How to Easily Price Handmade Jewelry and Make a PROFIT!
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- เผยแพร่เมื่อ 26 ก.ย. 2024
- Kellie with Kellie's Bead Boutique will teach you how to use her tried and true method of jewelry pricing. It will not only make it easier for you but will allow you to make PROFIT!
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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 :)
Awesome! Thank you for watching. ❤️
Wow!..I think the hardest part of jewelry business is the pricing of Handmade jewelry. Now I gotta go and change my pricing in my Etsy shop and poshmark 🤦🏽♀️. Thank you Sooooo much👍🏼❤
Hello ladies
I do not think is good to change price!!!
The best way to do it is let the old price so and put new one at the good price now.
Because it can scar cliënt away.
Some will not trust you anymore.
When it sell out you put new price but making it with some new beads and style.
I rewatch this almost monthly...to remind myself how important it is NOT TO UNDERVALUE MY TIME OR NY CRAFT!!! THANK YOU KELLIE!!!
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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.
PS~
Otherwise, I'm using your method of pricing. Thanks again!
I’m glad I could help a bit. Pricing is tricky but as long as you are making money use whatever works for you. ❤️
Wow What a great idea! I never would have thought to take it to a jeweler. Did you sell that piece?
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!
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.
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
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 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!
Awesome!
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.
I’m glad you found it helpful. 😀
That's great to know, TOO! THANKS!💖
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 really appreciated this vid! this gave me a lot of confidence in pricing my pieces.
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.
Than makes TWO of us! Been beading 15 yrs!
Thank you so much. I am new to making jewelry. I am taking my time to get better at my craft and then within a year I wanna start my own jewelry business. I never thought about labor costs much less how much to charge for my time. As well as retail and wholesale costs. Your formula sounds easy to follow. 😊
Fabulous! Good luck with your business.
Such terrific information. I would not have thought to do what you did. Thank you Kellie for sharing this with us, GREATLY appreciated.
Wonderful video
So blessed❤ i loved so much❤
Evryone do it on their own way but it is the first time that i loved completly how someone told it that i say this is it for me right now.
Love your whole proces that is good for pricing.
Its not about only the price but a lot more then that only.
Good organisation is also the best for pricing.
Thank you so much for your time art and wisdom.❤❤
Glad you enjoyed it!
Thank you. This was right on time. Like the new haircut, too!
Perfect! Thanks so much. ❤️
@@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?
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.
@@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. ❣️
@@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. 😀
Thanks a million. You make pricing easy. Many of times we forget to add the littlest items bought plus labor is essential to add as part of jewelry pricing. Thank you so very much for this video.
Glad it was helpful!
Thank you soooooo much for sharing this, just getting ready to open my retail jewelry business & this just confirmed my pricing. God Bless🌸Alicia
Awesome! I’m so glad it helps.
Oh my gosh, this is one of the best videos on how to price jewelry--especially loved that you began with knowing our worth as women. Thank you so much for making this video. I've subscribed and am so stoked to watch more of your stuff.
You are so welcome!
This is great advice, thank you. And what a sassy haircut! Cute!
You make SO MUCH more sense than the people who throw together something and say "That should sell for---oh---$10.00. Make a LOT of those and you'll make tons of money.". I shop as carefully as possible but I don't buy junk (at least not intentionally, though once in a while beads or findings arrive that look like Target rejects). I've always felt my personal design and effort is worth more than something assembled in a machine shop, yet those people make me feel I'm being silly or greedy by asking a decent amount. Thanks for sharing your well-grounded knowledge!
Once we know our worth all that nonsense goes out the window. I left a high paying job to sell my jewelry so I wasn’t going to give it away. It did take some courage but once the money was rolling in I was more than fine with it! LOL
@@KelliesBeadBoutique MY HERO!!!!
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Perceived value. That’s the piece I was missing. Thank you!
Thank you for coming up with this formula.
I have been wondering how to price my pieces for when I am ready to launch my store. I was only thinking about the general price of supplies. I didn't even think about factoring in labor costs.
This video has been so helpful, and made me realize I was really about to under-price my items.
I’m glad it was helpful. Remember your worth. 💖
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.
I sell wholesale. It’s best done in an email. 😀
Thank you Kelly. I’ve just started making bridal veils and this info helps a LOT. As you know the bridal industry charges a fortune for even the simplest veils. This one that I made on my channel would have cost $1350 CDN in a bridal shop .
Oh wow! That is crazy. That was one of the first beaded projects I ever made - my own bridal headband. It was a fortune in the stores and I made it nicer and much cheaper. Good luck on your business!
Love the new hair cut!!! Thank you so much for this information. My friends and I have struggled with pricing.
Awesome! I’m so glad it helped.
You are so refreshing to listen too! You are very honest and open. I loved how you mention a truth that we women often forget we do, under value the work we do....
I have subscribed to your channel and will be looking forward to watching more of your videos!
Thank you so much, my fellow Canadian! ❤️
Thank you so much Paula! I appreciate you watching and subscribe. 🇨🇦🇨🇦🇨🇦
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.
Yes. 3 times works too to add in all the other little things you don’t recoup. 💕
What a valuable service to the jewelry making community. Thank you for this information.
It's my pleasure ❤️
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!
Great explanation on pricing Kellie! Thanks for sharing!
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?
Thanks Donna. That is one of the reasons I added that extra percentage on there for things like packaging etc.
Thank you Kellie for doing this video! The fact that you sold Wholesale to 80 shops makes me trust you know pricing!! A lot of sellers only charge a wholesale price for their retail so this was very valuable information as you can't have that kind of success and not be making a profit.
Thanks Marie! I appreciate that you trust and value my advice. I still have people telling me I’m wrong. It’s just what worked for me and helped me to make money. 😀
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. 😲
Thank you! I’m so glad it helped you out. Yes. Know your worth. 🥰🥰🥰
Thank you, thank you, thank you!! I wouldn’t have thought to count each bead, spacer, ear wires, etc to get a price. You have given great insight into pricing my pieces. ❤
Glad I could help!
Thank you Kellie, I always wondered how much should a quality work retail for.
I’m glad it helped. ❤️
Thank You, people always try to get over on me, I make Waistbeads, etc. But mostly waistbeads....and it's hard coming up with a price. Exactly for women size 50 and up. I used seed beads. Some cost more then others...your system has help me a lot. Thanks
Thank you Kellie, that was so helpful.
Thanks so much!
Thank you so much for this information. I've always been told that I don't charge enough for my handmade jewelry and your formula has confirmed that. Again, thank you for taking the time to share your knowledge.
You are so welcome! ❤️
Thank you! I appreciate the formula. Have a great day 😊
You are so welcome.
Just re-watched this video - thanks again. It's good for me to re-visit this now and then.
Thanks for watching again!
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
Standard cost to wholesale to retail..is cost ×2.5=wholesale multiplied by two =retail.
@@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 ❤️
THIS IS SO HELPFUL! Thank you I’m starting my own profit to sell at school!
You're so welcome!
CUTE new haircut!! You look lovely! Thanks much for your wonderful advice!
Thanks for watching!
You have no idea how long I’ve struggled with pricing. THANK YOU! Love your haircut♥️
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?
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.
@@KelliesBeadBoutique Thank you. Now to figure out a flat rate! 😄
I wonder how you’re doing now? I really admire that intricate wire work.
@@cherylj7460 I've morphed into metalsmithing now but still do wrapping and weaving on occasion and I STILL struggle with pricing!! 😅
@@rochellebg 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.
You are unbelievably organized. No wonder you are successful. Stay blessed.
😘😘😘
Thank you. I'm just getting started, and pricing had been a hangup for me!
Man, wish I’d of known this when I was trying to market my pieces! Thanks so much!
Your explanation was great. You made everything so clear and it was easy to understand. Much better than other others.
Glad it was helpful!
Best advise. I am just starting, thank you so much.
Awesome. So glad it helped.
Love all your videos! I hope this finds you well! Love you too, 💕💐😘
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!
Good luck! 🥰
I'm glad I found this because I have been thinking about selling my resin jewelry I make but, was unsure on what to charge . I am so worried that my asking price will be too high and people will kinda laugh and be like no way would I pay that much! So thank you for this video it helps a lot!
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This was so helpful because I was struggling. Now before my first vendor show,
Thank you for your formula Kellie. I didn't jknow to begin. I have been keeping track of the price per piece. This makes things so much easier.
You are ahead of the game already! I’m glad you started off right. Thank you for watching and comment. ❤️
That’s a great tip on coming up with prices. Thank you so much Kelly
Excellent video. I am glad I came across your video, and my husband is too...LOL! I was always guilty of underpricing my pieces. Thank you
New Subber! Thank you Kellie! Extremely important and valuable information. Someone was just sharing on FB today, that they were not making any money and there was also a comment about the current economy, or possibly asking too much for their area, etc. Yet, I see people on YT doing live streams, and advertising their shops on Etsy. I see the inventory, I see how much merchandise they buy from several suppliers, and they are staying quite busy. I don't know what to think about this, and I don't want to get my hopes up too high. I don't want this just as a hobby. I want it to supplement income. Very much appreciated this video.
Thanks for subbing! It is a tougher climate but I think you just have to keep at it and try new ideas. That’s what I’m doing in my own business. Keeping it fresh and tightening up my numbers to stay aligned with the economy. There is money out there. You just have to find your customers.
@@KelliesBeadBoutique 👍☘️
Thank you, down to earth and realistic advice 👍😊
This is the best breakdown for pricing I've gotten. Thank you so much!
You are so welcome!
This is so great. Thank you so much! I’m an expert knitter and friends and family often tell me I should sell what I make. But folks are accustomed to the prices set by major manufacturers who have “scale,” and who also underpay their textile employees in developing countries. For example, socks. Quality sock yarn is going to be at least $15/per pair (often MUCH more), and then, depending on the size or design, it could take five-ten hours or more to knit them. But no one I know will pay $200 for a pair of hand knit socks, even if they are literally the best socks you’ve ever put on your feet! I think knitting, as a craft, is just too labor-intensive to be monetized appropriately.
Very true. Some hobbies/skills are hard to monetize properly. I guess you have to love what you do and hope that if you sell it they will pay accordingly. Thanks for watching. ❤️
Good day
I just listened and watched this video of yours because 😂 I want to sell my handmade jewelry and don't know what to price it. Now I do know.
Thank you so much.
Erna from South Africa
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Thank you! I've always had trouble finding the right price to charge, especially since I'm just beginning to sell.
Wow!! Thank You! Excellent information! I have always wondered how people price their jewelry!
I so appreciate you and your channel!
❤️Jalyne in Utah
Thankyou Kelly! ⚘🌿🌹
Appreciate you sharing your pricing formula. Have always struggled with pricing until now! Have undervalued myself so many times even though I know I am worth it!'
Going forward I now have what I've always needed. Special thanks!
Thanks for watching! 😍😍
Thank you for this video. I have subscribed, and started my own jewelry business last year at age 71. I have two granddaughters to whom I will send your video.
Awesome! Thanks for watching and subscribing 🌸
Your hair looks AMAZING !!!!! I am only at 20 seconds into this video and I had to stop to write this to you....I LOVE IT !!!! Okay, now I will watch - I am not good enough to sell my stuff but they are going to make for incredible Christmas gifts for everyone - as I have been re-purposing my Mom's old jewelry and piecing other things together, I have a store in my house !!!!
Thanks Jenifer! I’m still getting used to styling it but I actually prefer it short. It was much cuter at the beginning of the video until I started sweating under all the hot lights! LOL
By the way I love watching your tutorials. I just came across your website a couple weeks ago. I can't stop watching, you're an inspiration. Thank you
Thank you, I appreciate your kindness. I struggle and stress about how much to charge. You are appreciated
Thank you! Don’t stress. Just have a formula and work from that. Good luck!
@@KelliesBeadBoutique ❤
Thank you Kellie! I am very organized and track my costs but not where I purchased everything. I now have a perfect formula for pricing! Thanks for the tips.
Thanks for watching!
ThankKellie....that is the best explanation of jewelry pricing I have ever seen!!! You rock, girl!
Thanks so much for the lovely compliment!
candy crawford I totally agree 😀
Thank you so much all of the information you have share with me because everything I have done and purchase has a huge financial price and I don’t charge as much and my mistake was giving some of my jewelry for free it hurt me but, after what I’ve learn today I think I definitely will charge a descendant amount... thank you Kellie for your advice
Thank you for taking your time to put together this video. I've always had a problem pricing my jewelry because I don't know what I am doing. Many of my older beads have never been priced, although I have changed that.
I have over 200 pieces of jewelry, mostly necklaces that are just sitting around our apartment. I was thinking about opening an Etsy shop but I'm not certain that that is the best way to go.
After five years, we just found out that we have to move so I have to start packing everything up. I won't let the mover pack up that stuff because last time my most valuable stuff was stolen. So my hubby and I will be doing that ourselves.
Thank you for listening to me and I look forward to seeing more of your videos.
Until next time,Merrill from the Beaded Flamingo by Merrill
I hope you find a way to sell them off! Maybe look at doing a farmers market type event instead of Etsy. Etsy seems to be a place to watch your hopes and dreams die. It used to be good but I hear nothing but bad lately.
Thank you so much for that. I have asked people before and they could not give me a answer.love your videos you do not get in a hurry and I can follow along.
Awesome! I worked really hard on this one. It took me 2 hours to film and 6 hours to edit! I wanted it to be just right. 😘
You are great and so sweet. I am 66 years old and trying to learn and I am very slow
Fabulous explanation!! Thanks!! You and Lisa LaFlamme are rocking new dos!! Love it.
Thanks Karen! I will have to see how hers looks!
Big thank you. Now, I found I sold under priced of my products. Gutted. But will start again. You are right, woman always involve their feeling and ended up like me,.
Don’t stress about what you used to do. Just know moving forward you will make more money. 😀
Thank you Kellie! I like watching your creative videos. This was informative, too!
Thanks so much Chris! ❤️❤️
I was so strained on this subject with my work, thank you so much!
Glad it was helpful!
Hi! Thanks so much! I started making bracelets to give as gifts and people have told me “you could sell these”. I have a table at a Christmas craft sale every year and struggled with what to charge. I have thought about visiting some of the salons in town but this stalled due to pricing. I keep a spreadsheet of all my purchases along with what each item cost to make. Didn’t keep track of time but that will be easy when I make more. Thanks so much as people are telling me I don’t charge enough…. Take care!
I’m so glad it was helpful. ❤️❤️❤️
Thank you for this! I just started out on making and selling jewellery. I'm encountering a problem of finding the right market. Most of those who want to buy think my jewellery is too expensive yet it is well priced and when I find the right people they buy at least two pairs or more
Thats sort of how it works. There will always be people on both sides of the fence. Just keep doing what you are doing.
@@KelliesBeadBoutique Thank you! You're such an inspiration!
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I just want to tell you I'm such a fan. All your pieces are amazing. I just recently started making jewelry as a hobby. My son was diagnosed last February with cancer. I spend a lot of time at the hospital and sitting around thinking to much isn't good. So I started messing around with jewelry . I made bracelets for the nurses that were good to my son. They always ask what I sell them for and I just thought they were being kind. But as I continue in my journey I seem to watch more and more of your videos. Your such an inspiration to anyone who wants to create jewelry. I just want to say thank you so much for inspiring me to continue with my passion. If you had one piece of advice what would it be?
Thank you so much for the kind words Amy. I hope your son is doing ok.
My best piece of advice is to develop your own style. The most successful designers are ones that have a definitive style. Make sure to have fun along the way too! ❤️
Thank you Kellie! I did retail before but I wasn't sure about what to charge wholesale. You are amazing!!!
You are so welcome!
This was so helpful. I’m happy you did both retail and wholesale because I need both
Awesome! Thanks for watching.
Thankyou for explaining what to charge. My Grand Daughter's are just now getting started, I will have them watch this video. God Bless you
You are so welcome!
Thank you so much I really appreciate it I am just getting started and I didn't know what to charge for my jewelry pieces so all the information I get is really appreciated thank you again 😊
❤ Thank you ...i truly needed to hear this ❤I will value my work from now 💖
Wonderful!
Thank you!!! I have definitely been underselling myself (or undervaluing). This formula makes SO MUCH sense!!! Thank you again!!!
I’m so glad it helped. 🎉🎉🎉
@@KelliesBeadBoutique Thank you again! I love watching your videos (I learned a lot of new tricks and styles and I love love LOVE all the Celtic knots! 😂). Love your new haircut too!!! I still can’t get in to see my hairstylist and I’m looking like a homeless person at this point
Ugh. I hope you can get it done soon so you can feel like your old self!
This is the best formula and explanation ever 😊
Thank you!
Glad it was helpful!
AWESOME , God Bless You Kellie's Bead Boutique
Thank you for the great information Kellie! And the new haircut is absolutely perfect on you!
Thanks so much Kristin!
THANKS KELLIE ! GREAT VIDEO, VERY EASY TO UNDERSTAND.
Thanks so much for making this video. I never knew how to figure an accurate price, but now I do thanks to you!!
I randomly found your video and thought it was very helpful. Thank you so much for breaking this down to be understand are. I have always been confused about this. ❤️ Have a great day and take care!
You are so welcome!
Wow! This was very helpful! I have been charging enough! Thank you so much!
Glad it helped!
Thank you so much. I love jewelry making and have mainly sold it on my own. Word of mouth from friends and family. Bead working keeps me same. I do sewing and alterations out of my home. It is why I have gray hair! I generally enjoy sewing, but alterations can get mundane. I have wonderful customers....And then there are the "crazies". People who believe if you can sew, you can do anything! Haha! Knowing how to price my sewing jobs and my jewelry has been an ongoing learning process. Not selling my self short and valuing my time and skills and getting paid accordingly has been helpful, not only to make a profit, but to boost my artistic self-worth. Good quality work is hard to come by these days in our throw away society.
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That you so much for your time to help us be successful in our venture...
Thank you for this I have been under valuing for a while and not giving myself an hourly rate now that I'm working with more fine material I have to consider all that
Thank you for the video, I am starting to sell some pieces and it’s great to have more information on how to price them.
Thanks Kellie! So helpful - much appreciated!
Thank you. Best regards from Poland.