Wednesday, 3 December 2008

Where does the time go?

Wow...where does the time go? Nearly one week since my last blog entry. I have been a little under the weather of late. Like I have said previously there are so many bugs around at the moment. Anyway I think I am nearly over it, headache is finally settling and the earache is settling as well.

What news for you all then? Well only 2 days to go till my party. This is only the 3rd party that I have done. Both of the other 2 went really well so I am not worried about that this time. I am a bit worried that I have not got enough stock!!!I am making stuff each evening and have some sets of beads that are not made into jewellery that people can look at and ask me to make into jewellery for them. But how much is enough?

This is quite an odd feeling really...I don't do this to make a huge profit but obviously I want to make some money but that said I cannot undercharge for my work as there are other who are making a business out of this that do not need people selling jewellery cheap! Some of you might say I should not be worrying about what others sell their goods for just sell mine but this pricing thing is a complete minefield. I can't remember if have discussed this before so I will collect my thoughts and check old posts before launching into a blog entry about pricing! I do need to emphasize though that I pretty much exclusively use sterling silver for my jewellery which definitely impacts on my prices. When I started this business there was so much I just didn't think of cos I simply didn't know. Don't get me wrong though I am loving running my own business and I can make little mistakes cos at the moment it is not my bread and butter but one day who knows.......I have a dream! :-)


  1. Oh, the old pricing's a good one isn't it? I tend to go with gut instinct (very scientific!). I am sure you should add about a 50% mark-up (someone please correct me here), but I've realised that if I do this on say lampwork braclets I would never sell any:) So bracelets I make less profit on and say earrings I make more on. My idea is to make anough to cover my costs and to try and make my items affordable without me giving them away - which I would do :) Any help? Probably not....good luck with the part Vx

  2. Pricing is THE big thing. I really understand about over or under pricing, you are not a novice beadmaker, like myself, but not an old hand at it either, so, I feel you have to price your work according to how you feel about your own work and not try and compare it with other beadmakers because we all feel different about our work. If you are using real silver in your work then that automatically puts up the price compared to plated findings. People will always buy it if it is really cheap but will think hard about it if it is more expensive. But if they love it and have got to have it they will buy it regardless of the price. We are in hard times now and people will be much more careful of what they purchase ~ full stop! Plus if something is not selling and you feel you may have had the price to high you can always drop the price (have a sale) it is much harder to put the price up. Or when you talk to your customers and they really like something but say they cant really afford that price then talk to them and ask them what they feel they could afford and have a little game of bartering with them it can be enough by dropping it by a £1 or 50p for them to buy it. Just 'play it by ear!. Have fun and good luck!!!

  3. some very good points guys. At the moment I have 2 main ways of pricing! Beads are sold depending on how long they take to make and I charge an hourly rate. Jewellery is cost of materials and then a mark up either 2 or 3 times cost but then i look at the piece and think what would I pay for it so gut instinct definitely comes into it. The real challenge comes when you look at others work and this is where my dilemma lies. I am still thinking this over and will share my thoughts ssometime but there is not a "Golden" answer!!! Interesting debate tho :-)

  4. Hey Saffie, how did the party go? If I'm catching up right, it was yesterday, yes? I hate pricing - I feel I overcharge on some thins at the mo', and undercharge on others...but if it sells, you've got to do something right, and that's the quality of your work :o) Hope you feel better soon, hun!

  5. Hi Sabine,
    the party went well thank you couple of orders nothing to stressful and only a couple urgent for Christmas which is ok!
    Still have no voice but feeling ok all the time I don't talk. the effort to talk is immense so I am trying to be quiet which is very hard for me!!! :-)