[Jewelry making - Article 00092] - Re: [Orchid] What will people pay for...

[Gerry]

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    All, My thoughts of why people buy what they buy. Concernig lurury
    items. Jewelry is a luxury item. 

    Whenever an item is being evaluated for purchase numerous factors
    come into play.  These factors are impulse, selling price, and the
    buyers percieved value of the object. 

    Impulse is what first brings one to look at an object. Simple
    impulse is: I will buy the object no matter what it costs because I
    like the object. More complex impulse happens when a buyer is looking
    for a specific item or an item which will fulfil a specific set of
    variables.  Simple impulse is what normally occurs in purchases of
    inexpensive jewelry. Complex impulse is what occurs in the purchase
    of expensive jewelry. 

    Selling price determines the kind of impulse buying.  Many purchases
    end when the buyer finds out the selling price of the object.  Yes,
    feathers and sea shells may be an artistic expression of great
    design, but are they worth $300?  $3,000?  At the same time a piece
    of well made jewelry made of 10K gold, SI2 diamonds, and a poor
    clarity, but highly colored gemstone; may trigger the impulse buy
    when the selling price is much less than the same object constructed
    of higher quality materials. The artist can utilize this marketing to
    get the same pay for thier design and exectution, but less total
    money for the actual materials utilized. You cannot sell 10K gold
    for 18K, SI2 diamonds for VVS, or a poor gemstone for the same price
    as a high clarity and deeply colored gemstone.  You can try, but you
    will be very shortly discovered and your business will suffer. 

    Percieved value figures into the equation whenever luxury items are
    sold. Understanding percieved value is very complex.  In my business
    I have spent many hours trying to figure out how to better market my
    items.  Percieved value plays an enormous part of this equation.  We
    do not target any one area of human beings.  Every one that
    approaches us is treated like they are the most impotant person at
    that moment.  We sell our gemstones and jewelry because the customer
    percieves that the product is what we say it is in physical
    description and in actual components.  When customers check out the
    jewelry at either appraisers or other stores they quickly find out
    we are trying our best to be truthful.  That is what brings customers
    back. This is just my analysis in very short form of the complexity
    of the sales of luxury items. 

    Gerry Galarneau, in sunny and hot (105 F today) Phoenix, Arizona,
    USA, where my stock of finished products is the lowest it has ever
    been and I am working hard to recover from a very brisk sales season. 

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