When a crafter starts a new business, they often find pricing products to be a daunting task. Add wholesale issues into the mix and things will get even dicier. The issue is that most artists undervalue their work and even look to other online sellers to set the standard. Sure, you compete better when you have the same prices as peers but your ability to grow offline will be harder.

Here’s a few ways to determine your product prices for wholesale (or even just in general!):

• Asking for help on the Etsy Forums

Etsians are very helpful with this sensitive subject. Many sellers will encourage you to raise prices because it helps everyone as a whole.

• Working with a Jewelry Calculator.

Don’t be alarmed by the seemingly high prices this thing spews out. After a few months doing wholesale I realized this was very accurate and I even went above what it said at times! Be sure to add ALL your costs otherwise your results will be way off.

• Check your LOCAL competitors

Forget your online competitors and make a trip to a store you want to see your items in. Check out the retail prices of your competitors there because this will give you a very good idea of what your items should be sold for. Be sure to avoid looking at prices of mass produced merchandise like that of H&M because it can be discouraging and counter productive.

• Ask a competitor!

Many indie designers are very willing to give free advice on pricing your work. I spoke with two women (with very successful wholesale jewelry companies) and both were absolutely upfront and honest about how to price my collection.