Gold has swung by hundreds of dollars an ounce within a few months this year. A quote built on this morning’s price can lose its margin before your client says yes. A short, written policy fixes that.
The policy in one line
This quote is valid for 24 hours at today’s gold price. After that, the metal portion is repriced.
Use 48 or 72 hours if the market is calm. The point is that the quote has an end date.
Three parts that make it work
- Split the quote. Show the metal on its own line, and the labour, stones and setting on others. Only the metal line moves when gold does.
- Date it and price it. Write the gold price and the date on the quote, so a repricing is a matter of arithmetic and not an argument.
- Let a deposit lock it. Once your client pays a deposit that covers the metal, the price holds, and you can commit to the work.
Ask your manufacturer for an estimated metal weight, and agree early whether you are billed on that estimate or on the finished weight. They can differ slightly.
What to say to your client
Keep it plain: Gold moves daily, so this price holds for 24 hours. If you would like to lock it in today, a deposit does that. Most clients understand a price that follows a market they read about in the news.
Softening a rise
When the number is too high, offer choices instead of discounts: 14K or 10K in place of 18K, a slightly lighter profile, or a hollow or partly set design. Many jewelers are steering toward lower karats for this reason.