Pricing Resin Bangles

Published by: bqueen on 17th Jul 2010 | View all blogs by bqueen

A common question when teaching a resin workshop is “do you think Dinosaur Designs are expensive?” and my answer to this is, “I think they are spot on for all the work that goes into them”.

Now before you gasp in horror, stay with me as I share a flashback from an accounting class I attended a while back: namely ‘fixed costs’ and ‘variable costs’.

I’m not suggesting that the costs below are al the costs associated with producing a resin bangle, but it’s worth noting some of them:

Fixed Costs:

· Rent
· Website
· Advertising
· Accounting costs

Variable Costs:

· Resin
· Pigments
· Silicone
· Cups
· Sanding supplies
· Wages
· Delivery costs

Given that Dinosaur Designs manufacturers their resin bangles in Australia (ie Australian wages not overseas wages) the cost of producing each bangle is a steal for what you’re getting.

I honestly believe that for the craft industry to grow, we need to start pricing our products according to what they cost rather for $10 at a local market. By undervaluing your work, you are lowering the perceived value of purchasing a handmade item. The result being that it is very hard for people to make a living from craft.

I’m not suggesting you inflate your prices to unrealistic heights, just to consider how much work goes into producing a piece and considering that if you were working for an employer, you’d expect a certain standard of wages for your efforts.

So the next time you get dressed up with a resin bangle on your arm, remember to marvel at the great value you’re wearing. Oh, and also remember to apply some hand moisturizer or cooking oil to its surface to bring out its sheen.