Costings

# Description Cost Breakdown @£10/hr (rounded up for round figures)
1 White MDF Triangle £35 Labour £30, MDF £2
2 Walnut Triangle £45 Labour £40, Walnut £5
3 White 3D printed Top triangle, with recess for rings and space for cabling £15 3D printing £10,  Paint £1
4 Frosted resin internal ring £20 Labour £40, Resin £5
5 12W LED ring cob £10
6 White MDF outer ring with recess for LED ring £5 Laser cutting £5
7 Top component of the top triangle which holds the light ring £5 3D printing £2, Paint £1
8 Bronze triangle with power cable. £60 Bronze £10, Labour £50
9 Neodymium magnet with a 1.4kg pull, each magnet connect with wire to transfer electricity £5
£100 10 Hours to wire entire light and fix top light together
Total £300

Above is a price estimate for my light. I have taken the materials cost and added it to labour costs at £10 and hour. I think that if i was making the light in batch production I could significantly reduce labour fees as I become more efficient at producing the triangles. I would also be ordering materials in bulk so this would push the price down further. Items like the bonze triangle would have to be made in a comercial foundary and could be quite expensive to produce, but that the cost of a high quality premium materials, and I belive people will pay for this. Something that I haven’t added into this chart is the cost of further developing this light. It can be quite costly to develop something new as there are so many unknowns and testing require a lot of material which dosn’t nessicarily get used for anything. This project was the first stage of development with my final light outcome as the initial concept piece. If I was to continue I would have a lot more work to do an more prototypes would have to be made. Once the product has been made then there are a lot of cost which incur through the marketing of the piece, and then of course the making of the piece using the machines, running the machine cost money that should be taken into account. So on top of materials and labour there is also various different coast which need to be considered. Of course the more products you sell and the larger your scale of product the less you need to add on how much it cost you to develop it and market it.

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