Moving with the times.

[caroleallen]

Yes, Peter's right. The wholesale price should already be factored in. Selling at shows is not cost free. There's the cost of the show itself, travelling, eating out, hotels (if you're away from home), display costs etc etc. There's also the time at the show plus the time preparing. Galleries do have overheads and they have to make a profit, so it's only fair that they get a fair cut. I think 40% is reasonable.

[Goldsmith]

I would add that if you do get to sell in London shops you would be happy with only a 40% mark up. I haven't sold any new stock this way for 6 years, but back in 2007, William & Son, a small shop in Mayfair showed a couple of my pieces on a SOR basis,and their mark up on my original sale price was 260%.

James

[Lucie]

Is 40% the standard mark up for most shops to stock your items SOR? I've been thinking about approaching shops in Cambridge for a while as it would be handy to have a physical base (or two) as appose to purely selling online. I'm still not sure whether it's a good idea. My stuff sells well online, but some independent jewellers don't seem overly friendly (that's the polite way of putting it)

[CJ57]

Shops seem to be quite different to galleries. Even up here I know 2 whose mark up is anything from 120% to 200%. If it's on something they have bought from you then I suppose they can charge what they like but I always somehow feel on SOR that if you want it to sell then we have to take our price down so it doesn't become ridiculously expensive then it's hardly worth it other than getting yourself out there.

[Lucie]

Thanks Caroline Just to make sure I'm getting this right - Would that be gross cost to produce x 2?

That would make a standard gold pendant nearly £1000!! Think I might be better sticking to my ickle online shop, unless I want to price myself out of the market completely lol.

[CJ57]

Thanks Caroline Just to make sure I'm getting this right - Would that be gross cost to produce x 2?

That would make a standard gold pendant over £1500!! Think I might be better sticking to my ickle online shop, unless I want to price myself out of the market completely lol.

Hi Lucie, there are people better qualified to answer your questions about shops and galleries I'm afraid.
I think it depends in what direction you want to take your business. If your work is selling well online then I see no point in paying the middle man but them I'm a Scot!! If you are wanting to get yourself out to a wider buyer and expand your business then galleries and shops will do that if you can get the right one. Some areas of the country seem well equipped with many great and welcoming galleries, it would seem to help if you already know someone or their is a recommendation

[Lucie]

I think you've hit the nail on the head (so to speak) - It definitely seems to have more to do with who you know.
I have a feeling that I probably lose customers because they're wary about me not having a physical base. My nearest town (25 miles away anyway) is Cambridge & I'm guessing there's no shortage of galleries. It's knowing where to start!
Something to explore this year

[CJ57]

It's a very strange thing. I had 300 people through the door in May for the Open Studio many asked which galleries or shops my work was in, when I told them they could only buy direct from me and I would meet any of their needs they sort of went Oh. Seems silly that they would prefer to go to galleries than buy from the maker or that the quality of your work is less important than where it sells.
Like you I have to travel quite a distance to get a decent gallery and it's not physically possible for me so selling direct suits better, people are fickle!

[Tabby66]

You're quite right Caroline, people are fickle!! I have told people at fairs where they can view my work,....thinking....right here, right now!!, but obviously would appreciate their direct custom in future,.....sometimes their response has been that they just want to take mother/aunty/daughter to see the kind of work I make!!

Sadly, 40% (of the RRP, quite right Peter) seems to be a standard minimum rate wherever I have approached/ am stocked in the country. Up to 55%, which, due to location I thought would be a good 'shop window' (as it were), but has only been average. My best earner this year gallery/shop wise has been a shop in Birmingham which takes 50%. The places I stock put the designer name with my work and basically (as Carole has said) you've got to pay for your shop window, whatever form that may take......fairs, galleries, shops, online shops, your own website.....nothing comes for free (sadly)....

So, my logic is (hopefully.../wishfull??), that I am paying currently for a number of 'shop windows' in whatever form they take, but that in the future, I will build a private customer base, which will mostly keep me busy enough from year to year......

Hope that helps clarify/answer some questions.....

Tabby xx

[Keia]

That's 35% of the *retail* price. Your wholesale price should already include time, materials, ancillaries - and your profit.
Look at it as the cost of selling; if you were selling at a show, the cost of selling would include your time. If you sell online, the cost of selling includes the time & effort of maintaining the website and getting the pieces photographed properly for sale.

Well, I had yesterday off from ranting about pricing

Haha, well it wouldn't be the same forum if you didn't rant about pricing It's a good thing though, it helps to stop people like me underpricing their stock.
Loads to ponder about still x