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Thursday, January 13, 2011

$$$$Silver$$$$

Sterling Silver, which is the metal that I prefer to work with, is getting extremely expensive to buy. Silver prices have sky rocketed recently, especially within the last few months. Shortly before Christmas, I could buy a 1ounce roll of 21 or 22 gauge wire for about $30.00. When I checked yesterday, that same roll is now going to cost me $42.00!



Yikes...it really is getting crazy! All those beautiful silver beads, clasps, chains and findings are now becoming extremely pricey to buy.



Over the past few months I have started to use a lot more copper and brass in my designs, so that I can keep offering one of a kind creations at affordable prices. I am also using a lot more vintage findings, and chains and repurposing jewelry, so that I can achieve the desired looks that I want to create, without breaking the bank. That way I can pass the savings onto the consumer, who can still purchase a handcrafted piece of fashionable jewelry at a reasonable cost.



I love working with silver, and I will continue to offer sterling silver and gold vermeil pieces, but unfortunately the prices on the new items with these precious metals are going to be substantially higher. However, I will always create all of my earrings with sterling ear wires, due to the fact that many people have allergic reactions to less expensive metals that are worn in the ear. Every jewelry designer is in the same boat, so it won't be too long until you will see prices increase in all jewelry that is made with sterling and fine silver. So if you have been thinking of purchasing anything made of sterling or fine silver, my advice to you is don't wait....because the price of silver is forecast to steadily increase.

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6 comments:

Jane Perala said...

It's kind of scary - where is it going to level out? Sure makes me wish I had purchased more a year or two ago. Hindsight is 20/20 I guess.
I love copper, and use it quite a lot - but I noticed a few of my customers were not really interested. It will probably take a while for them to get used to the copper and brass - hopefully not too long!

Catherine said...

Crafting is sometimes very expensive. But it brings us so much pleasure! :) Silver is my favourite too. Very pretty.

xo Catherine

BeadedTail said...

It is hard when the prices keep going up because then the sales slow down. Hopefully the prices come back down too!

Nancy said...

Wow...that's too bad. And you know, I'm glad you posted this because I don't think people really think about (including me!) pricing for jewelry in terms of the fluctuating metal market- good to know!

sundownbeaddesigns said...

I know...Yikes! I'm just wondering when it's going to stop going up and start to level off. Then, will clients purchase at those $$?

Cindy said...

I hear you on the silver prices. I am using it less and less, as much as I love it. You are so right that we are all in the same boat. :-(

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