[Jewelry making - Article 00467] - Re: [Orchid] Bench jewellers working for the trade

[Daniel Spirer]

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>     But I absolutely do not charge more the stone is worth more -
>     that's picking the customer's pocket. 

    No it's not. Let's say you take in an emerald ring job that requires
    you to remove the stone and reset it after the work is done. Are you
    going to charge the same as if it were a diamond? Of course not,
    because the risk factor is so much higher. When you have a $60,000
    stone in house the risk factor is higher, regardless of whether it's
    a diamond or an emerald. It's higher if you break it. It's higher if
    it's stolen. It raises your cost of doing business to take the stone
    in. It should absolutely cost the customer more to deal with. Look at
    your insurance policy. It should have a section in it where it covers
    for loss of customer's goods. This figure is based on an average
    daily amount of value you have in house of customer's goods. If your
    average daily amount is high they raise your premium. If it's low
    they lower your premium. If you lie to them and they can prove it
    you've got no coverage. So when you take in that $60,000 ring job
    your daily average goes up (way up in the case of a lot of jewelers).
    When your daily averages go up it costs you more for your insurance.
    What is really sticking it to the customer is charging the ones who
    have pieces of little or no value to cover the insurance on the ones
    that are worth $60,000 since you have to factor in things like
    insurance into your cost/profit analysis. None of this will probably
    change your mind John, but it does cost you more to work on more
    expensive pieces. Not charging appropriately costs both you, and
    your lower end clients money. 

Daniel R. Spirer, G.G.
Daniel R. Spirer Jewelers, LLC
1780 Massachusetts Ave.
Cambridge, MA 02140
www.spirerjewelers.com
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