Tuesday, January 18, 2011

GS: What happened to the Oscar Challenge?

I know, I haven't mentioned the Oscar Challenge in a while. Well... what can I say, I scrapped the idea. Literally.

It basically came down to the fact that the price of gold is so damn high! My original budget that I came up with was completely blown out of the water as the price of gold kept rising. Now, I did buy a good portion of the stones & about 1/3 of the 18K needed... and I did start building it. But then I became really concerned with the fact that I couldn't afford to buy more of the materials... so I sat on it.

It is just really difficult because I didn't expect the price to go up even higher than when we started. Yes, I know the market is constantly in flux, but I just didn't expect it to spike to an all time high. Ugh.

So... just like many other pieces of the past, it was worth more dead than alive. I was still hesitant about scrapping it, but after many talks with Sal, he reassured me that I will have another chance to build this because the metal market is a bubble and it will burst sooner rather than later.

And with that, I bit my lip, added everything to the scrap pile that was sent in for refining and tucked away the design for another day. I did save a few pieces for a couple funky rings to put on my Etsy and I already started using the sapphires for other projects. Oh, and I got a nice chunk of change from my refining that I can invest right back into the business (and put towards my student loans.)

But don't worry, there are plenty of projects coming up! I have a bunch of designs in the works (and I'm a little afraid that all of these projects will have the same deadline... but it will keep me moving!)

And, one day, I will build my bracelet.

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