what you ask.

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