Getting the Price Right for Your Wholesale Jewelry

SE14-009 Wholesale Jewelry- White Rhodium Earrings

LOA196 Wholesale Jewelry- Montana CZ Gold Pendant

The price of wholesale jewelry items depends on a lot of factors, such as location or materials. While there is no exact formula to help determine how much wholesale earrings or wholesale rings cost, there are a few factors that should be considered which will ultimately weigh in when deciding on the final price off wholesale jewelry.

First, it’s important to know that low prices don’t necessarily make wholesale jewelry sell quickly. Business owners reduce prices of wholesale jewelry to the extent that they are cheated out of profit just because they believe that lower-priced wholesale jewelry pieces will be purchased faster. Many wholesalers practice this to generate income as quickly as possible. This, however, is not always the case. Unreasonably inexpensive wholesale jewelry may cost suspicion among consumers – they may think the piece being sold has flaws or something is wrong with the item. Keep in mind that if a customer wants something, they will pay whatever price you ask for.

Secondly, take into consideration overhead. Overhead are costs not directly related with merchandise but rather, are those little extras other than supplies needed to run a wholesale jewelry business. Some examples include office supplies, travel (such as participating in events), and tools. It’s important to factor overhead in because they do cost money and not including it in the price of wholesale jewelry will cause your business to lose money.

Labor costs are equally important. Whether you are selling handmade wholesale jewelry or not, a worker somewhere has to eat. Determining labor costs mean being realistic how much is needed to make per hour and figuring out approximately how long it takes to produce wholesale jewelry pieces. By having a general idea of how much time wholesale jewelry needs to be produced, it will greatly help you determine the price of wholesale bracelets or wholesale necklaces.

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LO860 Jewelry - Black Diamond CZ Necklace

Other pricing variables include choosing between selling wholesale and retail. Setting wholesale and retail prices early on save you time in the future should you want to sell wholesale jewelry to a shop or to individual consumers. Where you plan to sell wholesale jewelry is also important because prices are different should you want to sell at flea markets or at high-end galleries.

As a final note, if you want your wholesale jewelry business to last, take it seriously by pricing wholesale jewelry right, paying yourself the right amount of wage, covering all expenses, which will eventually turn into profits for your business.