Now you’re in the jewelry business, making lovely pieces and you need to figure out how to price them so that they will actually sell!  Below are some tips on how to set prices.

First of all, as a jewelry artist you need to decide what flavor of designer/jewelry artist you are.  Are you inclined to attract the value shopper who wants something low cost but still attractive or would you rather sell to the middle tier customer who considers jewelry an expression of who they are?  Or maybe your desired customer is the investment type who believes that buying a “brand” is as important as the jewelry itself?  Once you decide which type you are creating for, then you can begin to determine your prices.

The best way to start is to assess the pricing levels of your competitors.  Again, your competitors will fall in the three categories defined already – budget jewelry, quality costume jewelry, and designer jewelry.  Within each category there are various subcategories such as ethnic or regional, artist, handcrafted, semi-precious stones, precious metals, etc.  Search online for the products that are similar to what you craft.  Identify a number of different manufacturers and ask them for pricing.  If you don’t feel comfortable asking, persuade a friend to help you because if you don’t know what the competition is doing you can’t effectively price your product.

Another rule of thumb in manufacturing is to charge five times the cost of production.  Jewelry however usually has an additional 40 – 200% markup beyond this because often there are middle-persons who need to get paid for merchandising the product.  If you don’t have this layer in your sales process then you can compete to garner more sales for a similar product found in boutiques or department stores.

You may choose to sell direct to a retail store but you will see yourself getting paid 20-40% of the actual sales price because of this markup.  Selling online is an effective way to merchandise your jewelry also; however you will need some lessons in building a store and then marketing it.  It will require that you build a recognizable brand, build business and consumer relationships, and pay for advertising and marketing that utilize online tools.

Finally, you can always change the price if it’s not working for you, adjusting it up or down until you find the sweet spot that covers your cost of production, your overhead and a profit.  Also, don’t forget to enjoy this pricing process.  Lowering prices does not necessarily increase sales; sometimes the opposite is true because your jewelry will be seen as more valuable, more in demand, and more compelling to own.

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Many people have heard of Cartier. It has always been considered as the best brand in the world of jewelry. Its diamond jewelry attracts numerous imperial aristocrats and the public celebrities. Almost everyone dreams of owing a piece of jewelry of Cartier in order to present the honored personal status. Its high blood ensures Cartier to become a most famous and well-known brand of jewelry. Cartier was established in 1847, owing the fine reputation as the emperor’s jewelry business and the emperor of jewelry business. Since it was established, it has made the high-quality jewelry ornaments for various countries’ imperial families as the jewelry maker second to none in the world. You may wonder why it can have so much reputation and be popular among people for such a long time. Now I will introduce several classical series of Cartier and their styles and characteristics. Maybe you will understand the reason.

The diamond series of Solitaire 1895

This series was promoted by Cartier in 1895 as the engagement diamond ring. Till today, it is still presented one of the classical series of Cartier. It used the simple crustification of four fingernails. The designer minimized the weight of the body of the inlaid place by this fine slight mosaic technique to highlight the brilliance of diamond with emphasis. This classical section is also imitated by numerous jewelry manufactures.

The platinum gold series of Love

This series is distinguished by its unique screw design created in the 1970s in New York. It was inlayed by the diamond and recited the love forever to remember faithfully. This section has become the best mode to express love and the amulet of the loyalty to love.

The series of Ballerine

It got its name on account of its bright-like stone cutting method. Its diamond has the most dazzling brilliance. Its design made use of the most excellent technique and the classical crustification principle.

The series of Declaration

This series used the sincere platinum gold to mount the single bring diamond with the best cutting. The diamond’s shapes are circle primarily, which manifest the union of classic and modern perfectly.

These main classical series of Cartier are the most reprehensive masterpieces. And they all have a huge affection on the world of jewelry. 

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When the economy turns bad people will start cutting down their everyday expenditure. Families are extremely likely to start cutting down their everyday expenditure by not buying luxurious items. They would stop purchasing goods like a new car, property, or something elegant like jewelry. The jewelry business is suffering a great amount of lost because of this. Jewelry is a significant piece of artwork where people would be spending countless amount of money. Jewelry symbolizes love, life, liberty, wealth, and fashion. How can you still buy jewelry and cut down on everyday expenditure at the same time.

There are something called Cubic Zirconia jewelry. This category of metal is relatively cheap and can be made into cubic zirconia rings, bracelets, necklaces, clip on earrings. By Ming, and earrings. It looks approximately the same as diamond. The only dissimilarity is that it isn’t as hard as diamond. They are often times compared to each other as if there were no differentiation amongst them. Cubic Zirconia is one of diamonds closest competitors. Of course they are not as good of a value as diamonds. So CZ jewelry can be a replacement for the expensive diamond. Instead of entirely stopping the purchases of jewelry, buying something that are indistinguishable works just as well. This may help the economy get back on track.

CZ rings instead of diamonds rings for an anniversary is better than nothing at all. They will be grateful for getting something. At the same the economy will not be in as bad of a recession. They might be able to overturn this tragic time into something better.

For more information, Check the Following:
Cubic Zirconia Rings
CZ Rings
Clip on earrings. By Ming

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Hello all, Kerry Ryan here…

Random thoughts…

I heard this quote the other day “there are no true friends” I could not disagree more, let’s start with my wife, she is my friend and we become stronger friends daily, long before the engagement ring, long before the wedding ring she became my true friend, there is an unseen trust and understanding can’t fully explain it but anyone who has it will understand it.

In my circle of life I have been blessed with true friends, these people got my back, will be there in the middle of a dark rainy night if needed, would bail me out if needed, I haven’t needed that in a few years but its good to know that they are there.

So my wish for you is true friends, it’s a blessing!!!

Now more then ever our friends, family and partners are needed and in turn to show appreciation for them is also needed, reward them this year. I personally recommend Diamonds but a warm hug, a soft kiss, a round at the bar may be all that is necessary.

 
The ring pictured above is a round diamond set with two matching round stones in a platinum setting with micro pave in the shank. The side stones accompanying the center are a match like true friend, they may not match perfectly (diamonds are like fingerprints and snowflakes while they are close they are never exact) but they work quite well together.

Have a great day!

Kerry Ryan
Shenoa Diamonds

Diamond District
New York, NY

P.S. Veterans Day just passed, my hope is that you Thanked the men and women for their service and remembered those that are not here to thank; for their service we are free, please always remember that.

With over twenty years experience in the diamond and jewelry busines as the design manager of Shenoa Diamonds, Kerry gives you the insights to many behind the scenes beliefs of jewelry business as well as his personal thoughts.Shenoa Diamonds has been offering certified loose diamonds, engagement rings and fine jewelry since 1980 in the world famous New York Diamond District on 47th Street. Shenoa Diamonds is specialized in Certified Loose Diamonds, Designer Engagement Rings such as Verragio Engagement Rings, Wedding Bands such as Benchmark Wedding Rings, Shenoa Diamonds’ own private collection of Signature Engagement Rings and Wedding Bands, Fine Jewelry and watches.
Shenoa Diamonds being a direct importer of diamonds from overseas vendors can offer shoppers valuable discounts compared to other stores and an impresive selection.

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