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Post by stardiamond on Dec 21, 2023 23:06:20 GMT -5
My best customer is a silversmith. I make a lot more cabs than I sell. I was considering making a proposal to trade cabs for pendants. Silver with a very simple design and bail. What are the material costs and time to make a 40x32 pendant?
I work outside and don't have a place to work inside. My skill and enjoyment is making cabs.
I would appreciate some input. Thanks.
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Post by opalpyrexia on Dec 22, 2023 19:48:41 GMT -5
Can you post an image or two of his/her pendants that are/were made with your cabs? If you can include the prices that s/he paid for those cabs plus the prices of the pendants, it might be possible to provide a guesstimate.
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Post by stardiamond on Dec 22, 2023 20:56:52 GMT -5
I have a picture of one but don't have a price sold. I've sold her thousands of dollars in cabs but I can't find her work. She has a website and instagram but I don't see pendants.  |
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Post by opalpyrexia on Dec 22, 2023 21:29:42 GMT -5
Have you considered purchasing a specific sterling bezel cup and then cutting cabs for it? You may be able to find one with a bail, or at least a jump ring to which you could attach a pinch bail.
The pendant in the photo is pretty basic. Can you envision her cutting her margin to add your business? Alternatively, can you resell what she's making at yet a higher price?
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Post by stardiamond on Dec 22, 2023 21:41:05 GMT -5
I like basic. I don't want to cut a premade setting. I pick a shape to best frame. I've looked at premade and they are also generally smaller than I prefer.
I don't think she sells on the internet and likely gets a good price for her work.
My thinking was simple. I have excess cabs, she buys cabs and makes pendants. Rather than having inventory sitting, I would like to move cabs and increase revenue by offering pendants.
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brotherbill
spending too much on rocks
Member since October 2018
Posts: 388
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Post by brotherbill on Dec 23, 2023 9:32:11 GMT -5
stardiamondA basic 40x 32mm pendant like pictured above would use about 7-8 grams of silver if you use .8mm thickness for the backplate. At $2 CDN a gram...say $15 CDN. Then add 10% for consumables like flux,solder,pickle, sandpaper, etc.. If you spend more than an hour making this kind of pendant you will not make any money. This basic style of pendant is in direct competition with the importers. Their pendants sell from $50-$60. In order to distinguish your products from theirs and charge a higher price you need to add detail to the silverwork. The workmanship and value of the stone factors in very little to the majority of buyers. Selling basic pendants can be self funding but IMO not money-making. Good luck
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Post by stardiamond on Dec 23, 2023 12:01:59 GMT -5
Thank you for the information. It answers my question. I should be able to offer $40-50 in cabs for a completed pendant using a cab I provide. My average cab sells for over $30 and the person who is willing to trade gets to choose. The person I am considering making the offer does work to make income.
I don't know silversmithing but I do know cabochons. I don't compete with importers. I checked Etsy and have a good idea of what a basic pendant with a particular stone is being offered at. My goal in selling cabs is selling price equal to three times of the cost of material. The cost of material for the cabs I trade and the one that is set would be roughly $40, so my goal would be $120 for a pendant. I like to make cabs and my goal is only to make the hobby self funding. I have excess cabs and hope to use them to increase revenue.
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