hello all,
In the new year I am starting the process of re-pricing all of my made-to-order gold jewelry offerings to reflect the soaring gold prices. I have some older pieces that haven’t been adjusted for several years.
This process has me looking at all the facets of my pricing structure. I generally use a keystone formula, but I am curious what other jeweler’s approaches are to diamonds. I cannot, obviously, include them in the traditional keystone markup or the prices could get astronomical, but I want to make some money off of their inclusion. I have thus far been calculating a keystone price for the piece, and then adding the price of the stone, and a fee on top of that. I consider it a “handling fee” of sorts because it is stressful and expensive to order, possess, and set high value stones. The fee I assess varies, honestly based on my clients budget, but is usually around $500.
How do y’all approach pricing for pieces with diamonds? Thanks in advance for any interest in discussing this topic.