How to set the price

When I was working as an freelancer doing illustrations, we estimate the cost of a piece based on the number of hours x hourly rate x buffer.

When I was working as a hypotherapist, we charge per session.

When I was working as a retailer selling handmade skin products, we price each product with reference to their existing market price.

Previously when I was the shop owner of a jewellery shop, price is further determined by its rarity.

Honestly, I never quite agreed with any of the above "rules". Can we really base the price of a piece of artwork on how much time we have spent on it? Base on what others have been charging? Base on its relative rarity? This is one of the first stumbles Napping Hay has faced - how to set the price...

We believe each gemstone is unique, and also because of their own uniqueness, who are we to set the price for them? Does a $1000 stone make you love it more than a $10 one? Actually, probably. But, why? If I accidentally mix the tags of these two stones, and you really fell in love with the $1000-tagged stone. Later on, you noticed other shops are selling them at $10, will that make you like it less afterwards? Then... you may want to rethink what this gem means to you.

Pricing our gem was really really hard. The market, like any other precious stones, sets the price according to its rarity, and of course as their downstream, would also consider the cost for acquire such gem from them. If the acquired price of a gem was already at $1000, one would be logical to sell them out at least more than $1000, correct? Nope! I am sorry to say, Napping Hay would also like to break this logic as well. 

The $xxx is by no means the value we are defining these gems as. We view ourselves just like a channel for these gems to find their home, and you to meet your gem. You can perceive $xxx as... a support for Napping Hay in searching more home for more gems?

Who says?

You would be surprised to see what you will find in these $xxx collections!