| I have a problem. Gold isn't selling. | | | | and they won't buy silver to do it. We will be focusing |
| And I sell gold. Jewelry, that is. Yes, silver too, and even | | | | on this market with a new line of smaller rings with a |
| some beaded stuff, but what do we really want to | | | | bezel setting. Less material, and more of a handmade |
| sell? | | | | look then the traditional prong setting. These types of |
| The inventory with the higher price point. Gold and | | | | rings are going well on Etsy. |
| gemstones. | | | | 3. Reduce the price of your old inventory. You may |
| We recently got in a pair of simple hoop earrings for a | | | | need to come off your prices a bit. Why not clear out |
| long time customer. Simple design, but well made and | | | | your old stock? Again, give the customer a perception |
| weighty at just over eight grams. They cost us about | | | | of value at a time when they have to pay a premium |
| $450 wholesale. The customer, I don't blame her, | | | | for new or custom designed jewelry. |
| decided to pass. This was the third pair we got in so | | | | 4. Go online. Using Etsy or Ebay will increase your |
| we held on to them, and there they sit in the case with | | | | exposure, if nothing else. It's far easier and less |
| the rest of the gold and dust bunnies. | | | | expensive to try new angles online and see what |
| The new inventory we have gets passed up. Sure we | | | | works. The bonus with selling online? You don't need |
| get a sporadic person coming in and wanting a nice | | | | new inventory. Keep at it, it's a slow process. |
| opal or whatever, but the pieces that sell don't have a | | | | 5. Get creative. Design your jewelry with mixed metals, |
| lot of gold or design to them. Not only is gold high but | | | | smaller pieces, or even play around with gold plating. |
| people are not spending, making the market especially | | | | Often having restraints on what you can do stimulates |
| tough. | | | | the creative process. |
| Here are some options to increase gold sales for an | | | | It the jewelry business it's often difficult to switch gears |
| independent bench jeweler: | | | | and try new things. The amount of time and resources |
| | | | it takes to design new lines of work or change |
| 1. Sell estate pieces. The only larger items selling for us | | | | inventory is huge. Taking action and remaining flexible |
| are estate pieces. If your in retail you know its as | | | | are the best way to stay ahead and keep positive |
| much about perception as anything, and having some | | | | despite these challenges. The times, they are |
| re-sale items certainly has perceived value. | | | | a-changin. |
| 2. Engagement rings. People are still getting married, | | | | |