nancyf
has rocks in the head
Wired Cowgirl
Member since April 2007
Posts: 629
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Post by nancyf on Jul 29, 2009 20:21:43 GMT -5
HI all! I just wanted to address a reply to this pendant: www.keystonejewelry.com/pendants/pen3258.htmThey stated that they didn't know BO could be sold at this price. I did not take offense to this at all. In all honesty, sometimes it cannot. This stone is spectacular in size and color. (Thanks Jaime!) Also, with the price of gold these days, the wire was costly also. Then there is the years of experience in wrapping...which leads at times from some people to fine quality jewelry. Here is the kicker...an item is worth what someone will pay for it period! I'm at a place that if I love a piece, I price it that way and...I don't care if it sells. I don't mean to be snotty at all. I have another BO from Jaime that I will wrap and if I love it more, I might mark this one down. Then again, I may not! ;D When you first start out wrapping, most will under price their items...some will over price. Family and friends are not the best people to evaluate a newbies pieces (or most people). :nono: Even after a couple of years, some do not attain the abilities of others. Hey! Everyone has a talent, and for some it is wire jewelry. Some can paint, some can fix mechanical things, etc.... What I'm trying to say is...how good is the piece you are trying to sell? Price it accordingly. Some people use formulas. I do that sometimes too! However, I find that if I take what I have in a piece (sometimes researching the actual worth of a stone to help with this figure), then multiply by 5... and tack on the time I put into it...that is a good selling price. Why? Because, I have to consider my overhead. Website cost...shipping materials...electricity...computer to run site...gas to the PO to mail items...time to go to the PO is time away from making jewelry, so that counts too. Then there is time researching ...that is huge! There are so many things to learn when you are selling jewelry online. You have to be a web GURU...bookkeeper...photograper...etc. All these things take time and money. Therefore...some mark up their jewelry a LOT more than I do. Last year, I went to work for a company and now receive a pay check...jewelry has become a hobby for me. An expensive hobby now that I don't have time to make inventory, do shows or work on my site like I use to do. I don't always stick to the 5 times plus rule...sometimes I mark it less and sometimes more. Again...an item is worth what someone is willing to pay for it. Hugs to all...I hope I got ya'll thinking. :cheesy:
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Post by akansan on Jul 29, 2009 20:38:50 GMT -5
Good post, Nancy. I know my pieces are technically underpriced for time and materials. In reality, I'm basically giving away all the supplies for free in my wraps, and only charging for the time it takes me to wrap the piece. Part of the reason is the difference between a hobbiest and someone who does it for a living. If I ever became more serious about selling my pieces, I'd probably raise all my prices by about $30 as the starting point. Currently, they sell for what I charge my friends. This same type of post should also cover people who sell cabs. There's a fine line between finding a cost point that sells and finding the cost point that covers all expenses. Unfortunately, there are so many underpriced cabs out there as well.
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Post by Tony W on Jul 30, 2009 1:57:59 GMT -5
YOur thinking is my thinking! If I like it and want to put a big price on it, I do. With opals you can find the gamet of prices, but a good stone fetches a good price. Even a perfunctory look around the web finds opal at prices like yours, and lots higher I've got a couple of stones that are perfect...no pits filled, great pattern. In reality they are probably only100 buck/200 buck stones...but to me they are so cool, I'd probably have to get 5 or 6 hundred for them. I also have a bunch of 20 buck cabs, lol. And if I sold them all I wouldn't get back what I paid for the rough Close though and I only just started cutting my last batch of rough. Like you say the botton line is what someone will pay and one has to figure in lots of things that may not have so much to do with the individual stone, and wrap, as with what it took to get it to the presentation stage. T
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Larry
spending too much on rocks
Member since June 2008
Posts: 267
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Post by Larry on Jul 30, 2009 6:44:02 GMT -5
I agree with the above... unless of course you are desperate for the money, then you really just need to find a price point that will move merchandise. As long as you are fully prepared for only selling something here and there, then you can price on the high end. I went to a local rock show this year and a guy was selling pendants of your typical agate/jasper variety for 100-200 or even more. My wife commented on how, when I get more skilled, I can make that kind of money on mine. I pointed out that his case was still full, and I'm sure after a 3-day show it would still be full. In other words, you can price them as high as you want, but you have to be cool with accumulating a stock over time that won't go anywhere. Me personally, I'd like to hit that happy medium where I can sell regularly (1-2 every 1-2 weeks)... not enough to drain my supply but not so slow where my supply gets too big and nothing moves. You also run the risk of personal growth getting in the way. It's better to move those older ones while you still think they're awesome, rather than looking at it 2 years later and thinking, 'I can't sell this, it's shoddy work', because by then your standards will be much higher. One thing I took to heart and agree with was when Mel (correct me if I got the wrong guy) said something to the effect of.. 'If you want to make money in lapidary, you will find your time is worth nothing.' If your price includes your time and effort, it's gonna be an uphill climb to sell in any art/craft/hobby. Realize your time serves you more than it serves the buyer. I know I rambled and went all over the place with that but I hope it sorta makes sense
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Post by johnjsgems on Jul 30, 2009 8:01:00 GMT -5
I hate to agree with everyone but I guess I have to. I've cut cabs I liked, humbly considered exceptional, and priced at the "I don't care if they sell or not point". I had a turquoise cab that went to a lot of shows, was picked up and looked at and put back down so many times I could have skipped polishing. Finally the right person saw it, bought it, and we were both happy. On the other hand, like Larry said if I have product on hand for too long it is time for the sale. Overstocked/slow moving product gets to be a "Show Special". We also have put slow sellers away for a year, dug it out when stock was low to fill a table and had it sell like crazy. These are generally items we purchase for resale but it has worked with my wife's beaded jewelry too. My wife prices her beaded jewelry at three times material cost then adjusts up or down by eye appeal. If the materials run $20 she'll ask if I think $60 is fair? I'll look it over and say wow, try $75 you can always lower it or it's a little plain, try $55. Of course, beading doesn't require the work or ability of wire wrapping (boy am I glad she doesn't read this). Now Larry, this is rambling.
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fisherman510
starting to spend too much on rocks
Member since August 2008
Posts: 113
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Post by fisherman510 on Jul 30, 2009 8:06:47 GMT -5
Excellant thread. I see this same thread in many other forums. I read some jewelry and bead forums also. I think, Larry, that yours and Mel's comment on labor is pretty true whether it applies to hobby or your livlehood. I think if most self employeed people sat down and figured what they were making on a per hour basis it would scare them to death.
Bob
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nancyf
has rocks in the head
Wired Cowgirl
Member since April 2007
Posts: 629
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Post by nancyf on Jul 30, 2009 8:31:43 GMT -5
Oh yes...in the begining years, I too underpriced my work. I was told by a very experienced and lucrative lapidary/wire artist...that I should up my prices. They also told me why...part of the explanation was that I was really good at it. I was shocked to say the least. I had been my own worst enemy for years! Oh, family and friends said they loved my work...but it took someone I admired in my field to make me realize it too. So, up my prices went and it didn't hurt my sales. ;D Yes, I agree that this all can be said for lapidary work. I buy slabs from time to time and BOY have I spent some money! I don't know what I will do with them, as I don't have any equipment to make cabs...but I sure do like em. I can only imagine the time it takes to make a beautiful cab. Also, what may be ugly to you, could be gorgeous to someone else. Having a variety of price ranges is a must in my book. All shows are different...one time you will sell $10 to $40 items mostly and then next time you might sell higher priced stuff. To me, shows are a crap shoot...ya just never know. I would do a show ONLY if it were a festival...that way, I could have fun and work. Otherwise, it wouldn't be worth it to me at any price. They are HARD work! ;D Fact is...you really need to get a good enough price to cover your materials. Hobby or not, you don't want to lose money and not be able to buy that special stone or rough! What your time is worth is up to you. I pay myself $40 an hour. I've done this for years now and have no problem. I just tell myself that I am worth what that guy is worth that changes the oil in my truck. ;D You have to remember, that with years under my belt, I am more than likely faster at making a pendant (earrings, etc.) than I use to be. So, it all comes out in the wash so to speak. MOSTLY I just price the way I want. I suppose if I needed the money, that would change. I would sell everything I have...supplies and all. Jewelry making as a business is doable...but waaaaaay to hard to make a living at. I am so glad you all are enjoying this thread!
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kjohn0102
freely admits to licking rocks
Member since April 2006
Posts: 774
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Post by kjohn0102 on Jul 30, 2009 10:15:48 GMT -5
Great thread Nancy! I know that I've way under priced my stuff-due to lack of confidence. Pricing is also what the market will bear I've recently rented space in an upscale boutique and everyone in there has beautiful products-from jewelry to quilts, and all very expensive. In this economic climate not too many people are shelling out $100, $200 for much of anything-no matter how beautiful and well crafted it is!
BTW Nancy, that is one STUNNING pendant! I love visiting your website-lots of eye candy there!
KJ
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nancyf
has rocks in the head
Wired Cowgirl
Member since April 2007
Posts: 629
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Post by nancyf on Jul 30, 2009 10:44:26 GMT -5
Thanks KJ! I thought it a good idea to talk about pricing your work once in awhile. Some people may think I'm snotty cause of the prices I have on some stuff...but it ain't true! ;D Kuddos to you on your new boutique venture. I hope it does really well for you. Thanks again for liking my pendant and my site. I really need to get to work on my site. I've been re-designing it...yeah, again! So, hopefully I will have some new stuff and can take some of the old or sold stuff off at the same time. WHEW!
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10thumbs
spending too much on rocks
I want to be reincarnated as a dog.
Member since March 2009
Posts: 480
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Post by 10thumbs on Jul 30, 2009 10:46:26 GMT -5
They stated that they didn't know BO could be sold at this price. I did not take offense to this at all. Nancy, I appreciate that you did not take offense. I assure you none was intended. The surprise is not based on the dollar amount so much as my pure ignorance. While I really appreciate the lapidary arts I never correlated my appreciation with dollar amounts. I don't see myself ever selling anything because I HATE haggling. My older brother is a very successful business man. Part of his success is based on his ability to horse trade. Consequently if the other party isn't red faced by his opening offer he feels he opened too high. I think growing up with him soured me on the art of the deal at a young age.
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nancyf
has rocks in the head
Wired Cowgirl
Member since April 2007
Posts: 629
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Post by nancyf on Jul 30, 2009 12:42:53 GMT -5
Naw 10thumbs...I didn't think you meant to insult me. Funny how some people in my field do get offended very easily. Shoot, it suprises even me! ;D Lots of people take things the wrong way. It is very hard to put intent in the written word. I try, but sometimes I come off sounding different than what I truly meant. Anywho, hugs to you...I have a sister that is more extroverted than I am too!
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Post by Tweetiepy on Jul 30, 2009 17:20:21 GMT -5
I'm also part of the chainmaille board and they have the same questions/issues. Some have said that if they sell for too low - people won't buy them thinking it's made of cheaper materials, if they up their price, they seem to fly off the racks! There's a market for everything and a buyer for everything.
I sold my chainmaille vest for $300. I know I undersold it but I decided to let it go because it fit her so well and if I'd have kept it for myself, I would have had to make too many adjustments and if someone else wanted it, it might not have been purchased. I basically sold it for 3x the price of materials (I didn't count my time - it was TV watching time - so it doesn't really count)
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Post by Bejewelme on Jul 30, 2009 17:39:03 GMT -5
Nancy: This is a good post,and your work is stunning, the Prasiolite (Green amethyst), Peridot (6mm) and an Akoya Pearl set in sterling silver wire, holy cow I drooled all over myself. Amber
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nancyf
has rocks in the head
Wired Cowgirl
Member since April 2007
Posts: 629
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Post by nancyf on Jul 30, 2009 17:55:10 GMT -5
There is a ton of truth in that Tweetie...and as for your vest...I'm glad it found a great home! Aw...thanks Amber! I love that one too. Green is my favorite color...my house is green inside and out...lol Well, not bright green!
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Post by stonesthatrock on Aug 7, 2009 9:52:54 GMT -5
your pendents are so beautiful. OMG the lapis !!!!!!!!!!!!! My pricing is maybe somewhat different. Because ralph and i can not go and collect the rocks ourselves, i have to base my pricing of the slabs on how much i had to pay to the rock, cut it.....then the oil and blades. My time, is worth nothing even though i cut 12 hrs a day 7 days a week lol while the slabs are cutting, I'm taking pics writing descriptions etc. etc. etc. So of the items are priced high because like the rest of you, if i sell it for that ok, if i don't, well then I'll keep it......... my inventory has no expiration date..... hehehehe Great thread and its interesting to hear all the comments. mary ann
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Post by tkrueger3 on Aug 7, 2009 11:07:36 GMT -5
Along those lines - is it just my imagination, or has anyone else noticed the price of slabs on eBay has been climbing dramatically in the last month or 2? I see slabs there that I would like to obtain, that would have sold for $2-3 a couple of months ago, where now the opening bid is like $50! Is this hobby experiencing a growth spurt, or is there some other thing going on that's not apparent to me?
Just curious,
Tom
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Sabre52
Cave Dweller
Me and my gal, Rosie
Member since August 2005
Posts: 20,484
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Post by Sabre52 on Aug 7, 2009 16:32:38 GMT -5
Tom, Simply put, all the good slabs and rough are being chopped up and put into jewelry. Lots of materials don't yield all that many really nice slabs anyway. Most good gem sites are limited in yield and the Chinese have stationed trailers and buyers at lots of them to buy rough for their massive carving trade. I know guys who actually buy Chinese carvings and slab them to get good solid rough for cabbing. It's simply supply and demand and most the great material is simply drying up so sellers are selling stuff from old collections etc. Besides the high prices, I've noticed quality is way down lately and lots of marginal stuff is being pictured wet on E-Bay so I refuse to buy slabs or rough I can't have in hand to examine unless it's from someone I trust....Mel
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Post by stardiamond on Aug 7, 2009 16:52:50 GMT -5
Along those lines - is it just my imagination, or has anyone else noticed the price of slabs on eBay has been climbing dramatically in the last month or 2? I see slabs there that I would like to obtain, that would have sold for $2-3 a couple of months ago, where now the opening bid is like $50! Is this hobby experiencing a growth spurt, or is there some other thing going on that's not apparent to me? Just curious, Tom I've been buying slabs on ebay for over 7 years. What I've noticed is the quality and selection has diminished. The result of this is the demand far outweighs the supply for primo material. When I cut a cab (unless I am trying out new material) I expect someone to be interested in it, otherwise I am wasting my time and money. You can pick up a lot of good cabbing material on ebay, cheap, that will make nice cabs, but nothing special. Since the first of the year, I've bought a dozen items and paid more than I wanted for a few of them. Fortunately, I've got a small inventory of good stuff waiting to be cut, but considering prices I might be better selling the slabs than making cabs out of them. I've noticed that cabs sell for less than what the material used to make them cost now. Regarding pricing, the three components are the creator's reputation, the artistic ability and the uniqueness of the material. My opinion is that uniqueness is the most important factor. Time spent and material cost doesn't determine what a piece will sell for, it's the demand and the uniqueness of the material and the pattern determine the demand.
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nancyf
has rocks in the head
Wired Cowgirl
Member since April 2007
Posts: 629
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Post by nancyf on Aug 9, 2009 9:26:41 GMT -5
I have bought some slabs on Ebay lately...and BOY were they expensive! Well, I really wanted a few of them, because as you all have said...good material is hard to find on Ebay in slabs these days. I really have to want it, before I will bid anymore. I don't make cabs, but I thought one day, that I would get someone to cut them for me. Just not there yet. ;D I agree that uniqueness is a must for higher prices. Quality and wearability are very important to me also. I would be mortified if something of mine was returned because it was uncomfortable...I know it is well made...been at this too long! ;D I do not particularly like oval stones (have a lot of them tho)...unless it is something special, or...I have a particular design that calls for an oval. I prefer stones that are uniquely shaped and colored. I love faceted stones also...mixing them with lovely cabochons is my favorite thing to do. Everyone is different and I'm glad they are! ;D
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