I usually use a 1.5 to 2 multiplier to set my base price plus a bit more for my labor if the piece can command it. Jewelry's in great supply and the competition is tough; there are over 3.5 million pieces listed on Etsy alone.
Have something different, original and keep the workmanship quality up to help separate you from much of the competition.
Well I think when you are realizing the fact that 30 US dollar is too low then you must be considering this as how low is this? And accordingly price your pieces. Other than the prices included for the materials used and employers involved (if any), what you really need to think upon is how much will you price your efforts.
3.5 million pieces is an huge number. I have entered a few days ago my first pieces to Etsy. At this poin I do not if pricing is a issue as marketing and social media are.
Just a little thought on pricing, the US just signed a bill with a tax rate for a single person of $400,000. and over to a higher tax rate.
Now looking at this @$400,000. and divide by 52 weeks you get $7,692.00 a week, then divide by 5 days a week and you get approx. $38.46 an hour.
That doesn't even include and of your tools and matls. for the project. Not saying that you have to price your tems this way, but it does make you think about how and what to charge.
Please think about the aspects below before pricing:
1. Target Market: Based on your current process, styles and cost, who are your customers or who are you selling to?
2. Competitors: Based on your product with similar material, you need to learn your competitors’ pricings. The average prices are what you are able to consider. As online jewelers, please note because there are different labor cost in different countries, it makes no sense for you to consider the hourly cost.
3. On the basis of point 1 and 2, if your jewelry designs are unique, stylish, attractive as well as high-qualified, for consumers, the price is not very important. That is to say, you are able to set higher pricing than your competitors because your customers like your products. The branded manufacturers like Tiffany, Gucci, LV etc give a good example.
The successful jewelers online should be the ones who feel good about their work, get paid for what it is worth and own good reputation among consumers.
costume jewelry store
You should do market research to find the cost of jewellery pieces. As you are saying that other business owners sell their pieces at low cost and you do not want to do that with your pieces, you can calculate the cost you spend on its manufacturing and can decide the price accordingly.
That's quite good approach to guy products weather they online or in local market.
Palace Weddings India
They don’t value their own talent. They feel “lucky” to sell one of
their pieces at any price, even if the sale barely covers the cost of
They believe their jewelry is “unworthy” of netting higher prices.
Their well-meaning friends and family (who don’t know anything
about the handmade jewelry market) urge them not to “risk failure” by
setting their prices too high.