[Jewelry making - Article 00886] - Re: [Orchid] Setting customer stones

[David Geller]

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>     IF you are charging "setting insurance", and IF you damage a
>     $300,000 stone, you are saying that you are going to buy a $300,000
>     stone to replace it? 

    Good Point. Taking in repairs is an art and science. We would not
    guarantee EVERYTHING. No hundred dollar insurance pays for $300,000
    stone. On many occasions we would stamp the envelope "No guarantee,
    customer risk" 

    I remember once we installed an adjustable shank ($500, 15 years
    ago) on a $30,000 emerald cut diamond. Told the customer we normally
    warranty our work but can't guarantee a $30,000 stone loss for $500
    work. 

    "Do you have homeowners insurance?" 

    Because it will cover it for loss. 

    You have to be selective. 

    On the subject of SAYING the $250 is "Setting insurance", I'd never
    say that, never. 

    Most jewelers don't out enough credence into their craft. Our 6
    prong, white gold, tiffany 1 ct head & set is $262. $30 insurance is
    in the $262. The rest of the $232 is nothing more than markup on the
    head, labor to set, labor to solder. 

David Geller
www.JewelerProfit.com
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