I know there are formulas out there to help you calculate what to charge for your jewelry. Even though I know this, I rarely use them. Shame on me, I know. Because I should be charging more for my creations than I do. So often we hear at our shows "wow your prices are low!" which to the consumer is a good thing! Some have even told us we should raise them! I tend to look at pricing this way: "What would I personally be willing to pay for this particular item?" I know that's probably not the right way to do it. But I know how I think as a consumer, and I have my limits on what I will spend on clothes, jewelry, purses, etc. So I price my jewelry according to what I feel someone would be willing to pay for it. In my opinion I would rather price it to sell (and sell it) vs. keeping it in my inventory for a long time because no one is willing to pay for it.
Also, when I shop for beads I shop for bargains. I have limits on what I'm willing to pay for beads just like anything else. So while I can look at my item and know that it was, say, semi-precious gemstones (which have value in people's eyes) or freshwater pearls (which also have value more than glass pearls) I also know that I got the whole strand for maybe $6 or less, and I usually have beads left over depending on what I made. (I'm not the type of person to spend $25 on a strand of anything unless I'm absolutely in love with it.) So charging $30 for a necklace that cost me $6 to make seems like price gouging. Now I know this didn't figure my time, etc. into the equation….and other beaders would tell me I should be charging for that, but this has just become my jewelry pricing mentality and I guess for now I will stick with it.
That said……it's not a bad idea to check out a jewelry pricing formula or use a jewelry pricing calculator if you're first starting out, or want to get an idea of what different pricing scales would tell you to charge for your jewelry. So here are some resources I've found that can help you out with pricing your jewelry.
ARTICLES AND INFORMATION
Here is a nice article with information on coming up with your own personal jewelry pricing formula. Rena Klingenberg has very detailed information on her Home Jewelry Business website, and I've found the information she provides to be very valuable. Read her article, Jewelry Pricing Formula for some good info on pricing your jewelry and getting the right amount for it to cover your costs.
Here is another article from About.com related to pricing jewelry. Overhead and labor costs.
Wiki How Article on pricing jewelry.
Pricing Jewelry For Profits by Gloria-Jean Browne - another exceptional article on pricing jewelry, with a whole section of links to other articles related to your jewelry business.
JEWELRY PRICING SOFTWARE
Jewelry Pricing Calculator - This is a free program to download that will help you price your jewelry based on your sales goals. There is also an Excel spreadsheet version avaiable on the same page.
Eni Oken's Jewelry Pricing Calculator - $5 to download. This is an Excel-based spreadsheet.
Excel Jewelry Pricing Formula Calculator - $4.99 to download. The is also an Excel-based spreadsheet.
on iPhone, iPad, AppleTV, PC. It's free.