Jewelers’ Pricing Survey

Step 6: Appraising

Lesson 4

The International Gem Society (IGS) ran a jewelers’ pricing survey in 2002 and 2012. Over those ten years, we saw significant changes in the world’s economy. As a result, these surveys are valuable for comparing prices in strong and weak economic conditions.

Major Differences Between 2002 and 2012

The two surveys posed identical questions. In our initial jewelers’ pricing survey, we found the most common markup on stones, findings, and finished jewelry was 200%, three times the cost. In 2012, the markups were noticeably smaller. However, gold prices were about four times higher in 2012 than in 2002.

Labor charges increased in most categories but not significantly. Most notably, we found jewelers used less hired help in 2012 than in 2002.

Businesses Covered in the Jewelers’ Pricing Survey

In both surveys, most respondents were located in the United States, with a few responses from Europe. We found no significant differences in their prices.

Only a couple of replies came from primarily Internet-based businesses. Although their prices ranged from the same as conventional stores to considerably less, the sample was too small to be of value.

Merchandise Markups: Jewelers’ Pricing Survey Results


Premium Article

This is a Premium Article. Please become a member to read this entire article and gain access to hundreds more like it.

Membership options

Full Article Details

Content Length 472 words
Reading time 2 min 22 sec

Here's what you get if you unlock this article:

  • Major Differences Between 2002 and 2012
  • Businesses Covered in the Jewelers' Pricing Survey
  • Merchandise Markups: Jewelers' Pricing Survey Results
    • High-End Gems
    • Medium-Priced Gems
    • Findings
    • Finished Jewelry
    • Hired Labor (Not In-House)
  • Labor Rates: Jewelers' Pricing Survey Results
    • Labor (In-House)
    • Stone Setting
    • Soldering
    • Casting Charge
    • Prong Replacement
    • Ring Sizing – Down
    • Ring Sizing – Up
    • Bead Restringing
    • Cleaning and Polishing

Plus, additional member-only benefits:

  • Exclusive access to other premium articles and courses
  • Unlimited access to our gem pricing guide
  • Participate in our member-only forums
Membership options