[Jewelry making - Article 00836] - Re: [Orchid] Setting customer stones

[Stephen Walker]

========[ Invite a Friend - http://www.ganoksin.com/invite.htm  ]========

    Thanks very much for the feedback from those of you who took the
    time to answer. This situation comes up more and more in my business
    so getting my act together about it is taking on greater urgency. 

    I can usually meet an online discount diamond price if I am willing
    to take a fairly small markup. As I see it, I would rather have
    several hundred dollars in profit on the stone than no profit and be
    left hanging if I damage the stone or something else goes wrong. In
    the case that inspired this thread the customer wanted a 3/4 carat
    round diamond. I priced the ring at $1800 plus the stone. He found a
    much better price at a discounter, which I then offered to meet. All
    was fine and good until I suggested that a 0.90 carat cushion cut I
    had available would be better in the design. I offered him that stone
    and he found a certified stone with very nearly the same specs for
    less than my cost. The total value of the project went up, but my
    gain actually went down. Oh well! 

    I think it is important not to cast any aspersions on other vendors
    or other jewelers, such as insinuating that mark-ups are too high or
    that dishonesty is rampant in the jewelry industry. The folklore of
    the alleged ?switched stones? probably comes from jealous jewelers
    slandering their rivals more than any actual practice. These stories
    make us all suspect. But that is all another story. 

    The deal has already been made to set this stone for $100 in my
    design without getting into any specific statements about liability
    or warranty. This is very sloppy business on my part and I ask for
    the sage advice of more experienced Orchadians so that in the future
    I can handle this better. Thanks again for your suggestions. 

Stephen Walker
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