Originally Posted by
savekenny
So you're saying the diamond merchant sold you something for a ~40% discount? What a bargain! And what a moron he is!
I guess you know very little about the incredible mark up on Jewelry. 40% off is NOTHING !
http://jewelrymarkup.blogspot.com/
When you think about how much you have spent on your jewelry, have you thought about how much it was really worth? The average retail markup is 100% and higher. [2] Sometimes the mark up could go up to 1000% but the standard markup on a diamond is 300%. [3] Pinkfrued-ga says that "the estimates on markups are broad and rather vague, but most of the reliable sources I've seen indicate that 300% is not an unusual markup." [4] Lets say that you bought a ring that weighed 15 grams and did the math of how much the gold cost, it would be $13,452.30. But if we add a little bit of labour for the jeweler, lets say it was $15,000.00 altogether to make the ring. If you mark it up 100% it would be close to $27,000.00. The jeweler would make an insane profit! But that was just gold! If we added a diamond to it and added a 300% markup the price would sky rocket.
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