Topics: Is Your Jewelry Too Expensive?

Q.
Some prospective buyers at a show where I was exhibiting told me that my jewelry is too expensive. Should I lower my prices?
- Stephanie
A.
A piece's selling price is related to tangible things (like the cost of the elements) and intangibles (like your skills or trends). It is worth what a willing buyer will pay for it. The next time a prospect says an item is too expensive, ask, ''Could you tell me more about why you think so?'' You may find that they wouldn't pay that price for any piece of jewelry, which means they weren't a true prospect for your work. - Dr. David Weiman
Dr. David Weiman is a respected expert in the field of marketing and selling handcrafted jewelry and a well-read contributor to Fire Mountain Gems and Beads "Ask the Experts". He is the author of Introduction to Marketing and Selling Jewelry, The Jewelry Selling Answer Book and The 5 Keys to Selling Handcrafted Jewelry. A free newsletter on selling handmade jewelry is available at his website: www.marketingjewelry.com.

Recommended Just for You