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Post Info TOPIC: In need of some honest pricing help please.
JMR


Dooney & Bourke

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In need of some honest pricing help please.
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I hope you guys don't mind me asking - but I need some advice on pricing my new line of sterling jewelry and I really can't think of anyone better to ask than you guys!


I have been looking around the internet for similar items and pricing ideas - and I am really surprised at how varied the prices are.


I dont want to overprice myself - but I dont want to underprice either - it takes me a long time to make this jewelry. It's all handmade and high polished sterling silver.


I am going to post some pics - can you guys give me some HONEST ideas of what you would pay for them max) retail - I am curious to see if it's inline with what my ideas are.  Any feedback would be appreciated!!!


TIA!













Earrings: They are also hammered and high polished

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Metric


Gucci

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Wow, Jen those peices are gorgeous! I don't really have an ideas for you- I am just starting to get into buying fine (not costume) jewelry. But let me know what you decide, I want the first necklace.

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Pepper


Kenneth Cole

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Hey JMR -  Those pieces are beautiful!!!  I make jewelry and always am trying to decide on reasonable prices for my pieces.  I can't tell what the size of these pieces are and how much sterling silver you used and  the time it took to make them. I always end up selling my pieces for way less than they probably should - so I'm not sure if I'm a good estimator.  I don't know if all the pieces are the same size -  but I'm going to guess that you could sell them for $75.00.  Did you fire the pieces and file the pieces too? 


I hope that helps.  Maybe?



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Kel


Coach

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Wow beautiful pieces. I would go with Pepper I don't know how big they are, but I would say $75 and more for the dragonfly. I would say like $125-$150 for that. As for the earrings I have no ideas. Again, I don't know about the whole price thing either.

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jen


Kate Spade

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Hmmm, I guess I'm cheap. I'd pay around $50 for the necklaces and maybe $60-$70 for the dragonfly. $40 for the earrings. I may not be much help because I buy cheap jewelry usually. You stuff is amazing though! I'm sure there are people out there who will buy that stuff if you charge $200 a piece! But then again, there are cheapo's out there like me!

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Andrea Julia


Coach

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I LOVE the firefly necklace.  Are you going to have these pieces at Shecky's?  I think you could get about $150 for that necklace, but for selfish reasons, hope you will sell it for less :) .  For the other necklaces, $75 sounds about right.  The earrings, probably about $40.  But I know nothing about jewelry pricing.

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atlgirl


Gucci

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My feeling is that asking for pricing feedback is okay, but really you should have a set pricing structure that you can use to keep everything consistent in all your collections / designs. I realize that soldering (I am assuming that you soldered these from sheet metal or wire) and fabricating is different than the beaded jewelry you have previously done, but still some sort of pricing structure is essential.

What I do is figure my COG, add labor, overhead, and profit margin, and that all equals my wholesale price. Then I multiply that by the appropriate number to determine retail. Keystone (multiplying 2x) is still pretty standard, though being in New York you could possibly do 3x? The unknown in all this is "what the market will bear", of course, but again with your location - your market will likely bear higher prices than say, Akron, OH (no offense to anyone from Akron).

Anyway, that's what I'd do. FWIW

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honey


Gucci

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i think a fair range would be from $75-$125. $75 being "oh that's a bargain," and $125 being higher, but not exorbitantly so. when i think of your jewelry i consider it along the lines of a lot of stuff that i see on girlshop, and that's (to me) a reasonable price for a unique piece by an emerging designer. 


 



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JMR


Dooney & Bourke

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atlgirl wrote:

My feeling is that asking for pricing feedback is okay, but really you should have a set pricing structure that you can use to keep everything consistent in all your collections / designs. I realize that soldering (I am assuming that you soldered these from sheet metal or wire) and fabricating is different than the beaded jewelry you have previously done, but still some sort of pricing structure is essential. What I do is figure my COG, add labor, overhead, and profit margin, and that all equals my wholesale price. Then I multiply that by the appropriate number to determine retail. Keystone (multiplying 2x) is still pretty standard, though being in New York you could possibly do 3x? The unknown in all this is "what the market will bear", of course, but again with your location - your market will likely bear higher prices than say, Akron, OH (no offense to anyone from Akron). Anyway, that's what I'd do. FWIW


That is exactly what I do too!....I have pricing in mind for these items based on my cost, work, etc... but I wanted to get an idea if my pricing was in range with what people would pay for it, so I wanted to ask blindly instead of saying "would you pay $75 for this" for example.


 


AJ -I will have these at Sheckys - I will be there wed/thursday - will you be there either one of those days?



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bliss


Dooney & Bourke

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I have no pricing information for you, but I love your jewelry, especially the earrings.

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Andrea Julia


Coach

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JMR wrote:

atlgirl wrote: My feeling is that asking for pricing feedback is okay, but really you should have a set pricing structure that you can use to keep everything consistent in all your collections / designs. I realize that soldering (I am assuming that you soldered these from sheet metal or wire) and fabricating is different than the beaded jewelry you have previously done, but still some sort of pricing structure is essential. What I do is figure my COG, add labor, overhead, and profit margin, and that all equals my wholesale price. Then I multiply that by the appropriate number to determine retail. Keystone (multiplying 2x) is still pretty standard, though being in New York you could possibly do 3x? The unknown in all this is "what the market will bear", of course, but again with your location - your market will likely bear higher prices than say, Akron, OH (no offense to anyone from Akron). Anyway, that's what I'd do. FWIW That is exactly what I do too!....I have pricing in mind for these items based on my cost, work, etc... but I wanted to get an idea if my pricing was in range with what people would pay for it, so I wanted to ask blindly instead of saying "would you pay $75 for this" for example.   AJ -I will have these at Sheckys - I will be there wed/thursday - will you be there either one of those days?
I will be there Wednesday!

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atlgirl


Gucci

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That totally makes sense. I wish you a great show at Sheckys!

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shopgirl82


Chanel

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those pieces are GORGEOUS!!!  i absolutely love the first one and the firefly.  i would say for the necklaces, $100 + or - $25.  for the earrings at least $50 maybe up to $70.  for the firefly necklace $125 + or - $20/$25.  those are prices that i would expect to see/pay for those items.  i think you should use a system like the one that atlgirl suggested though. 



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fashionista L


Coach

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No ideas on procong, but I too love your jewelery!! It's so pretty!! I really like the 1st necklace!!

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mikacat


Coach

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Jen-


Jason is sitting next to me on the sofa and said your new pieces are really cool and he likes them a lot!! I love the first necklace!



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JMR


Dooney & Bourke

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Thank you so much everyone - I REALLY appreciate all of your feedback and advice. You have really helped me out so much.


AJ -I only have 4 dragonflies - so come by early to take a look! (I am sharing a table this year with Curliegirl)


Mikacat - thank you and tell Jason I say hello!!



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