How to price your jewelry and handmade products

Today, I want to talk about how to price your handmade items. I know several people ask how do you know how to price your jewelry, or how should I price my jewelry or other items. Well, surprisingly, the formula is quite simple!

Cost price(materials+labor)x2= Wholesale
Wholesalex2= Retail price

However, from this formula people want to know how much they should charge for labor. That is for you to decide not me. Each person may feel that their time is worth more than anothers. I, personally, charge by hour a X amount of dollars, but if I only spend 15 minutes designing and piecing some earrings together, then I charge only a percent of the original X amount, which would be 25 percent for 15 minutes and so on.

Example:

Materials- 1.50 + Labor- 6.50 per hr= 8.00 x 2= 16.00 Wholesale
16.00 x2 = 32.00 Retail


Now, you may be thinking "Wow, that retail is a sticker shock," but don't worry. You can always have a sale without the concerns of losing any money. Your time is worth more than you think and people always pay more for personalization and handmade items.  

Let me know if you have any other questions! I'd be happy to help. Enjoy your Christmas! :)