[Jewelry making - Article 00415] - Re: [Orchid] Bench jewellers working for the trade

[James & Sonya Cantrell]

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Phil,

    Stand firm to your guns and don't discount the repair prices. The
    fact that a ring may have cost $59 at a discount house doesn't mean
    we should reduce our prices to repair it when it falls apart, and it
    will fall apart. The cheap jewelry is always harder to work on
    because it's thinner, suffers from micro-porosity, poor stone
    setting, etc... The way to explain it to your retail customers is
    your prices are based on overhead. Your overhead remains the same
    whether it's a cheap piece or a quality piece. Time is money. Twenty
    minutes repairing jewelry is twenty minutes of overhead whether it's
    cheap or quality, it's still twenty minutes you need to charge for.
    Charging less means you get less pay in your check. The rent,
    utilities, insurance, gold stock, etc.. still get paid regardless
    whether you discount or not. That means you're shorting yourself. As
    far as setting the $60,000 diamond, you charge for the additional
    risk you are incurring. The fact it goes quickly is chalked up to
    you skill, which you are charging for. 

James S. Cantrell CMBJ
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