Are You Missing out because you don't have a "luxury" ticket price on your jewelry?

I just read a fab On Style article by Christina Binkley online at the Wall Street Journal titled,The Psychology of the $14,000 Handbag .

Christine bring up some interesting points why so many successful companies have at least one high end almost absurdly priced item. Many people will buy a lesser priced item as a consolation prize even though it is the high $$$ ticket item they really covet.

Looking at my current business model, the highest priced jewelry item I have had in the past is my sterling silver crocheted designs with pearls and gemstones (Retail: $300-400). Did I sell a lot of them? No, but they are a great draw; so many folks can't resist picking up these necklaces even though their eyes bug out at the price!

Anyways, I thought this was worth sharing with y'all as so many artists struggle with pricing their craft....often they undercharge...which is a whole other story!!!