[Jewelry making - Article 00156] - Re: [Orchid] Quoting a Price

[Lumenea]

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    My business primarily consists of one-of-a-kind and commissioned
    work, so projecting a price estimate is always a challenge. 
    Personally, if I'm unsure of my cost, I'll add in a buffer of 15%
    and quote the customer a range, explaining that the precious metals
    market fluctuates and that there may be changes I can't fully
    anticipate. So, for example, I may estimate a particular pendant
    will run $775 -- $825, but not more than the top figure. This has
    always been well accepted and gives me some ease if I've
    underestimated labor or materials.  On the other hand, I've never
    known anyone to be upset when I deliver the work under the ceiling
    quote, because that's what they've prepared themselves for, anyway.
    I also ask for one-third of the top quote as a deposit on work in
    silver, and one-half up front when the piece is in gold, with the
    actual balance due upon delivery of the completed work. 

    While there have been a few occasions when I've seriously
    underestimated the labor required for a particular design, I chalk
    the lost wages up to education (grin!) and bite the bullet. This may
    be naieve or unrealistic on my part. Only once did I seriously
    under-price a piece because of miscalculating materials, and that
    resulted from having to order a component from a secondary supplier
    who charged me much more than my preferred supplier.  In that case,
    I called the customer and politely explained the situation and they
    kindly agreed to the revised price. 

    I'm curious how other folks handle situations and issues like these. 

Walk in Beauty,
Susannah Ravenswing 
Jewels of the Spirit
Winston-Salem NC

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