What I know it's at least about 100%, but maybe someone else has some better information?
Thanks
2007-02-05 07:42:00 · 9 answers · asked by tom.dab 1 in Business & Finance ➔ Small Business
Yes, I should say that at the beginning. I'm thinking about a quite precious jewellery online shop -as someone said 'once in a lifetime purchase'. The shop will be dedicated to people who have some money and looking for something unique. I have been wondering that doubled price won't be too much. But in this niche you don't sell dozens rings or bracetets etc. in one day.
So, I think - 100% is reasonable margin?
2007-02-05 08:43:43 · update #1
I worked in costume jewelry manufacturing for years. Typical retail ranged from 100 to 1200% markup- NO KIDDING!
Shops in upscale tourist resorts used the highest mark-ups.
Sorry, I'm not too familiar with fine jewelry prices, but I would suggest that you shop some mall jewelers, then hit the pawn shops and vintage jewelry stores for some comparisons. You should get a good idea of the depreciation spread and I doubt that the pawn shop will be selling any item so low that it could be resold for an immediate profit.
Good Luck! Bless You!
2007-02-13 05:39:39 · answer #1 · answered by c. l 3 · 0⤊ 0⤋
It matters what sort of market you intend to trade in.
If its the 'ratners' bottom of the range jewellery market then the profit margin will be small as you will be hoping to sell large volumes at low prices.
However, if you are hoping to enter the 'Hatton Garden' end of the market, ie. luxury jewellery, then margins will be much higher and indeed 100% gross margins may not be out of the question as you will be selling to either wealthy people or people who are making a 'once in a lifetime purchase' such as an engagement ring.
Make sure you do your research before making a move. For example, is there a demand for high class jewellery shops in the area you are considering setting up business in? Are there already well established jewellers within this area?
2007-02-05 07:51:47 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Jewelry Profit Margin
2016-12-12 07:00:42 · answer #3 · answered by rosette 4 · 0⤊ 0⤋
I understand that the gross margin in a mall shop is close to 300%. It is the fact that inventory turnover is very slow with jewelry. The main cost is strong salesmanship, and security.
Some places are cheaper.
2007-02-05 07:50:46 · answer #4 · answered by John T 6 · 0⤊ 0⤋
Trust me it ranges from a minimum of 2.35 x cost to 10 times plus x cost and when you get to high end jewellers its what the market will stand.
i used to run a market stall selling only silver the tax man wants to see a minimum of 2.35 X cost.....some items i could make ten times but that is generally on smaller items
When you think that those were the profits i could make have a think on what the cost of a pair of earings to the large retailers is and then think on just what their profit margins are i bet sometimes they make 30---100 times cost...
regards and why do you ask?
2007-02-05 07:54:09 · answer #5 · answered by cosmic 2 · 0⤊ 0⤋
try between 300 and 700% to be realistic and to make a good living. we do party plans at that sort of mark up the big shops go for 1000%
2007-02-07 04:02:05 · answer #6 · answered by tomas b 3 · 0⤊ 0⤋
The normal retail markup is 33 1/3% of cost,otherwise you are being done!
2007-02-05 07:48:52 · answer #7 · answered by Anonymous · 0⤊ 0⤋
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2016-04-30 19:32:52 · answer #8 · answered by ? 3 · 0⤊ 0⤋
I worked in a Jewelry store years ago and our markup was 300%
2007-02-05 08:43:09 · answer #9 · answered by Anonymous · 0⤊ 0⤋