I was speaking to a fantastic diamond setter and he told me some disheartening news. I asked him how much is the regular setting price for Pave’ setting of diamonds. Pave’ in my estimation and is Bright-Cutting with using an Onglete #1 (rough-cutting) and then followed with the #2 graver, then still afterwards using a Flat graver #40.
For all of his work he only gets…are you ready for this? Only $4.00 a stone, he knows even more (setters) who will charge $3.50. I asked him what about office rent, telephone costs travelling time, tools. He and I openly discussed that even at this rate, the best setter is losing money. I said even if a setter who works at home still has to pay for living expenses. We both agreed that the average rate should be at least 10.00 - !2.00 per stone, but no wholesaler will ever pay this amount.
BTW, the 4-claw setting is now about $2.50 per stone…and this is not anyway near covering the increasing costs of burs and other miscellaneous tools. So sad to hear this!
***Gerry Lewy ***