I'm a jewellery designer by trade and it astounds me the jumped up prices people sell their jewellery for, just because they are a 'Brand'
So...
From what I can see from the detailed picture, there are 14 bangles.
at the most that is 2 metres of leather thong, which costs £2.00 from suppliers
then you have the finishing on the leather thong for sterling silver , it would be about £6.00
Jump rings in Sterling would be next to nothing 50p at best
The heart charms, roughly about £1.00 in sterling from trade suppliers.
that totals about on average £26.00 .
Obviously labour costs have to be added to that, but to be honest these sorts of jewellery are made in India or China for pittance. I have endless emails from companies from these countries asking me to buy their mass produced jewellery, to sell.
There are a lot of designers like me out there that design and make their jewellery, to sell, people would not be ripped off so much, and every piece is unique, which makes it extra special. There is handmade jewellery out there to suit every taste, you just have to look for it.