How do I calculate a fair price for handmade jewelry?

A common formula is: (Materials + Labor + Overhead) × Markup = Retail Price. This calculator lets you enter each cost, choose your desired profit margin or markup, and instantly see suggested retail and wholesale prices.

What labor rate should I use for jewelry making?

Your labor rate should at least match a reasonable hourly wage in your area and reflect your skill level. Many jewelry makers start between $15–$30 per hour and adjust as their expertise and demand grow.

How do I price jewelry for wholesale vs retail?

Wholesale prices are typically 40–60% of your retail price. This calculator shows both: you can set your target retail markup and a separate wholesale discount, so you can see if your margins are still sustainable.

How do I include overhead costs in my jewelry price?

Overhead includes studio rent, tools, software, packaging, marketing, and other business expenses. You can either estimate a flat overhead cost per piece or use the overhead percentage field to apply a percentage on top of materials and labor.

How do I convert gold karat and weight into material cost?

Use the metal helper: enter the spot price per gram for pure 24k gold, choose the karat you are using (e.g., 14k), and enter the weight of your piece. The calculator converts this into an estimated material cost for the gold content.

Jewelry Making Calculator

Price your handmade jewelry in minutes. Factor materials, labor, overhead, profit margin, and see suggested retail and wholesale prices.

1. Materials

Total materials cost

Beads, findings, wire, chain, gemstones, metal, packaging, etc.

Extra materials / wastage (optional)

Scrap, test pieces, misprints, etc.

2. Labor

Hourly labor rate

$ /hr

Time spent on this piece

hours

Include design, making, finishing, and admin time.

3. Overhead

Overhead per piece (optional)

Studio rent, tools, utilities, website, etc.

Overhead as % of (materials + labor)

Use either fixed overhead, percentage, or both.

4. Markup & Wholesale

Markup method

Retail markup multiplier

2×–4× is common for handmade jewelry.

Wholesale discount from retail

50% discount means wholesale is half of retail.

Cost breakdown

Your actual cost to make this piece.

Materials: $0.00
Labor: $0.00
Overhead: $0.00
Total cost: $0.00

Suggested retail price

What to charge customers directly.

$0.00

Profit: $0.00 (0.0% margin)

Suggested wholesale price

For boutiques, galleries, or resellers.

$0.00

Profit: $0.00 (0.0% margin)

Metal Karat Cost Helper

Estimate the cost of gold or other precious metal in your piece. You can then add this value to your materials cost above.

Metal type

Spot price per gram (pure metal)

Use current market price for 24k (pure) metal.

Karat / purity

Weight of metal in piece

Use grams or troy ounces.

Metal cost estimate

$0.00

This is an estimate based on spot price and purity. Include refining fees, supplier markups, and scrap loss separately if needed.

How to use the jewelry making calculator

This jewelry making calculator is designed for handmade jewelry artists, Etsy sellers, and small brands who want a clear, repeatable pricing formula. It combines materials, labor, overhead, and your desired profit to suggest sustainable retail and wholesale prices.

1. Add your materials

In the Materials section, enter the total cost of all components used in the piece:

Beads, gemstones, cabochons
Wire, chain, sheet metal, solder
Findings (clasps, jump rings, ear wires, bails)
Resin, glue, patina, finishing supplies
Packaging specific to this piece (box, pouch, card)

Use the Extra materials / wastage field to cover scrap, test pieces, or misprints that are part of your process.

2. Set a realistic labor rate

Your time is a major part of your cost. In the Labor section:

Choose an hourly rate that reflects your skill and local wages.
Estimate the total hours spent on this piece, including design, making, finishing, photography, and listing.

The calculator multiplies hourly rate × hours to get your labor cost.

3. Include overhead

Overhead are the costs of running your jewelry business that are not tied to a single piece:

Studio rent, utilities, insurance
Tools and equipment (pliers, torches, tumblers, kilns)
Website, Etsy fees, marketing, software

You can either:

Enter a fixed overhead per piece, or
Use an overhead percentage on top of materials + labor (e.g. 10–20%).

4. Choose markup or margin

There are two common ways to set your price:

Markup method

Retail price = Total cost × Markup multiplier

Margin method

Margin (%) = Profit ÷ Retail price × 100

Retail price = Total cost ÷ (1 − Margin)

Many jewelry makers use a markup of 2×–4× their total cost, depending on niche, brand, and sales channel.

5. Wholesale vs retail pricing

Boutiques and galleries usually expect a wholesale price that allows them to double the price for retail. A common rule is:

Wholesale price ≈ 50–60% of retail price

Use the Wholesale discount field to set how much lower wholesale should be than retail. The calculator will show your profit and margin at both price levels.

Metal karat cost formulas

When working with gold or other precious metals, it helps to convert spot price and karat into a cost per gram for your alloy.

Purity fraction for gold karat:

$ \text{Purity} = \dfrac{\text{Karat}}{24} $

Alloy price per gram:

$ \text{Alloy price} = \text{Spot price (24k)} \times \text{Purity} $

Metal cost:

$ \text{Metal cost} = \text{Alloy price per gram} \times \text{Weight (g)} $

The metal helper in this calculator performs these steps for you and supports grams or troy ounces.

Example: Pricing a handmade silver necklace

Suppose you make a sterling silver necklace with these numbers:

Materials: $18.00 (silver chain, clasp, jump rings, gemstone)
Extra materials / wastage: $2.00
Hourly rate: $25.00
Time spent: 1.5 hours
Overhead per piece: $3.00
Overhead %: 10%
Markup multiplier: 2.5×
Wholesale discount: 50%

The calculator will compute approximately:

Materials total = $20.00
Labor = $37.50
Overhead = $3.00 + 10% of (20 + 37.5) ≈ $9.75
Total cost ≈ $67.25
Retail price ≈ $168.13 (2.5×)
Wholesale price ≈ $84.06 (50% discount)

You can then decide if these prices fit your market and adjust your markup, labor rate, or overhead assumptions.

FAQ

Is there a “right” formula for jewelry pricing?

There is no single formula that fits every jewelry business. However, consistently including materials + labor + overhead + profit will keep you from underpricing. This tool lets you experiment with different markups and margins while always showing your underlying cost.

How often should I update my prices?

Update your prices whenever your material costs, labor rate, or overhead change significantly, or at least once or twice a year. Precious metal prices can move quickly, so check your gold and silver costs regularly.

Can I use this for resin, polymer clay, or beaded jewelry?

Yes. The calculator is material-agnostic: simply enter the total cost of your components and supplies, your time, and your desired profit. You can also use the metal helper for pieces that mix metals with other materials.