Folksy Ltd

Under priced by £10! A pricing lesson learnt :(

So…I did my costing for our sterling silver jewellery around three years ago and haven’t changed the prices since selling on Folksy. Last night while costing some new jewellery I checked the prices of my casting for some of my older designs and found that a lot of our stock is now under priced, up to £10 on some pieces :frowning:

I’ve made a note in my diary to check my costing again in 6 months since the price of silver seems to fluctuate so much, I barely made a profit on some pieces sold before Christmas because of the difference.

I would urge you all to check your costing if you haven’t done it in a while otherwise you might find that you want to kick yourself as I do right now lol
Dani x

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Blimey! I’m a bit surprised as I thought the price of silver had dropped over the last 3 years maybe its different for casting grain. I’ll just go and check some of my costings though…

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It could be the casting charge our outworker adds that’s added to the cost rather than the grain itself. It was only when I compared invoices I noticed the increase. The price of the gemstones we use has gone up quite a lot too :frowning: a stone we used to pay 45p for is now £1.20! I’ve compared suppliers and they’re all charging the same so it’s obviously just inflation.

Findings, tube, sheet and wire are holding steady by the looks of it, prices for those haven’t changed much x

oh gosh that’s quite a lot :open_mouth:

Good job you did a costing. I’ve had to increase my prices a wee bit a couple of weeks ago as the price of my yarn has gone up.

It’s something we have to keep an eye on really no matter what materials we use to create our items.

This is a great thread to remind us all, well done to bring it up.

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