fresh picks

“An Age Old Question, HELP!!!”

   

Description from Mary S - Sweet Chick: I'm down to the wire chickies and I need your advice. I have an meeting tomorrow morning with the managers of a shop and I still can't decide how to price my items.
If they decide to take my pieces on consignment, they will take 30%. The question is, do I add 30% to make up for what I could make at a show or do I consider this a wholesale price and sell it as I normally would?
The formula I use for myself is cost x 2 plus $10 for necklaces, $7 for bracelets and $5 for earrings.
Am I underpricing? Help!! Please!

Chatter


Buy the Beads!

16" strand $14.70 OUT OF STOCK
½ strand (loose) $7.85 OUT OF STOCK

More Photos & Ideas »

16" strand $21.70 OUT OF STOCK
½ strand (loose) $11.35 OUT OF STOCK

More Photos & Ideas »

16" strand $8.70 OUT OF STOCK
½ strand (loose) $4.75 OUT OF STOCK

More Photos & Ideas »

16" strand $9.70 OUT OF STOCK
½ strand (loose) $5.30 OUT OF STOCK

More Photos & Ideas »

16" strand $8.90 OUT OF STOCK
½ strand (loose) $4.95 OUT OF STOCK

More Photos & Ideas »


Read the comments (or add your own)

  1. Mommykat Bubbly Chick
    Mommykat Bubbly Chick says:

    I have raised my price to cover 30% that a school took from items sold. I would do that personally, if you are uncomfortable with that, try adding 15% so that you are not loosing money. Thats my thought! 8)

  2. No Photo
    Mary S - Sweet Chick says:

    :-D Thank you Lorrie!!

  3. No Photo
    Luv2bead - Little Chick says:

    You could also say something like, “I need such and such an amount of money (say $35) for an item. I don’t care what you sell it for, as long as I get that $35.” Therefore they could raise raise the price 40% if they thought it would sell, but as long as you get what you need for the materials and work (plus a little extra for good measure ;) ) then it really doesn’t matter what they sell it for. That’s what I do with someone in PA. …Just a thought.

  4. No Photo
    Mary S - Sweet Chick says:

    Thank you Nicole. :-D
    I’m not sure exactly how they will price them. Consignment is one option and buying them from me is another. We’ll be discussing options when we meet. But when speaking on the phone with them, they said consignment is how they do most of their business.
    I’m not even sure if I should put prices on them yet. Or take a price list with me just wait and see what we can agree upon……

  5. Kitty Chicky Cat
    Kitty Chicky Cat says:

    Beautiful pick! Congratulations on selling in a shop! That’s so cool!!
    I hate pricing!! I triple my costs (which may be why I have trouble selling simple 6-$10 earrings! lol). I figure once my expenses to cover my expenses, once so I can “buy” the exact amount of supplies again to make the exact thing, and once for labor and profit so I can expand.
    I like Bubbly Chick’s suggestion, that sounds like a good idea! Pricing is hard! If you set the prices too high for the shop’s clientele my guess is the people you’re meeting with will probably say something but if you set them too low they won’t. You know how much expense, time, and emotional energy goes into each piece so trust yourself!! Don’t be afraid to charge what you need or want to for your work, you know the best what they’re worth!!

  6. Kitty Chicky Cat
    Kitty Chicky Cat says:

    Although, looking at my math I think it’s skewed! Augh!! lol *sigh* back to the pricing board for me!

  7. sunny chick
    sunny chick says:

    Congrats on featuring your jewelry in a shop! I agree with the other chickies! Best of luck to you! ;)

  8. J Yee smart chick
    J Yee smart chick says:

    Mary, what a beautiful Pick, love the vibrant blues and soothing grays – and a fabulous question, so glad you’re talking with a consignment shop about selling your jewelry, a big step!
    Lorrie, Nicole and Kitty Chicky, so great to read all of your advice on pricing, which I’ll keep in mind – I’m not ready to sell my stuff on consignment yet – would like to revive my jewelry making and brush up skills the rest of this year, then create an inventory of pieces and learn business basics such as pricing and selling options – from home shows to consignment etc. Mary, wishing you all the best in your talk with the consignment shop, here’s to your jewelry and you finding a good match that benefits both of you – a place that will represent and sell your jewelry fairly and provide you the publicity you deserve, and for you to receive the business you deserve!! Looking forward to hearing how this turns out for you. :)

  9. No Photo
    Chicky Zee aka Alice says:

    Mary ,I too agree with the other chickies. Beautifu pick and congratulations on selling in a shop!

  10. Chicky Suz aka Susan Z
    Chicky Suz aka Susan Z says:

    Congrats on tentative sales! They say that to make a profit you must charge 3 times the cost. If the shop is going to take 30% you must price accordingly so you don’t lose. Start high, you can negotiate going lower but you can never negotiate UP! LOL!!!

  11. No Photo
    Mary S - Sweet Chick says:

    Thank you all for your suggestions, advice and good wishes! You girls are the best!
    After meeting with management, we’ve agreed on Nicole’s formula! I tell them what I need to have out of each piece and they add whatever amount they wish. :-D
    I’m happy. Now we just have to hope there are lots of customers and sales! ;-)

  12. Classy Chick JbyJill
    Classy Chick JbyJill says:

    Mary, what a gorgeous pick!! Congratulations on selling in a shop. That’s very exciting and I hope it goes well for you!!

  13. LAshe
    LAshe says:

    Truly gorgeous pick! I just added it to my favs!

  14. No Photo
    Luv2bead - Little Chick says:

    It sounds like things went well! Make sure you keep us updated on how things are going! :D

Comments are closed for this Fresh Pick.

Design Your Own!

The Fresh Pick on this page was designed by a customer. You can design your own Fresh Picks, too!

Or, you can browse more Fresh Picks at Lima Beads.