Money on the counter

Stacy E. Apelt - Bladesmith

ilmarinen - MODERATOR
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Knifemaker / Craftsman / Service Provider
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I was reading a thread where the price for a job was being discussed,and how unrealistic the customers expectations were.I thought you guys would like this :
Last week I had an pushy customer who wanted a last minute custom ring made.He wanted all sorts of special work, had pictures off the internet,and such.I told him it was far too late to even think of starting on such a job,it would cost at least $500 (of the top of my head),and I was not sure I was interested in the job at all.He took out his wallet and slapped three $100 bills on the counter,saying that he knew all about the markup on jewelery,and he was willing to pay up front for the ring. I took a $20 out of my pocket and slapped it on top of his money.He asked if I wanted $20 more? I said,"No,I am giving you $20 to take this job to someone else." He picked up his $300 and left.Returned a few hours later,willing to wait until I could do the job and asked for the final price. I wrote up the job.I figured it at $650 and charged $700.He paid a 50% deposit and was happy to do it.What he didn't know is that I got a call from another jeweler who had quoted the man $1000 that afternoon.
 
I didn't know you made jewelry, Stacy.

That's my hobby, but I haven't had any time for it the last few years. :(

I love to fabricate jewelry, especially rings, from gold and silver.
 
Don,I've been a custom goldsmith for 30 years.Started as a hobby for me back in the 60's.
 
bladsmth said:
.What he didn't know is that I got a call from another jeweler who had quoted the man $1000 that afternoon.
don't you just love phone calls:D
hey
just what is it with that mark up you guys get anyway:grumpy: ;) :D
 
Believe it or not,most jewelers don't have that much markup.The big mall stores and those with all that TV and magazine ads do mark up a good bit.
I mark cheaper items up a max of three times cost.Bigger items are double cost,and really large items are just an add on profit.The cost of overhead,employees,taxes,everything comes out of that markup.So a $200 item marked up to $500 will net maybe $50-$75.It ain't all profit,believe me.I make more profit on some small diamonds than I do on a two carat stone.I have to compete with the internet on big stones.Sometimes I only make $1000 on a $10,000 sale.
 
bladsmth said:
Believe it or not,most jewelers don't have that much markup.The big mall stores and those with all that TV and magazine ads do mark up a good bit.
I mark cheaper items up a max of three times cost.Bigger items are double cost,and really large items are just an add on profit.The cost of overhead,employees,taxes,everything comes out of that markup.So a $200 item marked up to $500 will net maybe $50-$75.It ain't all profit,believe me.I make more profit on some small diamonds than I do on a two carat stone.I have to compete with the internet on big stones.Sometimes I only make $1000 on a $10,000 sale.

$500 will net maybe $50-$75.
wow 10%:eek:
that sounds about like a chain saw sales , I'd have to assemble them, oil and gas it. selling was basically to bring them back for accessory sales and repairs..

in My small engine biz that I'm just about backed out of now:thumbup: (20 years of it) I got to keep about 6% when it was all said and done..
I think I'll become a jeweler :D
I think working for a jeweler might be even better ;) :D naw I'll stay with making knives I think:D
 
:barf: Got to love customers like that! My favorite is "I'd like to get a knife made for Christmas" a week before Christmas!
 
Will52100 said:
:My favorite is "I'd like to get a knife made for Christmas" a week before Christmas!
Tell 'em "Sure thing" then let them know it's Christmas of *next year* you're talkin' about. ;) :D
 
bladsmth said:
I was reading a thread where the price for a job was being discussed,and how unrealistic the customers expectations were.I thought you guys would like this :
Last week I had an pushy customer who wanted a last minute custom ring made.He wanted all sorts of special work, had pictures off the internet,and such.I told him it was far too late to even think of starting on such a job,it would cost at least $500 (of the top of my head),and I was not sure I was interested in the job at all.He took out his wallet and slapped three $100 bills on the counter,saying that he knew all about the markup on jewelery,and he was willing to pay up front for the ring. I took a $20 out of my pocket and slapped it on top of his money.He asked if I wanted $20 more? I said,"No,I am giving you $20 to take this job to someone else." He picked up his $300 and left.Returned a few hours later,willing to wait until I could do the job and asked for the final price. I wrote up the job.I figured it at $650 and charged $700.He paid a 50% deposit and was happy to do it.What he didn't know is that I got a call from another jeweler who had quoted the man $1000 that afternoon.

I know what you are talking about. A friend and I install fences on the side. We will quote a guy between $800 and $900 to fence in a 70'x 50' yard with chain link and the guy will balk. He calls a few fence companies and they quote him $1900 to $2500. All of a sudden our bid is reasonable.
 
wow....love the way you handled that, Stacy. :thumbup:
 
Job done well, Stacy. :thumbup:

You are probably a "pleaser" like me, but danged if you just have to turn some folks away. I have a friend who keeps bugging me to make him a set of kitchen knives. I really HATE making kitchen knives, so I steered him towards Danny Koster. No way. This guy said he only wanted my kitchen knives, and basically I told him I didnt want the job.

Oh well, Dan... maybe he'll come around. :)
 
ahem....only my momma gets to call me Danny....


:eek: :eek:



I did appreciate the referral....

In the spirit of this thread, maybe you should quote him a price of $3000...:p :D
 
Daniel Koster said:
ahem....only my momma gets to call me Danny....


...:p :D

I cant help it, Daniel... I'm Irish!

Oh Danny boy, the pipes, the pipes are calling
From glen to glen, and down the mountain side
The summer's gone, and all the flowers are dying
'Tis you, 'tis you must go and I must bide.
 
jhiggins said:
Oh Danny boy, the pipes, the pipes are calling
From glen to glen, and down the mountain side
The summer's gone, and all the flowers are dying
'Tis you, 'tis you must go and I must bide.

You've got me ready to head for a nip o'the old Black Bush, Mister Higgins! Man's not supposed to cry without a whiskey in hand! :D
 
fitzo said:
You've got me ready to head for a nip o'the old Black Bush, Mister Higgins! Man's not supposed to cry without a whiskey in hand! :D

Damn straight, Brother Mike. :thumbup: I'm a Jameson man meself, unless you want to lure me away with a glass of Knob Creek. :D
 
jhiggins said:
Damn straight, Brother Mike. :thumbup: I'm a Jameson man meself, unless you want to lure me away with a glass of Knob Creek. :D

I was sniffing the cap on a bottle of Jameson this very morning after I mentioned the whiskey! It seems my liquor cabinet has about 20 bottles, a dozen of which are different whiskeys! Let the rest eat cake.... :D The beer in my fridge is 2-3 years old. Unsurprisingly, no one ever asks for a second beer...LOL

I haven't had a drink in a year.:o Last Christmas I bought a bottle of JD Single Barrel and had a snort; good stuff. Maybe I'll do another soon. Irishman oughtta have at least one snort a year or they may come take me green away!
 
fitzo said:
You've got me ready to head for a nip o'the old Black Bush, Mister Higgins! ...:D

Mike-as you told Dan in another thread-you better hope IG doesn't wander in and find that statement
 
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