That’s a great explanation, thanks for the insight. The Jeweller that I want to go with because I like his quality the most from his previous work has quoted me $3500. I just didn’t want to choose someone that wasn’t charging my fairly. But your explanation helps a lot, thank you!
Something I like to do when I evaluate the price of any piece or quote set in front of me is to first go through samples of the jeweler’s work and see if I’m happy with the quality, independent of price. Next, I ask myself, is $XXX a price I’m happy to pay for this design or piece (independent of other quotes, not in comparison)? I also then break down the quote into material cost and labour cost. I always ask a jeweler to include the approx quantity of metal and caratage of melee in the quote, and then I use spot price of metal plus general melee cost to tease out an estimate of labour cost. Then I ask myself, am I happy to pay $xxx for this level of quality? If I’m not, then I have two options - go with someone else or go with a different, cheaper design to bring overall cost of the project down.So I have had a really varied response in terms of prices. I’m after a good quality hand made ring but the prices I have received have been (AUD) $2300, $2800, $3200, 2 x $3500, $3900 and $4200. I’m not sure how the prices can vary so much when they have all quoted on the exact same ring design. The quote is for a hand made platinum 2.1mm pave cathedral style 6 claws
with 18 melee diamonds.
I don’t want a poor quality ring but I also don’t think it’s necessary to pay almost double. Can anyone please offer some advice on approx how much a ring like this should cost?
Different jewelers specialise in different things. If you want something intricate, you probably will need to resign yourself to paying a premium (and only you will know if the premium is worth it!) if you want something simple, perhaps a stock setting or a cast setting is what you need. That’s a question only you can answer.
I will say though - you pretty much get what you pay for, with the caveat that you’re diligent and have done your homework to be able to say with reasonable certainty that the jeweler can put the money where their mouth is. You’ll pay more trying to “fix” your ring if you try and force yourself to compromise more than you’re willing to, so the necessary first step (in my opinion anyway) is to go through each jeweler’s work (independent of the quote) and narrow down which jewelers can provide the quality you’re looking for. Then break down the quotes the way I suggested.