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I'm looking for some discussion, comments, opinions regarding whether or not you have personally made the decision to lower prices, make smaller stuff at $25 or less, etc. to try and get more buyers into your booths? 

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I raised all of my belt prices by $5/belt ($45-$250) and sold more belts than in 2014. I have found that my sales generally increase with higher prices. Of course my competition raises theirs and I am competitive because I don't pay employees or middlemen (galleries)  There is also the perceived value psychology.

I agree with the perceived value theory. My higher priced pieces always seem to get a lot of attention.

I've added some smaller photos, 5x7 images on 8.5x11 paper, that are unmatted and in a clear acrylic bag with a thin backer instead of Foam-Cor. The price point is $20. The sales aren't outstanding but steady and I find many customers are buying multiples. I'll be adding 13x19 images next year that will be unmatted. I'll probably be dropping canvas prints and going back to 18x24 framed pieces under glass. I'm keeping some of the canvas prints just for the "flagship" aspect, but the framed pieces are $95 right now although I'm considering a jump to $120-125 as that's the cost of matting and framing at most shops.

The cost is not initially what brings people into the booth as that's what the impact of your work does. The pricing is what gets them to walk out with something in their hands.

Awesome! I added small 4-inch X 4-inch pieces to my standard offerings a couple of years ago to add a $25 price-point, and I have noticed at my last festival more people purchased those than my larger pieces. I think volume is the key.

The AUD has been so appalling against the USD this year that I've had no option but to raise my prices as many gem dealers throughout the world use USD and I buy my silver from the US as well.  I'm yet to do a tally for this year but have found sales are a little slower in general with the odd exception.    

In general I sell more earrings than necklaces these days - a trend that happened about 3 years ago and it has continued, whether that is fashion related or $ related I'm not sure.  Yet I sold my highest price piece ever this year which was a necklace and I will still turn over the higher priced pieces (admittedly at a slower rate).

I occasionally have a special for a show such as $25 earrings - I did this recently and sold 4 pairs at one show, 1 at the next show and none at the show after that so I guess it depends on the show and if people WANT to spend or not.  At some shows such as fundraisers it gives the customer a way out - they have supported you at less cost (but its better than nothing, eh!?)

There seems a lot of resistance to buying non-tech and non-food items here in Australia these days - perhaps a reflection of the number of shows out there these days or perhaps its a turn to a simpler life and not buying so much "stuff"?

AU$ & CAN$ sales: both are in the tank now and CAN$ is somewhere around US$0.75. Despite that, I finished one $6K saddle going to Australia when picked up by friend in US for National Finals Rodeo in Las Vegas next month. Another US client had ordered two saddles for her twins but they decided they didn't want to trick ride. Her time slot deposits ($300 each) for January, 2016 were nonrefundable, but I told her if she sold them, I would honor them. Finalized one sold to Canada for $5K saddle last night, the other went to Australia with deal for another $5K saddle to be finalized today because of time differences. Go figure. And, I raised prices for 2016 orders. I am currently booking saddle orders for 2017. Has the economy recovered???? Oil prices are down but a lot of horse people have oil money????? Crazy time.

Horse people here in Australia will spend huge amount on anything that has to do with their horses Richard!   You are well respected and they know they're getting a value product so you have a name they are more than happy to pay for it.     (By the way the AUD is about US 0.70 atm so really awful!)  

I have been to a few horse events the last couple of years - showjumping, campdrafting and polocrosse and the only ones that bought jewellery were the polocrosse ones.  The others would buy horse related things or specifically horse themed items for themselves (which I don't currently do).  

A couple of private boarding schools known for the girls being allowed to have horses at the the school proved spectacularly poor in sales for me as well.   Many of the mothers apologised and said while they would love some jewellery there was always a list a mile long for the horses and that took precedence :)

The Aussies always seem to be on vacation too, Bali, Northern Territories, WA... Hunting, fishing, camping, 4-wheeling, beach bumming. There is a Facebook page going around here in the US: Get your kid a horse....they won't have money for drugs. Or jewelry or anything else.

LOL love it Richard!    Ive heard the same with aeroplanes!

I've always found "art" is considered an impulse buy more so than anything else, but jewelry sales slowing up is a mystery. Generally, I've always seen scads of people at the jewelry booths, and it seems like women just eat up the stuff. And $25 for a pair of earrings is GREAT! You cannot get that in a department store! I hope your sales start to improve....

It is a common conversation here in Aus Brenda, the people just aren't spending like they used to - it has been a slow decline but its in a lot of areas, not just jewellery.     People seem to be happy to pay for tech (phones, computers et al) and anything foodie (gourmet produce, coffee and food on the run) but everything else seems a bit hit and miss.   I get a lot of my ladies saying "I love your jewellery but I just have too much already".   (I know - sacrilege right!?)

We have raised prices on the lower and mid-level 15% and %20. A $2,200 original framework is now $2,500. A $1,250 is now $1,500. Frameworks with prices above this level have remained about the same, but some newest works that we may have placed in the mid-level a few years ago are going in the higher level at $3,200...and thankfully, selling.

Regarding lower price points, we have eliminated anything below $35. Our unmatted repros sell for $35 - $125 mostly with $65 being an average sale in this department. Sales of our repros have diminished in the last five years, actually, but they have been rebounding in the last year.

Where we're missing out is in the $250 - $750 range. We do have a few repros that fit into this range, especially if I frame them just like the originals were framed. I don't have much time for this since we've had better success with higher-end work these days. So I have to focus on creating new work on the higher-end.

None of our work is outsourced and we, husband/wife, don't have any employees. 

All of what I've said is based upon my experiences with our own work. I will say that I don't understand the concept of making lesser expensive work to attract more lower-end customers. Our philosophy is to make better, more complex work to attract the higher-end.


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