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Pricing custom work The pricing system for custom work described in the February issue [page 118] is a good once-a-year exercise. I have used two other methods that are quicker and create a more effective price – the comparative method and the relationship method. First some legal background. The Fair Labor Standards Act requires workers to be paid by the hour with time and a half for hours worked in excess of forty. Virtually all goldsmiths are governed by this federal law, enforced by the Department of Labor, Wage and Hour division. Getting around this law by treating workers improperly as “independent contractors” or putting workers on “piece work” or “100% commission” is called a “sweat shop” and is a favorite subject of some TV news programs. The comparative method is very simple. Call around to other occupations similar to goldsmithing and see what they are
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