Cost, Margins, and Goldsmiths

Remaining competitive in the jewelry market requires constant research, skill upgrading, cost management, and a host of other "hands-on" efforts. We have all watched as companies competing within our market areas have undercut standard margin structures in order to attract and win sales, sometimes putting themselves out of business in the process, and seriously hurting the reputations of those whom they undercut. To an outsider looking in, this can't possibly be a bad thing. This sort of competition is present in every business environment, and is a major part of every manufacturer and retailer's strategy. Where the jewelry industry harms itself miserably as a result of its cutthroat competition is clearly illustrated in the following anecdote: A woman whom I have worked with in the trade called me yesterday to get a quote on a handmade, custom platinum mounting for three diamonds whic
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