How much are jewlers overpriced?

[jmiller676]

Does anyone know how much Jewlers add to the item to begin with. I figure they price stuff %20 over of what it is and then give you a %30 discount? Just wondering if we really know how much we get hosed on those so called "deals".

 

[E5RANGER375]

theres probly a 200% markup in jewelry

 

[target64]

I always "thought" the mark-up was around 300-400 percent. But after doing some reading today I see it can skyrocket to 1000%.

 

[spec4]

I believe they use a term called "keystone" which I think means they take their cost and triple it. That then becomes their list price. Perhaps others can chime in.

 

[Indy_Guy_77]

IT all depends on the jeweler and then it all depends on the product.

Typically, the more it costs them, the less markup there is.

There's not much markup on actual gold these days, but there certainly is in the stones they put in them.

-J-

 

[$mooth]

If you can, take a look at places like Costco for stones. Everything I've bought from there has appraised for 1.4x to 2x what I paid. Even if you don't like their settings, you can buy loose diamonds from their web page and have it mounted elsewhere.

 

[kenjb]

Example: I once bought a 60', 11mm pearl necklace with an employee discount and paid $82. List price was $250.

 

[04DarkShadowGT]

Example: I once bought a 60', 11mm pearl necklace with an employee discount and paid $82. List price was $250.

That is one really long necklace.

 

[jmiller676]

That is one really long necklace.

+1 LOL

 

[PistolBob]

I used to own a jewelry store in the late 70's. My markup on most items was 300%, and 500% on some of the smaller pieces. I think this is/was typical depending on the materials used in the piece.

 

[jeremy]

That is one really long necklace.

Huh...

Something that we agree on. All hope is not lost...

 

[jmiller676]

So would you guys go in and play hardball from the begining? Just call them out so you can cut through the BS? Make them make a first offer and come down some and when they give you that "affordable" discount grill 'em? On any kind of jewlery really not just rings. Kinda like buying a car?

 

[jeremy]

So would you guys go in and play hardball from the begining? Just call them out so you can cut through the BS? Make them make a first offer and come down some and when they give you that "affordable" discount grill 'em? On any kind of jewlery really not just rings. Kinda like buying a car?

Uhhhh....

Never had to play that game with a Jeweler. My Wife's engagement ring was made by a Miester Smith in Idar-Obarstien.

 

[Knife Lady]

I guess you can always try to deal with them. I would think Pistol Bob is the one to ask for sure since he used to own a Jewelry Store and was very honest on the mark up percentage. Good luck.

 

[E5RANGER375]

I let other people take the markup hit. on about everything i buy, unless i really want it now, and then i can still justify it from all the other money I saved buying used.

 

[irishfan]

I just don't buy jewelry which saves me the money of the jewelry and possibly a lawyer in the future

In all seriousness, it sounds trashy but a GOOD pawn shop would probably be the best place to look for a piece of jewlry and compare it to a new price at a jewelry store. Also, location changes things a LOT. I remember when I was younger and dumber I looked at a necklace for a girlfriend at a jewerly store in Circle Center Mall and it was $200 more there then in the same chain store 5 miles away.

 

[E5RANGER375]

I just don't buy jewelry which saves me the money of the jewelry and possibly a lawyer in the future

In all seriousness, it sounds trashy but a GOOD pawn shop would probably be the best place to look for a piece of jewlry and compare it to a new price at a jewelry store. Also, location changes things a LOT. I remember when I was younger and dumber I looked at a necklace for a girlfriend at a jewerly store in Circle Center Mall and it was $200 more there then in the same chain store 5 miles away.

nope not trashy at all. polished up properly you cant even tell its used. I have a smart wife, unless its some piece of jewelry thats exclusive that cant be bought anywhere but new, she will go to the pawn shops herself and just tell me what she wants me to buy her. its a win win for me. more money in the pocket and also no guessing on what she wants . and she gets a bigger rock and chunk of gold because i can invest all of the money I was gonna spend on full retail into used, and you are usualy just paying for the gold. they buy VERY, VERY, VERY, low at the pawn shops, so its good for them and the buyers. not so good for the pawnee's

 

[Indy_Guy_77]

I just don't buy jewelry which saves me the money of the jewelry and possibly a lawyer in the future

In all seriousness, it sounds trashy but a GOOD pawn shop would probably be the best place to look for a piece of jewlry and compare it to a new price at a jewelry store. Also, location changes things a LOT. I remember when I was younger and dumber I looked at a necklace for a girlfriend at a jewerly store in Circle Center Mall and it was $200 more there then in the same chain store 5 miles away.

One caveat with pawn shops: You really never know what you're going to get unless the stone's certification paperwork is with the stone. And then you've got to determine that the stone in the piece is the stone described on the paperwork - this is only possible if there's laser etching on the girdle. And you need some right decent magnification to be able to read that etched number.

You can also hit up coin shops / gold buying places for stones, too, if you're not picky.

Seriously, though, getting genuine stones this way is difficult to do for the layperson. It's not even easy for a trained / experienced jeweler or gemologist to be able to differentiate between a fake vs. real or natural vs. created.

If you don't want diamonds due to the price, then look at the colored stones. They're actually more rare, but will cost less due to demand (and there's not as much of a ruby or emerald cartel as there is with diamonds and the DeBeers company/family)

 

[E5RANGER375]

One caveat with pawn shops: You really never know what you're going to get unless the stone's certification paperwork is with the stone. And then you've got to determine that the stone in the piece is the stone described on the paperwork - this is only possible if there's laser etching on the girdle. And you need some right decent magnification to be able to read that etched number.

You can also hit up coin shops / gold buying places for stones, too, if you're not picky.

Seriously, though, getting genuine stones this way is difficult to do for the layperson. It's not even easy for a trained / experienced jeweler or gemologist to be able to differentiate between a fake vs. real or natural vs. created.

If you don't want diamonds due to the price, then look at the colored stones. They're actually more rare, but will cost less due to demand (and there's not as much of a ruby or emerald cartel as there is with diamonds and the DeBeers company/family)

nope. i want the real thing. it better have been dug out by some teenager with an AK to his head or its not good enough for me

 

[Cru]

I negotiate price EVERYWHERE. It’s part of the game. Jewelry stores are no exception.

My dad found that out over Christmas when he was buying something for my mom. He thought he was getting a good deal, then I came in and helped. He got a better one.