A $40,000 Diamond Tennis Bracelet

[cabinetman]

That's right. Years ago every Sunday, one of the large chain jewelry stores would have a full page ad with one item that was really high priced. One Sunday I saw this ad for a $40,000 diamond tennis bracelet, and a picture of it that was huge. At that point the ad taught me two things: First, that a simple offering but grandeur in nature establishes a sense of quality and sincerity. Second, that the advertiser is soliciting a specific clientele. Each week they would have a different piece for sale, but only one piece.

So, I thought to myself, why not design and build some extravagant piece of furniture with an exorbitant price and run an ad the same way. Maybe like a carved table, or some really detailed piece of furniture with different species of woods. Put a price like $40,000 on it and just wait for the one person that may buy it. They are definitely out there allright.

This whole thought process had me really going. I've always admired the timeless pieces that survived fad and fashion. Like all the Louie and Henry period furniture, and lets not forget Queen Ann. And then there are the pieces that became the "trendsetters", like the Parsons table, the Eames chair, and styles attributed to Chippendale and Stickley brothers to name a few.

So there I was, working 6-7 days a week making cabinets and furniture as ordered. Being of sound mind (pretty much) and body (then) I thought why not come up with my own design in my spare time and promote the pieces just like the tennis bracelet. What a revelation that would be, to be remembered by a style, called by your own name. Well the "spare time" just doesn't happen. There is a big difference in earning a living and making money.

And now, 35 years later, semi retired from the business end of the craft, and with some physical problems, I'm considering taking that stab into the market. It would take getting pieces to the furniture and design shows and exposure to the designers.

I don't know what would have happened even if I did have the time, but making the attempt is what it's all about. At this stage in my life maybe I would advertise a custom piece for $40,000, and be up for negotiation.

[jackellis]

Ten years ago I was working as an independent consultant and making decent money. Then I was asked to start a company. The work would be interesting, it would do well by doing something good, and I might make a pile of money. I invested a fair bit of my savings.

Today the stock certificates are just about worthless, though not entirely so. My role did not end badly, but it did not end well either. Still, it was a great experience, I learned a lot, and I have no regrets. It was certainly better than what I'm doing now, which pays well enough but drives me nuts.

Go for it.

[LCHIEN]

reminds me of the Jack in the box commercial a few years ago.
Jack was wandering down the aisles at a fast food convention and there was a scruffy, bored young kid sitting in a bare boooth on a folding chair with a simple sign that said taste test your food - $20,000.

Jack asked him, "get many takers?",
the kid shook his head slowly but then said "It only takes one!"

[Alex Franke]

I think the economists call these things veblen goods -- if it doesn't sell at $20k, just keep bumping up the price until it does. Kind of counterintuitive, but when people see the price going up they think the value is too. There's a bit of a snob effect, too -- I must be very special if I can afford a ridiculously overpriced bracelet.

[Thom2]

My daughter's grandfather does something quite a bit along these lines. His pieces are VERY-HIGH-END (www.lwcrossan.com) and he has quite an exclusive clientele that is willing to pay for the absolutely amazing work that he does. It can be done, but certainly takes finding the clientele.

I've been fortunate enough to see a fair amount of his work in person and I must say that the craftsmanship that goes into these pieces is absolutely magnificent.

A few years ago, we assembled a group from the forum (including Sam) to tour his shop. As Larry showed his work, watching the faces on the individuals was priceless.

[MilDoc]

.. and he has quite an exclusive clientele that is willing to pay for the absolutely amazing work that he does. It can be done, but certainly takes finding the clientele.

Right. Finding the clientele. So, how did he do that?

[Jeffrey Schronce]

Right. Finding the clientele. So, how did he do that?

Living in the right area of the country seems to go a long way there. Generally, a lot of the ultra high end guys are in the NE US where they have the most affluent markets in the country in a highly concentrated area. There are quite a few guys in PA that are selling $50,000 conference tables to biz in NYC and Philadelphia. This group is making a fortune in the Phila area . . . http://www.nakashimawoodworker.com/ I was in a home last year that had a wonderful live edge crotch slab table by Nakashima with "floating" chairs. The group was stunning.
The New England states also produce a large share of the ultra-high end market.

[Tom Slick]

I had an art teacher that sells his paintings for upwards of $8k-10k each. they hang in some really famous people's houses. it sounds like alot of money but when he works on them for months and sells 2-3 a year, he really isn't making much money.
I think that if you could do it as a hobby and it was fun then it would certainly be worth it. you'll have to establish a reputation, that's what people really pay the big $$$$$$ for.