I'm a jewelry artist who does a variety of shows. Some of the shows are retail/wholesale shows which means I have to be able to sell wholesale. I am just hating every minute of selling wholesale and am trying to figure out why. Here are my issues:
1. they get half off of my beautiful work
2. they always want a lower price or a better deal
3. they don't want to meet my minimums (which is $500 retail - $250 wholesale)
4. Some of the customers are jewelry makers themselves (not stores) and want to buy my components then I see them at the same local shows which is me competing with my own art. Hello????
Can somebody give me some suggestions on how to manage both wholesale and retail? Do others do both or pick one or the other? I mean, as an artist not only do I make my product but then I sell it too and it's like working 2 full time jobs. I could really use some advice and am really considering not selling wholesale. But then again, I got 3 really nice wholesale orders this month and it was great to have the income and not have to do a show...
Replies
These are all great replies. Thank you!
I'm going to implement the following effective immediately:
1. Only select things in my booth will be available for wholesale purchase. Everything else will be retail only.
2. I am going to further define my wholesale policies and put it into writing. And stick to it.
3. Regarding where I live, I am not going to wholesale to jewelry designers any more - just a few select stores.
I'm sure I'll be adding to this list.
Have you considered selling your designs to jewelry companies? Then you could do the creative work and let someone else do the mass production.
I don't do jewelry. My art is one of a kind and I am having a difficult time finding the right venue for it. The Smithsonian wanted to purchase some of my work for their gift shop and wanted things in the @20 bracket. I told them my on line prices were as low as I could go. I never question anyone's markup as long as they pay me for what I want for the items. And I tell them that. They know what their market can handle. Ultimately, they did not purchase anything but did invite me to their Christmas show. We could not justify the space cost, hotel, food, etc with my low inventory so we did not go. But, it is still on my bucket list.
Sometimes is best not to put all of your eggs in one basket as my dad would say...I do both wholesale and retail shows ,this year I am doing 2 trade shows and cutting back my retail shows just doing better ones.....I like doing retail shows but they wear me out and if it a bad show gives me a bad taste for awhile... When I sell wholesale galleries mark up my work by 2.4 % which is standard for galleries and retail stores, I look at it as no travel costs, hotels ,gas, food, leaving my family for 4-5 days which I hate. Maybe its the galleries you are dealing with I have never been asked to lower my wholesale price....Maybe you should make a lower end line of jewelry that is strickly for wholesale..... possibly beads?
Not sure what your work is exactly, it's hard to do both but I think it fills in when you need it most...