Gold Dangling
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For those of you who are thinking about selling gold jewelry, it is crucial that you understand fully how to determine the price for gold jewelry. Not only this can help you to tell a good deal from a bad one, it also helps to analyze your competitors and understand the market better before you make any investment.
Gold price
The most important part of wholesale gold jewelry trading is to understand the breakdown of the cost of a piece of gold jewelry. Let‘s say the current good price is $500 per ounce. To calculate the cost of gold for a piece of 14 karat gold jewelry that weighs 3 gram without any stones, we first divide the price per ounce by 31.5, to get the price per gram, which is $15.87. This is the price of pure gold. To convert this to 14K gold, knowing that there are 24 karats in pure gold, we divide $15.87 by 24 and multiply the result by 14. The price per gram for 14k gold is roughly $9.26. Therefore, the total cost of the gold for a 3 gram ring would be $27.78.
Labor Cost
Another major part of the cost for a piece of gold jewelry is the cost for labor, especially for pieces set with precious stones. Gold jewelry generally requires some filing and polishing after it is cast out of the mold. The labor cost can sometime be as high as $2 per gram, depending on the origin of the jewelry and the style. In addition, the cost of setting any stones on a gold jewelry can be over one dollar per stone. Certain advanced setting such as channel set and invisible set cost even more because of the high level of craftsmanship required.
Markup of Competitors
A good way to analyze if a certain style of gold jewelry is profitable and beneficial for a business is to understand your competitors’ prices. Since you already know how to calculate roughly the cost of a piece of jewelry, and therefore the price that you can get it, buy looking at the markups of your competitors, you may get an idea of how severe the competition is. For instance, if the competitors are marking up the jewelry three times of the cost, the competitiveness of that style is not really that high. On the other, if everyone has the same pricing and the markup is 50% above the cost, the style might have already saturated the market.
Volume trading
Another angle of looking at the pricing issue is that when the competitors are marking up at a low margin, the item is probably accepted by a lot of consumers. The justification behind it is that when the profit per piece is low, and people are trading them actively, there probably is a high demand for it. On short, the higher the profit margin, the low the volume of sales and the low the profit margin, the higher could be the volume of sales. Another point that is worth noting is that the volume theory also applies to jewelry vendors. If you buy in large quantity, pricing should go down automatically. Therefore, running a successfully business involves getting the balance between all the factors within the resources and infrastructure you have such as employees and capital.
Closeout Jewelry
Since jewelry business is highly time-sensitive, styles that were once popular several months ago may not sell at all couple months later. Therefore, when buying gold jewelry wholesale, you should estimate the monthly sales and stock according to the sale volume. For example, you may want to stock a certain style for two months worth of stock and restock it when it runs out in order to minimize the closeout items in the inventory, which is sometimes referred to as inventory shrinkage.
By understanding the market and your competitors before buy wholesale gold jewelry, you can reduce the mistakes during your entrepreneurial endeavor, thus increase the chance of succeeding tremendously.
About the Author:
Scott Murff got his MBA from MIT business school and currently is the marketing manager in 14K gold earrings that specializes in wholesale gold jewelry including gold and cubic zirconia body jewelry.
Article Source: ArticlesBase.com – Wholesale gold jewelry trading guide for entrepreneurs
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BEAUTIFUL 18K GOLD OVER SILVER TRI-COLOR DANGLING EARRINGS **NEVER WORN** $24.99 |
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VINTAGE GOLD DANGLING LOCKET PIN/BROOCH-LOVELY $25.00 |
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Dangling Chandelier Fashion Earrings Gold with stars $4.00 |
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African Mask, Tribal Wooden Dangling Earrings w/ Mauve, Blue & Gold Detailing $15.00 |
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GOLD TONE METAL OPEN FLOWER WORK DANGLING BLACK PLASTIC BEAD PIERCED EARRINGS $6.99 |
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Women Soft Argil Orange Flower Pendant Gold Tone Hook Dangling Earrings $3.02 |
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NEW ANN TAYLOR TEARDROP DANGLING LONG NECKLACE NWT SZ 40″ $38 gold $28.50 |
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Arinna Fashion Ladies Dangling Earrings 18K Yellow Gold Plated Swarovski Crystal $2.99 |
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GORGEOUS GOLD TONE BLACK DANGLING NECKLACE WITH MATCHING EARRINGS $7.08 |
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GORGEOUS GOLD TONE SPARKLING STONE DANGLING BABY PINK BIG JHUMKKI EARRINGS $5.80 |
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GORGEOUS GOLD TONE SPARKLING STONE DANGLING PEACOCK BLUE BIG JHUMKKI EARRINGS $5.80 |
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GORGEOUS GOLD TONE SPARKLING STONE DANGLING MEHANDHI GREEN BIG JHUMKKI EARRINGS $5.80 |
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Vintage Gold Plated NOLAN MILLER Pendant w/ Dangling Simulated Pearl 34mm 7g $34.95 |
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Handmade Beaded Dangling Green and Gold Earings $1.00 |
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Lia Sophia Necklace, Tuscan, Genuine Tiger’s Eye Dangling in Gold Oval, Stunning $18.00 |
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Handmade Beaded Glass Dangling Verigated Green, pink, purple and Gold Earings $1.00 |
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YELLOW & GOLD DANGLING COINS BELLY DANCE WRAP BELT $18.89 |
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BROWN & GOLD DANGLING COINS BELLY DANCE WRAP BELT $18.89 |
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Non Piercing Dangling Beads Hoop Belly Clip – BCLIP $12.99 |
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Adjustable Triple Dangling Circle Love Anklet Ankle Bracelet 14K Yellow Gold $217.80 |
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Adjustable Triple Dangling Circle Love Anklet Ankle Bracelet 14K Yellow Gold $217.80 |
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Adjustable Triple Dangling Circle Love Anklet Ankle Bracelet 14K Yellow Gold $217.80 |
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Adjustable Triple Dangling Circle Love Anklet Ankle Bracelet 14K Yellow Gold $217.80 |
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Adjustable Triple Dangling Circle Love Anklet Ankle Bracelet 14K Yellow Gold $217.80 |
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Adjustable Triple Dangling Circle Love Anklet Ankle Bracelet 14K Yellow Gold $217.80 |
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Adjustable Triple Dangling Circle Love Anklet Ankle Bracelet 14K Yellow Gold $217.80 |
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Adjustable Triple Dangling Circle Love Anklet Ankle Bracelet 14K Yellow Gold $217.80 |
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Adjustable Triple Dangling Circle Love Anklet Ankle Bracelet 14K Yellow Gold $217.80 |
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Adjustable Triple Dangling Circle Love Anklet Ankle Bracelet 14K Yellow Gold $217.80 |
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Adjustable Triple Dangling Circle Love Anklet Ankle Bracelet 14K Yellow Gold $217.80 |
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VINTAGE GOLD & CITRINE RHINESTONE DANGLING GEOMETRIC EARRINGS – AMAZZZZZING!!! $15.99 |
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CIRCLE 3.88 CT DANGLING WHITE CHAMPAGNE DIAMOND EARRING 18k white gold $2,395.00 |
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Handmade Gold Tone Brass Dangling Earring, ‘ Triple Makhrata’ – Nina of Egypt $14.99 |
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Handmade Gold Tone Brass Chandellier Dangling Earring, ‘ Coined Makhrata’ $14.99 |
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VICTORIAN 14K GOLD ORNATE PIN WITH DANGLING SECTION LOVELY PIECE $450.00 |
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New On Card Burnt Gold Crystal Heart Shape Drop Dangling Earrings $4.66 |
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New On Card Black gold and hematite 5 row long dangling necklace chain $6.24 |
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6 Piece BLUE CATS EYE Gold Wire Dangling Necklace New $9.99 |
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6 Piece PURPLE CATS EYE Gold Wire Dangling Necklace New $9.99 |
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6 Piece BROWN CATS EYE Gold Wire Dangling Necklace New $9.99 |
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Chanel Black & White Crystals Pierced Earrings Faux $6.50 The Size 1″ X 1/2″… |
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Department 56 Possible Dreams Clothtique Gold Gift Dangling Legs Ornament $17.00 Department 56 presents Possible Dreams Clothtique collectible Santas Dangling Leg Ornaments. The dangling legs wobble back and forth. 2010 marks the 25th Anniversary of Possible Dreams. All of the Clothtique Santa ornaments are individually handmade and each has slight differences in painting, fabrics, and some components…. |
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Pink Jeweled Dangling Key with Jewels Belly Ring – 14g (1.6mm), 3/8 (10mm) Length – Sold Individually $12.50 Pink Jeweled Dangling Key with Jewels Belly Ring – 14g (1.6mm), 3/8″ (10mm) Length – Sold Individually… |
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ET2 Lighting E22049-20 10 Light Flora Flush Mount Ceiling Light, $522.50 From the Flora lighting collection by ET2, this halogen light fixture comes with beautiful hand-blow gold glass and clear cut crystal. The vine and flower motif is set against a Flemish gold finish frame. Floating flushmount design…. |
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Bundle-03 Large Crystal Dangle Lamp Base (Set of 2) Finish: Ivory $115.20 [***INCLUDED IN THIS SET: (2)Large Crystal Dangle Lamp Base] Finish: Ivory Features: -Large lamp base.-Shade material: Silk.-Petal flower shade.-Crystal dangles and glass balls on shade.-Shade is optional. Options: -Lamp base available in ivory, white, blue, pink, black or antique gold finishes.-Shade available in medium or large sizes.-Shade available in combination of white and pink color. Speci… |
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5.5 Hair Claw Stick Clamp Clip With Pink Crystals $15.99 A gold finish metal hair claw decorated with many Austrian crystals. The strong spring holds hair up tightly. A practical clip that can hold thick hair, it has extra teeth along the edge. Size: 5″ long… |
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Multiple Feathers And Chains Head Band $14.50 Wrapped in brown satin, this metal headband features small feathers dangling from gold tone chains that are suspended from one side…. |
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Casino Party 30in Dangling Cutouts 3ct $CH-CHING$! These dollar signs provide a big pay-out of fun. Each package contains 3 dangling decorations in green, silver, and gold, measuring 30″ long each. 8″ dollar signs cut from sturdy card stock are attached by gold thread to metallic foil spirals. Each hangs easily from attached loop…. |
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Black Chiffon Dangling Gold Coins Belly Dance Hip Scarf $2.60 Wrap measures 65 inch length 11 inch in width,100% Rayon Features: – Simple and special, perfect for practice or just as a fashion accessory! – Beautiful color Egyptian belly dancing hip wraps hand crocheted delicately with multiple rows of beads and coins. – Light weight and jingly, this scarf got all coins and beads hand stitched on highest quality rayoone – This scarf creates loud and lovely so… |
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Chiffon Dangling Gold Coins Belly Dance Hip Scarf, Vogue Style -yellow $2.25 Model: HSF-1001, Chiffon Dangling Gold Coins Belly Dance Hip Scarf, Vogue Style.Fabric: chiffon.Coins: gold coins.Dimension: Wrap measures 53 inch (134cm) in length, which fits slim to 30 inch (76cm) waists.Recommended features:1. All beads and coins are hand sewn, not mass produced!2. This scarf creates loud and lovely sound when the dancers move and shakes hip.3. Perfect for practice or just as … |
14K White Gold Dangling Vintage Style Diamond Pendant
