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31/10/2018 - Costings

Today we had a class on working out the costs of production and what pricing up your work.
It was a very brief overview of, what I consider to be, the most important thing we've learned so far.
I've been doing this for 8 years, and I still don't have a clue.

I've gone into quite detailed costing in the past for my business.  The table below is one I did about 3 years ago.
I think I used an hourly rate of £15, which is pretty low, but it was when I had a full time job and doing jewellery on the side.
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The calculation I used for this project is much simper.
Many of the numbers are guesses (e.g. I have no idea how much a stone setter charges).
I knew exactly how much the stones cost, because I had to buy replacements when I lost my originals.  Compared to others in the class, who were looking up the prices of diamonds & sapphires, my stones are extremely low cost.
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I ended up with a wholesale price of £1675 and retail price of £4189.
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  • Home
  • Shop by collection
    • "Anjo"
    • "Lulu"
    • "Nova"
    • "Rosa"
    • "Hedera"
    • "Quercus"
    • "Madison"
    • "Hylle" medieval initials
    • One of a kind pieces
  • Shop by type
    • Necklaces
    • Earrings
    • Rings
    • Bracelets
    • Brooches
  • Wedding Rings
  • Events
  • Classes
  • About
    • About
    • Awards & Exhibitions
    • Testimonials
    • Services
    • Social media feed
    • Contact
  • Gallery
    • Gallery
    • "Masquerade" Hare
    • Videos
  • More
    • Newsletter
    • Hallmarking
    • Terms & Conditions