Do you ever look around the internet and wonder why people pay the prices they do for the things they buy? Oh sure, cars and homes, computers and phones and other electronics are all expensive. Even the "cheap" ones aren't really what I would call cheap.
The other day I was browsing through Etsy and came across some crafted jewelry, so of course I go down that virtual aisle in the Etsy store. Some of the items were amazing and their prices were as well.
Take this ring for example, very nice and it has a pretty nice price, too. Still, it looks like it's worth it. Now I'm certainly not one to belittle a craftsman a proper price for their work. Supplies, time, overhead for a shop, planning and design. It all has a cost and when you're a small operation you can't offer the same pricing as a huge, impersonal conglomerate. I completely get it, I really do.
Now since I can't make a ring of this quality myself, I would certainly buy it if it were something I was looking to get as a gift for someone. If I were a jewelry-smith? No, I wouldn't buy it, because I would hope I could make one similar.
Imagine my surprise when I came across this necklace and saw the price. My first thought was "HOW MUCH?!?" Then I wondered if I could make one close to it and figure out how much it would actually cost.
So here's what I discovered:
- Yarn - $0 - would use scraps from other finished projects
- Chain - $0.04/inch - 32 inches used - $1.28 total
- Time - time = (material x 2) + $10/hour (my fee) - $12.56 total
- Overhead - $0 - I don't have an Etsy shop or storefront
- Planning and Design - $0
Oh, what did I make? Well, take a look!
Have a great week and remember - you can always make something comparable to a more expensive item and save a lot of money doing it.
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