In this article we will explain what each Sell Method is when uploading a new Sample, and why it is important to set this correctly
When uploading a new sample you must enter the Sell Method of the item you are uploading. Here is a description of each of the options.
- Fixed with metal lock - This applies to any suppliers producing fine jewelry (gold, silver, or platinum) who wants to quote an item at X price using metal fix Y, even if Y is the live price.
- Fixed no metal lock - This applies only to suppliers who sale fashion or custom jewelry. This is because the metal used has no commodity value.
- Labour per gram - This is the suppliers labor price multiplied by the total weight of the item, to which is added the value of the fine metal weight.
- Labour per price - This is the suppliers total labor of the piece no matter it's weight, to which you add the value of the fine metal weight.
- Increment - This is a way to give your customer price banding, and will vary depending on the metal fix. You will need to provide two prices and two different fixes so that Loupe can work out the increment value. Working this way will protect you from commodity fluctuations.
Note: Loupe is a live application, meaning a buyer may choose to view your samples at a different fix to which you have loaded the samples. That change in price is driven by our algorithm using your the inputs you have provided.
Common Questions
Where do I enter the price?
Price is entered under Materials & Sizes due to the fact that you may need to enter a different price per metal title, and even possibly per size inside a given metal title (for example a diamond set eternity ring).
I want to see an example of how the algorithm will reprice my sample before choosing my sell method.
Great! highly recommended to do this. Upload a sample, and when you are done go to your showroom. Inside the showroom at the top you can click on Set Metal Prices to enter a metal fix of your choice and see what happens to your sell price. Click into the sample detail page to remind yourself what data you entered during loading to Master line.
Will I need to input a breakdown of cost for each sample? (eg. Labour, Stones, Setting, etc.)
No. Your entered cost will only need to be a final cost, not a breakdown. All costs should be included in your price. So for example, If I load using Fixed - With Metal Lock sell method, and I load a gold diamond ring for $123 @$1100 gold with a 7.5% metal loss, then my $123 should include all metal costs, including loss, and including all diamond costs.
Does Metal Loss % affect the algorithm?
It depends on the sell method. Fixed - With Metal Lock, Labour per Gram and Labour per Piece will all require the algorithm to adjust the Metal loss value when calculating prices at new metal markets requested by users, so Metal Loss % will affect the calculation. For Increment, Metal Loss % is not required by the algorithm, and will not affect the calculation.
Can you provide some examples with relevant choice of Sell Method?
Sure! Please find below:
- Fixed - With Metal Lock = Common in casting & stone set product. Most widely used Sell Method globally. Used with precious metals only.
- Fixed - No Metal Lock = Mainly Used for brass, stainless steel, titanium, etc.
- Labour per Gram = Common sell method for gold and silver product without stones, eg chain or stampings. Most common Sell Method in Italy.
- Labour per Piece = Common sell method for gold and silver product without stones, eg chain or stampings. Most common Sell Method in Turkey.
- Increment = Uncommon Sell Method for factories, normally used on customer request. Can be a smart option to protect margin.