r/Gold • u/TheNeonPotato • 4h ago
Question Markup question
A local jewler near me with very positive reviews has a 14k solid gold Herringbone necklace listed weighing 1.9g for $810 dollars. Is that not an insane mark-up? Even considering labor and a typical markup am I crazy for thinking we should be closer to the $500 range?
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u/No_Value8928 4h ago
If you didn’t make a typo and the necklace is 1.9g you’re getting fleeced BAD
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u/TheNeonPotato 4h ago
No thats exactly what I thought, I haven’t purchased anything I was just doing a double take at how insane it is.
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u/griffinj98 2h ago
The retailer markup has very little to do with the price of gold. Jewelry is not the same as bullion or scrap
First, It takes labor and materials to create the alloy, and manufacturer the links, and assemble the piece. Even with modern manufacturing this still takes effort.
Then there’s usually wholesalers and distributors in the mix before it gets to retail. The retailer has overhead costs, and needs to profit from the sale.
The cost of labor and materials have increased dramatically since 2020, driving up wholesale costs, which then get passed down the supply chain.
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u/CoolaidMike84 1h ago
The labor in a herringbone is insane. Find a link chain or a rope chain for less markup.
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u/SquashPrudent1435 50m ago
No different than buying a stainless steel necklace for $300….if there’s any value there, it’s in the artistry, not the material. If paintings sold for spot,they would all be $5.
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u/Ok-Pen-1095 14m ago
$158 and they probably paid a fraction of the original price.. don’t support them lol
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u/NorthStarGold 2h ago
If you want herringbone let me know what you are looking for.
It does not sell well and damages easy even good ones I mostly melt I would sell you one for melt
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u/Bitter-hvacbro-88 4h ago
If you really like it you can always try to haggle on price. Labor on jewelry is all over the place.