Reasons And Consequences Of Low Pricing Of Handmade Gemstone Necklaces UK

There are several artists who price their handmade jewellery too low. Well, before concluding with the inference that it is a mistake you should know about the different reasons for such so called ‘error’. It may be that the artists do not value their talent, which is the case in most humans. They sometimes even believe that their piece of art is not worth of netting high value and therefore feel lucky to get it sold at any available price they can find, sometimes barely covering the cost of materials.

Following Others Advice:

Sometimes jewellery artists tend to give in and follow the advice of their friends and family who portray to be knowledgeable about jewellery and the market. They suggest and urge the artists not to risk failure by pricing the piece too high. Moreover, there may be several pieces of Gemstone Necklaces UK and other jewellery items that may not sell for a long time. There can be several reasons to it but the artists think that it is due to the price and the first thing these inconsiderate artists do is slash the price.

Financial Condition And Time:

Apart from the above reasons, the financial condition of the artist may be demanding and therefore they tend to sell the Handmade Gemstone Jewellery UK desperately at whatever price available. They also fear of scaring their customers away due to high price and in order to do business price the item low. It takes a lot of time to create beautiful handmade jewellery but these artists are uncomfortable in charging for their time, and sometimes effort as well. Most importantly, these artists do not know the jewellery pricing formula and hence price it low.

Why Not Charge Low:

The low pricing of handmade jewellery has raised several questions in the minds of the customers regarding its quality and effectiveness. People tend to think why these artists work so hard to earn so less. Pricing low will mean that the artist will have to make more items to earn money which they could have earned by selling a single piece of Handmade Gemstone Pendants UK. This affects the business as well as it will burn out the artist sooner or later resulting in the premature shutdown of the business.

Have A Wrong Customer Base:

When any handmade jewellery is under-priced the artist will have a wrong customer base as well. There will be more ‘bargain shoppers’ rather than the connoisseurs of handmade jewellery items. This will restrict the artist to raise the price even if conditions prevail fearing a loss of a chunk of customers. Unrealistic low pricing not only devalues the item but also affects other jewellery sales having to compete with imported cheap items.

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