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Pricing Wholesale Jewelry
Pricing is an issue that many people in the jewelry business
often worry about. However, there is a method that you can
easily use, whether you purchase jewelry wholesale or make your
own jewelry. Pricing is very important. You don’t want to charge
too much, because you won’t sell anything. On the other hand,
you want to make sure that you charge enough to make a profit.
If you purchase your jewelry at wholesale prices, a markup of
15% to 30% is usual, and people will pay these prices. In the
grand scheme of things, apply the 30% markup, and make that the
‘regular’ price. When you need to move merchandise hold a sale,
and use the 15% markup price as the sale price.
If you make your own jewelry, determine the total cost of the
piece, including the cost of supplies, shipping, warehousing and
packaging, then apply a 15% markup. With the 15% markup, your
jewelry will be priced at the wholesale price. If you sell the
jewelry to the general public yourself, as opposed to selling it
to retailers, apply the retail price, which in this case would
be about 45% above your costs.
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