Can you help me price this?

My sister has organized a benefit for our step sister for this Sunday at a local bar. It's going to be a great event with food, drinks, Bengals game will be on, live band later on, then her boyfriend will be DJ'ing, with lots of raffles and what not. I'm making spicy meatballs for my contribution to food part but she called me with the idea of making a jewelry set to raffle off as well.

We decided to go with the Bengals since many people go to that bar to watch them play. This is what I came up with. Problem is I don't have a clue as to how to put a price on anything. We only wanted to know for reference since it will be raffled off anyway but I have no idea how to do it really. So can you help suggest a "retail value" ?

All sterling findings, the clasp was about $5 on both pieces, the bengal head charm was $6 marked down from $10 at the LBS, the beads are orange cat's eye 4mm, and various hematite beads. The lampwork I got from Sherri and I think they were about $3.50 or $4 for the 5 beads I used. Please help me?????

http://www.flickr.com/photos/24483090@N02/4083752203/

http://www.flickr.com/photos/24483090@N02/4083752605/in/photostream/

For some reason I can't copy and paste from flickr except the small thumbnails in the main page. So I provided the links if you would like to look at the bigger picture. I don't know how to enlargen it here.

Thanks in advance!!!!!!!!!!!!!

Cat, When I make something for raffles / silent auctions, etc., I figure costs based on regular list price or components.  For yours, I would use $10, NOT the $6 you paid for the charm.  The cost of the beads, once you figure them out [ I usually gestimate how much I used ] is added to the other parts, and double the sum.  [ That coversw all my other costs for makeing the3 item.]  For cxalculating "Value", I use $5 to $10 per hour; add 'em up and that's what I list them as.  I can always say, "That's what the Gov't.allows me to deduct as a donation". ( If I were to actually sell the item, I'd change the calculation a bit - profit motive, you know. )

I think the first half of the 'pricing' thread in Beading Business had some bitter[?] discussions on pricing - use a little salt, and you'll find some good info' there.

 I've never done a raffle.  But, I do contribute pieces frequently to domestic violence auctions and the general rule is to start at the cost it took to make the piece.  Since none of it is coming back to you..... it's a donation piece, you don't include what you would charge if you were sell.  I have contributed a couple pieces where they took my costs and added 20%.  On the tax front Stan is probably right.... I don't document donation pieces so I'm not up on that part.    Cherie

Cat

You were given good advice by the others. Everyone seems to have a variation on this basic formula.

In My market for a Set like this I would put the price at $20 to $35 dollars. If I were to go much higher in my area it wouldn't sell. But you might can go higher since you have the Bengals pendant and you're at bar that will be broadcasting the game.

I hope that this at least gave you a ball park to start in.

Good Luck with the benefit

sellen

Well, here's the way I do my pricing:

clasps= 10-, charm= 10- (replacement value), lampwork= 5-, hematite/cat's eye=8.30 (assuming .05 per bead), ss crimps 4x.15= .60, beading wire +/- 30"x.05=1.50

Total materials=35.40  time (1hr)= 20.00  +25%= 13.85 (markup for overhead, commission fees, etc)

Grand total:  $69.25 for the set, which I think is perfectly reasonable considering what it's for, what it's made of and because it's football related-people expect it to cost more.

I also double my materials cost, so I'm using the info you gave me and approximating the rest based on what I have that's similar.  Hope that helps, and good luck!

 Thanks Everyone!

I have a bit better idea now just with your suggestions. Everything that is being raffled off has a value on it so my sister thought it would be best if I had one on this as well.

Never done this kind of thing so I worry that I'll either make something too high or too low. Need to get my edumacation  in pricing stuff!

I just posted this in another thread about possibly selling things, but try either http://www.home-jewelry-business-success-tips.com/index.html or Vicki Lareau's book "Marketing & Selling Your Handmade Jewelry".  Both have a lot of useful info for pricing and other related things.