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business terms: mark-up, wholesale, consignment vs comm

updated wed 2 feb 00


John Rodgers on tue 1 feb 00

Terms often used in sales are "keystone" pricing, and "price points"!
Keystone is the simple doubling of the wholesale price and putting the item on
the shelf. "These items sell at keystone!"

Price points is another way of stating price, wholesale or retail. If you are
asked what are your price points, depending on the nature of the discussion, you
may be discussing you volume breakover price. That is, 1 item for $10ea., 10
items for $9/each, 24 items for $7.50/ea. etc. You may also be talking about
markup again. "Price points on these items are 1.15." The 1.15 is a 115% markup
So an item that cost 1$ would be $2.15..

Just to confuse things......!

John Rodgers
Birmingham, AL

Joy Holdread wrote:

> ----------------------------Original message----------------------------
> Business terms vary from country to country.
> To the best of my knowledge in the USA:
> Markup is when a retail outlet raises the wholesale price. (Usually 50%.)
> Wholesale is the price artists sell to retail outlets. (Usually 50% of their
> retail price).
> Consignment is the term for leaving works of art with a retail outlet,
> gallery,
> craft shop, gift shop and receiving payment when the work sells. In Arizona
> USA within 30 days by law.
> Commission is the artist paying someone when they help sell works or the term
> is also used when a person pays an artist to special design & make a work of
> art.