| If you're planning on starting a business in jewelry | | | | stones and creating the finish are part of the |
| as an importer, wholesaler, or retailer, | | | | significant processing costs associated with turning |
| understanding the costs of jewelry you purchase | | | | a piece of silver into jewelry. Such labor costs are |
| is highly important. Knowing how jewelry is priced | | | | heavily influenced by where the jewelry is made. |
| allows you to better appraise pieces you purchase | | | | Thus, in countries with higher labor costs, jewelry |
| and avoid being ripped off by those offering | | | | production is usually more expensive regardless of |
| over-priced or fake jewelry. | | | | whether the pieces are of higher quality or better |
| Demand Driven Costs | | | | design. |
| Every year, 650 million ounces of silver gets | | | | Overhead costs |
| mined from countries like Canada, Australia, | | | | The creation of jewelry and its distribution is a |
| Mexico, Peru, and the United States, with more | | | | business that incurs costs like any other business. |
| coming from scrap recycling and investor trading. | | | | These costs are offset by the profit made selling |
| In 2001, 24% of the silver was used in | | | | the product. The jewelry maker sells at a price to |
| photography, while 33% was used in jewelry, | | | | cover the costs of business overhead, such as |
| 40% for industrial uses, and only 3% for coins | | | | machinery, staff, sales, and marketing, as well as |
| and medals. Within these categories, silver is used | | | | make a profit. This process occurs again down |
| in a myriad of ways, from circuits for electronics, | | | | the supply chain when the importer, distributor, or |
| as anti-bacterial treatments in medicine, and even | | | | retailer must sell the item at a price where these |
| sprinkled on food as decoration. | | | | costs can be recouped and a profit made. The |
| As a result of this supply and demand from | | | | importer will have to factor in shipping and |
| competing industries, the last century has seen | | | | customs duty costs involved with getting the |
| tremendous fluctuations in the price of silver. | | | | jewelry into the country, while a distributor may |
| Prices saw an all-time high in 1980, when it | | | | have to add costs for warehousing and storing |
| reached $49.45 U.S. dollars per Troy ounce. | | | | the pieces. The final retailer will often have costs |
| Precious Metal Costs | | | | of running a brick and mortar location and |
| While less expensive than its gold and platinum | | | | advertising to customers. |
| counterparts, jewelry pieces made from silver still | | | | Marketing and Branding |
| sell for a high premium on the market. The first | | | | A final cost worth separating from standard |
| cost associated with sterling silver jewelry is the | | | | overhead costs involves the branding and |
| cost of silver. The current cost per ounce is | | | | marketing of certain collections. A sterling silver |
| around $15.00 U.S. dollars, having risen sharply in | | | | piece from Tiffany's will cost more than one from |
| the past few years. The base cost of the metal | | | | Walmart. Such costs are the result of the time |
| used is usually only a fraction of the costs that go | | | | and money the brand holders have put into their |
| into creating and delivery a piece of jewelry to | | | | brand. |
| the end customer. | | | | Learn more about Sterling Silver Jewelry by |
| Costs of Extra Material | | | | visiting the import and wholesale jewelry |
| Usually Silver is not the only component used in | | | | knowledge center of Wholesale of Asia at where |
| Sterling Silver Jewelry. The addition of Crystals, | | | | you'll find a diverse and unique selection of |
| Pearls, Jade or other stones that add to the | | | | Wholesale Jewelry such as Sterling Silver, Precious |
| overall beauty will also increase the final cost of | | | | Stone, Pearl, Jade, and much more, all at a low |
| the piece. Many silver pieces also come coated | | | | cost and imported directly from manufacturers |
| with other more expensive metals, such as | | | | worldwide. By working with manufacturers and |
| Platinum, Gold, or Rhodium, either to add tarnish | | | | retailers to produce fresh and trendy new |
| resistance or improve shine and looks. | | | | designs, Wholesale of Asia helps businesses get an |
| Costs of Labor | | | | edge over competition and increase their bottom |
| Jewelry pieces are handled by a person at one | | | | lines. |
| point or another, often for the more delicate | | | | Note: Article may be freely circulated if all content, |
| tasks of design. Everything from setting the | | | | author info, and links remain unchanged. |