Hi all
I could use some advice. How do you figure the retail cost of a
expensive gem - I mean greater than CND$20,000? I have been using 2
to 2.5 times wholesale cost for small stones, but now have a request
for a much more expensive one and am not sure what is fair and
customary. Thanks!
Leslie Chapman
Fortymile Gold
Leslie,
Fair? Customary? I’m not sure what those two terms mean. When selling high quality, high priced gems, Two questions “who are my competitors and what do they markup.” In this case; Tiffany, Cartier, Graff? and how low or high am I on the totem pole.
A couple of years ago I sold a 20+ gem. It was truly one of a kind. I bought it from a client, sold it to a dealer who sold it to a wholesale fine jeweler who consigned it to a retailer who sold it to a client. Markup brought if from the low six to the low seven figures.