We wanted to share a quick, honest update about our silver clay pricing.
You may have noticed that silver prices have come down recently and seem to be holding a bit steadier. That’s definitely a welcome change after how volatile things have been.
That said, there’s a bit more going on behind the scenes.
Behind the Scenes on Silver Pricing
Like most manufacturers, we purchase silver ahead of time and carry that inventory forward. A lot of the silver used in what we’re selling right now was bought when prices were significantly higher than they are today.
It’s also important to know that the cost of silver clay isn’t just based on the price of silver. The silver has to be processed into an extremely fine, atomized powder. From there, it’s combined with other ingredients and goes through manufacturing to become the clay you use. All of that contributes to the final price.
Our Strategy & The Industry
Over the past year, we made a conscious decision to hold our pricing as steady as possible, even as our costs increased and margins were absorbed.
Now that the broader market has started to shift, we’ve made some necessary adjustments so we can get back to a more sustainable place moving forward.
You may also notice changes across the industry. For example, Art Clay Silver, which we also carry, recently shared that the rapid rise in silver costs over the past year has significantly impacted their pricing, leading them to make difficult adjustments to ensure continued availability of their products.
We know that can feel confusing, especially when you’re watching silver prices come down. Just know that we’re not reacting to the market day-by-day. We’re working through real material costs over time and doing our best to price things fairly.
Our Commitment
We want to offer the best possible value while being upfront about how and why pricing changes happen. And when things stabilize in a meaningful way, we absolutely want to pass those savings along.
We do not know what the future brings, but we’re right there with you in hoping for more stable, and ideally lower (!) silver prices.
Thank you, as always from all of us at Cool Tools, for your trust and support.
