For those of you who are thinking about selling gold jewelry, it is crucial that you understand fully how to determine the price for gold jewelry. Not only this can help you to tell a good deal from a bad one, it also helps to analyze your competitors and understand the market better before you make any investment.
Gold price
The most important part of wholesale gold jewelry trading is to understand the breakdown of the cost of a piece of gold jewelry. Lets say the current good price is 500 per ounce. To calculate the cost of gold for a piece of 14 karat gold jewelry that weighs 3 gram without any stones, we first divide the price per ounce by 31.5, to get the price per gram, which is 15.87. This is the price of pure gold. To convert this to 14K gold, knowing that there are 24 karats in pure gold, we divide 15.87 by 24 and multiply the result by 14. The price per gram for 14k gold is roughly 9.26. Therefore, the total cost of the gold for a 3 gram ring would be 27.78.
Labor Cost
Another major part of the cost for a piece of gold jewelry is the cost for labor, especially for pieces set with precious stones. Gold jewelry generally requires some filing and polishing after it is cast out of the mold. The labor cost can sometime be as high as 2 per gram, depending on the origin of the jewelry and the style. In addition, the cost of setting any stones on a gold jewelry can be over one pound per stone. Certain advanced setting such as channel set and invisible set cost even more because of the high level of craftsmanship required.
Markup of Competitors
A good way to analyze if a certain style of gold jewelry is profitable and beneficial for a business is to understand your competitors prices. Since you already know how to calculate roughly the cost of a piece of jewelry, and therefore the price that you can get it, buy looking at the markups of your competitors, you may get an idea of how severe the competition is. For instance, if the competitors are marking up the jewelry three times of the cost, the competitiveness of that style is not really that high. On the other, if everyone has the same pricing and the markup is 50% above the cost, the style might have already saturated the market.
Volume trading
Another angle of looking at the pricing issue is that when the competitors are marking up at a low margin, the item is probably accepted by a lot of consumers. The justification behind it is that when the profit per piece is low, and people are trading them actively, there probably is a high demand for it. On short, the higher the profit margin, the low the volume of sales and the low the profit margin, the higher could be the volume of sales. Another point that is worth noting is that the volume theory also applies to jewelry vendors. If you buy in large quantity, pricing should go down automatically. Therefore, running a successfully business involves getting the balance between all the factors within the resources and infrastructure you have such as employees and capital.
Closeout Jewelry
Since jewelry business is highly time-sensitive, styles that were once popular several months ago may not sell at all couple months later. Therefore, when buying gold jewelry wholesale, you should estimate the monthly sales and stock according to the sale volume. For example, you may want to stock a certain style for two months worth of stock and restock it when it runs out in order to minimize the closeout items in the inventory, which is sometimes referred to as inventory shrinkage.
By understanding the market and your competitors before buy wholesale gold jewelry, you can reduce the mistakes during your entrepreneurial endeavor, thus increase the chance of succeeding tremendously.
The most meaningful gifts that I have received in my life are those that my close friends and relatives have made for me. There is something very special about opening a present and knowing that not only did that person spend their time searching for just the right things to go into it but they also crafted it with their very own hands! Its something like the difference between a home cooked meal and a restaurant one: subtle but undeniable.
One of the important things to keep in mind when you are designing jewelry for someone is their personal taste. I know it may sound obvious but how many times have you received a gift and thought, Well, its nice enough but isnt this more like something they would wear, eat, listen to, watch, etc, Its very easy to get carried away when you are designing something and think, Oh, these delicate diamond beads look gorgeous with these elegant sapphire briolettes! I ll use them together. However, when you are designing for someone who would prefer chunky amethyst nuggets beads and huge keishi pearls even though the piece you design with the diamond beads and sapphire briolettes might be stunning they might not appreciate it quite as much as you do. Therefore the first thing to consider when you are designing jewelry is, What do they like?
If you know them well you will be able to recall their favorite colors. Do they go for anything dramtic and really wild? Or are they more into subtle and delicate? Or is absolutely everything they own neutral? Or do they follow every new fashion? If they love drama and color you might think of some of the more colorful gemstones that come in larger sizes like blue chalcedony, fluorite, lapis, kunzite, turquoise or ruby zoisite. If they really love delicate and elegant then precious stones will win their hearts. Try ruby, emerald, sapphires or for the more adventurous: spinel, tsavorite garnet, tanzanite, apatite, tourmaline (one of my personal favorites!) or diamond beads if you really want to wow them. Dont be deterred by the expense of precious stones. You can always go for a few briolettes and make a nice necklace by hanging them from an open link chain or you could get a pair for earrings. If youre designing for someone who loves neutrals you can go with classic pearls or any of the many varieties of agate, mother of pearl, quartz or moonstone. Fossilized coral is also a lovely neutral with interesting patterns: perfect for pendants! If they follow the latest fashion its really fun to get them something that few people have ever heard of like hypersthene, chiasolite, bronzite, kunzite, fuschite, or hemimorphite stone beads.
There are so many stones to choose from that the most challenging part is narrowing it down. I find that once you have chosen the stones you think they will like best the designing part takes care of itself. Youve already thought about their personal style so its easy to come up with something that will work for them. After youve picked out your beads and designed your piece the really fun part begins: giving the gift and if youve done your job right watching their eyes light up when they open it. By designing something yourself for your friend or relative you get something really special. Not only do you get to give a wonderfully personal gift to someone you love; you get the enjoyment of watching them wear it and cherish it for the rest of their lives. What could be more wonderful?
Diamond and Gemstone Rings are both beautiful and unique. There are so many styles, cuts, and weights that is hard to choose just one. Lets take a look at what a diamond is and briefly discuss what gemstones are. We can then progress to discussing diamond rings and gemstone rings or any combination of the two.
A diamond is the hard substance known. Diamond rings symbols of everlasting love and affection. Many men become overwhelmed when they go to purchase diamond andor gemstone rings. There are many styles, band widths, and settings. The size and weight of the stone is also something that will play into the decision, but I digress.
Here is a quick overview of ring settings. Settings are defined as the manner in which a stone is place on a ring. An example of a setting is the traditional solitaire was engineered by Ifanes. It is a single diamond set in either a four or six pronged mounting high above the band. This allows the most light to refract in the stone. This setting is also very easy to clean and is also less expensive than other settings.
Another setting is the Diamond Accent setting. The stones used are smaller. The Channel Street Baguette style are stones set into the band that accentuates a center stone.
Gemstone settings are basically any setting with a combination of diamonds and other precious stones. The colors of the other stones enhance the beauty and sparkle of the diamond (i.e. rubies, emeralds, or sapphires). One way to do this is put a diamond in the center with the birthstones of the couple on either side. Later if children come along their stones could be added as well. Gemstones rings can be made with almost any precious stone such as Fancy Gems, Sapphires, Topaz, Emerald, Black Onyx or a Ruby.
The Truffle setting usually accompanies a three stone ring where a large stone has a smaller stone on either sided and is a design where loops on each of the stones connect the stones together. There are many combinations of metals, diamonds and gemstones that can be created. You need to decide what you want and what you can afford and come up with the perfect ring.
Both gemstones and diamonds can be cut in round, rectangular, or oval. Shapes such as hearts or diamonds are also used particularly in gemstones. Almost anything is possible.
When choosing a diamond ring or a gemstone ring you should consider your budget bearing in mind that taxes, insurance, and warranties will add to the cost of the ring. The likes and dislikes of the person who will receive the ring is crucial to your decision. For example you see this exquisite diamond ring that has the birthstone of the person to whom you will give the ring. It so happens that the ring is in your price range. Right next to it is a very simple diamond in a solitaire setting and it is very pretty.
Now you think the more exquisite one is perfect and you purchase it. When you give it you cant help noticing a look on their face that you cant explain. Later it is explained to you that simple designs are more the persons style so you return the gaudy ring for the simple solitaire one.
So think about your budget. Think also about the recipient do they wear jewelry and if so is it simple in design or are they more the type that loves ornate pieces. Know that for the most part your choice will be gratefully accepted. Good luck!
There are so many important and special touches that you have decided upon to make your wedding day a romantic and memorable occasion. When it comes to your bridal jewelry, you feel the same way. Selecting the bridal jewelry that will give you the added sparkle and glamour to finish your look off is as important as the selection of the wedding dress.
Nothing says bride like beautiful, sparkly bridal jewelry. Whether you love pearls or have to have swarovski crystals, your bridal jewelry should be your spectacular finishing touch. When selecting your bridal jewelry, keep in mind the style of wedding you are having. Are you a traditional bride and think pearls are perfect, or does your taste run for the unique and classic style? Whatever your tastes, choose bridal jewelry that compliments your wedding gown.
Lariats and drop necklaces look lovely draped around any bride with an open backed dress or a plunging neckline. Chokers are great for halter wedding gowns, a parallel in design. When choosing what type of gemstones or precious stones you will wear, consider your wedding gown again. Is your wedding gown covered in pearls or crystals? Stick with that theme, your bridal jewelry will compliment your entire look.
In addition to looking great on your wedding day, wearing your bridal jewelry again for more special occasions will remind you of how wonderful your wedding day was. Not to mention, how gorgeous you looked. Cherish the jewelry you wear on your wedding day, it can be a constant reminder of your love together and the wonderful commitment you made together.
Bridal jewelry is such a key component when it comes to your wedding look. Beautiful jewelry, especially timeless jewelry is a great addition to your jewelry accessories, as you can wear it time and time again, looking great.