Author Topic: Prices… need your opinion  (Read 17130 times)

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Offline Kirameku

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Prices… need your opinion
« on: January 20, 2014, 01:06:07 PM »
Good evening everyone : )

It has been a while since I've been in the HA forums. Although, I came back here because I'm seeking your bold opinion pretty please. I sell handmade jewelry on Etsy and I need your input on my prices. Here's my shop : www.kirameku.etsy.com

Most of my jewelry are adjustable rings, so I don't want to charge too much because it is not sterling silver. Although I keep reading about sellers that made the big jump and charged more for their items and all went well. I was wondering if I should do the same.

Thank you so much : )

Offline Blue Highways

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Re: Prices… need your opinion
« Reply #1 on: January 20, 2014, 01:23:02 PM »
They are super nice and the prices are more than reasonable but as one who does not make jewelry I do not know how long it takes to create one so I couldn't tell you if the cost is too low. Personally, I don't buy that sort of jewelry simply because my skin will turn color in no time - perhaps you can have both those and sterling in your shop?

Offline gemlover

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Re: Prices… need your opinion
« Reply #2 on: January 21, 2014, 06:10:25 AM »
Remember that your time is valuable.  Your pieces are not the only thing in the price, your TIME is probably more important than the cost of the parts.  Are you making at least minimum wage selling at your prices? 

John
John Atwell Rasmussen, PhD, AJP
Lapidary, Gemologist, Geologist, Artisan Jeweler
email: john@rasmussengems.com

Offline Kirameku

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Re: Prices… need your opinion
« Reply #3 on: January 21, 2014, 08:07:29 AM »
Thank you for your answers John and Andrea, I appreciate! : )

The time does actually depends on the piece, but I never thought the time was the most important part. I thought it was a part of the price, but not the biggest part of it. I do cover my shipping and materials but I might not have minimum wage on some pieces… But I wondered if 15 and 17$ would be excessive for such rings…?

Andrea : True that adjustable ring can colour ones skin depending on it's acidity. If I wanted to have sterling I would have to make a partnership with a silversmith to have the pieces custom made. I would have to sell the pieces to such a high price ,I've left that idea on the ice. Although I would be able to have some necklaces in sterling silver, that would be a good idea. Thanks dear : )
« Last Edit: January 21, 2014, 08:22:06 AM by Kirameku »

Offline Larissa

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Re: Prices… need your opinion
« Reply #4 on: January 21, 2014, 09:33:18 AM »
Honestly, I'm kind of a snob when it comes to jewelry.  I hate to put it that way, but if I'm being honest with myself, it's true.  And I know I'm not the only one.  I think your pieces are fun and pretty, but as someone who wears mostly sterling, gold, copper, and brass, the low prices actually turn me off.  I see things that inexpensive and assume they're cheap, because I DO assume that you're charging adequately for your time, which means the materials must be nearly worthless.  Know what I mean?  I know I'm sounding harsh, but I'm only a few sips into my coffee & I think brutal honesty is more important than being overly nice.  At any rate, it's a bit of a "you get what you pay for" thing.  I'd rather see the work you put into the pieces reflected in the prices so I know that by subtracting that, your materials are still worth something too.  Right now, I see jewelry priced that way as something I'd buy for a kid, not myself.

Offline Kirameku

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Re: Prices… need your opinion
« Reply #5 on: January 21, 2014, 01:21:34 PM »
Hi Larissa,

outch, that hurts, but I totally understand what you mean. Thank you for giving me your opinion.

My materials aren't as costy as sterling silver and diamonds but they are not purchased at the dollar store either. My pieces with the most expensive materials are my necklaces. All the chains are from beadalon, which provides a good quality of metal and a varnish to protect the chain so it doesn't rust or tarnish. What do you think about the prices for the necklaces? They have Swarovski crystals and freshwater pearls in plus of the berry glass charms.
« Last Edit: January 21, 2014, 01:36:05 PM by Kirameku »

Offline Nárrína

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Re: Prices… need your opinion
« Reply #6 on: January 22, 2014, 09:46:13 AM »
I have to say I agree with Larissa. Your jewelry is very cute and fun, but I agree the prices do not reflect what you want them to. I would absolutely raise them. And yes, sometimes raising a price does help it to sell. I've done this multiple times with my own jewelry. One piece that I tried that price experiment with was a copper and sterling Byzantine bracelet. I'd originally priced it at $75 and for years it got a lot of looks and comments at my shows, but no sale. One year, I raised it by $10  and it sold pretty much straight away. There is a perceived value that is very hard to gauge, but it has a huge impact on whether or not something will sell and pricing plays a major role in that perceived value.

Something else about your prices to note is the odd choice of prices. The use of cents in prices is a marketing tactic used primarily by manufacturers but is often advisable to avoid when it comes to most handmade work. Often, it can draw an immediate comparison with those manufactured goods and so can cheapify the perception of your work. When you buy manufactured products you are generally looking for that "bargain," but when you are shopping for handmade work you are looking for quality and so the pricing ploys the manufacturers use tends to hurt artist sales rather than help them. Also, especially true if you do shows, most people don't want to mess with coins, they'd rather have whole dollar amounts to work with as it means less fuss for them.  Another thing to consider is the unusual whole dollar amounts, often, if a person is willing to $13 they'll be willing to pay $15; if they're willing to pay $17, they'll be willing to pay $20 (and so on and so forth), or at least they are at shows. It's easier for them, and sometimes those unusual dollar amounts, again, can have a negative impact on your work's perceived value. They might look at the prices and wonder "why didn't they just price it at....." and then assume that it must mean there is something "wrong" with it.

Just do some experimenting with your prices, if you don't like the results you can always change them back.

Offline Larissa

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Re: Prices… need your opinion
« Reply #7 on: January 22, 2014, 10:57:43 AM »
Yeah, I'd raise the necklaces too.  Three pendants and a chain for $42 is REALLY inexpensive.

Do yourself a favor.  Look at a Lia Sophia catalog (if you google it you can find it online) and check out what they're charging for mass produced crappy costume.  None of it is silver or gold.  Then factor in that yours is handmade.

Offline Kirameku

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Re: Prices… need your opinion
« Reply #8 on: January 28, 2014, 12:12:45 PM »
Nárrína: Thank you so much for your feedback! My prices are sometimes at .50 or .75 because my materials aren't costing a ''round'' amount. It was to be in check with my shipping that is sometimes also .50 so it would total a round amount. I do round up my prices if I do shows, but to me it is not the same since there is no Etsy or Paypal fee to count into your price at shows.
But thanks for the heads up. : )

Larissa : I have checked the catalog you talked about, it is crazy how much they charge! And they don't specify if it's silver or gold, or which ever the metal is. Thanks for the tip!

Offline Larissa

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Re: Prices… need your opinion
« Reply #9 on: January 28, 2014, 12:18:42 PM »
Larissa : I have checked the catalog you talked about, it is crazy how much they charge! And they don't specify if it's silver or gold, or which ever the metal is. Thanks for the tip!

Oh, I can tell you it's neither!  It's all rhodium-plated mixed metal (with some nickel), with stainless steel earring posts.  That stuff is 100% mass-produced costume, with no precious metals and no precious or semiprecious stones, though I have seen actual abalone here & there.

And that's what they're charging for it.  For real.  See why your prices are too low?