Thursday, September 23, 2010

Little hoops

One thing I've made since the beginning of time is little 14k gold wire hoops. The shapes have changed over the years but it's the same basic idea and it's something little I've become known for. Plus it's what I tend to wear between shows since I don't have to take them out for weeks if I don't want to. Just a little hoop with some character.

These little hoops now sell for $72. With the price of gold skyrocketing upward, I thought I better do a time study and go through the pricing since it's been a while. What I discovered was shocking. I need to be charging $101 a pair for my little hoops based on today's costs! Holy crud!!!

So what do I do? During these tough times I've been selling a lot of pairs at my shows and am planning on putting them on Etsy for the holidays. But what do I charge? How much will people be willing to pay? What can I sell them for where I make a profit and yet it's still a good price for my customers? What a dilemma...

1 comment:

Luann Udell said...

IMVHE (In my very humble experience), people who wear a lot of gold know how much it costs. And people who wear a lot of gold are willing to pay for it.

Your work is beautiful, Bonnie, believe in it!