Hi I have recently started selling jewellery. I started selling glass tile pendants which I would charge £7-8 for. But I have started selling floating memory lockets and I have to charge more because of suppliers costs. Do you think £18-23 is too much depending on how many charms they choose?
Pricing is always hard for me too As a customer probably I will be willing to pay up to £20 for such lockets (depending on that one which is on your shop now). Over £20 in my opinion should be something eye catching and outstanding from similar ones. I know that sometimes materials are expensive but customers usually don’t see that hidden price beneath the item.
Hi. I did a blog post on pricing a while back - hope it helps!
Thank you for sharing this
I’m never sure what too charge. Some people say if an item is too cheap, then they won’t buy it because they think it will be rubbish but if you price it too high, they won’t buy it because it is too expensive !!! If your lockets sold well before, I would be tempted to price them at the cost you think and if you don’t get any further sales of them, maybe reduce them a bit if you can.
You have to price to make money, it doesn’t matter if you wouldn’t buy it at that price, there are others who will if the listing is good - photos, description etc.
If you can’t offer the item at a wholesale rate, it hasn’t been priced properly.