Pricing of product

[motherspearls]

I took some of my freshwater pearl jewellery to a craft sale this weekend and was approached by three separate crafters asking if I would consider entering in a nationally run artisan / crafter five day sale. I phoned the people who jury and run the show and have been invited to apply and have all but formally been accepted just based on the recommendations alone. It is not only for the large public winter show (there are four across Canada, I'd be applying the the one in Winnipeg, Manitoba) but also a closed to the public wholesaler meet the artist show in August, and another in summer 2006. How do you do you edo pricing of product? 6x the material cost or more? I don't even know if this is the right place to ask these questions.
Thanks
cheryl

 

[jshepherd]

Hi Cheryl,

It sounds like you are going to make this work! Congratulations on the show.

Regarding pricing of the pieces this is really difficult to say. I typically put a smaller percentage on the more expensive pieces. I also feel the less the mark up the higher the sales which expands the business with satisfied customers ultimately.

But if you create each piece yourself you need to calculate the time and effort as well as the cost of the materials.

If it is possible for you to visit these shows looking for companies that sell a similar product? This would be a good way to determine what you are up against. My office typically does this every year by visiting the JCK show.