I don't wholesale but if I did I would set a price at some midrange
silver value and then add or subtract a percentage depending on
what the current pricing does. Most major manufacturers do
something like this. I'm sure there are tools available on your
computer that can help set up a program like this.
Daniel, that certainly makes sense, but doesn’t work with my market.
Some fellow artists tried charging a surcharge when the silver rate
was racing up, and it was not well received by retailers and they
dropped that method, just kept raising prices.
Wholesaling is a whole different ballgame, which is why I asked what
other artists who wholesale are doing.
I was a mathematics major, so can figure out how to charge, and a
former IBMer, so I know how to market, but I’m not a psychic, so
don’t know how to handle this market.
When silver jumped to over $22 from $5-6, and now around $10, that’s
a big swing. The cost of silver is a high percentage of my wholesale
price because I have my originals cast and this market therefore is
highly dependant on the spot. I’d lose business if my galleries
could not count on a consistent price. My average price is only about
$25, so I sell a lot of pieces.
What are other wholesale artists doing?