Silver Gone Crazy!

Nope.  I don't get to write a great blog about terrific new designs -- this one is about the price of silver and what it may mean for my business.  Like many other jewelry designers, I'm feeling the pinch. 

Winter is my "slow time" -- I'm not doing craft shows and because I don't need to replace my supply as quickly, I haven't been buying silver lately.  I bought some silver at the end of January to do a couple weddings and now that I'm preparing for my first craft show (in May), I'm checking my stock and browsing at my favorite sterling supplier.  Needless to say, I was SHOCKED to see how the price had risen!!  When I last purchased silver, the price per ounce was hovering around $27.  Today it's over $45.  This is going to necessitate some price increases -- I wonder if my customers are going to understand?

I have an excel spread sheet that I've devised to track the costs of making each jewelry design I offer.   There is a list of the supplies I use and in the next column the individual cost of each item.  Because most of my designs use multiples of some supplies, I also have columns that multiply the individual cost by certain quantities -- x2, x4, x6, x8 and so on with a few larger quantities to allow for making necklaces which use larger amounts of some components.  (This may seem a bit complicated, but when I was setting it up, I couldn't figure out how to multiply a single component within the formulas I was going to use.)  In this sheet, there is also a list of the designs I make and in the column next to that, each design has a "cost formula" -- a list of the components needed using the cost of each.  For instance, if a pair of earrings uses a 6mm pearl, I'll need 2 (1 for each earring) -- in the formula, I list the box number (column letter and line number) for the cost of 2 pearls.  Each component is listed using the cost for the quantity used and all the component costs are added using the "sum" function to give me the actual cost of making each individual design.   I hope this is making sense -- it sounds a lot more complicated than it is.  This system becomes very effective when I need to change the price of a component.  Today, when I changed the cost of a sterling silver headpin, the cost of every piece of jewelry using headpins was appropriately adjusted.  I can now determine what price I should charge for each design, with the full knowledge of exactly how much the design will cost me to make. 

Unfortunately, today, I had to change a lot of silver prices.  From here, there are different thoughts on how and when to change the prices of my jewelry -- and maybe I can get some feedback from you. 

1.  Even though I haven't purchased silver at the higher price, I should raise prices now to accommodate the new costs.  While on the surface, this may not seem quite fair, it should be noted that I like to keep my prices the same throughout the entire craft show season -- if I raise prices now, I probably won't raise them again this year.  Because I suspect that silver prices are going to continue to increase (the prices are tied to the value of the dollar and as long our government continues it's current course of printing more money and huge spending, the dollar is going to continue to decline), later I will be absorbing additional increases without raising my prices. 

2.  I can raise prices as I purchase new silver.  The upside is that customers buying from my old supply would be paying my old prices.  The downside is that it will also cost me time and money to re-label every time I use more expensive silver.  My craft shows all fall into a certain geographical area so it's entirely possible for a customer to see me at more than one show -- if prices rise between shows on an item they were considering, will they really understand?  Or will it deter them from making the purchase?  

Anyone have any thoughts?  

I've been reading some forums .. it sounds like a lot of jewelry makers are going to increase their use of copper.  I haven't decided how I feel about making such a change for myself ... and maybe we'll explore that on another day.  I also have some concerns about even doing craft shows this summer -- we'll save those thoughts for another day too.

Back to work!!

I've been gone for awhile ... not just from blogging but from home.  My husband and I are in a ministry and our income relies on financial support from churches and individuals who believe in the importance of what we do (constructing buildings for very small congregations).  We're taking some time off our regularly scheduled work for a break we call "furlough".  Make no mistake ... furlough is NOT a vacation!  We plan to visit our supporting churches, make some major repairs on our RV (which we live in full time, any weather), try to raise some additional financial support and get caught up on a few things that are difficult to do when we're building.  We'll get a little time for family and fun too and our youngest daughter is getting married in June.  Our last couple projects have had some extra challenges -- so a little rest is in order as well.

So, for our first trip, we had to go to Florida to speak to a couple of our churches ... not that we minded!  When we left home in February, the snow was up to our thighs -- the sun was a welcome change!!  We were several weeks in the sunny south, then headed to New Mexico to spend a few days with our niece and her family.  From there, we made our way to Denver where we spent a couple weeks with our daughter and her family.  We got to celebrate our granddaughter's 7th birthday and had a blast with the grandkids!  Our granddaughter returned to Michigan with us for her 2011 Grandma Tour (she got to see 3 of her 4 grandmas) and we met the kids in Omaha to return our granddaughter to her parents.  We're finally back home, settling in to some routine and trying to get some things picked off the "to do" list.  

Hopefully, in the weeks ahead, I'll be sharing some of the business changes and updates we're making and I'll throw in a few tidbits about the wedding plans.  May will see us traveling to visit several more churches and the season's first craft show is coming up.  I may be looking for input from some of you too -- how is the economy changing your business?  Are you doing anything differently?  I think our creativity is going to be put to the test -- not our artistic creativity, but the business side of doing what we do.  Gonna be an interesting ride!!!

The Fingerprints of God

I know.  I know.  It's been a while since I've been here.  My life has been wildly busy these past few months and something had to give somewhere!  I had a full slate of craft shows through the fall, most of which went very well.  Then I moved -- one Saturday I had a craft show in Green Bay, WI ... on Monday and Tuesday I moved .. Thursday was Thanksgiving with my family and Friday and Saturday were another craft show in mid-western Michigan.  I got to spend 3 weeks out and about for the holidays visiting my children and grandchildren --- had a blast!!  Totally passed on making any New Year's resolutions.  Now it's time to get back to work.  I'm in a new state, which means finding all new craft shows for the year.  I know a few I'd like to apply for but am hoping for input on some of them.   Doing some research.  

Over the New Years weekend, we were visiting family in Grand Rapids MI.  We saw billboards for a wedding show this weekend -- my husband suggested that I find out about it.  We have felt for some time that my jewelry would be fabulous for brides -- I have LOTS of Swarovski crystal colors and can match ALMOST any bridal party.  For a couple years now, I've been hearing the same comment from customers at craft shows -- "I wish I'd seen your jewelry before I got married!".  A while back I formulated this plan ... I'd do a small local bridal show just to see how it went and figure out what to expect.  Then I'd work my way up to try some of the larger shows ... like the one in Grand Rapids.  If you've never checked out the vendor pricing, I gotta tell you that the big show are PRICEY ... a whole lot more expensive than booth fees for a craft show. 

So early this week, I finally got around to inquiring.  I expected the show to be full.  I expected it to be expensive.  I really didn't expect to do it this year.  But I'd check.  The contract was emailed to me, and as expected, it was way out of my budget.  On Wednesday, I replied with a polite note, declining for this year but asking to be contacted for next year.  I figured it was a done deal.  Not so much!  On Thursday morning, I found that I had another email with an offer -- they didn't normally allow vendors to share a booth, but they had someone who wanted to and would make an exception if I was interested.  The booth fee was nearly half off.  My heart lept into my throat!  It was tempting, but even at half off, it was out of my budget right now.  I hit the reply button to decline ... but I'd lost my internet connection .. and couldn't seem to get it back.  Ok .. email later.  My husband and I needed to run a couple errands .. I wasn't even going to mention the email but "just happened" to ... he was instantly excited and ready to go!  But I protested ... didn't have the money.  We talked about it -- he was so confidant that it would be a good opportunity for me that he was willing to borrow the money!  I wouldn't -- just didn't feel right about that.  Being in a ministry, we occasionally get special gifts -- although I thought that we had probably received all our Christmas gifts, I said that if there was something we hadn't been credited yet, we'd do the show.  He checked ... all the money we needed was available!   SO .. I called the organizer of the show and told her that I would do the show!  At 2:00 on Thursday afternoon, I found out that I was "IN" .. for a show that was 2 hours drive time and started on Friday afternoon!  So much for dipping my toes in and starting out slowly -- I was about to cannonball into the deep end!!

Fortunately, in my long range planning, I've given some thought about the differences between a craft show and a bridal show.    At a craft show, customer are there to buy on the spot ... at a bridal show, customers are there to browse for specific needs.  The craft show fee is much lower and I recover that expense on the day of the show.  A bridal show fee is much larger and is an "investment" -- sales will likely come later.  The potential for sales success is huge .. but the risk is also huge.  This was a very scary proposition for me!

My husband has been a real cheerleader this week!  He was totally confidant -- I've been scared to death.  But we began to consider all the unique aspects of doing this show ... what were the odds that they would have an open space?  This is the biggest bridal show in our side of the state and getting in to the show is very competitive.  What were the chances that I'd ever be allowed a discount?  What were the chances we'd come up with the fee?  And as hectic as our lives have been, what were the chances that we'd be available at the right time?  How weird was it that I lost my internet connection and couldn't get it back to refuse the offer?  There were several other small details that all fell into place ... what were the chances?  When we took it all in, it suddenly became so obvious ... God's fingerprints were all over this situation!!  Oh, and the final stamp?  When I got to the show to set up, the person I was supposed to be sharing a booth with never followed through -- we had the whole booth to ourselves ... and our location at the show had been moved from a far back corner to a very high traffic spot.  What are the chances?  I'm thinkin' that when God has His fingerprints on it, it's all going to work out!!

Retro? Vintage? Fashion Watch!

There's a lot of chat about retro and vintage these days.  Etsy has an entire category dedicated to it and if you search for "vintage" you'll come up with over 800,000 items.  A search for "vintage" on Ebay comes up just short of 3 million listings.  When people started talking about "retro" and "vintage", I have to be honest -- I didn't get it.  I didn't understand why it was such a trend.  And in these past couple weeks, as I've been reading up on fashion trends for the future, I'm seeing a lot of "vintage" and "vintage inspired" looks heading our way.  So why is it so popular?  I'm not sure what everybody is thinking, but I can see a few reasons.

First, it's part of the "green" movement.  Instead of throwing things into landfills, we are looking for ways to re-claim an item's usefulness.  "Upcycled" and "repurposed" items are a hot commodity -- finding new ways to use old things.  Old blankets and quilts are made over into pillows, vests, stuffed toys and ornaments.   Blue jeans become purses.  Steampunk jewelry uses parts from old watches and well worn children's books are used to make stationery.  Old plates become clocks.  This etsy seller used an old chair to make an awesome tree swing:

(http://www.etsy.com/listing/54946917/repurposed-dining-room-chair-tree-swing)

Second, it's not unusual in difficult economic times to "tighten your belt" and "get along with what you've got".  Our grandparents and great-grandparents did it during the Great Depression of the 1930's and again during the World Wars.  If their clothes still "had wear in them", they wore them ... for 2, 3, 5 years or even longer, regardless of what the fashion trends were.  And when their clothes started wearing out, they cut them up and used them for quilts.  They "repurposed" ... not because they were concerned for the environment, but out of economic necessity.  For those of us feeling the economic crunch of our current day, we look around at what we have and envision new life for our old stuff.  Finding new ways to utilize old things not only feeds our need for financial consciousness, it brings a sense of satisfaction.  We are productive and have accomplished something beneficial.

And finally, it's the simple nostalgia of it.  It reminds us of times we remember as simpler and less complicated, easier, and less worrisome ... times when we felt safe.  It's grandma's house or an old photo album.  It's the connection to our roots and our families.  It's the smell of cookies baking or making snow angels.  It's drive in movies and the refreshment of going swimming on a hot summer's evening.  It's a family picnic with fresh-squeezed lemonade.  It's snuggling under a quilt with a big bowl of popcorn.

"Vintage" represents happiness and contentment, love and family, stability and perseverance, character and creativity.  Fashions have often been more a reflection of the culture than the leaders that shaped the culture and judging by the fashion trends I've been seeing lately, our clothes are going to reflect our desire for happier times.  While we're not going back to pillbox hats, some of the fashions are going to be cut simply and elegantly, much like Jackie Kennedy's wardrobe while other styles are going to be sweetly flowing romantics.

The book of Ecclesiastes in the Bible says that "there is nothing new under the sun" and there is an expression that "everything old is new again"  -- I think "vintage" is going to be with us for a while!

The Colors of Spring

Fashion week is behind us.  The Spring 2011 colors and fashions have been introduced.   I'm absolutely no expert about forecasting colors but I've been trying to do as much reading as I can -- if you google "fashion color forecast spring 2011, you'll get way more info than you could ever possibly need!   But in my reading, a few major color trends have popped out at me -- so I'll share them.  

In general, over the past few years, colors for fashions as well as home decor have been fairly saturated and there has been much use of contrast to make colors really pop.  We're still going to see some of that with some rich tones being used, but there is also going to be a new trend toward soft washed pales -- looking very vintage.

Blues

It looks like blues are going to be really big in fashion colors next year!  I saw a lot of references to New Navy, a slightly lighter version of the traditional navy we all know.  I'm also seeing a LOT of Caribbean, water and sky blues in a range of aqua to turquoise.

Pinks

I'm not seeing a lot of mid-range or clear, pure pinks for next spring -- pinks are soft and pale with hints of silver or nude OR they're fairly intense and bold.  The soft pinks will be very vintage light roses and the intense pinks are really going to pop!  Look for colors like shell pink, blush, salmon pink and aged light pink or watermelon, raspberry, fuchsia and honeysuckle.

Oranges

Orange seems to be all over the place!  But in all the colors, there were really 2 basic trends -- rich, intense, saturated orange or pinkish coral shades.  It makes sense that orange will be big -- if you look at the color wheel, orange is opposite (or complementary) for blue.  I shared some color wheel info last spring regarding craft show displays but the color wheel is the same for any color application:  http://gentleadornments.blogspot.com/2010/03/display-thoughts-creating-scheme.html
Look for melon, papaya, paprika, bird of paradise, peach, salmon, and coral, coral, coral!

Greens

I didn't pick up on any specific greens -- maybe I missed something?  It seemed to me that each designer was using whatever shade of green best suited the rest of their respective palettes.  Someone using intense colors also used intense greens -- someone using soft washed colors used soft washed greens.  It appears that greens will not be strong stand alone colors but will be used to add life to overall prints.

Reds

Plan on lots of red!  It works with nautical, florals or African inspired prints.  Reds are going to be rich and intense.  Look for poppy, lipstick and fiery reds.

Yellows

The sunny lemon yellows that have been popular for the past few years are going to start to give way to yellows touched by honey or amber.  Look for sunflower, buttercup and beeswax.

Purples

Like the pinks (with little in the mid-range of colors), it appears that purples are either going to be color rich or the range of soft lavenders.  

Neutrals

LOTS of neutrals are coming down the pike!  There will be an abundance of blacks, whites, tans and grays, along with all their variations like ivory, bone, khaki, camel taupe and silver. 

A major style trend seems to be the use of neutrals or very soft colors with touches of intense colors to give them punch.  I see lots of gray or khaki or black & white prints touched with blues, corals or reds.

Some (but not all) of my information comes from this website:

http://www.pantone.com/pages/Pantone/Pantone.aspx?pg=20752&ca=4

You can download a pdf of the Spring 2011 fashion forecast.  I did read up several other sites which offered differing opinions.  While this post is not complete, it's a few of my broadest observations... and my observations may be somewhat influenced by my personal color preferences.  But this should give a general starting point for my design planning (and supply purchases) for next spring's inventory.  If you have other observations, I'd love to hear them!

This Country Girl

No doubt about it ... it's been a busy summer.  I expected to move but didn't (yet) so I packed (and now have to unpack stuff because I haven't moved).  And my business has kept me busy.  In anticipation of moving, I applied for a tax license in my new state and registered my business name.  And with a desire to offer more products, I have expanded my selection of colors and worked on some new designs.

I've also managed a few domestic moments.  I did a little gardening in buckets.  Got a little sewing done.  Experimented with a few new recipes.  We've picked blueberries about 4 times -- not sure how, but that became addictive.  And in some not-so-domestic moments, I've been able to go to a couple Nascar races (and have even fixed dinner for one of the Nationwide teams).

Before I knew it, our days have turned crisp.  A few leaves are starting to turn shades of gold and orange.  Farmers are harvesting crops.  And it's football season.

I'm just a simple country girl.  I like quiet pleasures and wide open spaces.  I love to play in the dirt (and call it gardening).  I like the smell of the breeze after the rain.  I love the sound of a shallow creek dancing over stones.  Even in my travels, I've loved the gentle drive on the Blue Ridge Parkway, sunrise on the Atlantic Ocean, the southwest deserts in bloom and sunset on Lake Michigan.  I love the colors, the views, the sounds and the smells (well, most of them -- there was this skunk....).

In a part of the world, very remote from my own, the big name fashion designers are launching their spring lines.  It's Fashion Week in New York City.  Now, I've always been a blue jeans and t-shirt kind of girl and I've never been interested in couture.  When I started making jewelry, it wasn't because I loved wearing it -- I loved the art, the craft, the sense of balance and the creativity of it.   But this year, for the first time in my life, I even bothered to pay attention to the fact that it's Fashion Week.  I'm watching the colors.  And when creativity inspires creativity, well, let's just say I have a few new ideas floating around my head.

It's not very likely that I'll be tempted to trade my jeans for runway style, but next spring, when the new clothes hit the racks at Macys, Penneys and Walmart, they will be coming out in the colors seen this week in NY.  And when you buy that cute new blouse or sassy dress, I'll have the perfect jewelry ready for you.  

Drop by anytime ... I'll leave the light on.

Color of the Week - Tanzanite

Tanzanite is actually a semi-precious stone found in the African country of Tanzania.  It's often lilac colored although as a stone, it can also be anywhere in a range of sapphire blue through violet through burgundy.  Inspired by this beautiful stone, Swarovski created the Tanzanite crystal ... and I've chosen Tanzanite as my color of the week.

I'm also featuring my design "Cheryl's Smile" -- named for my friend Cheryl who always makes me smile!  It has great "swing" and is one of my personal favorite styles (I have several colors!).

Please drop in for a visit at my Etsy shop -- click on the section called "My Favorite Girls" -- any jewelry found in that section can be specially made in Tanzanite.  From June 23-28 (2010), you may purchase designs in Tanzanite at 20% off*!  Please convo me with your requests and I'll prepare a special listing for you.
http://www.etsy.com/shop/gentleadornments

Cheryl's Smile in Tanzanite Crystals