Considering the current silver rate, why is silver jewelry expensive?
This is what many customers ask us. Why does silver jewelry seem pricey? In return, I ask them a simple question: Do you get Furniture at the Rate of Plywood?! (Obviously NO!)
As an insider, without beating around the bush, We will list few reasons why silver jewelry is Pricey.
High Labor cost
Each and every piece we make takes close to a month to complete. Sometimes the complexities do not allow us to finish a piece even after 45 days. Every single piece passes through various hands. One Karigar may be skilled in only stone setting whereas another may be skilled in casting, or finishing. These are the same karigars who used to work as Gold Karigars but due to low demand of gold jewelry after covid era and lack of opportunities, they have started working with for us.
High operational Costs
Not all items are made locally. Some items have to be sourced from various parts of the country and the globe. In such circumstances, lockdown/import-export restrictions elsewhere leads to increase in the price of raw materials which directly impacts us. On the other hand, increase in prices of crude oil increases the logistical cost by multifold.
Gold Plating & Coating
Gold doesn't come for cheap and so does Gold Plating. Each piece at Saanchi's is first Gold Plated and then Double lacquer coated in professional facilities which prevents the gold polish to fade thereby increasing the life of Gold Plating.
Therefore, all these factors play a crucial role in deciding the price of a piece. Even though some people feel Silver Jewelry is pricey, Imagine purchasing the same piece in 22k 916 Gold for 10 times the rate of Gold Plated Silver jewelry. This makes Silver jewelry much affordable.
Here are the advantages of purchasing a Silver Jewelry.