How Wedding Rings are priced
You may have wondered why Wedding Rings can be so expensive. Well here are some interesting facts which should make you consider shopping around when buying your Wedding Rings.
Firstly, all precious metal in the UK is Hallmarked by one of the four leading UK Assay Offices. It is illegal to stamp a precious metal yourself as it must be independently tested first before being offered for sale. This is to make sure that all precious metals being sold in the UK are consistent between jewellery stores.
You will therefore ask the question. Why does a plain Wedding Band in one store at £500.00 weighing 8 grams cost £700.00 for the same ring and weight in another? Where does the extra cost come from? The truth is very simple.
Every jewellery store will buy their stock at different times. This means that the price paid for the materials which have a market value in Dollars will vary day to day. This means that one store may purchase stock at a far better price to the next store due to the market value of the materials on the day. This will then affect the price of the item being sold. The important thing to remember is that the product will be exactly the same. So a big saving can be made by shopping around.
Just because the price tag is higher, it does not guarantee that the piece of jewellery is better in any way. Hallmarked metal is always the same quality!
Secondly, every store will have their own set of overheads. This will comprise of shop rent, shop rates, staff, electricity and stock. For larger stores, there may be a number of stores nationwide. These costs need to be paid for including the sample stock which is used to display the sparkling gems in the window and in store. These cost can be huge. This in turn drives up the cost of every piece of jewellery in each store as the cost of the sample stock needs to be recovered. The more stock you have, the high the prices will go.
So one store will have larger costs than the next. This will affect the price of each and every piece of jewellery. By looking to buy your Wedding Rings from a jewellery company who not only has low overheads but also makes their own jewellery, this will save you any additional costs. You can see some of the overheads applied to each product below.
Thirdly, the majority of stores do not make the jewellery they sell. They will have a team of buyers who will negotiate with the many different jewellery brokers who will in turn add their charges to the buying process. These middle men in turn drive up prices in store. Therefore, the larger the store the more you are likely to pay for the jewellery you purchase. When buying jewellery, it is always a great idea to see if you can find a local independent who is well established in the local community and has a great reputation.
The key to buying jewellery at the very best price comes down to understanding the weight of metals used and how the item was made. A Wedding Ring price can easily be compared if you know the gram weight of each ring. Simply divide the gram weight by the asking price to see which has the best price per gram. Remember, you are buying a precious metal so it is very important to buy wisely!
Many stores will not give their clients the gram weights of the Wedding Rings they are selling as they know that by the client having this information to hand, they risk losing out quickly to their lower priced competitor.
Here at Two Become One Jewellery we understand that our clients want the very best quality jewellery at an honest price. For this reason, we make 100% sure that we:
- Offer all gram weights when quotes are given
- We buy our materials per job not on mass when prices are high
- Make every ring by hand in house in our workshop to keep prices low
- Offer our customers re sizing for Free on plain Wedding Rings
- Never hollow out internal areas to lower costs
- Never add in costs to cover the sample stock
- Offer Free clean and polishing for life
- Offer our clients every option including highest and lowest prices
- Spend all the time needed to educate each client on the items they want to buy.
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