Rule of Thumb re: setting costs in relation to gemstone cost

[the_mother_thing]

I have been thinking about this in my ring journey ... Is there a "guideline" for what one might aim/expect to spend on a setting in relation to the gemstone cost? For instance if stone/s cost $5k, half that amount is reasonable for the setting? I realize this is somewhat dependent on just how ornate or decorative or simple a setting might be ... Just curious if there is anything like this, much like the engagememt ring "standard" (not that I subscribe) is two months salary (thx to DeBeers).

Thanks much!

 

[chrono]

Re: Rule of Thumb re: setting costs in relation to gemstone

There is no such standard. Actually, the e-ring "standard" is a marketing ploy by the diamond industry in order to make more sales / profit, and it has worked marvelously. It will vary on the individual's preference, whether one likes the entire package, only cares about the stone, or the setting is what makes the ring. Personally, I am into the entire package but I cannot justify having a setting that costs more than the stone itself with a few exceptions (high metal price, stone obtained at a super low deal, exceptionally beautiful stone).

 

[the_mother_thing]

Re: Rule of Thumb re: setting costs in relation to gemstone

My thoughts echo yours, Chrono. One of the custom estimates we got back from the jeweler to have him make the setting (like G&Co) from scratch was $4300. That was about 160% what the stone cost us! I am hoping G&Co's custom service will be more reasonable ... But it got me thinking through this process if there was something (besides my common sense) that says "okay, this is about reasonable" to expect or aim for in terms of overall value/quality/etc for the finished piece.

Thanks for replying so quickly. And happy Monday!

 

[chrono]

Re: Rule of Thumb re: setting costs in relation to gemstone

Have you shopped around for quotes? I've found that it can vary as high as 30% to 50%, even with the often reputable and highly recommended jewellers. And a happy Monday to you too, although I'm not exactly delighted that it's Monday.

 

[the_mother_thing]

Re: Rule of Thumb re: setting costs in relation to gemstone

Have you shopped around for quotes? I've found that it can vary as high as 30% to 50%, even with the often reputable and highly recommended jewellers. And a happy Monday to you too, although I'm not exactly delighted that it's Monday.

That's what we are doing now ... I got a second estimate to modify the ring (assuming we purchase it & add the changes to it post-production) by another jeweler and it was more reasonable IMO ($1600 incl purchase of ring) than the first jewelers modification estimate ($2400), but when I learned that G&Co will customize & recast their own rings, that seemed like a logical option to pursue as well given it will be truly made for my stone vs the other way around (and for that, I don't mind paying extra ... but not twice the price like the other full custom quote of $4300).

If this estimate comes back higher than we would like, and decide I am not comfortable with making mods to the ring post-purchase, I do have back up options of more modestly/reasonably-priced traditional settings I like that we can order and just add the head to them (wouldn't require any real "customization"). We are trying to stay around/under $2k.

 

[LD]

Re: Rule of Thumb re: setting costs in relation to gemstone

I have a Paraiba Tourmaline in an LOGR setting and I have a 1.5ct diamond that I picked up for next to nothing in an expensive custom made setting! So, for me, it's about the design and not the cost (to a large extent).

 

[Euphony]

Re: Rule of Thumb re: setting costs in relation to gemstone

You can probably get a better price than that. In my experience, the price of custom jewellery can actually double from goldsmith to goldsmith. It is all about overhead. If you are going to a shop in a very high-end shopping area, they are paying through the nose for that location. If they do everything on sight, they are paying a lot to have the equipment and workforce to do so. There is also the fact that when you bring your own stone, the jeweller has to make all the profit off the mount. When you source a stone through a jeweller he will likely take a small mark-up on the gem and a small mark-up on the mount. When you bring your own stone, the labour involved for the jeweller does not change, and he still needs to make his margins. He has to re-coup that entirely through the mount cost rather than it being spread out.

What metal are you using, platinum or white gold? That makes a big difference on more substantial designs. There is a lot of pave work. That adds to the labour cost quite a bit. This ring was never going to be inexpensive, but my completely personal opinion is that it can be done well for less than quoted, especially given the quotes for modifying the design are so much lower.

 

[the_mother_thing]

Re: Rule of Thumb re: setting costs in relation to gemstone

I originally wanted palladium' but after seeing THE ring in WG, would be happy with that as well, and especially from a durability perspective. I do appreciate that the pave makes crafting the ring from scratch quite a chore.

All custom quotes were for 14kt WG.

And btw, the very first, original design I posted, also came in at $2300, which - given the same ring (minus accent stones - one each side) in identical 14k setting with a synthetic Alex was on a website for <$400 - seemed absurdly high.

Where we live, we have three or four jewelry stores (small town, only one in a high rent district but they do no custom work), and only two offer custom work. Depending on what G&Co comes back at, I may take the design up to a few custom jewelers in Raleigh for quotes. I have a couple recommendations up there as well. But having G&Co run the full custom estimate is my first preference since they are the most familiar with their own design and feel like they have a brand to stand by, and a warranty on the piece.

By all means, if there are others any of you know who do quality work & can craft this ring for me that I should also consider/contact, please let me know. It's so hard to weave through online options because there are so many and I have experience with none.

 

[chrono]

Re: Rule of Thumb re: setting costs in relation to gemstone

Try these two (both are in NY):
Engagement Rings Direct
IDJ

 

[pinkjewel]

Re: Rule of Thumb re: setting costs in relation to gemstone

Do you have a photo of the type of setting you want? If you're near Cary,NC I'd highly recommend getting a price quote from J. Edwards Jewelry. When I've gotten price quotes in the Raleigh area- their prices have been the best I've come across and also very nice workmanship. I also had them resize (larger) my engraved wedding band and they managed to engrave the added sized portion perfectly-you can't even tell where it was done!! Very nice family business.

eta- Just saw the ring you want in your other thread-so never mind posting it. Still recommend you talk with J. Edwards if you're interested in staying more "local" than internet.

 

[periwinklegirl]

Re: Rule of Thumb re: setting costs in relation to gemstone

I originally wanted palladium' but after seeing THE ring in WG, would be happy with that as well, and especially from a durability perspective. I do appreciate that the pave makes crafting the ring from scratch quite a chore.

On the palladium durability front...

When I was getting my old halo made, Eric mentioned that they had been having trouble with the little prongs on the pave being too brittle in palladium and inclined to snap! So they made it in 14k white gold for me.

Good luck!

 

[the_mother_thing]

Re: Rule of Thumb re: setting costs in relation to gemstone

I have a Paraiba Tourmaline in an LOGR setting and I have a 1.5ct diamond that I picked up for next to nothing in an expensive custom made setting! So, for me, it's about the design and not the cost (to a large extent).

What is an LOGR?

Do you have a photo of the type of setting you want? If you're near Cary,NC I'd highly recommend getting a price quote from J. Edwards Jewelry. When I've gotten price quotes in the Raleigh area- their prices have been the best I've come across and also very nice workmanship. I also had them resize (larger) my engraved wedding band and they managed to engrave the added sized portion perfectly-you can't even tell where it was done!! Very nice family business.

eta- Just saw the ring you want in your other thread-so never mind posting it. Still recommend you talk with J. Edwards if you're interested in staying more "local" than internet.

Thx for the suggestion! I will keep them in mind. I do get to Cary every couple weeks, and am due again, actually. I think we have been there before also when b/f was looking for authorized Rolex dealers.

Try these two (both are in NY):
Engagement Rings Direct
IDJ

I have browsed both those sites. Are you familiar with & recommend their custom work for creating something like what I am trying to do?

I am at the airport now heading to Cleveland so maybe I will fire off some emails to these places tonight and see what I can manage from an estimate perspective to compare with G&Co.

While we don't have a set date we need this done by, I think b/f wants it done before end of first week in June, as we have a large family gathering then and I get the sense he wants to capitalize on that time to announce things officially. So maybe I need to get multiple estimates simultaneously ... just in case. And it really is killing me that this pretty stone is sitting in the dark confines of our safe vs displaying its beauty on my finger.

 

[chrono]

Re: Rule of Thumb re: setting costs in relation to gemstone

LOGR = Lord of Gem Rings, an eBay vendor from China that many on PS have ordered from.
IDJ is new to me (but not to most PSers in the Rocky Talky section) but ERD has been making fabulous custom designs for several years.
When embarking on a setting project, I request quotations from at least 3 vendors at the same time.

 

[the_mother_thing]

Re: Rule of Thumb re: setting costs in relation to gemstone

LOGR = Lord of Gem Rings, an eBay vendor from China that many on PS have ordered from.
IDJ is new to me (but not to most PSers in the Rocky Talky section) but ERD has been making fabulous custom designs for several years.
When embarking on a setting project, I request quotations from at least 3 vendors at the same time.

Thx ... I will look at all options ... Appreciate it.

Of course, I have lots of time right now to browse... Sitting on flt line with an hour plus delay due to air traffic control shortages/delays thanks to the sequestration.

 

[Euphony]

Re: Rule of Thumb re: setting costs in relation to gemstone

If you are ordering pave manufactured in China, I would find out whether the stones were set by hand or cast in place. China is notorious for shoddy pave, and yours has a lot.

 

[chrono]

Re: Rule of Thumb re: setting costs in relation to gemstone

Chinese made settings have all their melees cast in place; all right for occasional wear RHR but not everyday wear e-rings.

 

[velouriaL]

Re: Rule of Thumb re: setting costs in relation to gemstone

I think you've gotten a lot of good advice here. Shop around but definitely keep quality in mind!

I go back and forth on setting to stone cost ratio. At this point, I like a lot of cheap-ish (but well-cut) stones but unique and special goldwork. If you offered me a very-pretty-but-cheap gray spinel in an MC2 setting, I'd take it over a more expensive stone in a mass-produced setting. When people buy rings planning to upgrade later, sometimes the get *the* rock in a temporary setting and sometimes they get *the* setting with a placeholder stone. Just depends on personal preference! Of course, it's always better when you can get both...

 

[the_mother_thing]

Re: Rule of Thumb re: setting costs in relation to gemstone

Of course, it's always better when you can get both...

THAT is what i am aiming for the first time around. I want a beautiful, quality setting with little/no regrets. We don't mind paying for that, but naturally, we don't want to overpay, either.

I do worry about quality in ordering online, especially if there is questionable QC (not suggesting any of the noted companies has that). I think that's why I am hoping G&Co comes back with a reasonable price (in the $1600-$2300 range) for a quality piece of jewelry for my Alex. I feel like its the best way to achieve the quality balance I want in a ring that is made for my stone.

 

[distracts]

Re: Rule of Thumb re: setting costs in relation to gemstone

I don't own a single ring where the setting was less expensive than the center stone. Not even my engagement ring. I don't apply any sort of rule of thumb to the price - I have an idea in mind and I go for it. I'd rather get it right, pay more for the setting, and end up with something I love and frequently wear, than worry about whether it's kosher to have a setting that costs more than the stone. Like I have a gorgeous 2ct zircon right now that I want to have set in an elaborate setting - the zircon was $200 and I fully expect the setting to be at least ten times the cost of the stone. And I'm okay with that, because if I set it in a $200 solitaire, I'd never wear it, but if I set it in this ridiculous thing I have in my mind, I'll wear it a ton. Now, if it was a 10k stone, I'd probably still be happy with a 2-3k setting. But I think that's more like a "what is the minimum reasonable amount you'd expect to spend on this kid of setting" than a setting to stone cost ratio. I don't think cheap stones necessarily warrant cheaper settings any more than expensive stones necessarily warrant more expensive settings.

 

[chrono]

Re: Rule of Thumb re: setting costs in relation to gemstone

Distracts,
I agree with you; there's no rule of thumb because sometimes the stone just isn't expensive (hurray for this ) and there's no way the setting can possibly cost less than the stone. The factor then becomes getting a quality setting at a reasonable price.

 

[pandabee]

Re: Rule of Thumb re: setting costs in relation to gemstone

Distracts that is really helpful advice as I'm trying to debate whether it is worth it to get a 14k/diamond setting vs. argentium/sapphires for a project I'm working on. I definitely think it is fortunate that colored stones can be so inexpensive for what you get in comparison to diamonds but I think especially with the cost of metals right now, it makes it hard to come to terms with the price of settings.