How a handmade is priced says a lot about the crafter about how they value their work. The cost of materials, the time spent painstakingly putting it all together with the countless communication with the buyer are all part of a crafter's considerations when it's time to price an item.
I, for one, totally dig my work but when it comes to pricing, "time" is probably the only factor that is difficult for me to measure into dollars.
There have always been a burning question for me by friends and acquaintances on why I don't charge higher rates for my handmades. I believe there is no single formula or technique that will give a range of how an item needs to be priced. Sometimes if its a straight forward creation, I do not even factor the time I take to make it. While some creations were given more time investment thus will be priced accordingly to it's value.
My shop's slogan portrays "chic lifestyle jewelries" which is highly reflective in my creations. To me, affordability is key. There will be some crafters who price their creations sky high also because of hidden costs like domain spaces, advertising, checkout carts and high end packaging. Perhaps it is one of my reasons that I can keep my prices affordable - because I have minimal hidden costs.
There will always be buyers that think I am charging too high and those who will say otherwise. Ultimately, I feel that enjoying what I do and fulfilling my personal satisfaction matters more. Making huge profits have never been part of the plan on why I started this creative journey. And I don't think it will be a factor for a long time to come.
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