Turning your Designs into Reality- Policy and Pricing
So now we have hammered out the perfect design and got it right where you want it. Now you need to understand what the cost will be and what can I do to make it fit within your intended budget.
Here is how I price out individual custom pieces:
- Design time (by now this has been paid and is being credited as part of the down payment) ($150)
- Cutting and shaping the wax replica. My CAM system costs well over $60,000 to replace and it costs $95/hr to run. A typical engagement ring takes 1 hour, but intricate designs can take as long as 3 hours. ($95- $285)
- Making the mould and casting. There are consumables and labour involved here. A typical mould costs $35 in consumables and takes me about 1 hour @$75/hr ($110)
- Polishing. This takes about $20 of consumables and about an hour. ($95)
- Finishing and setting stones. This can take from 1-4 hours, but usually closer to 4 hours ($300)
- Materials. The metal weight and stones used in the design.
So, from this list we can see that a typical engagement ring will cost about $750-$850 NOT including materials. This price variation is dependent on the number of stones being set and the hours need to cut the wax (how intricate the design is).
The other major factor, in pricing, are the materials needed. The main metals I use are all karated and coloured golds, palladium, platinum and silver.
Once the design is finalized, my CAD program will estimate the amount of metal needed to cast the design. This weight is dependent on whether the undersides of the ring shank are hollowed out or if they are solid. Typically you will find all mass produced rings are hollowed out; however I do not recommend it, as they will wear out faster and feel light and slightly cheap on your finger. Other factors, such as band width and thickness, play a large role in the rings overall weight and metal needed. Often I can recommend certain design changes to help lighten up a ring and keep it within budget. Read my recomondations on designs and styles.
Another way to alleviate costs is to supply your own gold or diamonds. I do buy used gold or I can recycle your gold into a new piece. To help understand karated gold click on the link.
Exchanging gold or selling me your gold
Here are the formulas I use for either exchanging or trading your gold in. There is a $50 fee for exchanging or trading in your old gold. This fee covers the time needed to prep or purify the gold for proper future use.
Exchanging 10k (any colour) to 14k (any colour) or to palladium
weight of 10k (any colour) gold times (x) .60 = weight of 14k (any colour) gold or palladium in exchange
example: 2.4 grams of 10k = 1.4 grams of 14k (any colour) gold or palladium
Exchanging 14k (any colour) to 18k (any colour) gold
weight of 14k gold times(x) .60 = weight of 18k(any colour) gold in exchange
example: 2.4 grams of 14k = 1.4 grams of 18k (any colour) gold in exchange
Exchanging platinum for 18k (any colour) gold
weight of platinum times(x) .60 = weight of 18k (any colour) gold in exchange
example: 2.4 grams of platinum = 1.4 grams of 18k (any colour) gold in exchange
Exchanging platinum for 14k (any colour) gold straight across trade
example: 2.4 grams of platinum = 2.4 grams of 14k (any colour) gold or palladium
Exchanging 10k (any colour) gold for 18k (any colour) gold
weight of 10k gold times(x) .45 = weight of 18k (any colour) gold in exchange
example: 2.4 grams of 10k = 1.1 grams of 18k (any colour) gold
Obviously there are other combinations out there, but these are the most popular formulas that I use.
When trading straight across, meaning I am actually going to use the supplied gold/platinum that is supplied by the customer, there is only a $50 fee for the prep work.
Sometimes the customer would rather sell me their gold/platinum and use it as a credit towards a custom product or even for cash. This is fine, and I offer spot market price minus 20%. This -20% goes toward covering shipping the metal to the refinery and to cover the refining charges.