Ed Huntress wrote:
"Ecnerwal" wrote in message
...
In article ,
"Ed Huntress" wrote:
Which reminds me, there are a lot of jewelry shops buying gold. If there
isn't some reason they can't do this, I would think that they'd sell you
a
piece fairly cheap. They aren't paying the commodity exchange rates, I
can
tell you.
...but the whole point is to buy cheap and sell dear, thus making money
at it.

Right. But they're buying from individual sellers at less than commodity
prices, and no doubt they're selling it at something at least slightly lower
than commodity prices, so they could charge a lot less than the retail price
for jewelry gold, which appears to be the commodity price plus a substantial
markup.

There's probably plenty of slack for them to make some money without
charging an arm and a leg.


I don't remember the name off hand but there was a jeweler that always
advertised as being ones who charged you by the actual weight of the
gold plus IIRC $50.00.

As for profit, in the words of Randy Savage "OOHH YEAHHHHH"
Most finished jewelery has a HUGE mark-up for profit. Most places you
hit are in the range of 300-400% of the wholesale cost of the finished
item, which itself is usually 200 percent of the price of the materials
and time used in creation. Some of the really "exclusive" places are
even worse. Plus there are some big regional differences as well.
The wedding band I wear is a simple diamond etched 14K item.

Distributor price on it was around 80 bucks when it was purchased.
Retail in this area would have been closer to $200.00.

--
Steve W.