Setting prices...and extra costs

[mpb2000]

I was looking at a setting the other day, nothing fancy, about $400, 18K white gold. This seemed fine, but the jeweler wanted $300 for platinum prongs and another $150 or $200 to set one of their own stones in the ring. The price of the actual setting, and the diamond, were pretty reasonable, but the extra $500 for platinum prongs/setting the stone seems high. Am I wrong? What do jewelers normally charge for setting the stone if you buy the setting and stone from them?

 

[MustangFan]

$200 for setting a side stone??? that sounds ridiculous to me.

It all depends if they need to make a custom head for your ring or not. Mine needed a 4ct prong head to fit the sapphire in it. They were able to use a manufactured one, so it doesn''t expensive at all.

 

[luvthatstone]

Nope, you're right on.

Sounds excessive for just prongs. But the real kicker is the setting fee. Not only is it unusually high (I've seen anywhere from $25-$50 depending on the vendor). But that's the first time I've ever heard of a vendor charging a setting fee to set one of their own stones in their own setting!

Usually, if you buy the stone/setting from the same vendor - there is no setting fee.

If you love the stone and the setting, then I'd certainly negotiate with them and try to get them to drop the setting fee altogether. Otherwise, I'd take my business elsewhere if I were you.

 

[denverappraiser]

Platinum parts are pretty expensive but it depends entirely on the prong arrangement and size you’ve selected. $300 to replace a crown with plat doesn’t surprise me at all if this is a significant size stone. $200 setting fee for a stone that they sold is a on the steep side but this too will depend on the details of the job and even the details of the sale (sometimes stores will include setting fees or subsidized setting fees ‘free’ as part of the cost of stones while others do each step as it’s own individual sale). If this is a large, fancy shaped stone that will require mounting modifications to make work, this is very reasonable, even cheap. If it’s prong setting a quarter carat round stud earring it’s out of line. Ask them for an explanation. Bear in mind that the best craftsmen are rarely the cheapest.

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

 

[Cehrabehra]

I think they''re charging me $100 to set my stone which I bought elsewhere.... at shane co when I talked to them it was going to be I think 400 bucks.... they charge per carat so for a half carat or whatever it wasn''t much but it went up and up and up!!

 

[oldminer]

With the profitability of diamonds going down for retailers, the price of their labor is going to increase in order to bring in enough cash flow to cover their costs and to still make a living.
Anything you can't buy over the Internet may become a profit center because that's what's left for jewelers to make a profit on.

Those who shop around will find much better prices than those who impulsively say "Okay" You'll find no fixed prices on mountings and setting work like you have found with diamonds. You can't tell excellent workmanship from shoddy workmanship on a virtual ring mounting that is being offered for sale. The price asked may not indicate the true quality or value.

I have seen mountings made for people by Internet vendors at very fair prices and for what I'd call high prices, but I have seen very few that were badly made regardless of the price paid.

When you bring a retailer a diamond you bought elsewhere they will mostly ask a higher price for any setting work. Some won't do the work and some will charge a regular price, too. Maybe part of this is how the customer acts and speaks. No one wants to take in work and have a problem with a diamond or a customer. Everyone is a little afraid of everyone else.

 

[strmrdr]

I think the prices are in the smoken dope range.
especially on a diamond you bought there.