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The Third ABPC Commercial Prize

The Third ABPC Commercial Prize, to be awarded at the Worshipful Company of Pewterers’ Pewter Live 2016 Competition.

The Competition will be held at Pewterers’ Hall on 24th, 25th and 26th May 2016. For details of the programme, see the Terms and Conditions below.

The ABPC is delighted to be funding its third Commercial Prize, the objectives of which are:

  • to encourage entrants to think, in addition to their creative design, of the commercial reality of the marketplace; and
  • to encourage the design of a piece or pieces to which a pewter manufacturer wants to acquire the rights in order to make and sell it into the marketplace.

The cash value is £250, but the follow-on value, if a manufacturer were actually to take the design to develop it commercially, could be much greater.

For more information about Pewter Live 2016, click this link.

Terms & Conditions for the Commercial Prize

The ABPC is happy to announce the third year of its new ‘Commercial Prize’, open this year to all entries

Pewter Live is first and foremost a design competition; but the objectives of the ABPC’s prize are:

  • to encourage entrants to think, in addition to their creative design, of the commercial reality of the marketplace; and
  • to encourage the design of a piece or pieces that a pewter manufacturer wants to acquire the rights to in order to make and sell it into the marketplace.

Items can, at one end, be aimed at the luxury market; and at the other at the mass market.  Different considerations of commerciality would apply, and ‘commercial’ means different things to different people. Basically, ‘commercial’ to me means ‘intended to make a profit’; and probably ‘intended for the mass market, or a wide, popular market’

With its Commercial Prize, or more strictly, its Prize for the entry with the most Commercial possibilities, the ABPC is – while not wishing to exclude startling entries at the luxury end – aiming at the mass, or wide popular, market.

In that context, what is ‘commercial’? There are many pricing models; all have the objective of letting a manufacturer work out what he has to charge for a piece in order to make a profit. For the sake of illustration, let me take a very rough model, and say that: 30% of the wholesale price goes to cover the cost of raw materials; 30% is for the cost of staff; 30% is for overheads: premises, sales and marketing, royalties, etc; and what is left, 10%, is the manufacturer’s profit. Some manufacturers work to a higher profit percentage; others have different staff and overhead cost ratios, but this is intended as a guideline

The price of the raw material, tin, fluctuates, but let us take it as £20 per kilo. An item that contained 100gms of pewter would, on the above formula, have a wholesale value of £6.60 (Materials: £2; staff £2; overheads £2, plus 60p profit).

As a very rough guide, you should expect the retail price to be double that plus 20% VAT. So on my example, the retail price would be £15.84 (£6.60 x 2 = £13.20 plus £2.40). A retailer might round that price down to £15.80, or more likely, up to £15.99!

Now, of course, the more difficult the piece is to make, the higher will be the development cost and the staff cost, and the lower the profit. And whether the item eventually does make a profit for the manufacturer will depend on whether it touches the spot with the public – and sells in sufficient quantities.

For the purposes of the Commercial Prize, we are going to set some limits:

  1. The item should be made principally of pewter;
  2. It can be made using any method of manufacture, from sheet metal, by spinning or otherwise; or by casting, whether centrifugal, gravity or drop;
  3. The pewter should conform to Standard EN611-1, with a minimum tin content of 92%;
  4. It should not require material further development costs to make it ready for production;
  5. The preferred guide weight will be no more than 250gms of pewter; with a maximum of 350  grams of pewter;
  6. The likely retail price should not exceed £100;  and
  7. The item should be likely, in the judges’ estimation, to have popular appeal – which means a sales potential of at least 200 items.

The judges will consider all entries to Pewter Live and there is no need to enter an item specifically for the ABPC Commercial Prize.

The judges’ decision will be final; and they reserve the right not to make an award if they feel there is no entry with a reasonable chance of succeeding commercially.