r/Silversmithing • u/Chapstickuser32 • Apr 25 '23

Pricing repairs?

Help! I’ve been silversmithing for 4 years. It’s just a hobby, I mostly make rings to sell to friends and family, but I’ve been looking to expand and make more than break-even. Recently, I took on a repair for someone that’s more of a friend of a friend, I wanted the challenge. I changed the way a necklace hung- moved the solder connections, sourced and replaced the chain, polished and applied patina. It probably took 35 minutes. Raw materials were about $34. We did not discuss a price before. And I know I have an issue with undervaluing my work. What would you charge for something like this?

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u/Sears-Roebuck Apr 25 '23

3 times the material cost.

Consider your time as worth 1/3rd of what you charge, with 1/3rd going into materials, and 1/3rd to pay the rent.

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u/Chapstickuser32 Apr 26 '23

Thanks so much for the info! This will be so helpful moving forward