Comments on: Pricing of Jewelry Made with Expensive Components? https://jewelrymakingjournal.com/pricing-jewelry-made-expensive-components/ free jewelry tutorials, plus a friendly community sharing creative ideas for making and selling jewelry. Tue, 13 Jun 2017 13:00:55 +0000 hourly 1 https://wordpress.org/?v=5.7.15 By: Dianne https://jewelrymakingjournal.com/pricing-jewelry-made-expensive-components/#comment-538205 Tue, 13 Jun 2017 13:00:55 +0000 http://jewelrymakingjournal.com/?p=49973#comment-538205 Listen to Rena & Judy! I have had similar experiences too many times to count. It’s scary with your first piece that has a higher price point than you are accustomed to. I remember my first piece that was in the hundreds…I was terrified but the piece sold (on Etsy) in less than a day!

]]> By: Judy Bjorkman https://jewelrymakingjournal.com/pricing-jewelry-made-expensive-components/#comment-538202 Tue, 13 Jun 2017 12:43:14 +0000 http://jewelrymakingjournal.com/?p=49973#comment-538202 Rena’s remarks are very wise. On occasion, I have found that raising the price of a piece of jewelry made it sell better! I can’t explain that, but my jeweler friends report similar experiences.
Judy

]]> By: Rena Klingenberg https://jewelrymakingjournal.com/pricing-jewelry-made-expensive-components/#comment-538017 Mon, 12 Jun 2017 18:39:20 +0000 http://jewelrymakingjournal.com/?p=49973#comment-538017 Thanks for asking, Pinakee! Yes, as long as you’re purchasing your components at wholesale (not retail) prices, this formula should work out to fair price on the finished product. Customers know that when they’re purchasing jewelry with more expensive components, the price tag will reflect that.

You might be surprised to see how fast it sells at that price. Whereas if you dropped the price because you were uncomfortable with that higher price, this necklace might sit around for a long time without selling.

Here are two posts that may help you with this dilemma:
Jewelry Artists’ Mental Money Barriers
Are You Ready to Take Your Jewelry Business to the Next Level?

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