$120 to ship??

[Scooba116]

I am having a ring return from a consignor. they are telling me I will have to pay the shipping which includes $33,000 insurance (not sure why since it’s otherwise insured) and signature confirmation. Overnight is $150 and 2 day is $122. This is within the continental US.

Does that sound right? I’ve never paid more than $35 to ship a ring.

 

[Karl_K]

It does not sound that far off for shipping and insurance through the shipper.
Many places cover the insurance with their private policies which lowers the shipping costs a lot.
Many homeowner type policies will not cover shipping loses in this situation.

edit: with fedex anyway the costs of insuring and shipping through them have gone way up.
The website quoted 600+ on a overnight and 33000 insurance NY to Chicago.

 

[oldcutclubmember]

It sounds about right given the insured value.

Also, I would read the fine print on the consignment agreement that you likely signed when you sent the ring in for consignment. The shipping details are probably outlined therein in the event that the item doesn’t sell and needs to be returned back to the consignee.

 

[uyalison]

a reference point: https://www.jewelsbygrace.com/ charged me 140 usd for shipping from US to Canada via fedex (insurance coverage is 7000 usd).

 

[Daisys and Diamonds]

Good lord

Can you go pick it up ?
Insurance companies of all kinds seem to have us over a barrel these days

 

[Wink]

I cannot speak to the cost via "normal" FedEx, as I and many jewelers use secondary insurance and shipping companies that ship tens of thousands of packages per day.

They get incredible discounts from the shippers and allow us to save mightily. One time my local FedEx rep came to my office to try to get me to ship through FedEx directly. I gave him a copy of my recent shipping and billings. He is a friend and a client as well and was sure he could best anyone as to pricing as a favor to me.

He came back and told me to stay where I was, he personally could not ship anywhere near the price I was paying.