This is likely to provoke some strong discussion on the list!
However, I’ll chip in my $.02 on the topic.
First off, I’d be really careful about something like offering a
cash discount, as that will likely violate the terms of your merchant
agreement should they find out.
Second, the only reason to “make them feel special” is if you want
to encourage haggling. To me, I price my pieces fairly so that I
cover my costs to make them (including my cost of business
operations), plus a small but appropriate profit that goes toward
building the business in the future. My response to hagglers is a
firm but gentle one “The prices I offer are as competitive as
possible in this economy, and are as marked.” The price is clearly
marked on each piece so they can see I’m not making it up as I go
along and adjusting it based on how they appear (I’ve heard that
perception when prices are not visibly marked).
Should they persist in requesting a “special deal,” I point them to
older inventory that I’ve dropped the price on already and explain
that these pieces are priced more aggressively to help them find
homes. And should there be an actual conversation going, I will
mention that the price of silver has quadrupled in a very few short
years and how the price of gold has skyrocketed as well, making it
much more expensive to purchase the raw materials to make replacement
I try not to get insulted because I realize that there are some
people who simply don’t feel they’ve fulfilled their duty unless
they’ve asked for a better price… and there are some who truly will
not purchase unless that price is dropped even if it was very fair to
begin with. The former are satisfied with a courteous but firm
response. The latter are folks I really don’t want to do business
with, because they next time they expect an even larger discount, and
so on, becoming a real drain on your business.
I guess that was a little more than $.02. Ah well.
No Limitations Designs
Hand-made, one-of-a-kind jewelry