I have had the desire to write about this subject for some time now and I believe that the more informed the consumer is, the more they understand where their money is going.
The beauty of buying handmade is that you should feel as though you know where and from whom you are purchasing. This allows you to have a personal connection with the artist. It also allows you to know that every time you use/wear your item you do so with a sense of pride. You supported an artist...not a retail chain...you are getting a piece of that person with whatever you buy because, at least for my creations, I put my heart, time and creativity...a piece of myself...in everything I make.
I have a necklace that I paid a substantially for because I knew it was worth every penny. I bought it late spring last year and I wear it every chance I get. Yes, I bought a necklace from a fellow artisan. I am not quite capable of creating certain pieces myself, so I find other artists to support. I am glad to have the opportunity to not only support them in their endeavors, but I know the value of jewelry items that are hand made and am happy to make the investment.
I know my local patrons that have purchased from me for years fully realize where their money is going and because of the quality of my pieces, each will last them a lifetime. The on line world, however, is an entirely different story. Although there are people who understand jewelry pricing and quality, it is a subject that can always be visited.
My pricing logic:
I know that I need to be careful not too undercut my fellow artisans. I also need to consider my client base on top of making some kind of profit. All that considered, somewhere in that group, I determine the most fair price I can for each creation.
Time:
For example...the Illyria bracelet...
There are nearly 150 head pins on this bracelet. I made each pin using fine silver wire and a small torch. After making the pins, I look through my gem collection and select my color palette. Upon selecting the color palette, the stones are gathered and the wrapping begins. When I first put this bracelet together, I had a different focal...it was a large Tahitian pearl...there was something off about this combination. I remembered that I had three pink tourmaline nuggets. Eureka! Now imagine taking all of those wrapped beads off the bracelet to replace the focal. The time investment for this bracelet is approx. 10 hours. Now think about what you make an hour...also think about weather you would want compensation for your own time if you committed to a project. Is your time just as valuable as mine or other independent artists? You also need to consider the efforts made to locate components. It takes additional time to search for stones and other supplies. Relationships have to be forged with suppliers in order to secure quality beads and supplies. As much as I would love for them all to magically appear when a design appears in my head, that is never the case.
There are various formulas to calculate the cost of a piece based upon hours invested and materials. I can tell you right now, at the listed price, this bracelet is a steal...when it comes to the more costly designs, I struggle with my prices.
The huge focal...genuine pink tourmaline (a costly stone). I paid a pretty penny for this stone when I purchased it a few years ago. Nearly 150 gemstones...wrapped on nearly 150 fine silver head pins...that took about 9 hours to create and wrap...plus the gorgeous pink amethyst ovals and the pink quartz cubes...all the flawless stones that make up the fringe...rose quartz, berry and cherry garnets...more pink quartz.
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I do not purchase any of my supplies at craft stores. It is a priority for me that I support other artisans with my supply purchases. For instance, all of my wire is purchased from a small company in New Orleans. I have bought my wire from them for several years now and I continue to frequent their new Etsy shop. I believe that as an artist who creates with wire, I should support a fellow small business. I don't believe in spending my money any where else unless there is no other option. I utilize a few local retail (bead) establishments on occasion, but only when the deal is good enough to warrant. I strive to be forthcoming in my work. I am always open to questions about my process, components and the final creation.
Stay tuned for Part 2...what are you worth?...and know what you are buying!
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