Silver is now earning the same attention as gold for investors and collectors. Since the price for gold jewelry is up high, the jewelry buyer shifted their interest towards silver jewelry. They also find thatsilver jewelry is durable, non allergic, light weight to wear and hasattractive design. But the fact that a price of silver is a lot cheaper than gold make jewelry buyer assume that the price tag of silver jewelry must be not so high. This is what people who selling quality silver jewelry have to deal with while selling their piece.
Behind each piece of beautiful silver jewelry are effort, time, creativity and labor to turn raw material into finished goods, it involves an innovative design and process. The metal has to be melted, molded and cast, polished and assembled. Most of silver jewelry accented with various stones, the cost of the stone is also resulted in the major part of the total cost of the jewelry. There are a few things to consider after setting aside piece of jewelry to sell, including:
Price per gram: The price of silver per gram that use in the piece of jewelry is the most important information for determining the price. Due the fact that silver is considered a precious metal, this is the raw material cost of a piece of a silver jewelry.
Labor Cost: There are many processes to turn raw material in to finished goods. Labor and craftsmanship are associated with most of the cost of silver jewelry, especially for jewelry that requireshigh level of craftsmanship.
Other materials: The cost of any material added to the piece of jewelry all so cost. For example a silver necklace that has fresh water pearl with rhodium finished may cost double of the price of silver to make because of the price of pearl and rhodium. Rhodium is more expensive than silver because of it is tarnish resistant properties.
Shipping Cost: Many of silver jewelry are imported because of the differences of styles and raw materials. So the shipping cost of transporting must be included in jewelry price.
Custom Duties: The imported jewelry incurs duties at the custom, this is a cost that some consumers may not aware of. It is also increase the price of silver jewelry.
Price fluctuations: Especially for wholesale price, the price of the silver jewelry associated with the current silver price.
Business Overhead: Like other business, the sales have to cover normal overhead costs such as employees’ salaries, store rent, utilities etc.
Profit: The price the jewelry buyer pay included the profit for the seller.
