Pricing Jewellery, Mother's Day & Aquamarine - March's Stone
 

This month is about pricing jewellery, Mother's Day & March's gemstone aquamarine.  Scroll down, or click a link on the html version.

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Pricing Jewellery
Do You Need to Increase Your Prices?
Mother's Day
Aquamarine - March's Stone 
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Pricing Jewellery

Custom handmade jewellery is becoming as popular as ready-made pieces on the high street

Artisan handmade jewellery is now as increasingly popular as buying ready-made pieces on the high street. People tend to flock towards shops on eBay, Etsy and Folksy to find quirky, handmade pieces, knowing that there probably won’t be many other people wearing that same piece as them which makes it feel exclusive.

Jewellery that is handmade has much more of a personal feel and it really does feel as though you have a unique piece and you know every single item – no matter how many produced – and tends to look that slight bit different. It definitely provides more of a conversation starter than a generic, mass-produced piece of jewellery from a high-street chain!

Never Sell Cheap
If you sell too low, you’ll run out of stock, work too hard, or never make any profit.  But if you sell too high, you’ll feel better because you’ll have to work less, and you may at least earn some profit. 

If in doubt of what to ask - always charge more, rather than less

Making money out of your handcrafted jewellery is just like every other business: buy low, sell high.

Selling Jewellery for More Profit

A sale involves creativity, feeling, and imagination - as well as the service of design and exchange of money.  Think about what you’re really selling.  Is it jewellery? 

You’re selling beauty and sex appeal - and the benefits these bring

Profiting from custom jewellery is all about selling a BENEFIT. 

Benefits
That necklace you took hours to craft and even longer to design, will make the wearer feel better.  It may make them feel richer or boost their confidence.  Because of this they might get a new job, make more money, sell more, attract a partner etc.  Or the necklace may just make them more comfortable in a way a nice meal would.  Whatever, the benefits have no relation to and far outweigh material cost. 

The more style your design, brought about by good taste, creativity, and fashion sense: the greater the benefits, and so the higher the price. 

Customers feel value for money in originality, rarity, and quality: not in price.  

Many sellers think that if their prices were lower, customers would buy more. Business is a game of margin, not volume. Price reductions can create more problems than they solve:

·         Decrease net profits.

·         Lead to the purchase of lower quality or unreliable suppliers.

·         Require even more sales to make up the difference in revenue.

·         Need extra stock and time to make more jewellery.

·         Increase customer demands to drop the price even lower.

•        Increase complaints - customers looking for the cheapest are usually trouble.

Sell Benefits, not Products
Look for the BENEFITS and hidden values to sell to your customers and prospects.  Help them see how great their life will be with your jewellery, and you've got a customer.  Set your prices high and hold fast.  Don’t be afraid to shout your price, believe in it.  Remember how long it took you to create the piece.

It’s more work than you think
You had to source the beads, buy them, get them home, design the jewellery, make it up – and all that’s before the time and expense of selling.  Think of the risks: all that and they may never sell. 

However, you can’t justify your selling price to the customer by the work involved.  They don’t want to know.  I’m just trying to justify you to charge a fair price - a fair price for you! 

Most customers don’t buy on price alone.  If you’re unlucky enough to attract this type of buyer - then they’re likely to complain, pay slow, and waste your time.  If you market correctly, customers will be anxious to do business with you.

Don’t Copy Losers
There will always be someone selling cheaper.  Someone willing to go out of business before you!  Most ventures fail because they sell their products/service too low. 

Customers Will Pay!
If you truly sell your jewellery, they’ll purchase whatever the price.  If a prospect doesn't buy because they claim it’s too expensive, they probably wouldn't have purchased anyway.  Selling has nothing to do with the price of the product.

By the time your customers finds out about the price, they should be determined to purchase no matter what the cost.  Say how wonderful the piece is. Talk of aesthetic value: beauty, design, style, harmony, balance.  Leave price until last.

Gain from the Competition
In times of recession it’s easy to gain new customers from your competitor’s mistakes.  They will flock to you if you give them fast delivery, high quality, guarantees and after-sales service - whatever the price.  Notice how smart businesses’ raise their price in a recession. 

Do you Need to Increase your Prices Right Away! 

People have less disposable income during the recession and with increased competition from other jewellery makers, I'm sure you have lowered your prices.  However, have you gone too low?

• Do customers complain about your prices? 
  
• Do buyers always haggle before paying? 
  
• Do most customers buy just a single item from you at a time? 
  
  

If the answer to these questions is NO, then you’re under charging and need to increase your prices.

Sometimes it’s easier to sell for more, rather than for less!

What Price Change does to your Bottom Line

Most people don’t realize that small changes in the selling price make huge differences to your profit.

If your costs of materials and time to make the design come to $30, and you sell for $60, then you have made $30 profit. 

If you think you may sell more by cutting the price 20%, then you will only make $18 - 60% less profit.  $60 less 20% = $48 sales price, less $30 cost = $18.

However, if you increase the price 20% to sell at $72, then you will make $42 - 39% more profit.  $60 + 20% - $72, less $30 costs = $42.

Don’t be afraid to charge more.  Your customers will respect you for it - although they won’t let on.

What Beads Really Are - necklace beads represent who we are

My son brought me an antique Mardi Gras necklace from New Orleans. He was so proud to have found it and I thanked him, but doubted the design.

The necklace is a mishmash of beads, no two alike - making me suspect that it was simply a bunch of beads the dealer had left over, strung together and quickly sold. Too many shapes and colours, and nothing seemed to be put together with any thought.

However, now I realize that it is amazing. This is a necklace of celebration with all of its nuances being a portrait about life. Living is filled with everything on that necklace, all of those unique and varied beads. Like life, like people. Some are like the flat beads, depressed with no shine. Others are like the big bright shiny beads.

Then there are the “low self-esteem” beads. They are not only the smallest, but also the ones that seem to cling closely to the cord. People who are most like these beads are usually the partner of the shiny bead. You have to look carefully to see them, but when you do, you see how lovely they really are and what they have to offer.  Each bead has its own uniqueness and quality.

Something magical happens when we dare to be different

Something magical happens when we dare to be different and stretch ourselves into new experiences, and meeting new people. Beauty occurs when we love our differences as well as our similarities.

If I unstrung the necklace and picked out the prettiest bead, it would be only that; one pretty bead. If I restrung them with only those that are basically the same, there would be nothing special to look at. It is the randomness of the beads that gives my necklace its beauty, one bead complimenting the other.

If you cut yourself off from life and others, or choose to relate only to those who are like you, living would be dull. Joining a group that accomplishes new experiences, travels to new places, stretches our boundaries and brings out the beauty of living – same as a partner who is unlike us but completes us makes for a better marriage.

The man who sold that Mardi Gras necklace knew what he was doing. He created a festival, just as live should be.

From an article by JoAnne Wogulis.

Mother’s Day Beads 

Mother's Day 2013 in the UK is Sunday 10th March, and in the US Sunday 12th May.

During the 1600's, England celebrated “Mothering Sunday" on the 4th Sunday of Lent (the 40 day period leading up to Easter).  Then, many of the England's poor worked as servants for the wealthy. As most were employed far from their homes, the servants would live at the houses of their employers. On Mothering Sunday the servants had the day off and encouraged to return home and spend the day with their mothers.

In the United States Mother's Day was first suggested in 1872 by Julia Ward Howe as a day dedicated to peace. Until 1914 when Ana Jarvis, with the help of the church, persuaded President Woodrow Wilson to make the second Sunday of May a national holiday in honor of the anniversary of her mother’s death.  However, many countries celebrate Mother's Day at different times throughout the year - except Denmark, Finland, Italy, Turkey, Australia, and Belgium who also celebrate Mother's Day on the second Sunday of May.

What would mother like on her special day?  Beads of course!  Make a special necklace or bracelet as a gift for your mother and mother-in-law this year – or purchase one already made.  Jewellery is always appreciated, and gains sentimental value with age allowing Mother to always remember who it came from. Pearls are great, but any pink or warm-coloured stone jewellery would be appreciated!  

See our pearls at MrBead.com or MrBead.co.uk

Aquamarine - March's Gemstone

Aquamarine is March’s stone – a blue-green gemstone from South America, meaning Water of the Sea. The stone of sailors, believing it protects them. Folklore also says that aquamarine protects against gossip, but will pick up spirits. It is an excellent stone for meditation, bringing great peace and serenity.  Use it for your spring jewellery designs.

Aquamarine is the treasure of mermaids, and those legends have it that for aquamarine to be truly powerful, it must be immersed in sea water and bathed in sunlight. The gemstone is also supposed to have powers that reach to land too, helping married couples solve their problems and drive off evil.  Aquamarine is associated with the thymus gland and is very soothing worn as a necklace. It will also help coughs, reduce fluid retention and calm the nerves. The Romans used aquamarine for stomach troubles and believed it could cure liver and throat problems. Aquamarine brings courage, aids quick intellectual response, and gives peace while protecting the aura.

Colour ranges from a very light turquoise blue to a bluish green. Darker blue colours are the best with greener being less valuable. Check the clarity of the stone. Because aquamarine has a light pastel colour, it is important that it be free of flaws or inclusions. Examine the cut and check light reflects evenly off the surface of the gem and that there are no scratches. Look at the stone from several different angles to be sure.  Aquamarine is usually heat treated and sometimes irradiated. However, it will become paler if left out in the sun. Clean aquamarine in with warm soapy water and a soft bristle brush. As with all gemstones, protect from scratches and sharp blows.

To see all aquamarine in our US bead store click MrBead.com or MrBead.co.uk                to top 

Special 20% Offer !
Sample our beads with a whopping 20% off any order from our MrBead bead store, just key in AQUAMARINE at the checkout and click "Redeem Coupon".

No minimum order, but offer only valid until Thursday 7th March 2013 only - so act now!
Only for use in our stores at MrBead.com & MrBead.co.uk and not valid with any other offers or eBay.

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