For more than 20 years, members have used the Repair Price Book to fine-tune their business. The guide provides structured pricing for the most common jewellery and watch repairs, calculated based on materials and precise labour time.
By monitoring changes in metal and labour costs, jewellery retailers can protect and enhance margins.
This is the 15th edition of the book that the buying group has published. Pre-orders are now open for members ahead of the Sydney Fair.
Managing director Colin Pocklington said that, with the precious metals market significantly changing over the past 12 months, retailers that don’t update their pricing strategy risk losing significant revenue.
"Keeping repair prices current is more critical than ever, particularly with metal prices having soared by over 40 per cent since the previous edition in early 2023," he told Jeweller.
"Repairs constitute a substantial portion of most jewellery stores' overall sales. Failing to price these services correctly means leaving significant revenue on the table.
“There’s simply too much at stake.”
The International Jewellery Fair will be held from Saturday, 17 August, to Monday, 19 August, at the International Convention and Exhibition Centre in Sydney’s Darling Harbour.
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