high street wedding ring price 7 times value of gold content

withabix

Try Betts Metal Sales. They are on Spencer St in Birmingham Jewellery Quarter.

http://www.bettsmetalsales.com/

Register first for the proper prices.

My 19 gramme 18kt white gold ring came from there and was excellent value.

Today's 18kt price seems to be £31.03 + VAT per gramme of finished ring.

mazziem

floss2 wrote: »

We bought our bands (18ct shaped diamond set & 9ct D-band) from Goldsmiths using Tesco vouchers, which gave 4 times the face value at the time. As far as I'm concerned, the Tesco vouchers gave us £900 worth of Goldsmiths vouchers, not the hard cash we would have had to spend if we had gone somewhere else.

We are doing the exact same, I have about £400 in clubcard so will get me a stunning ring from goldsmiths xx

hildon233

Idiophreak wrote: »

Kind of a simplistic way of looking at it, to be honest. ...
It's really not meaningful to compare the cost of raw materials with the final price in such a black and white way. I'm sure there are only a few quid's worth of materials in an i-pod, for instance, I'm sure the cotton that goes into a pair of Calvin Klein boxers runs into pence...I've no doubt the high street make a good profit on these rings, but to suggest 6/7 of the rrp is markup is quite misleading tbh.

As I said in the OP, I don't expect to pay only for the gold - of course there are plenty of other costs. To re-iterate this is to miss the main point of my post, which was:
1. It is possible to pay far less by avoiding the high street rip-offs.
2. I object to the dishonesty of the high street jewellers' claims that their products cost a lot because of the precious metals they contain.

miss_renegade

My ring cost me £120 I think as it was 2nd hand. Would be double the price if it was new, and they're still making a profit at that price!!

pelirocco

Idiophreak wrote: »

Kind of a simplistic way of looking at it, to be honest. Fine, there's £105 worth of gold. Then you've got a couple of quid's worth of silver and copper, then the process of manufacturing the 18ct gold. Then you've got the costs of acquiring the gold, storing it, heating it, forming it, polishing it, boxing it...then you've got rates, heating, furniture for the shop, staff, processing payments, resizing the ring, customer service, branding...and I expect when you go to a jewellers you actually want to see more than one ring, so there's an investment in stock, too...

It's really not meaningful to compare the cost of raw materials with the final price in such a black and white way. I'm sure there are only a few quid's worth of materials in an i-pod, for instance, I'm sure the cotton that goes into a pair of Calvin Klein boxers runs into pence...I've no doubt the high street make a good profit on these rings, but to suggest 6/7 of the rrp is markup is quite misleading tbh.

sorry sensible posts arent allowed:D

heart_free

As an ex employee of a jewellers, I think hat you are looking at the cost in a very simplistic way. It's not just the cost per gram of p the good, it's also the design, manufacturing and finishing processes to obtain the finished product. Then there is the profit raging of each party involved in the process of manufacturing, wholesaling and retaining the insisted item most high street jewellers purchase in their jewellery from outside manufacturers and the standard mark-up for times is 2.5 - 3 times. Therefore if a high street jeweller purchases a ring from one of their suppliers for £100 they will typically retail it for £250 - £300. And if you think this is excessive the cost of clothing for the retailer from the supplier is just 15-25% of the retail price!