How to Sell Your Jewelry for More Profit + Aquamarine - March's Stone
This month is how to sell for more profit, plus March's gemstone aquamarine. Scroll down, or click a link on the html version.
For the HTML version with color pictures click http://www.mrbead.com/february10.htm
Why Increase your Prices Right Away!
Aquamarine - March's Stone
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Selling is not determined on the cost of your product – you are selling a benefit. That necklace you took hours to make, and even longer to design, will make the wearer feel better. It may make the person feel richer, and so give them more confidence. Because of this they may get a new job, make more money, sell more, gain a partner etc. Or the necklace may just make them feel more comfortable in a way a nice meal would. Whatever, the benefits have no relation to and far outweigh material cost. The more style your design, brought about by good taste, creativity, and fashion since – the greater the benefits, and so the higher the price. Customers feel value for money in originality, rarity, and quality, not in price.
Many sellers think that if their prices were lower, customers would buy more. Business is a game of margin, not volume. Price reductions can create more problems than they solve:
Say how wonderful the piece is. Talk of aesthetic value: beauty, design, style, harmony, balance. In times of recession it’s easy to gain new customers from your competitor’s mistakes – they will flock to you if you give them fast delivery, high quality, guarantees and after-sales service, whatever the price.
If your costs of materials and time to make the design come to $30, and you sell for $60, then you have made $30 profit. If you think you may sell more/faster by cutting the price 20%, then you will only make $18, 60% less profit ($60 less 20% = $48 sales price, less $30 cost = $18).
However, if you increase the price 20% to sell at $72, then you will make $42, 39% more profit ($60 + 20% - $72, less $30 costs = $42).
Think about how small changes in your selling price make huge differences to your bottom line profit. Don’t be afraid to charge more, your customers will respect you for it (although they won’t let on!).
Find the benefits (value) to sell to your customers and prospects. Help them to see how great their life is with your product, and you've got a customer. Set your prices high and hold fast – don’t be afraid to shout your price, believe in it. Remember how long it took you to create the piece. You had to source the beads, buy them, design the jewelry, make it up – and all that’s before the time and expense taken in selling. Most customers do not buy on price alone, and if you are unlucky enough to attract this type of buyer - then they are likely to complain, pay slow, and waste your time. If you've marketed correctly, customers will be anxious to do business with you.
Aquamarine is the treasure of mermaids, and those legends have it that for aquamarine to be truly powerful, it must be immersed in sea water and bathed in sunlight. The gemstone is also supposed to have powers that reach to land too, helping married couples solve their problems and drive off evil. Aquamarine is associated with the thymus gland and is very soothing worn as a necklace. It will also help coughs, reduce fluid retention and calm the nerves. The Romans used aquamarine for stomach troubles and believed it could cure liver and throat problems. Aquamarine brings courage, aids quick intellectual response, and gives peace while protecting the aura.
Color ranges from a very light turquoise blue to a bluish green. Darker blue colors are the best with greener being less valuable. Check the clarity of the stone. Because aquamarine has a light pastel color, it is important that it be free of flaws or inclusions. Examine the cut and check light reflects evenly off the surface of the gem and that there are no scratches. Look at the stone from several different angles to be sure. Aquamarine is usually heat treated and sometimes irradiated. However, it will become paler if left out in the sun. Clean aquamarine in with warm soapy water and a soft bristle brush. As with all gemstones, protect from scratches and sharp blows.
For MrBead.com or MrBead.co.uk, not eBay or our MarketWorks stores.
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