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Traditional jewelers
often employ “keystone” or “triple-keystone” pricing, which is to take the cost
of a piece of jewelry obtained at a wholesale price and to either double
(keystone) or triple (triple-keystone) the cost in order to obtain the retail
selling cost to you, the consumer.
We started Apples of
Gold Jewelry on the single premise that traditional jewelry companies’ prices
were simply unfair to the average jewelry consumer. With wholesale jewelry marked up anywhere from between
100%-300%, we set out to do what any ethical company we hope would do—to undo what we
believed to be an “unjust” mark-up in the jewelry industry as a whole.
Sure, we were
perhaps being a little judgmental—after all, traditional jewelers have larger
overhead, less exposure to the national and world markets, and sometimes
hundreds of thousands or even millions of dollars of inventory. Still, we did
not feel that market prices were reasonable.
An
Average of 50% Below Retail
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We, too, learned that
running our business model incurs heavy business expense and a different kind of
overhead, such as daily marketing & branding, IT costs, professional photography, payroll, business insurance, and much
more. Yet we firmly
maintained our valued-based pricing methodology since our early inception in 1999,
because we all agreed that that is what made our company a success. It was the
premise by which we were founded.
Today, we maintain
an average of 50% below retail markup on our jewelry. You can say our prices are
“half-keystone”. |
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No
Compromise
Despite all of this,
it is our firm belief not to compromise the quality or the fine selection of the unique and
fashionable jewelry that we carry. We offer the same quality
jewelry—and in some cases, higher quality jewelry—than traditional
jewelry stores.
The difference is
the price … |
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