Business 1: Pricing!
The most realistic and accurate pricing is a dual approach.
First, the Formula:
The two most important things when figuring out a price for your jewelry are time spent and materials. As you are working on pieces, keep track of the time you spend on each piece. There are a variety of formulas out there, and formulas change for custom work versus production work. This is for production work.
A common price formula:
Labor= hours x rate
(Labor + materials) x 2 = wholesale price
Wholesale price x 1.5 or 2 = retail price.
Example:
A piece takes me 3 hours. I pay myself $35/hr.
Labor= 3 x 35 = $115
Materials = $4 in silver + $6 in pearls + $15 gemstone + $4 ear post/backs = $29
Wholesale price= (115 + 29) x 2 = $288
Retail price= $432 – 576
You can see the importance of your time in this equation. If the same piece took 2 hours to make, we’d be looking at a retail price of $297-396. That's a pretty big difference!
This formula is by no means set in stone. You can adjust your price so that you fit into the market. This does give you a good starting point for figuring out how much you need to make on a piece to make money.
Beginning jewelers working in stores usually make $10-15/hour.
Second, the research:
Look at comparable pieces in galleries, at shows, online. See what the market will bear for similar work. This gives you a good benchmark to measure your formula against and see if changes need to be made. When researching- look at what is handmade and what isn’t. What methods are they using/ What materials? Gold plate or vermeil versus gold is a big price difference.
Also, Another good question to ask is “How much would someone have to pay me for me to make this again?” This is where the “PITA” (pain in the ass) tax can factor. If you realize that a certain design is a royal pain to make, charge more! If it’s easier than you thought, you might be willing to take a little less.
After looking at both sets of numbers you should havea good idea of what to charge. Pricing is not an exact science, and it is likely you will make changes as you go. The important thing is to set the starting price as accurately as possible, and don’t sell your work too low.
While marking a piece up double and more may seem like a lot, it isn’t. The money from that markup covers business expenses such as materials, travel, bills, displays, office supplies, show fees, etc. After doing business for 6 months to a year, look at your expenses and what you are making off of each piece. You may see that the markup isn’t covering all of your costs and then you need to add more into the markup to cover what is called “overhead”. Overhead typically consists of rent, utilities, and monthly business expenses that occur.
One important thing to remember is that with the internet, information is available to all. I know some artists who in the past have raised prices for higher income areas (NYC, Miami) and lowered them for less affluent ones. With information easily accessible, this is harder to do nowadays as customers may find out they were charged a different amount based on where they live. This is a practice I don’t agree with, but it is another pricing tactic.
If you are being represented by galleries, it is important to make sure that the galleries know how much you sell your work for, so that they aren’t being undercut by you. I tell all my galleries that I do a straight “keystone” markup of the wholesale price. A keystone markup is when the retail price is double the wholesale price. This is the industry standard for retail prices. If the gallery chooses to mark it up higher, that’s fine, but this way they know what I retail it for as well.
Keep your prospective market in mind while figuring out preliminary costs. If your prices seem too high or low, figure out why. If they seem to low, raise them. If they seem too high: Can you reduce the amount of time spent? Can you reduce your materials cost? - find a new supplier that has better prices, buy findings in bulk, or lessen the amount of metal in the piece. If none of these will work, you may need to put that idea on the shelf until something changes.
Figuring out your time
Figuring out exactly how much time you spend on a piece is critical to pricing it. It is also one of the most difficult things to do because we multi task so much. If you are extremely organized, look at the clock every time you switch tasks or pieces and jot down the time spent on that piece. However, most of us will forget to do that. The method I have found that works pretty well is the following, and your homework assignment for all of your pieces throughout the semester.
Homework:
Every time you sit down to work, note your starting time, your ending time and what you worked on during that period. If you take a break, make a note of that too. Also note what you did during the period also.
Example:
10am-11:15am Filed, soldered, and sanded 5 pairs of leaf earrings. Made 8 waxes of leaf necklace and cleaned waxes up.
This way you can see over time how long pieces are taking you, and have an accurate accounting of your time for pricing purposes. Over time you will get faster as you get more comfortable and adept with the tools.
You will be responsible for keeping a log of your time throughout the semester. When you are working on a prototype, notate that also.
Tuesday, February 25, 2014
Lesson: Altering a Wax
Lesson 6: Altering a Wax
One way to add variety to your production pieces is to alter them in the wax form. When they are wax, you can resize rings, add texture to pieces, and connect parts together easier than in the metal.
Ways to alter the wax:
• Put in a texture!
• Carve grooves, add bumps!
• Drill pilot holes for stone settings
• Meld 2 pieces together to create a different piece.
To add texture: Use the burs, files, tools etc.
To connect elements together: Use a thin knife-style tip, slip between the parts you want to connect. Add additional wax to seal the seam. Remove any additional wax.
To size a ring larger:
• Cut with an Xacto knife along the back of the ring or at a good breaking point in the pattern.
• Slide the wax onto a steel ring mandrel to the correct size. Melt extra wax into the gap.
• File and sand the wax to match rest of ring.
• If necessary, redo any patterns.
• If the gap is wide enough, or the ring has an all around pattern, it may be easiest to cut a piece out of a second wax that is the correct size to fit the gap and melt the edges together with hot wax tool.
To size a ring smaller:
• Cut with an Xacto knife along the back of the ring or at a good breaking point in the pattern.
• Slide the wax onto a steel ring mandrel to the correct size.
• Hold the wax tight around the mandrel. The ends of the wax should be overlapping.
• Use the Xacto to cut away the overlapping area.
• Melt the ends of the wax together.
• If necessary, add in extra wax.
• File and sand to match the rest of the ring.
• Redo any patterns that got melted.
One way to add variety to your production pieces is to alter them in the wax form. When they are wax, you can resize rings, add texture to pieces, and connect parts together easier than in the metal.
Ways to alter the wax:
• Put in a texture!
• Carve grooves, add bumps!
• Drill pilot holes for stone settings
• Meld 2 pieces together to create a different piece.
To add texture: Use the burs, files, tools etc.
To connect elements together: Use a thin knife-style tip, slip between the parts you want to connect. Add additional wax to seal the seam. Remove any additional wax.
To size a ring larger:
• Cut with an Xacto knife along the back of the ring or at a good breaking point in the pattern.
• Slide the wax onto a steel ring mandrel to the correct size. Melt extra wax into the gap.
• File and sand the wax to match rest of ring.
• If necessary, redo any patterns.
• If the gap is wide enough, or the ring has an all around pattern, it may be easiest to cut a piece out of a second wax that is the correct size to fit the gap and melt the edges together with hot wax tool.
To size a ring smaller:
• Cut with an Xacto knife along the back of the ring or at a good breaking point in the pattern.
• Slide the wax onto a steel ring mandrel to the correct size.
• Hold the wax tight around the mandrel. The ends of the wax should be overlapping.
• Use the Xacto to cut away the overlapping area.
• Melt the ends of the wax together.
• If necessary, add in extra wax.
• File and sand to match the rest of the ring.
• Redo any patterns that got melted.
Lesson: Injecting a Mold
Lesson: Injecting a Mold
• Turn on wax injector, let it heat up.
• Make sure that the temperature dial is pointing to the black band.
• Check that air hose is connected.
• To connect air hose:
• Pull down on brass collet.
• Push end of hose up against fitting on injector.
• Release the collet.
• If the hose is on properly, releasing the collet will lock it in place.
• If it is not on properly, it will detach immediately. Repeat above steps and push harder when fitting onto injector.
• Once indicator light is not constantly on, the wax should be molten. Adjust the pressure to be between 5-10psi.
• Adjust the pressure by twisting knob to the right for more pressure.
• If the pressure is too high, twist knob to the left, then pull up on brass ring on the top of the injector. The ring releases and resets the pressure inside the injector.
• Make sure dish/non-stick foil is under wax injector spout.
• Place aluminum plates on top and bottom of mold.
• Have mold opening just at or slightly beyond edge of plates.
• Hold plates and mold tightly.
• Press against injector nozzle.
• Pull away.
• This injector works very quickly. You do not need to hold the mold against the nozzle- it takes less than a second to inject.
• The wax is hot! It is molten at approx. 165 degrees. Please be careful!
• Let mold cool approx. 30sec-1min. The mold should be cool to the touch, and the button of wax at the end of the mold should be opaque.
• Open up and gently pull out wax.
• Repeat.
• If you are the last one here- make sure to turn injector off!!!
Opening and Closing the Wax Injector:
• Disconnect the air hose, and release the pressure in the injector.
• Using the welding gloves, loosen the 2 top screws.
• Push the lid back.
• Close be returning lid to original position.
• Tighten screws.
• Reconnect the air hose. The pressure will automatically reset once the hose is connected.
Troubleshooting:
• My mold isn’t filling completely: Hold mold against injector a bit longer. Make sure you are holding the mold straight, not tilted up or down.
• My wax is sticking to the mold: Brush a light coat of talc on both sides of mold, making sure to get into all crevices. Or spray Mold Release on both sides of mold. Do not aim mold release up or at another person. Do not use near flame or hot objects. Use your face mask with mold release spray as it is an aerosol.
• The wax is going everywhere: Hold mold tighter between plates. Press against nozzle for less time.
• The injector is making a spluttering noise when I inject a wax: Open the top lid and check the wax. If the level seems low (less than ½ full) add more wax. If you see a solid chunk of wax upon opening the lid, wait a bit longer- the wax is still heating up.
• Turn on wax injector, let it heat up.
• Make sure that the temperature dial is pointing to the black band.
• Check that air hose is connected.
• To connect air hose:
• Pull down on brass collet.
• Push end of hose up against fitting on injector.
• Release the collet.
• If the hose is on properly, releasing the collet will lock it in place.
• If it is not on properly, it will detach immediately. Repeat above steps and push harder when fitting onto injector.
• Once indicator light is not constantly on, the wax should be molten. Adjust the pressure to be between 5-10psi.
• Adjust the pressure by twisting knob to the right for more pressure.
• If the pressure is too high, twist knob to the left, then pull up on brass ring on the top of the injector. The ring releases and resets the pressure inside the injector.
• Make sure dish/non-stick foil is under wax injector spout.
• Place aluminum plates on top and bottom of mold.
• Have mold opening just at or slightly beyond edge of plates.
• Hold plates and mold tightly.
• Press against injector nozzle.
• Pull away.
• This injector works very quickly. You do not need to hold the mold against the nozzle- it takes less than a second to inject.
• The wax is hot! It is molten at approx. 165 degrees. Please be careful!
• Let mold cool approx. 30sec-1min. The mold should be cool to the touch, and the button of wax at the end of the mold should be opaque.
• Open up and gently pull out wax.
• Repeat.
• If you are the last one here- make sure to turn injector off!!!
Opening and Closing the Wax Injector:
• Disconnect the air hose, and release the pressure in the injector.
• Using the welding gloves, loosen the 2 top screws.
• Push the lid back.
• Close be returning lid to original position.
• Tighten screws.
• Reconnect the air hose. The pressure will automatically reset once the hose is connected.
Troubleshooting:
• My mold isn’t filling completely: Hold mold against injector a bit longer. Make sure you are holding the mold straight, not tilted up or down.
• My wax is sticking to the mold: Brush a light coat of talc on both sides of mold, making sure to get into all crevices. Or spray Mold Release on both sides of mold. Do not aim mold release up or at another person. Do not use near flame or hot objects. Use your face mask with mold release spray as it is an aerosol.
• The wax is going everywhere: Hold mold tighter between plates. Press against nozzle for less time.
• The injector is making a spluttering noise when I inject a wax: Open the top lid and check the wax. If the level seems low (less than ½ full) add more wax. If you see a solid chunk of wax upon opening the lid, wait a bit longer- the wax is still heating up.
Wednesday, February 19, 2014
Lesson: Mold Making
Lesson 2: Mold Making
Mold Overview
Molds can be used to create multiple casting of one original piece. There are several types of molds. Most industry made jewelry molds are vulcanized rubber molds. Rubber is put under both heat and pressure until it hardens, yet retains its flexibility. This process helps increase the life of the mold. Vulcanized rubber molds last a long time. However, these molds are unsuitable for molding anything that cannot take heat or pressure.
For molding items that are heat or pressure sensitive, RTV (room temperature vulcanizing) molds are the best option. RTV molds can be either silicone or polyurethane plastic. Depending on the mold material, these also have a long life, and require less equipment to produce. Alginate and brushable latex can also be used to create molds.
Standard molds are comprised of 2 halves. The halves fit into each other snugly with out movement. Brass “buttons” can be used to register the halves, or tabs cut into the mold. These are called “closed” or 2-part molds.
Depending on the original, you can also make an “open” or 1 part mold. These molds are easier to produce since they don’t require cutting or separating the mold, but can only be used on pieces that doesn’t have a lot of undercutting.
In order to create multiples of a piece, the mold is injected with molten wax, creating a wax version of the piece. Multiple waxes are created, and then each wax is cast.
A wax injector is used to shoot the wax into the mold. Simply pouring the wax into the mold will not get a full impression of the piece. The wax cools too quickly for that. By using compressed air to get force behind the wax as it comes out of the injector, you can be assured of complete waxes.
Open molds can be filled by pouring wax into them.
Both molds can be used for casting other materials than wax.
RTV Molds:
• Read the instructions for the compounds. RTV Molds are usually comprised of a Part A and a Part B (activator or catalyst). You need to check to see whether the molds need to be vacuumed during mixing and what the mixing ratio is.
• Make sure that your mold frame is clean, and spray with mold release.
• If making an injector mold, attach sprue and funnel to original.
• Spray original with mold release.
• Arrange original in the mold frame. Check that orginal is placed so that it is only touching the frame at the designated opening.
• Mix mold compound. Wear gloves. Measure very carefully and stir completely and thoroughly.
• Pour compound smoothly, slowly, and evenly into frame.
• Let mold cure.
• Once cured, remove mold from frame. Thin flexible spatulas can assist in this.
• If a 2 part mold, separate and cut apart.
• Trim any excess from the mold.
• Your RTV mold is ready to use!
Mold Overview
Molds can be used to create multiple casting of one original piece. There are several types of molds. Most industry made jewelry molds are vulcanized rubber molds. Rubber is put under both heat and pressure until it hardens, yet retains its flexibility. This process helps increase the life of the mold. Vulcanized rubber molds last a long time. However, these molds are unsuitable for molding anything that cannot take heat or pressure.
For molding items that are heat or pressure sensitive, RTV (room temperature vulcanizing) molds are the best option. RTV molds can be either silicone or polyurethane plastic. Depending on the mold material, these also have a long life, and require less equipment to produce. Alginate and brushable latex can also be used to create molds.
Standard molds are comprised of 2 halves. The halves fit into each other snugly with out movement. Brass “buttons” can be used to register the halves, or tabs cut into the mold. These are called “closed” or 2-part molds.
Depending on the original, you can also make an “open” or 1 part mold. These molds are easier to produce since they don’t require cutting or separating the mold, but can only be used on pieces that doesn’t have a lot of undercutting.
In order to create multiples of a piece, the mold is injected with molten wax, creating a wax version of the piece. Multiple waxes are created, and then each wax is cast.
A wax injector is used to shoot the wax into the mold. Simply pouring the wax into the mold will not get a full impression of the piece. The wax cools too quickly for that. By using compressed air to get force behind the wax as it comes out of the injector, you can be assured of complete waxes.
Open molds can be filled by pouring wax into them.
Both molds can be used for casting other materials than wax.
RTV Molds:
• Read the instructions for the compounds. RTV Molds are usually comprised of a Part A and a Part B (activator or catalyst). You need to check to see whether the molds need to be vacuumed during mixing and what the mixing ratio is.
• Make sure that your mold frame is clean, and spray with mold release.
• If making an injector mold, attach sprue and funnel to original.
• Spray original with mold release.
• Arrange original in the mold frame. Check that orginal is placed so that it is only touching the frame at the designated opening.
• Mix mold compound. Wear gloves. Measure very carefully and stir completely and thoroughly.
• Pour compound smoothly, slowly, and evenly into frame.
• Let mold cure.
• Once cured, remove mold from frame. Thin flexible spatulas can assist in this.
• If a 2 part mold, separate and cut apart.
• Trim any excess from the mold.
• Your RTV mold is ready to use!
Wednesday, February 12, 2014
Business: Efficiency- Less time, more money
Business 2: Efficiency-More Money, Less Work
In production, you are looking to streamline your making process. The goal is to eliminate as much down time as possible and to make the most out of each hour in the studio. Since time is money, thinking ahead and save you time, and increase your profits.
Tips:
Are there elements like jump rings, holes for stone settings, bails, or tubes for settings or hinges that you can include on your prototype and have molded, do so. Think in terms of time- it may take 2 minutes to solder a jump ring on, but 10 seconds to clip it off. In that case, have the mold made with the jump ring. Overall it saves you time.
Make sure your prototype is well finished. Any scratches or dents will be in every single piece, adding time.
Work on a task with an array of pieces. Solder a bunch of things in one session rather than going back and forth to the soldering area. Spend concentrated time on the flexshaft or with files. Get a bunch of pieces ready to patina or stone set and then do all of them at once. By working in this way, you will become more efficient at each set of tasks, reducing time.
Also, work smart and set yourself apart. What you can sell your piece for is not simply a product of the pricing formulas. You are also subject to the fancy and whims of the overall market and the perception of worth.
There are several ways that you can increase the perceived value of your work without spending a great deal of time or money.
• First of all, you can make such original designs that there isn’t anything out there like you! This is easier said than done, additionally you won’t know if you have succeeded until you get out there.
• If you are using a specialized technique or skill that is time consuming, educate your customers. Tell people through signs and in discussion. Practice a “cocktail party” version of the skill that makes the piece so great. Be able to clearly describe the technique in laymen’s terms in 30 seconds to a minute.
• Add value through additions. Gemstones/pearls are an excellent example of this. Patinas are another great example.
• Do the extra little things that you can point to. Make your own clasps, and make them distinctive. Use unusual cuts of stones. Finish the backs of pieces in a distinctive way. Pierce the walls or undersides of bezels.
• Use gold accents or bimetal instead of gold. This gives the looks of gold without the gold price.
• Stress anything unique about the piece. If you made a couple of a particular item and decided you don’t like it, it’s a limited edition!
In production, you are looking to streamline your making process. The goal is to eliminate as much down time as possible and to make the most out of each hour in the studio. Since time is money, thinking ahead and save you time, and increase your profits.
Tips:
Are there elements like jump rings, holes for stone settings, bails, or tubes for settings or hinges that you can include on your prototype and have molded, do so. Think in terms of time- it may take 2 minutes to solder a jump ring on, but 10 seconds to clip it off. In that case, have the mold made with the jump ring. Overall it saves you time.
Make sure your prototype is well finished. Any scratches or dents will be in every single piece, adding time.
Work on a task with an array of pieces. Solder a bunch of things in one session rather than going back and forth to the soldering area. Spend concentrated time on the flexshaft or with files. Get a bunch of pieces ready to patina or stone set and then do all of them at once. By working in this way, you will become more efficient at each set of tasks, reducing time.
Also, work smart and set yourself apart. What you can sell your piece for is not simply a product of the pricing formulas. You are also subject to the fancy and whims of the overall market and the perception of worth.
There are several ways that you can increase the perceived value of your work without spending a great deal of time or money.
• First of all, you can make such original designs that there isn’t anything out there like you! This is easier said than done, additionally you won’t know if you have succeeded until you get out there.
• If you are using a specialized technique or skill that is time consuming, educate your customers. Tell people through signs and in discussion. Practice a “cocktail party” version of the skill that makes the piece so great. Be able to clearly describe the technique in laymen’s terms in 30 seconds to a minute.
• Add value through additions. Gemstones/pearls are an excellent example of this. Patinas are another great example.
• Do the extra little things that you can point to. Make your own clasps, and make them distinctive. Use unusual cuts of stones. Finish the backs of pieces in a distinctive way. Pierce the walls or undersides of bezels.
• Use gold accents or bimetal instead of gold. This gives the looks of gold without the gold price.
• Stress anything unique about the piece. If you made a couple of a particular item and decided you don’t like it, it’s a limited edition!
Monday, February 3, 2014
Syllabus
Production Jewelry
Design
MICA- Jewelry Department
Spring 2014
Jenn Parnell, Instructor
Course Description
In
order to be successful in today's market, artists must also be entrepreneurs
and small-business people. This class explores the practical world of making a
living as a contemporary jeweler while gaining financial success. The focus of
this class is on the design, production, marketing and pricing of your work.
Included are techniques for: one-of-a-kind to mass production, fabrication,
consistent quality finishes, use of findings and presentation from inception to
completion. Geared to anyone interested in making a living as an artist, this
class will satisfy the needs of the novice as well as the professional. Some
jewelry making experience is helpful but not required.
Requirements
Attendance is a must. A lot of information will be covered in
class. You will be held responsible for
all materials covered.
Demonstrations will usually
be held in the beginning of class, therefore, please be on time.
Completed projects and all
technical exercises must be completed on time and turned in at the end of the
semester.
You will be responsible for
discussing your work and participating in all class discussions and critiques.
Unexcused absences will
negatively impact your grade. 3 unexcused absences is an automatic failure of
the course.
Week 1- January 28
- Introductions
- Studio Tour- introduction to the equipment, basic
safety for the machinery, shop protocol
- Discussion: Production Jewelry- what does that mean?
- Introduction of Projects
- Discussion: How to reproduce your pieces? Methods
and materials
- Lesson 1: Prototyping
- Homework: 2-3 paragraphs on where you want to go
with your jewelry and how production fits into that. Talk about your
future career goals, financial goals, and artistic goals.
- Homework: Sketches and rough maquettes for
project- steps 1 and 2 of prototyping
Week 2- February 4
- Drawings for projects due
- Discuss designs
- Business 1: Time Management
- Business 2: Efficiency- More Money, Less Work
- Homework: Refine design prototypes- step 3 of
prototyping
- Homework: Lay out line- pieces, intended price
points, thoughts on production methods and supplies needed.
Week 3- February 11
- Work time
- Lesson 2: Mold Making
- Homework: Work on final prototypes
Week 4- February 18
- Work time
- Homework: Make a mold
Week 5- February 25
- Business 3: Pricing
- Lesson 3: Earring Findings
- Lesson 4: Working with Castings- Soldering,
Cleaning, Finishing
Week 6- March 4
- Lesson 5: Commercial Stone Settings
- Lesson 6: Altering a Wax/ Injecting a Mold
- Business 4: Logo, Image, and Brand
- Homework: Create 5-10 logo ideas.
Week 7- March 11
- Discussion: What role can production play for
you?
- For outsourced casting, waxes should ship this
week.
- Lesson 7: Other Findings
- Homework: Final logo
No Class March 18
Week 8- March 25
- Work time
- Business 5: Marketing Basics
- Homework: Write a draft of your resume, artist
statement, and bio
- Homework: 5 ideas for business cards
Week 9- April 1
- Business 6: Photography
- Discussion: Variations and Expanding a Line
- Lesson 8: Working with Commercial Chains
- Last day to ship any outsourcing
Week 10- April 8
- Work time
- Lesson 9: Resizing and Reworking
- Homework: Final resume, statement, and bio.
- Homework: Final business card design
Week 11- April 15
- Work time
- Business 7: Resources
Week 12- April 22
- Work time
- Business 8: Avenues for your work
- Homework: Research avenues of interest to you and
apply to 2 opportunities.
Week 13- April 29
- Work time
Week 14- May 6
- Everything due!
- Individual Critiques
- Fill out reviews, discuss class
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