Traditionally, the markup was "keystone" (100%) to "triple key" (300%) e.g. if an item costs the jeweler $1000, they would sell it anywhere from $2000 - $3000. Of course this is negotiable (as a jeweler can charge whatever he thinks is reasonable), and has now changed due to pricing pressures from Internet Vendors, especially with loose diamonds. The margins for those are really low now.
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