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  • FIRST POST
    • mapleleaf1010
    • By mapleleaf1010 1st Sep 17, 11:14 AM
    • 231Posts
    • 28Thanks
    mapleleaf1010
    Hourly rate for handmade beaded jewellery?
    • #1
    • 1st Sep 17, 11:14 AM
    Hourly rate for handmade beaded jewellery? 1st Sep 17 at 11:14 AM
    I need to calculate the price for my handmade beaded jewellery, but don't know how much my hourly rate would be.

    Any suggestions please?

    Cheers.
Page 1
    • Reb2016
    • By Reb2016 1st Sep 17, 1:26 PM
    • 90 Posts
    • 103 Thanks
    Reb2016
    • #2
    • 1st Sep 17, 1:26 PM
    • #2
    • 1st Sep 17, 1:26 PM
    I would want at least minimum wage, but the craft market is very competitive so you might find that you are charging more than most others making this type of jewellery. (That's why I stopped making Jewellery)


    Might be worth looking around at places such as Etsy and Local craft markets and working out what you think those people charge themselves.


    Reb
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    • mapleleaf1010
    • By mapleleaf1010 1st Sep 17, 3:06 PM
    • 231 Posts
    • 28 Thanks
    mapleleaf1010
    • #3
    • 1st Sep 17, 3:06 PM
    • #3
    • 1st Sep 17, 3:06 PM
    I would want at least minimum wage, but the craft market is very competitive so you might find that you are charging more than most others making this type of jewellery. (That's why I stopped making Jewellery)


    Might be worth looking around at places such as Etsy and Local craft markets and working out what you think those people charge themselves.


    Reb
    Originally posted by Reb2016
    Yes, I agree that it should be at least minimum wage. I'll have a look at Etsy and see what people are charging for their jewellery.

    It's a shame that many people expect crafters to sell their jewellery cheaply (boot sales or ebay prices).
    • Pun
    • By Pun 6th Sep 17, 4:33 PM
    • 500 Posts
    • 489 Thanks
    Pun
    • #4
    • 6th Sep 17, 4:33 PM
    • #4
    • 6th Sep 17, 4:33 PM
    Hourly rates aren't always the most helpful way to price a handmade craft item because individual rates of working/the quality of the finished item vary so much. You could seriously underprice if you are a fast worker turning out fabulous quality items which are bang on trend. Alternatively, you could price yourself out of the market !

    Try the 'rule of thirds' - one third of the price covers components, one third covers overheads and one third is profit - and see what sort of return that gives you in relation to time spent.
    • Tealblue
    • By Tealblue 6th Sep 17, 11:47 PM
    • 631 Posts
    • 990 Thanks
    Tealblue
    • #5
    • 6th Sep 17, 11:47 PM
    • #5
    • 6th Sep 17, 11:47 PM
    Forget trying to work out an 'hourly rate' - just sell for the maximum the market will stand. If that doesn't bring in a return you are happy with (whatever benchmark you set, which may equate to the minimum wage if that's your measure of success), think again about whether it's worth the effort. A quick look at the selling prices on ebay tells a depressing story about how much (or rather how little) people are willing to pay for hand crated items.
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