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Contents
- Why Nickel Free and should I be concerned?
- What is Gold filled?
- What is the Increment or Factor that accompanies pricing for precious metal findings?
- What is the difference between a Leverback and a Euro-wire?
- Do you have to stone set a Snap Setting?
Why Nickel Free and should I be concerned?
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What is Gold filled?
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What is the Increment or Factor that accompanies pricing for precious metal findings?
Precious metal jewelry finding pricing fluctuates according to the daily Silver and Gold market. These markets change constantly throughout the cycle of daily commodities trading on the London Exchange. Everyday an A.M. and P.M. fix are posted by the Wall Street Journal (APAC Tool, Inc. bases their invoice pricing on the London P.M. Silver and Gold market values on the day goods are shipped). See below for a detailed description of pricing.
Manufacturer’s Costing Methods: A precious metal manufacturer must establish costs based on all raw materials, manufacturing costs, overhead and markup. This costing process includes using a set (arbitrary) low market and a set (arbitrary) high market to establish pricing which conforms to the changing daily markets. The difference between these high and low costs is then divided by the difference of the set markets used for the calculation. This figure then represents the increment or factor. (Note: This costing method produces consistent pricing, the cost and markup factor remain the same whether the market is high or low. Only the daily market fluctuation relative to the metal content of the item changes).
Price Quotes: When a customer requests a price quote, a silver and/or gold market value must also be specified. Usually a market value close to the day’s values are used. (This market value is arbitrary). With each price quote an increment or factor is given, (as described above) with this increment the customer can calculate pricing at any market value. See example below for price calculation procedure.
Invoice Pricing: Invoices are calculated based upon the London PM Gold and Silver values on the Date of Shipment. See example below for price calculation procedure.
Example: (US Dollars)
Quoted price: $23.45 per 100 pieces. at a $5.00 Silver Market
Increment: $1.2346 per Dollar Change in Market per 100 pieces.
Current Market: $5.2515 Silver Market
(Current Market: $ 5.2515) - (Quoted Market - 5.0000) = Market Difference $ .2515)(Increment $ 1.2346) x (Market Difference x .2515) = Price Change $ 3.1050
(Quoted Price $ 23.45) + (Price Change + 3.1050) = Price at Current Market $ 26.555
If Current Market value is less than Quoted Market subtract Price Change instead of adding to calculate Current Price
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What is the difference between a Leverback and a Euro-wire?
There is no difference between a Leverback and a Euro-wire. This is just one of hundreds of synonyms found in the jewelry industry.
Do you have to stone set a snap setting?
Most stone settings found on the market today require a secondary operation to set the prongs of the snap setting snug around a stone. With the development of the True-Snap™ setting, the need for a secondary operation has been eliminated. True-Snap™ settings are designed to snap snug around a stone with the tension built into the setting itself. APAC assembles True-Snap™ pendants, earrings and leverback earrings using fusion technology. This fusion method bonds the parts together without annealing allowing the parts to retain their tension and durability.
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When is ... ?
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