[Jewelry making - Article 00002] - Re: [Orchid] Amateur pricing - On valuing ourselves

[Guy Payton]

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    I am re-chiming in on this one. Why not keep it as simple as
    possible? If you make something in silver then most gold buyers won't
    be looking for you. The same for the platinum fans who never bought
    anything else but platinum. This idea spread into pricing. Where
    would you most likely find a $2500 Yurman piece, Wal-Mart or Niemans? 

    Price according to your market. If you make a 25 ctw platinum piece
    your market is going to be much smaller and will take longer to sell
    it. However the same design in silver with cz's you'd have to make
    say 100's to 1000's more to earn what you would off of the 1. 

    Now put those 2 things together and define your market and price
    accordingly. If most of your customers buy silver and 14k gold
    between $50 to $500 then expect a hard time selling platinum at
    $3000. Embrace the rejections to strengthen your belief in your
    ability and works. I get calls all the time for pieces and I happily
    figure out the costs and give the quote. When I did most of my work
    in silver I received calls and many bought. When I jumped to gold I
    got more calls and fewer buyers but never lowered my prices. 

    So when you hear "I can it get it cheaper from this place" tell them
    politely by all means get it from that place. If you make one of a
    kind pieces you can let them know they can only get your design from
    you. The value of the piece starts at the artist, who defines what it
    will look like and be made of. 

    The pep talk "If Donald Trump walked in my shop..." :D 

Good luck and make your vision.

Guy Payton...

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