Ah, the cost of, well, everything! It keeps going up, and we have no choice but to keep up or fall behind. Today I sat down to work out what it 14K gold versions of the gauge rings will cost so I can add them to the website before the holiday shopping season rolls around, and decided I had better review my silver prices while I am at it. Good thinking! Precious metal prices are pretty precious all right, which means I will need to increase the price of the silver rings since my costs have been going up as well.
I thought I would take this opportunity to do a couple of things. One, to talk about pricing. Oh, I know I am not the first or the last, but please bear with me. And second will be about when the prices will go into affect, more on that in a moment.
Pricing. Nasty business. I think most artists would love to sell their work for far less than they need to. We just want (need) to make things and share them. But, there is this pesky business of making a living. Housing, food, clothes, school supplies, medical bills, art supplies, etc., it all costs money. So, we need to make living wages. I know a few people have recoiled at the current price of my rings, and I want to explain why my rings cost so much more than a silver ring mass produced in China or India. There is the cost of the metal, and since I am not making thousands at a time, I don't get a price break on silver. Then there is the matter of overhead and living wages. Overhead is the cost of having a place to make the rings, and the costs of the tools and consumable materials involved in making them. And living wages. I have worked hard to make really nice quality rings. I test each one. I hand finish and polish each one. And I have put in a lot of time to learn the skills involved in making these rings. So, I think I deserve better than minimum wage. Hence the price tag. Hey, you get what you pay for, right?
So, you read this far, and for that you get some special information: I will not raise the prices until next week after Labor Day. On Tuesday or Wednesday the prices for the sterling silver gauge rings will be going up to $149. I think it is still a good price for hand made functional jewelry, and I hope you will agree. But, I also know some of you have been waiting to get yourself a ring, or to buy one as a gift, so I encourage you to jump on the old price of $120 while you still can. Feel free to spread the word, and thank you so much for your continued support.