| Prices at Teeda.com REDUCED - Silver Price Reduction |  | | As many of our customers well know, the cost of raw silver has been increasing rapidly. Over the past 3 years, we had kept the prices of our merchandise relatively steady even though the cost of silver had nearly tripled over the same period. When the price of silver reached $14 per ounce in May 2006, we were finally forced to raise prices on many items on June 1, 2006.
Since the beginning of June, the price of raw silver has declined modestly. It seems to have stabilized at $10-$11 per ounce for the time being. While this is still roughly double the price of $5-6 per ounce from three years ago, the reduction has enabled us to lower prices for virtually all styles that were subject to the June 1 price increase.
We have reduced pricing by as much as 33% for over 2,200 items. The average price reduction for these items is 20%.
This reduction is effective as of the evening of June 27, 2006, and affects most items in our collection except for our rhodium-plated styles, whose prices did not increase on June 1, 2006 (the unaffected items are most BZ, PZ, RSZ, RZ, styles, and some EZ styles).
Please be assured that we will constantly monitor the situation, and will of course reduce prices even further if our manufacturing or raw material costs go down further in the future. And conversely, if the cost of raw silver goes up again, we will have to review our pricing at that time as well. Thank you kindly for your understanding in this matter.
If you have questions or comments, please feel free to email us by clicking on the Contact Us link at the bottom of the page.
And thanks to all of our valued customers for your business.
Sincerely,
Customer Service
Teeda.com
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