Hi, here's my two cents (pun not intended!)
If you price your items
below cost (as you indicated) you won't make a profit! And you won't be able to cover your expenses and materials.
I've struggled with pricing myself, but here's a quick formula, I'm not sure if it also works with other products (non jewelry) as well:
Base price =
(cost of materials + packaging) x 4
+ your pro-rated hourly labor rate
then + 10% of that total for overhead costs.
The formula is from a blog by Rena Klingenberg, jewelry designer and business owner. For more details specifically for jewelry pricing, here's the link :
http://jewelrymakingjournal.com/jewelry-pricing-formula/I find a lot of the time when I see pricing that's too low, I think the vendor forgets to include their time, skill and labour into the price.
Another factor could be that you're new to the site, as you've said below. Be sure to include your shop address in all your media sites so your customers know where to find you, and perhaps consider only accepting sales through your shop here, or offer discounts/coupons exclusively to customers shopping online. Make sure you're also using the right keywords to describe your items so customers can find you easily. Again, go through the Sellers Bootcamp in the Forum, all topics for shop optimization is explained.
Good luck
Bibi
Author
