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JEWELRY BUYING GUIDE

Before you spend your hard earned money, make sure you are educated on what you are buying. 

The largest mystery you must solve before making a purchase of a piece of jewelry is what determines the cost of any specific item. This will allow you to know if the piece is worth the price. 

Jewelry knowledge and facts are the best ways to assure you are getting a good deal, rather than relying on outside information, which often times is more misleading or marketing tactics.

Jewelry Price Factors

1. Materials
2. Labour
3. Design
4. Service
5. Branding

Gold and diamond Jewelry Materials

Materials

Refers to the supplies use to create that piece such the main element of the piece (EG: gold)

Gold and diamond Jewelry Labour

Labour

Refers to things that required time to do such as mould making, casting, stone setting, etc. 

Gold and diamond Jewelry design icon

Design

3D graphic design, wax mould making and other artistic work.

Gold and diamond Jewelry service icon

Service

Rent for the store location, equipment, wage for the jewellers/employees, website, marketing, etc. 

Gold and diamond Jewelry branding icon

Branding

Paying for associating a product with the quality of a designer or brand. 

NOTES

On top of those 5 things, companies will mark up the price to make money and be able to stay in business. This can be a very small amount, but some companies will have an extremely large mark up or profit margin. They may be misleading their customers on the true quality of their jewelry and charging them high price but when in reality, their jewelry cost them very little which leaves them with a lot of profit.   

Goals for a successful purchase

Gold Plated

  • You want to have the bulk of the cost go into the material of the purchase. Gold is the most valuable material from gold plated jewelry so if you’re purchasing a more expensive plated piece, make sure it is because it has thicker gold plating (more gold). The materials also include the base material and plating finish. These are both important in the overall quality of a plated piece and what you want your money going towards.
  • Jewelry that is labour intensive and well made can also increase it’s price. Labour/craftsmanship is the other thing that a lot of the cost should come from

Solid Gold

  • A successful jewelry purchase is when the jewelry appreciates in value over time or is convertible to instant cash value with no loss when you’re ready to upgrade or sell.
  • You want to have the bulk of the cost go into the material of the purchase. Materials like gold and diamond are always In demand and easy to liquidate. They have always gone up in value over long periods of time. 
  • Although materials are the safest bet for a successful purchase, they aren’t the only way to be able to purchase with confidence. Jewelry that is labour intensive can also retain or gain value if the labour is masterfully done. 
  • If a solid gold purchase is done right, you can make your jewelry purchase an investment just as much as it is a luxury accessory.

AVOID

When buying jewelry you want to avoid the following to not over pay for your jewelry or purchase from the wrong place.

Gold Plated

  • Some companies will charge a high price and all of that cost comes from marketing expenses, packaging, a large mark up/profit margin, etc.
  • Be sure you don’t get ripped off from companies selling a $1 plated piece for $100 because of the expenses the take on trying to make their jewelry seen high quality such as marketing or packaging. Some companies will sell a piece that costed them $1 for $50+ just so that it doesn’t seem as cheap as it really is.

Solid Gold

  • There is only 1 of the 5 aspects of jewelry cost that retains no value, which is service. Service is the cost of operation which makes up part of the price of jewelry. It’s the main cause of of jewelry either losing value or haven an unpleasant purchasing experience because the service portion of your piece of jewelry is unfairly inflated. 
  • Buying from a physical jewelry store location will typically result in the highest service cost because of all the expenses of running a retail store. You want to have the bulk of the cost go into the material of the purchase. Materials like gold and diamond are always In demand and easy to liquidate. They have always gone up in value over long periods of time. 

HOW Gold City Prices

Gold and diamond Jewelry Materials and Labour icon

Materials & Labour

When you buy a Gold City product, most of your money goes into the materials of the piece and the labour required to make it. All of our jewelry is masterfully crafted to perfection by expert jewellers.

Gold and diamond Jewelry design icon

Design

We work with professional jewelry designers to design the most detailed and best looking pieces but it doesn't increase our prices. We cover all these costs so you can get the best value for your money.

Gold and diamond Jewelry service icon

Service

As a growing company, we have large service costs but don't inflate our prices to make up for this at all. We feel like that would be unfair to our customers since our expenses like marketing or the wages for our employees don't affect the jewelry's value. 

Gold and diamond Jewelry Branding icon

Branding

When you see "Gold City” or “GCS” or our logo on a piece, you can be assured that it is a well made piece of jewelry. Although our name has significant meaning and is associated with nothing but the highest quality, we do not inflate our prices because of this.

We hope you learned something new. Now that are more knowledgeable about jewelry cost and pricing, you can determine what a good deal is on your own to get the best value from your purchase.