There is no standard in the industry for markups on diamonds. You
need to consider a range of factors like: How much do I need to make
on the stone? How recognized is my name and work in general (better
known jewelers can usually get more money for their goods)? What are
my other cost factors…did I have to buy and stock the stone or did I
get it on memo, do I have a retail storefront or am I working out of
my home? In today’s retail world some jewelers will be happy to make
a few hundred dollars on a stone like you are describing if they can
turn it fast. Others need to get keystone or something close to that.
When appraising goods in this range I usually figure the markup to be
about 25%-35% as that is about the average in our area, but I am in a
large urban area where there is a lot of competition. This markup
range is based on a fair to good cut, certainly not for an ideal cut.
Daniel R. Spirer, G.G.
Spirer Somes Jewelers
1794 Massachusetts Ave
Cambridge, MA 02140