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Post by rockpickerforever on Apr 16, 2019 12:34:15 GMT -5
It's only worth what someone is willing to pay for it.
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Post by HankRocks on Apr 16, 2019 13:00:07 GMT -5
More like New Age; crystals, minerals, Reiki etc. New Age is like a religion and the bible is: www.amazon.com/Love-Earth-Kaleidoscope-Describing-Metaphysical/dp/0962819034Crystals and minerals have healing properties and are held in the hand or worn. The market for this is a crossover with minerals, lapidary, crystals and jewelry. Some of the people that sell at the Crystal fairs also sell at lapidary shows. The attraction is similar to horoscopes and birth stones. My wife was in to all of this 20 years ago. She collected crystals, minerals and eventually cabs which got me in to lapidary (I can do that). It would be very easy to offend some people due to where that seller is coming from, and maybe I have already by bringing this site up. I am sure there are members here that are proponents/practitioners of the above due to the aforementioned crossover, and while it is not for me and cannot relate to it at all, to each their own. I was just shocked at the pricing. Some of those items are just downright inferior and would be considered rejects by all but perhaps someone just starting to get into tumbling: Tiger Eye Talisman pendant designer gems cabs cabochons tigers eye golden yellow blue red amulet Tigereye talisman carving tigereye jewelry stones chatoyant quartz Shamanic metaphysical new age View 2  Extra Large Tiger Eye Shield fantastic chatoyance Amazing golden color Shamanic healing energy 62 x 47 x 5 mm item # tigereyeshield $399.99 /orderbut.jpg Al I need to find the people who will pay $399 for a 2 1/2" X 2" polished piece of Tigereye and get a few of them to come out to one of the Craft Shows I am at. Just 2 or 3 sales and I would be one happy camper!! |
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Post by Rockindad on Apr 16, 2019 13:57:10 GMT -5
@hankrocks start at $800 then cut the price in half. Al  |
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Post by MsAli on Apr 16, 2019 14:13:36 GMT -5
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Post by stardiamond on Apr 16, 2019 14:14:03 GMT -5
I smoke cigars and spend considerable time shopping online for cigars. I have a range that I am willing to pay and shop 8 different sites.
The retail/msrp is a joke. I don't consider buying anything unless it is at least 60% off. The discounts for the same item are constantly changing. I have a large supply and only buy by opportunity not need. I use to do the same thing with lapidary, but there are very few opportunities. Few bargains on slabs and buying rough is similar to buying lottery tickets.
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Post by miket on Apr 16, 2019 14:25:40 GMT -5
It's only worth what someone is willing to pay for it. I'm glad I saw this, I've been in sales for 21 years and that's exactly what I was going to say. I agree with others have said, set yourself apart and price what you have for what you think it's worth. |
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Post by Rockindad on Apr 16, 2019 14:30:15 GMT -5
I smoke cigars and spend considerable time shopping online for cigars. I have a range that I am willing to pay and shop 8 different sites. The retail/msrp is a joke. I don't consider buying anything unless it is at least 60% off. The discounts for the same item are constantly changing. I have a large supply and only buy by opportunity not need. I use to do the same thing with lapidary, but there are very few opportunities. Few bargains on slabs and buying rough is similar to buying lottery tickets. Funny you mention 60%. My wife has a friend that used to be a fashion buyer for a higher end clothing store chain for women. She told her to never buy anything until it was at least 60% off as that was always their target price. Anything they sold before it hit that mark was considered bonus. Al |
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Post by RickB on Apr 16, 2019 15:09:35 GMT -5
Heeheehee - okay, we'll raise our prices. What do you want to buy?
Seriously, we had a friend in the club who was complaining about not selling any pieces at a craft show. Robin looked at her prices and told her to raise them. The other lady thought she was nuts, but eventually did re-price them. She sold several pieces that same day.
Apparently the perceived value went up right along with her prices. Some people just think if it costs more it's a better piece. Several years ago a friend who owned a local antique store let me know that he had just sold a bed for $1,800. He had been trying to sell it at $1,500 for quite some time but nobody would get it. He claimed that some people valued an item they bought for a higher price as a status symbol and it gave them something to brag about. Rick B |
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Post by stardiamond on Apr 16, 2019 15:16:02 GMT -5
I smoke cigars and spend considerable time shopping online for cigars. I have a range that I am willing to pay and shop 8 different sites. The retail/msrp is a joke. I don't consider buying anything unless it is at least 60% off. The discounts for the same item are constantly changing. I have a large supply and only buy by opportunity not need. I use to do the same thing with lapidary, but there are very few opportunities. Few bargains on slabs and buying rough is similar to buying lottery tickets. Funny you mention 60%. My wife has a friend that used to be a fashion buyer for a higher end clothing store chain for women. She told her to never buy anything until it was at least 60% off as that was always their target price. Anything they sold before it hit that mark was considered bonus. Al Back when men and women wore suits to work, my wife and I would go to Reno to play in a bridge tournament between Christmas and New Years. This coincided with the end of year sales of women's designer clothes. Most of the merchandise was marked down 50% and there was a secondary 20% off. We would go the big department stores in Reno and Sacramento on the way back. My wife worked in San Francisco and the standard for dress was much higher than Sacramento and Reno. There was a vastly superior selection at the stores we shopped than the ones closer to home. It was usually the highlight of the trip. We even made a similar score buying toddler clothes. |
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bcrockhound
spending too much on rocks
Member since June 2014
Posts: 418 
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Post by bcrockhound on Apr 17, 2019 9:35:45 GMT -5
To some extent these sort of things are case studies in marketing. Like selling special clay from a local river for obscene prices when you just scoop it out in a bucket. Creating a story around your product can go a long way.
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Post by fernwood on Apr 17, 2019 10:11:23 GMT -5
Agree on many points above. Easy to mark something high price as sold. It can be used to influence others to purchase their items.
Many of my customers are into the healing property of rocks. Lets say I can sell a 2" raw rock for $10.00. Or, I can spend months shaping that rocks with a Dremel, tumbling it, adding a pendant bail or wire wrapping. That resulting product I could offer for maybe $20.00 maximum.
I have sold tumbled Apache Tears for $2.00 each. These are 1" or less in size.
Quartz crystal points, 2" sell for about $10.00 to $20.00 each. These are nice quality, with no polish.
Chakra style necklaces bring big bucks.
Meditation stones, Medicine Circle stones, etc.
I am backing off on making elixirs. To many asked me make them with stones that would be considered toxic to ingest.
I do a lot of custom jewelry pieces and tumble specific stones for people who are into the metaphysical properties of those stones.
I do not inflate the prices of these, just because the customer wants them for perceived healing properties.
This has been a very interesting thread to follow and many valid questions were raised.
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Post by fernwood on Apr 17, 2019 10:29:05 GMT -5
OMG, since my profit margin is so thin, 60% off would result in not even the cost of materials, if they were purchased. If sold, that amount would not cover my time spent. Only some for electric and equipment use. If a piece that was priced at $20.00 did not sell until it was offered for $8.00, it would be huge loss. Nothing for labor, a little towards materials. Nothing for photography or mileage for taking the place to point of sale.
No where near break even.
That is why I do not do consignment sales where I live. Most places reserve the right to reduce the price on anything until it is at 60-75% off. If it does not sell, the owner has 1 week to pick it up. Otherwise, it becomes the property of the shop. Price reductions often occur monthly. Some who do not reduce prices, have the right to claim anything that has not sold after a year as their own. One again, the person who consigned the product has a week to pick it up. Notices are often sent through postal mail, which is not the greatest here.
Know a couple of artists who consigned wooden items, valued at over $500.00. They put a reserve, which the shop allowed, at $500.00. The shop supposedly sent them a postal mail notice that they had a week to pick up the items. The notices were never received. A month later, both went into the shops to look around. Noticed their items were not there. They inquired.
The shops had "disposed" of their items. Both will never do business with consignment shops again. Both are taking legal action.
So, not only buyer, but seller beware. Know who you are dealing with and their reputation.
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Post by stardiamond on Apr 17, 2019 10:58:58 GMT -5
The 60% is because the original price was set artificially high. It is a marketing strategy that I don't like and don't trust people who use it.
Sales of an item is enhanced because the big discount making the original item seem worth more. A lot of retail businesses are struggling and the ones doing well start with loser prices and discount merchandise further that isn't moving.
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Post by Rockoonz on Apr 17, 2019 11:16:37 GMT -5
I have friends who sell at regular rock clubs shows and at art shows, metaphysical shows, and so on. They have signs for 20, 40 percent off so they don't have to change their price tags.
Different audiences, different prices.
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Post by fernwood on Apr 17, 2019 11:22:17 GMT -5
Agree. Shopko, a long time moderate sized retail store in the Upper Midwest is going out of business. They advertised 50% off everything. The local store, increased prices by up to 200%. Then reduced them by 50%. So a $20.00 item might have been increased to $40.00. the price was then reduced to $20.00 and listed as 50% off. Another $20.00 item had a price increase to $80.00. Then the price was reduced to $40.00, double the original price.
I spoke with someone who was interested in a new grill. The item was priced online at $250.00. He saw the grill, in the local store. Original price for the exact one, was listed in store at $550.00. That price, on a huge tag, had been crossed off several times. The price, at the store going out of business, was listed on Monday as $260.00. He has seen a comparable one at another local store for $175.00 on sale. He just wants this specific brand.
This is a common practice. Inflating prices and then "reducing" them to more than the original price.
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