No one really enjoys talking about prices. But I think this is a subject I need to bring up. I am often apologetic about my prices. And yet I’ve been told by both clients and other jewelers that it is ridiculous to feel this way. Nevertheless, the price of my necklaces often embarrasses me.
Which is precisely why I feel it is important to bring up the elephant in the room. How do I arrive at a price for one of my necklaces? Do I just pick a number and think customers will be fine with this? Absolutely not! Frankly, it always comes as a bit of a shock when I make my assessments as to what a necklace has to be priced at.
Putting it quite simply, the price of a necklace is based on the cost of producing that necklace. That is, the cost I have had to pay for the pendant, beads, silver or gold, and all the other elements involved. Then there are repairs, alterations to a pendant, and a whole host of unseen costs that go into making a necklace. But this never includes my own time to create a necklace, which can take up to 5 days, depending on what is involved. And then there is travel. I go all over the world to find my elements, but this is not part of the price either. If I charged for my own time, it would make the necklace simply prohibitive.
Another factor is rarity. When I find an element that I know I will never be able to unearth again, that element becomes like gold dust. This can include stones, crafts or antiques. What makes my necklaces special are those unique, often antique pendants and elements. It is what gives the necklace character and individuality. But it comes at a price, which has to add to the price of the necklace. Sadly, once I learn that I will never be able to buy certain stones of quality or colour, because the supply has dried up, that stone then becomes a rare commodity and its price goes through the roof. This unfortunately forces me to increase prices, which I will always try to avoid doing, but sometimes it is simply unavoidable.
I hope that this blog goes some way towards explaining my prices.
