You'll find this to be semi-typical for jewelers across the country
as a markup above your cost.
Markup itself is important but more important is your "turn". That's
how many times in a year you sell an item. Buy it in January and sell
it buy December. The jewelry industry is typical for a turn of "1" at
You can sell it for a lower markup if you can have a higher turn.
To find your turn take last years cost of your merchandise sold and
divide it by your year end inventory level.
Actual Dollar Cost Net Markup Needed
0.00 - 50.00 3.00
50.01 - 100.00 2.50
100.01 - 500.00 2.25
500.01 - 3000.00 2.00
3000.01 - 5000.00 1.69
5000.01 and up 1.60
I have an excellent book on turn and markup, it's "How to Start &
Run a profitable Retail Business by Jim Dion. It's $19.95 plus
shipping. If you're interested, let me know and I'll send you more
info and an order form by either email or fax.