My Silver Wish pricing promise

I pride myself on offering competitive prices for My Silver Wish 925 sterling silver charm stacking bracelets and rings. Each time I create a new bracelet or ring design, I carefully work out the cost of each to ensure you, my lovely customers are getting the best value for money.

My Silver Wish is a micro-business and the modest profits that I make for each sale of a bracelet or ring are mainly invested back into the business to buy more materials and packaging. There are no shareholders or investors involved in My Silver Wish and that really helps me keep my prices reasonable. I pay myself a salary each month: my mortgage needs paying and my kids always need food and clothes. 

So how do I calculate the price of each bracelet and ring?

I carefully choose the best materials at the best prices from a range of quality suppliers, mainly based in the UK. I always buy and use 925 sterling silver beads, piping and charms and never use silver plated materials which are cheaper but often tarnish.

I know the cost of individual 925 sterling silver bead, charm and pipe, so I'm able to calculate the cost of each bracelet and ring design. But, in order to run a business that pays for itself, I also have to factor in other costs such as:

  • Gift boxes
  • Packaging
  • Shipping charges
  • Advertising fees
  • Website fees

Since I understand all the costs involved in bringing each My Silver Wish bracelet and ring to your doorstep, I'm able to calculate a competitive price that doesn't need changing all the time.

What do I do if my costs change?

If one of the costs of running My Silver Wish looked like it was going to increase for good (or decrease), I would need to change the price I charge for bracelets and rings. For instance, if Royal Mail increased their postage charges I might need to increase my prices. Likewise, if the price of 925 sterling silver fell, I could reduce my prices.

Sometimes, my costs change for a small amount of time, and in these instances I always aim to cover the costs from my profit rather than increasing the price you pay. For instance, when Royal Mail delivery times became unreliable during the Covid 19 pandemic and lockdown, I switched to First Class Signed For to dispatch your bracelets and rings at no extra cost to you, my customers. I did this because it was really important for you and me to be able to track your delivery and because I knew Royal Mail would become more reliable, at which point I could swap back to First Class delivery eventually.

How do I pay for charitable donations in your purchases?

I love it when My Silver Wish can help people in need, so I often create bracelet and ring ranges where a modest portion of the proceeds of each sale goes to a charity. For instance, I donate £1 to a charity called Young Minds for every sale of my Rainbow Crystal Hope bracelet which I designed during the COVID 19 pandemic lockdown.

A £1 donation might not sound much and larger businesses will undoubtedly give larger donations as they earn larger profits. I price each bracelet and ring individually to ensure you, my customers are not overcharged, so there's only a modest profit from each purchase which is mainly ploughed back into buying materials for more bracelets and rings. As a result, I keep donations small but I know that every penny given to a charity is gratefully received and it's a small way that you and I can help those in need.

Back to blog