price

[dustin]

Does anyone know a good rule of thumb for the percentage markup that a jeweler adds to a diamond?

 

[pricescope]

Hi Dustin,For internet prices markup can be from 5% to 15% depending on the vendor and the stone price.Markups in brick-and-mortar jewelry stores normally higher 25-50-100%.Internet brokers often list the same stones from the trading networks that's why you can see same stone at different prices listed on different vendor sites.

 

[StevL]

Dustin,
Also remember that the brick and mortar store may also offer services you can't get on the net. In some cases you could spend a few hundred dollars more, but receive that much in benifits. You need to spend a little time to educate youself, and shopping.------------------

 

[pricescope]

I agree with SteveL. Another benefit of traditional jeweler is that you can see and compare diamonds alive, not only by paper numbers

 

[Spanky]

I agree with StevL's post. The service you get from a bricks n' mortar jewler will (at least in my case) make up for any mark up. I got a better deal on a setting from the jewler I bought from as well as service after the deal (cleanings, fittings and closer attention to customer service). I did shop on line jewlers for loose stones, but I found the process cumbersome (this is way before pricescope.com made comparison shopping easy) to compare stones. My bricks n' mortar jewler spent a great deal of time with me explaining what I was looking at and helped me decide what I was looking for. Your not buying a car; direct comparisons are not always available.This is not to say that there aren't nefarious characters out there. If you feel pressured or are told there are 'a lot of people looking at this stone', take a walk. You'll be amazed at how a vendor's attitude changes when you indicate that you will walk.

 

[Iiro]

Sure it is a trap.
Sibelius

 

[Iiro]

Ok
if a vendor puts 100% markup and then gives 50% discount he earns nothing.
Thanks
Sibelius

 

[lawmax]

StevL,Spanky and I like to talk about diamonds and airplanes!

lawmax

 

[pricescope]

Sibelius, I've read many times that consumers should avoid any diamond/jewelry sales with 50% reduction signs. It's a trap. Either initial price was too high, either the vendor always has this sign just to attract the curious buyers.Obviously nobody sells without a profit unless one goes broke.

 

[pricescope]

Hi Sibelius,From the Webster:
mark·up An amount added to a cost price in calculating a selling price, especially an amount that takes into account overhead and profit.
So if the stone wholesale price (cost) is $10,000 and dealer sells it for $11,000 he added 10% to a cost price i.e. 10% markup.

 

[Iiro]

How do you calculate markup?cost to vedor= $100Selling price =$150Difference in price= $50 =markupIs this 50% markup or is this 33% markup?Here in Finland we say our markup is 33%.Sibelius

 

[StevL]

Spanky,
You and Lawmax live in the same city! Cool, you could talk diamonds together.------------------