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David Geller

Jewelers, It’s Time to Raise Repair Prices

If you’re doing it for inventory, you should definitely do it in the shop.




YES, INDEED: INFLATION has hit the repair department.

I’m on several jewelers’ Facebook groups. The constant word is, “OMG diamond prices keep going up, we keep raising our diamond prices.”

The cost of the mountings are going up, mostly because of the melee that goes into the mounting, and the labor keeps going up. So, what do jewelers do? They raise their retail prices, just like you do because their cost has increased.

You wouldn’t believe how many jewelers are coming out of the woodwork updating their older Geller Blue Books, many of which are 5 to 10 years old! Can you believe it?

Many jewelers are afraid to raise their sizing price $5 to $10 from years ago — meanwhile, they have no problem raising a replacement diamond tennis bracelet $500.

It’s all over the news that every price on the planet has skyrocketed. Employees are quitting, and to keep employees, the store may have to increase salaries to keep good people.


Your repair cost and costs to keep the store open have increased, which includes:

  • Jewelers’ wages
  • Jewelers’ benefits and health insurance
  • Tools and supplies for the shop
  • Gold
  • Advertising for the shop
  • Salaries for sales staff

If you don’t have the latest release of our book but have your own repair pricing sheet, just increase all of your prices 10 percent right now. Three months later, do it again.

You’ll see that the shop is much more TRUST-sensitive than price-sensitive. It’s a numbers game. Think about these numbers:

10 people look in the showcase and you sell three or four out of 10. That means six or seven people leave the store without buying and leave you with hundreds of thousands of unsold, old, stale inventory.

If 10 people come in with a repair, typically nine out of 10 will leave the item to be repaired. That’s an 80- 90% win rate! One or two don’t like the price and leave, but look: eight or nine do make the repair sale for you. The shop usually has less than $20,000 of inventory, unlike the showroom.

If you haven’t raised your repair prices in a bunch of years, it’s time to do it now and learn how to sell it!


David Geller, Repair Department pricing Guru

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 [email protected].



Time to Do What You've Always Wanted? Time to Call Wilkerson.

It was time. Teri Allen and her brother, Nick Pavlich, Jr., had been at the helm of Dearborn Jewelers of Plymouth in Plymouth, Mich., for decades. Their father, Nick Pavlich, Sr., had founded the store in 1950, but after so many wonderful years helping families around Michigan celebrate their most important moments, it was time to get some “moments” of their own. Teri says Wilkerson was the logical choice to run their retirement sale. “They’re the only company that specializes in closing jewelry stores,” she says. During the sale, Teri says a highlight was seeing so many generations of customers who wanted to buy “that one last piece of jewelry from us.” Would she recommend Wilkerson? Absolutely. “There is no way that I would have been able to do this by myself.”

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