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I have been creating and selling my rings on a very small scale for several years and would like to venture into a more substantial income from my art. I believe I have a good product with enough demand but I am struggling with pricing. I have used the formulas but still feel unsure about finally setting a price. I know that supply cost and the amount of time to create each piece factor into the price, but I would like to know at first glance what you think is a fair asking price per ring. (retail and wholesale if possible)

I use sterling silver wire, glass beads, swarovski crystals, and rough cut gemstones such as quarts and citrine. Every ring is a one-of-a-kind piece. I do not mass-produce.

Please see the images below! or view the gallery on my website: http://organicelegance.blogspot.com/p/gallery.html

If you have any questions that would help you answer mine, please do ask. I greatly appreciate your advice!

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Really pretty, Jessica. Wish I could help you out! Not a clue as to how a jeweler prices their work. Go nudge the people in the Jewelry Genies group near the bottom of the home page and see if you can get some answers there.

Thanks for the advice!

Hi at first glance and considering what the rings are made of, I would say $50 wholesale and $100-125 retail.  I am not a jeweler, but I do buy a lot of jewelry and sell some in my salon/gallery.  I hope that helps you, and I think your rings are gorgeous!!

Jessica,

Very nice pieces! This is how I price my work: take the price of the items you use (i.e., the metal, stones, beads, etc.) add that up and double it. You're restocking your inventory with that price. Then add on your hourly rate of however long it took you to create the piece. My rate is on the low side but that is entirely up to you. Add tax and shipping if needed. And there you go!

I do silver work to go with my leather. Agree with Farah about doubling cost of materials for wholesale price, but other silversmiths I have talked to (engraved buckle guys) double the wholesale price for retail. Don't forget your overhead: show costs, consumables like your gases and solders, everything that you spend running your business. I combine mine with labor when crunching numbers. Be aware that overhead might change during the year. Always error in your favor. Check out last weeks discussing on How Do You Price Your Work. Interesting comments from other mediums to take to heart.

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