Ever wondered why solid gold jewellery comes with a particular price tag?
Not only is gold jewellery among the most pricey, there also seems to be a huge range when it comes to price of gold. Why is that?
Let me break it down for you - as someone that has been in the jewellery industry for almost a decade.
1. The first and most obvious cost is the precious metals used. Jewellers pay by the gram for every bit of gold, silver, platinum etc. they use. The more pure the metal, the more expensive each gram is. You can see the current price of precious metals fluctuating here.
2. Next, jewellers must pay for various services rendered by different specialists throughout the production process. Professionals involved like artists, 3D designers, polishers and diamond setters are all paid for their time and their work.
3. Now that the piece of fine jewellery is complete, other costs are taken into account. The jeweller must be able to afford equipment, packaging, store space, staff etc.
4. Once all these factors are included, the jeweller has reached the overall cost of the piece. Anything added on top will become profit. They can't add too much on top however - the jewellery market has a rough idea of the value of goods thanks to public metal prices and average market price for similar jewellery.
As you can see, there are a lot of factors that make up the prices of solid gold jewellery (and fine jewellery in general). To check out some of the fine jewellery we have on offer for fair prices, click here.
PS: We have an outstanding deal every week on a solid gold ring... sign up below to get access.
