Deposit during setting: How Much?

[piripiri]

Hi,
How much deposit is normally given when buying an engagement ring?
10% ? 20% ?

 

[denverappraiser]

It’s going to vary with the jeweler and the services you’re asking for. Making a custom design with lots of expensive materials and labor is going to be a different task from setting a diamond you bought elsewhere into a simple solitaire ring. Back when I was retailing we charged 100% up front for most jobs. For some jobs, they won’t require any deposit because they’ve got your diamond as security. Ask the jeweler doing the setting work.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[piripiri]

This is a standard setting. Nothing custom.
Would 10% be reasonable?

 

[denverappraiser]

Seems cheap to me but it’s up to the person doing the work to set their own prices and policies.

I'm curious. Why is it important? Presumably they'll do the job fairly quickly since it's easy work and they won't release the finished product until you pay so it's not like there's a savings to be had here. Is there more to this store that causes you to ask?

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[piripiri]

Caveat emptor.
That''s the only reason. The store is actually very reputable.
Thanks for your help, Denver.

 

[D&T]

it really depends, I''ve worked with a few B&M stores, and some online vendors ranges really for me, and if you were existing customers and what not. Some places require 20% down, others private firms maybe less if they have your diamond. In short...depends

lots of variables.