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Pricing Gold in Today's Market


#1

Out of curiosity, for those of you selling standard items like Gold
Chains; what kind of markup over cost is typical these days? I only
ask because most of my sales are Silver, however, I occasionally get
a customer wanting Gold. Just trying to see if I have been
under-valuing my products based on what the average markup is.

Silverfoot


#2

I’ll second this, as a person who mainly works with silver I really
have to guess at things when I price any work I do in gold (have
worked with gold from 9ct to 18ct in most colours, although the
mentioning of blue and purple gold has me intrigued), so far I have
been, for custom non-cast work, been pricing things by the formula
cost of materials plus X% of those costs.

Now I’m starting to get a lot of these kinds of jobs because I’m
hearing that no other local jeweller is so “reasonably” priced! So
I’m starting to think I’m undercutting the market, not something I
really want to do, I don’t mind being cheaper than my competition,
but I don’t want to cut them off at the knees either, if that makes
any sense.

Cheers, Thomas.
Janstrom Designs.