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David Geller's pricing guide


#1

I recently ordered David Geller’s jewelry repair pricing guide and
am finding that many of his prices are much higher than what we’ve
been charging. Needless to say, I’m more than a little nervous about
making such, in many cases, drastic changes. I’d appreciate some input
from those of you who have used his book. Thanks in advance. Rick


#2

Rick, Best move I’ve ever made in my 23 years of bench repair! I’ve
been using David’s book for 3 years. My profits have been
substantial. I was tired of working 60+ hrs a week with nothing to
show for it! The benefits of using the book include:

-It saves time in calculating repair costs.
-I keeps your repair pricing consistent for each customer
-It takes into consideration the actual cost for materials and labor, while
  making you a PROFIT.
-Stops you from "backing down" on prices when customers are present....(I

used to ‘wimp-out’ regularly)
-It lends credibilty to your pricing…it’s in the book, not out of your
head or ‘off the cuff’.
-It looks ‘official’, thereby lending credence to your repair estimates.

There are other benefits to using it, but, as you can see, I’m
passionate about it and won’t overdo the response.

Just let me say, in closing, that I too was skeptical that my
customers wouldn’t pay it. THEY WILL! I’m in a town of 15,000. I
use the price book at the counter for every customer that comes in.
I’ve heard David say many times…“Repairs are trust sensitive, NOT
price sensitive.” They bring their repairs to you because they trust
you, or if they are new customers, because they think they can trust
you or someone told them they could trust you. If you do good,
quality repair work in a timely manner and do the things that will
win your customer’s trust, you can make a good profit at your bench
and you’ll have a customer for life! That’s my sermonette for the
day!

Just do it! You’ll be glad you did…You just have to believe you
are worth it. You are. They WILL pay it. Bob Staley B.Staley,
Goldsmiths Precision Laser Welding @B_Staley_Goldsmiths


#3

Dear Rick, We have been using Mr. Geller’s book for about two years
now, and I understand your concerns. I found that there is some
price resistance, or “sticker shock”, but the majority of the
problem comes from the employees who use the book rather than the
customers. Most customers who walk through your door have no idea
what the price will be for a repair, and are very comfortable when a
professional looking book is opened, and a price quoted from the
appropriate list. I don’t believe we have had more that a handful of
people walk out without leaving their item, and the reason they do
has to do with the cost-to-value basis rather than “gee, your prices
are too high”.

My main problem was that the sales people feel “guilty” charging
some of the book prices, and usually involving stone setting charges,
or remembering to include all the “add-on” charges, such as adding
for stone removal as well as stone setting. They have no concept of
the time involved, nor the hidden costs we have to absorb if a melee
is lost or damaged while performing the work. Mr. Geller’s book
takes all of those issues into account, and makes sure you are
working at a profit rather than hoping you can make up for the
problems on the next job.

If you would like more email me off-list and I will be
happy to make more suggestions.

JMF


#4

Rick We are mainly a trade shop but still have made use of David’s
guide for the past three years. We cut his prices by 2/3 rds and use
that as a guide for trade jobs. For the few retail jobs we discount
1/3 rd. on the most common jobs and no discount on others. You have
to find what works best for your market and be consistent. We have
never had any problem with those rates. From having been a member of
both Polygon.net and jewelrydealersnetwork.com for the past 5 and 2
years respectively and very involved in the discussion forums on
both I have observed that most are like you in that they find the
charges much higher than what they are used to. Many have come back
after a year and reported that The Guide has been a God send and
turned their repair business around. That customers for the most
part never noticed the increase in prices but those who are return
customers liked the consistency in charges. How often have your
sales people quoted a charge on a job, have the customer say they
would return and 3 months later come in and be quoted another
figure. Then they contradict you by saying well you told me such &
such last time I was in. With a copy of David’s guide on the back
counter and at the bench, you will be consistent in price quotes.
Even if you adjust the prices like we have to suit the market, the
extensive pricing of just about anything you can imagine is worth
the cost. What I like most about it is the use of Stullers
extensive findings inventory and pricing worked into the costs.

Jim Mannella
www.enamelart.com & www.uniqueandprecious.com


#5
Needless to say, I'm more than a little nervous about making such,
in many cases, drastic changes. I'd appreciate some input from
those of you who have used his book. 

I started using his guide about a year and a half ago. It’s been a
big help. In most cases I have retained my clients and improved my
priofits. Any client that won’t support his prices, I don’t need. You
can have 'em.

For some peculiar reason, I seem to be carrying some kind of imp in
my head that just loves to tell me that I don’t deserve to get
"overpaid" for my work. The thing is, I just need to not think about
it. Mr. Geller has gone to great time and expense to learn what it
costs to do business in the USofA. His prices reflect an honest
picture of what it costs to do jewelery business in the free
enterprises system. If you are not charging these prices or something
relatively close, I suggest that you seek employment as, …say a
shoemaker or and auto mechanic. In any case, get out of the jewelry
business, because you will be unable to pay your bills otherwise.

You should alsolisten to the tapes.
Bruce Holmgrain
JACMBJ


#6

Geller’s book is terrific and I would recommend it without
hesitation. David provides an innovative and invaluable way of
looking at bench work, and sets up an entire pricing program that is
guaranteed to make money. It is a little like going on a diet. If
you stick with it, it works. This sounds like a tall order and yet,
the book delivers. If nothing else, you will never again brush off
those “inconsequential” jobs like soldering a chain, that are hardly
worth charging for. It will probably change how you view the value
of your work in the future.

Alan
Revere Academy of Jewelry Arts
760 Market Street
Suite 900
San Francisco, CA 94102
tel: 415-391-4179
fax: 415-391-7570


email: alan@revereacademy.com


#7
Needless to say, I'm more than a little nervous about making such,
in many cases, drastic changes. I'd appreciate some input from
those of you who have used his book. 

I started using his guide about a year and a half ago. It’s been a
big help. In most cases I have retained my clients and improved my
priofits. Any client that won’t support his prices, I don’t need.
You can have 'em.

For some peculiar reason, I seem to be carrying some kind of imp in
my head that just loves to tell me that I don’t deserve to get
"overpaid" for my work. The thing is, I just need to not think about
it. Mr. Geller has gone to great time and expense to learn what it
costs to do business in the USofA. His prices reflect an honest
picture of what it costs to do jewelery business in the free
enterprises system. If you are not charging these prices or
something relatively close, I suggest that you seek employment as,
…say a shoemaker or and auto mechanic. In any case, get out of the
jewelry business, because you will be unable to pay your bills
otherwise.

You should alsolisten to the tapes. Bruce Holmgrain JACMBJ