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I am creating a pair of simple white gold studs and my client wants diamonds that are over a carat large each. I am looking at prices just for the diamonds in the 5000-9000 range. How much do I mark up when dealing with such a high material cost?
So far I've checked retail value at Blue Nile and Spence Diamonds but I am not sure I should try to match their retail cost.
Thanks for any help and advice,
You should closely match the going retail cost for stones of similar size a quality, otherwise you will be undercutting your peers.
What is your client's budget for this project?
I've learned that most people have no idea about how expensive certain materials are and just rattle off a list of things they want in the piece. If they have an unlimited budget great, if not, then some adjustments to the design need to be made to meet their price. Do not undervalue your work or time in sourcing these materials either.
You may want to checkout info about diamond prices on the JCK website http://www.jckonline.com/diamond-news
Hope this helps.