❇Make sure to check out my online store where you will find everything you see in my videos and more! www.kelliesbeadboutique.com ❇

This was so helpful! And as a young woman, thank you for reminding us to value ourselves! We deserve compensation for our time, talent and skill :)

@KelliesBeadBoutique

2 жыл бұрын

Awesome! Thank you for watching. ❤️

I would never imagine it could come up to almost 10 times the cost of goods! Thank you... and you're right about how men and women have different sense for value their own handmade arts. Looking goood

@christinasundling4450

2 жыл бұрын

Standard cost to wholesale to retail..is cost ×2.5=wholesale multiplied by two =retail.

@amandajones6481

2 жыл бұрын

@@christinasundling4450 Thank you Christina for giving us the equation for working out the actual cost of jewellery. I made a pair of earrings for a friend of mine, and they were sterling silver with Swarovski tear drop crystals hanging from them. The materials I used to make them only cost around $20.00 (in Australian dollars, which is about $13.00 American) and I gave the earrings to her as a gift. Then, a week later I saw exactly the same earrings as the ones I made, except the crystals definitely weren't Swarovski, and they were being sold for $120.00!! So I've decided to make lots of pairs of earrings and sell them at my local market. It only costs $10.00 to hire a trestle table and you bring your own tablecloth and everything else you need to display your jewellery, and something to keep your money in, and plenty of change - because people never have the right money! It's so much fun and you can lower the prices as the day goes on, or go and look at what everyone else is selling. The last time I had a stall at a market, with a friend, we made $300.00 between the two of us, and we had so much fun. Love from Amanda in Melbourne, Australia ❤️

Really appreciated. I’m a beader, since 1968, I just love love love creating. But it’s a hard market. We have to be very original.

Thank you so much for this video. I started making jewelry nearly 25 years ago and have always struggled with pricing. My Aunt had her own ceramic shop and she told me in ceramics, you usually multiply your cost by 5 to get the retail value. Unfortunately, I was never sure if that value was transferable to jewelry, and I was too hesitant to use it. Now, after watching your video, I think it probably was still a bit too low. And you're absolutely correct, I certainly do undercut myself when I consider what my time and labor are worth. Sometimes I have felt that I had to give a family member a "good" discount, just because they'd expect it. Yet, my Aunt would just tell them 10% was all she could do before loosing money. Well, they rarely made a 2nd purchase from either of us, so I learned that you can't judge by what your family does. But, isn't it funny that friends will come back over and over again? When I started making jewelry, I was purchasing the silver settings and the gems, then assembling them. But, after learning how, I started making the silver settings myself. Well, I knew I couldn't under price those, so I took them to a jeweler and asked for an appraisal. I told him I bought it at a garage sale and wanted it's values for both, insurance and retail, because I wasn't sure if I would keep it. I then made similar pieces in different colors and patterns, but priced them all the same. I have one 18" necklace made from ruby beads attached by 18K wire, with an 18K spring clasp and ring. (Each bead has a wire with a loop on each end, attached to the next by a modified "infinity sign.") I was in complete shock when I saw the appraisal was $300! I would have never charged that much, because I had bought the rubies from a wholesaler with a whole group of gemstones. So, I even undercut what my gems were worth. Letting a jeweler run tests on the gems, is still the best way for me to know their quality and value. Especially when purchasing in quantity from a wholesaler.

@KathleenWeber

2 жыл бұрын

PS~ Otherwise, I'm using your method of pricing. Thanks again!

@KelliesBeadBoutique

2 жыл бұрын

I’m glad I could help a bit. Pricing is tricky but as long as you are making money use whatever works for you. ❤️

@bonnietraynor1133

2 жыл бұрын

Wow What a great idea! I never would have thought to take it to a jeweler. Did you sell that piece?

This formula is exactly what I've been looking for. Thank you also for reminding me not to underprice my work and take it seriously. I've been making jewelry for years and charging too little. I'm already understanding my worth more fully. Just discovered you so I'm looking forward to watching all your videos.😃

I really appreciated this vid! this gave me a lot of confidence in pricing my pieces.

Thank you so much. I’ve watched other videos on how to price but I would get confused mostly because people tend to ramble on and on. You are so good at getting to the point but still making it fun to watch.

Wow, I seriously undervalue myself and I give WAY too many discounts. I have an expensive hobby at this point. I really need to rethink pricing and definitely get more organized. Thank you SO much Kellie!

@monjier

3 жыл бұрын

Street Racing and Car Community is what you call an expensive hobby 😂 imagine your normal car maintenance except whatever needs replacing is triple the price and something breaks every 3rd month.

@kellbellmichelle2979

Жыл бұрын

You know you’re right, when you think about how long it takes you make even a simple bracelet you realize that you take great pride knowing you made some beautiful, not to mention the patience that come with it. It was pointed out to me that I jewelry making has help me build some serious DIY skill, even if some of the techniques I use are repetitive, that’s some serious self value there

Yes, this is helpful. I do the same as you -- price out per bead/item, although with wire and such that comes in spools, I classify it as "Cost of Goods Sold". I've used some accounting programs in the past, which really help with calculations and inventory. Something doesn't come out of inventory until the item is sold, because in theory (if it doesn't sell) I could take it apart and use the items in another piece. Doing the books isn't fun, but it sure is necessary! Thanks for the formula - that will be helpful. And, I think you're right about how women undervalue their expertise and value. I've taken to charging double what I think the jewelry is "worth", and to my surprise, people buy the pieces readily.

@KelliesBeadBoutique

3 жыл бұрын

I’m glad you found it helpful. 😀

@michelecherek5392

3 жыл бұрын

That's great to know, TOO! THANKS!💖

@iluvdramarock

2 жыл бұрын

I do the same when my piece isn't selling, I just take it apart it. I don't want to give too much discount because then I am undervaluing myself and my work. We need to change how we value ourselves.

I rewatch this almost monthly...to remind myself how important it is NOT TO UNDERVALUE MY TIME OR NY CRAFT!!! THANK YOU KELLIE!!!

@KelliesBeadBoutique

2 жыл бұрын

💖💖💖

I never new so much went into this craft, thank you for the love and support.... I’ll follow u on my journey to success...

I wish I would’ve seen this years ago. Thank you for this.

@michelecherek5392

3 жыл бұрын

Than makes TWO of us! Been beading 15 yrs!

Such terrific information. I would not have thought to do what you did. Thank you Kellie for sharing this with us, GREATLY appreciated.

Perceived value. That’s the piece I was missing. Thank you!

Thank you, Kellie, this was MOST helpful!

This is a mayor eye opener. Thank you so much!

Thank you Kellie, that was so helpful.

@KelliesBeadBoutique

3 жыл бұрын

Thanks so much!

This is great advice, thank you. And what a sassy haircut! Cute!

Thank you Kellie! This truly makes sense. Just what I needed to know! ❤️

Thank you very much for your generosity!

Best advise. I am just starting, thank you so much.

@KelliesBeadBoutique

3 жыл бұрын

Awesome. So glad it helped.

Thank you! I appreciate the formula. Have a great day 😊

@KelliesBeadBoutique

3 жыл бұрын

You are so welcome.

Thank you Kellie!!!

Thank You So Much Kellie.

Aloha from Hawaii, this is greatly appreciated. Mahalo and blessings on you for this share.

I am just starting out on my journey of making jewelry. This video really helped, and as a woman, I now know I shouldn't under value my items just because I made them!

@KelliesBeadBoutique

3 жыл бұрын

Awesome!

Excellent advice. Thank You.

Thank you so much Kellie for making and sharing this video.

Thank you. This was right on time. Like the new haircut, too!

@KelliesBeadBoutique

3 жыл бұрын

Perfect! Thanks so much. ❤️

@carolynferrari1496

3 жыл бұрын

@@KelliesBeadBoutique one more question, please. The work I do is all one of a kind. I don't duplicate any of my pieces. How, if at all, does that impact value/pricing?

@KelliesBeadBoutique

3 жыл бұрын

It shouldn’t at all. It might affect your labor as you are likely being creative which can take time. My labour pricing is based on knowing what you are making time and time again. You may just want to have a set price for the labor aspect on one of a kind. The other pricing will be the same as my formula.

@carolynferrari1496

3 жыл бұрын

@@KelliesBeadBoutique so, if I was doing a commissioned piece, charge a flat rate for labor and follow the formula for the rest? That flat rate is based on what I believe my value is worth, kinda like when deciding on how much to charge per hour? Thank you, for taking time to answer. I appreciate it. ❣️

@KelliesBeadBoutique

3 жыл бұрын

@@carolynferrari1496 exactly. I have a friend who now charges over $700 for her necklaces. We did a test. She said no one would ever buy her pieces at that price. Once we changed the price it was the first thing that everyone inquired about. 😀

Thank you soooooo much for sharing this, just getting ready to open my retail jewelry business & this just confirmed my pricing. God Bless🌸Alicia

@KelliesBeadBoutique

3 жыл бұрын

Awesome! I’m so glad it helps.

Thank you Kellie, I appreciate your time spent here.

Thank you Kellie! Feeling really inspired watching your videos :)

Love the new hair cut!!! Thank you so much for this information. My friends and I have struggled with pricing.

@KelliesBeadBoutique

3 жыл бұрын

Awesome! I’m so glad it helped.

I have supreme gratitude for your willingness to share your journey and the importance of factoring in all real costs along with perceived costs when putting creations into the marketplace. I consider myself an organized person, however, your recommendations for noting the specific costs of components is invaluable. It is a means for understanding all costs apart from "perceived value" costs! Thank you ever so much. ~DM Hellings, wife of a fellow Canadian.

@KelliesBeadBoutique

3 жыл бұрын

Thank you so much for your kind words. ❤️

Thanks Kellie! So helpful - much appreciated!

Thank you so very much!! Love all your tutorials!!

Thank you! I hate pricing my stuff and I feel like I never get enough profit for them. Even if it is sort of a hobby (I do historical jewelry so I have a really small customer group and could never live only on my jewelry even if I wanted to) I am tired of working for nothing. This helped A Lot!

You rock Kellie!

I appreciate the time you give all of us. This information is and will be helpful.

Thank you for sharing your knowledge always been a struggle when it comes to pricing for me . Can you share about packaging is that included in your pricing as well?

@KelliesBeadBoutique

3 жыл бұрын

Thanks Donna. That is one of the reasons I added that extra percentage on there for things like packaging etc.

Thank you Kellie, I always wondered how much should a quality work retail for.

@KelliesBeadBoutique

3 жыл бұрын

I’m glad it helped. ❤️

Thank you for much needed advice.🌸

Thanks kellie you are a great teacher

This was ever so timely for me, thank you! If you could shed some light on how to buy supplies at wholesale that would be awesome.

@KelliesBeadBoutique

3 жыл бұрын

I sell wholesale. It’s best done in an email. 😀

Great video, thank you. I will add that I really agree with the 2.5 (might even do 3x) for the cost of goods because one of the reasons is that your prices on the cost of those items likely are lower then normal because you are buying in bulk, or wholesale, so they are technically under priced to begin with and who knows how long you will sit on those components before they are used up.

@KelliesBeadBoutique

3 жыл бұрын

Yes. 3 times works too to add in all the other little things you don’t recoup. 💕

Thanks!Love the hair!

Thank you, very helpful! Love your new hair style!

Thank you. I'm just getting started, and pricing had been a hangup for me!

First, LOVE your hair! You look younger. ♥️♥️♥️ Second, thanks so much for this video. I had no clue how to price and with my my guesstimates, I was underpricing by a lot. More like my self worth was pretty much free. 😲

@KelliesBeadBoutique

3 жыл бұрын

Thank you! I’m so glad it helped you out. Yes. Know your worth. 🥰🥰🥰

Love your work

Enjoyed it and learned. Thank you so much!

Thank you so much for this, Kelli! I'm working on planning out my online shop, and was writing down pricing.... then saw this and realized I was *seriously* undercutting myself! I think you're right, sometimes women don't know their own worth. :) Thanks!

@KelliesBeadBoutique

3 жыл бұрын

Good luck! 🥰

Kellie thank you so much for this! I am working toward turning my hobby (mainly wire weaving) into a business and really struggle with the pricing aspect, especially when factoring in the hourly rate. Most of my pieces take many hours to complete so I guess this is where perceived value comes into play?

@KelliesBeadBoutique

3 жыл бұрын

Absolutely. You will have to figure out a special formula given the nature of your craft. Maybe a flat rate type of thing for the labor.

@rochellebg2031

3 жыл бұрын

@@KelliesBeadBoutique Thank you. Now to figure out a flat rate! 😄

@cherylj7460

8 ай бұрын

I wonder how you’re doing now? I really admire that intricate wire work.

@rochellebg2031

8 ай бұрын

@@cherylj7460 I've morphed into metalsmithing now but still do wrapping and weaving on occasion and I STILL struggle with pricing!! 😅

@cherylj7460

8 ай бұрын

@@rochellebg2031 I bet. I know how time consuming it is. I see a few shops on Etsy who sell very nice wrapped designs. But the prices are low.

I officially Love you. Thank you for this costing tip. I always undervalue my work.

It is all wonderful, thank you for this information!!

Very informative. Thanks Kellie!

Have learned so much from you! Thank you!

Very informative! Thank you Kellie 😊

I really under value my work! Thanks so much

awesome I have been having a issue with this and you saved the day!

This is very, very helpful!!!! Thank you so much! I love your videos.

AWESOME , God Bless You Kellie's Bead Boutique

Thank you!!! This help to much!!!

Thank you for your time I really love the way you explain everything to all of us watching .will be watching all your videos 😁

Thank you, down to earth and realistic advice 👍😊

Thank you so much for this video. It was so helpful!

Absolutely helpful.

That you so much for teaching me my true value of my work. I so appreciate your advice.

Great tutorial! Thank you

Perfect timing, I've struggled with this and am doing a market Sun. Thank you, thank you, thank you for sharing your wisdom. Love your hair!!!

Thank you so much for explaining everything in detail.💖

You gave me lots of information, thanks, Mary

Thank you this was very helpful.

Thank you for your time and explanation of your formula, Kellie. I hope you have a wonderful day. I look forward to putting this to use for future endeavors.

THANKS KELLIE ! GREAT VIDEO, VERY EASY TO UNDERSTAND.

Very informative, Kellie! Thanks for sharing with us.

Thanks Kellie. I really appreciate the good info.

Fantastic video! Thank you 💕🌺

Thank you for this information. Awesome!!

Well done! Thanks for sharing your insights 🤗

Thank you!!! This helped me out a lot

thank you so much for sharing. Always struggled with this, and this helps so much. Thank you so much

Thanking you Kellie your wonderful x

This helped me quite a bit, thank you so much!

I just recently found your boutique and your KZread. Thank you for this helpful video.

This was very helpful, thank you!

Thank you, I needed this help!

Wow! This is actually very helpful. Thank you!

Thank you so much!! Very much appreciated! You helped so much understand pricing.

Thank you. Very informative.

Hi Kellie thank you so much for sharing your costing formula, it makes perfect sense and very easy to follow. I love your hair that way too, have a great week 💐Therese

Thank you so much for your wonderful information.

Definitely on time so happy I came across your channel and 🙂

Thank you. This was very informative

Thank you for your tips!!

Thank you ssooo much Kellie! I have been trying to determine prices for my jewelry. This is an income replacement strategy for me. I love your tutorials.

Really helpful information. Thanks! Love the haircut, too!

Thank you so much for sharing such a simple but informative pricing formula! I truly appreciate it and your channel and you! Love love love the new haircut. 😍

Great explanation on pricing Kellie! Thanks for sharing!