Connect with us

David Geller

Afraid to Raise Jewelry Repair Prices? Here’s Why You Shouldn’t Be

Because repairs are trust sensitive, clients will pay for reliability.




IN ONE WEEK recently, I had a conversation with two jewelers about increasing their repair prices, and both were skittish to do so. Neither jeweler had raised their repair prices in many years!

One was a jewelry store who uses a consultant who told them they’d run customers off if they raised their prices too much too soon. This is crazy.

Las Vegas Jewelry Trends: Pearls Become the Jewels of the Moment
Photo Gallery

Las Vegas Jewelry Trends: Pearls Become the Jewels of the Moment

Las Vegas Jewelry Trends: Talismans Create a Powerful Message
Photo Gallery

Las Vegas Jewelry Trends: Talismans Create a Powerful Message

Las Vegas Jewelry Trends: Fringe and Mesh Sway With Tactile Movement
Photo Gallery

Las Vegas Jewelry Trends: Fringe and Mesh Sway With Tactile Movement

Then I heard from a jeweler who also does trade work for other stores and he wrote me:

“The issue that we are working with is the steep increase in the prices we would have to charge to be in line with the Geller book. Do you have any suggestions for raising prices without having our customers suffer too much sticker shock? Any help you could give would be greatly appreciated.”

I keep hearing this crazy crap all the time. Why do people think customers will drop dead if you quote $100?? Hey folks, we are not talking about buying a weekly staple like that is price sensitive like food, gasoline, or phone or internet service.

The consultant told the first store, “You’d run customers away if you raised your repair prices all at once.” (This made me so mad I could see stars!) The consultant told the store to raise their prices 10 percent per QUARTER.


Let’s look at the numbers. First off, do you think a customer comes in your store once a quarter to get a ring sized (4 times a year)? I did a survey in my store. We serviced/sold a customer and typically wouldn’t see them for another 18 months.

Our previous book for sizing a ring smaller was $42, and now, two years later, it’s $50. This is sticker shock?

If you take the consultant’s theory and raise prices 10 percent a month, here’s the math, starting in 2021:

  • Jan. 1, raise sizing price from $42 to $46
  • April 1 raises sizing to $50 (already at my new price in 90 days)
  • July 1 raises sizing to $54
  • Oct. 1 raise price to $58

See what happened? Why go through this? Make the one-time adjustment.

Across the USA, the price to size a yellow gold engagement ring smaller ranges from $32 to $85. Yes, you read that right, and ALL of these stores have a 90 percent closing ratio.

We add another $55 to the price to rhodium-plate. Some people charge an extra $10 (your cost for rhodium is more than about that), and some stores add on an additional $75 (typical rhodium add-on is $45 to $85). So sizing a white gold ring smaller is easily over $100.


All of these stores (from $32 to $85) sell 90 percent of customers who come in the store. It’s trust sensitive and they will pay.

So, what does cause sticker shock? BUYING Jewelry! Large diamonds and colored gemstones (man, have they gone up in the last few years).

Which would shock you? A center round diamond for $6,100, or sizing a white gold ring smaller, with checking and tightening 20 diamonds in the ring and then applying rhodium plating solution for a mere $105? The rhodium plating solution itself cost the store almost $1,500 for a one-pint bottle.

Come on, this is a crazy thought that raising repair prices would run off customers. Repairs have always had a 90 percent closing ratio. Raising prices does not run off customers, and if it does, you’ll still sell 8 or 9 out of 10 day in and day out.

In the last five years, have gold, silver and platinum gone up in cost or down? So, have your sales increased or decreased in five years? I’m betting they went UP, and I’m betting your customers are buying as everything in their life has gone up.

Don’t make me come back there and get you!


David Geller is a 14th-generation bench jeweler who produces The Geller Blue Book To Jewelry Repair Pricing. David is the “go-to guy” for setting up QuickBooks for a jewelry store. Reach him at



Time for More “Me Time”? Time to Call Wilkerson

Rick White, owner of White’s & Co. Jewelry in Rogers, Ark., knew it was time to retire. Since the age of 18, jewelry had been his life. Now it was time to get that “me time” every retailer dreams about. So, he chose Wilkerson to manage his going-out-of-business sale. White says he’d done plenty of sales on his own, but this was different. “Wilkerson has been a very, very good experience. I’ve had the best salespeople in the history of jewelry,” he says. “I recommend Wilkerson because they are really the icon of the jewelry business and going-out-of-business sales. They’ve been doing it for decades. I just think they’re the best.”

Promoted Headlines






INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)


Latest Comments

Most Popular