Correct fee/commission to pay jeweler to set stones?

[californiamom]

We want to pay a fair price to a jeweler who is finding some specific diamonds for us and setting them for us in a ring with a simple setting (She is not designing the ring). We walked into her store and told her what we were looking for (exactly the kind of diamonds, etc.) so most of the work would be outside of the time we were there...

We have jewelers telling us they want 2% up to 10% ( above their price - the price they pay ) to get and set the diamonds. This results in the price I would have to pay.

We want to be fair to her - after all, she is working hard; however, there is a huge difference in the fee we would have to pay because the piece is costly. She is going to tell us in the near future what her fee is. We want to be prepared. What is considered "reasonable" by the jewelry trade today? We realize that we could order something through an e store etc. and pay no tax, but we would like to support the local person if possible.

Thank you for your help.

 

[Brian Knox]

Hi,

Good question, tough question.

I guess the answer is a price that is fair to both of you.

A B&M jeweler of course has higher costs and probably (but not necessarily) higher prices.

You in turn, have to be happy with the overall value of the merchandise and the amount and quality of the face to face service you recieve.

A B&M does offer unique advantages over internet shopping for many people with the obvious exception of price.

But then if it was only about price, we would all be driving Yugos

 

[oldminer]

Most important to you. Who will accept responsibility for any damage that may occur to the diamond during the setting process? If the jeweler is responsible, they need a fairly large profit, or fee, in order to make that proposal. If you are willing to trust they will do their best and take the responsibility on yourselves, then the fee ought to be a minor one.

I have met very few consumers who understand or who could afford to accept the risks associated with setting a diamond into a ring. (This is especially true with princess cuts as the pointed corners do tend to be fragile.)

If a person has a store and is giving you a complete package of services and is responsible for any damage, the thought they could do this and make anything at 10% is almost ludicrous. Some might agree to do it for this or less simply to keep you as a future customer, but they will lose money at 10%. A person working out of their home, who accepts no responsibility for damage, might agree to a tiny fee, but this leaves you in a very different situation.

It is strictly your choice, but make it by being fully informed. It is not a gamble like going to play craps in Las Vegas.

 

[Rank Amateur]

The last stone I bought was set for free. If you give them their $$ for sourcing the stones, they'll set it for "free" as well. You are spending $30,000+, why worry about a setting fee?

From whom are you buying the diamonds? How will you know what the jeweler's cost is? I presume that you'll get a number for the total cost and then negotiate from there.

 

[californiamom]

Thank you for your responses! Have a great day.