I’ve been unable to find answers to my concern in the archives. I’m hoping someone here can share a way to figure current retail pricing on previously purchased commercial sterling silver chains.
Adjusting the price to cover replacement cost at current market is my problem and I would appreciate any suggestions in how to handle this.
For instance, if silver prices are double what they were when I purchased, doubling what I paid for each chain is not equal to the current replacement cost and I’m unsure whether doubling the price per gram is the right approach either.
Over the years, I’ve purchased multiple sterling chains in various styles, lengths and thicknesses. At a given silver value, the price per gram varies with the chain style, thickness and perhaps (?) intricacies of manufacturing and I maintain a record of the basis for each purchase and the then-current silver prices.
I’d like to be able to create something like a sliding scale of price per gram fluctuations based on silver price of “X”, “Y” or “Z” but don’t know how to go about it.
Thanking you in advance for any assistance in sorting this out.