Im on a learning curve for selling jewellery

Last Friday I launched my new jewellery range locally. For two years I have sold my jewellery at events and fayres, but I never really took it seriously, it was my hobby and I did it purely for the love of it. Now of course things are a little different, and although I still do it for the love of it, the sale of my jewellery makes up a percentage of my income and I need to be a little more serious to ensure sales.

I hadn’t raised my hopes of selling an awful lot during the evening, and set a figure in my head, knowing I’d be happy if I at least make that. Within 30 minutes gone over my target (and consequently had to really stop myself jumping up and down in not only happiness, but I admit, a certain amount of relief too!)

I got lots of feedback during the evening, and I thought I’d share two of the main points that came up.

Offering a ‘shortening and lengthening’ service. One of my customers was buying for a friend. Her friend was a curvier lady who struggled to find suitable lengths in bracelets and necklaces. I had a long chat with this lady, who had used a certain high street shop in the past to buy her friend jewellery, but that shop had since closed – and with us being on an Island, she was unable to visit another store of the same chain without getting on a ferry!

A lightbulb pinged on in my head, as I realised that I really must promote this service much louder, so my customers are aware that whatever the piece, they can have it tailored just for them. Shorter or longer! It’s worth keeping in mind when making jewellery that “standard” measurements are for “standard” people, of which are very few and far between!

Setting the right price. I really struggled with this, in the current financial climate, I want to make sure I’m offering value for money and I personally want my jewellery to be accessible to everyone (although some will make for a specific market, or age group, etc). The old adage “you get what you pay for” still stands, and if you price yourself too low, people will think there’s something wrong with the wonderful piece you have created!

The rule of thumb I use (although of course there are many other ways to find the ‘right’ price) is to set an hourly rate for myself, whether something takes 15 minutes or 3 hours (or more) to make, I set the price to cover my hourly rate (or percentage of) and the cost of stock used. I find I am happy within myself to charge these prices. However, I did receive many comments that my items were “too cheap”! (average price of a necklace made in base metal with glass beads was £15).

I’m on a learning curve, and although I’ve been doing this for a couple of years, I find I’m still learning every day – I’d be really interested in hearing your own experiences of selling, good and bad!

Visit Cora’s website: www.coralee.org.uk