Squirrel Spotting: The Case of the Pricey Repair
When it comes to pricing jewelry repairs, you should start by asking a simple question about the piece at hand, Peter Smith writes.
Ray was curious, conflicted even, about the inexact science of pricing repairs for the store’s customers.
As he explained it, he was constantly balancing competing interests each time he quoted a price for a repair.
There seemed to be a prevailing assumption that the customer always wanted the lowest price that could be offered.
The salespeople, more often than not, adopted the role of passionate advocates for the customer getting nothing less than the lowest price possible.
After all, they reasoned, the customer would surely consider them and the store in a poor light if the repair quote was perceived as too expensive.
On the other hand, and perhaps most poignantly, Ray believed that the customer’s best interests, and the store’s best interests, were better served by quoting a price that allowed the shop to deliver the finest repair possible.
Not the bare minimum, not the obligatory repair, but the absolute best job a craftsman could do.
That inherent conflict is, of course, not exclusive to quoting repairs. It is often true for special orders, for custom work, or for any of the many essentials that pepper our days in a typical retail environment.
In thinking about Ray’s pricing dilemma, it occurred to me that there are both practical and psychological factors at play.
We assume customers have a clear sense of what they should pay for repairs when, in fact, the opposite is often true. More often than not, a customer has absolutely no idea what a given repair should cost.
I recently engaged with an appliance repair man about what I perceived to be a small matter with my fridge and, when he let me know what was needed, I decided that it was time to invest in a new refrigerator, after 13 years of fine service.
I didn’t go into the conversation with the appliance repair guy with any awareness of what a repair should cost, and I didn’t immediately conclude that I was being “ripped off” when he listed the possible remedies and the costs of said repair.
The fridge conversation was very matter-of-fact. Certain things needed addressing, and if I wanted them done, it was going to cost me a few hundred dollars.
There was no emotional component to the conversation about my fridge, unless you count its devilment of being too accessible whenever I got even a hint of a craving … darn you to hell, fridge!
“Understanding what a given repair request really means is not a rationalization for overcharging the customer, but an indicator of the best course of action.” — Peter Smith
When it comes to jewelry repairs, believing the customer always expects the lowest price is to assume they have no emotional involvement with the piece in question.
We assume the exchange of payment for labor and materials is nothing more than pure economics just like my refrigerator, minus the edible goodies inside.
Mercifully that is not how the cookie crumbles, at least not every time.
There obviously are occasions when a customer must decide whether a given piece of jewelry matters enough to them to invest their hard-earned money in fixing it.
The condition of the piece may be such that the price of repair will determine whether they will have it fixed or return to whatever little drawer it was nestled in prior to the store visit.
More often than not, however, the jewelry in question is extremely meaningful to the customer. They have a strong emotional bond with the piece, whether it is an important family heirloom or otherwise.
It may have been something acquired or gifted that is imbued with meaning and symbolism. Its restoration might signal something much more profound than the sum total of labor hours and material costs.
Psychological research has definitively established that we place considerable value on things we already own, far beyond what any rational assessment by others might conclude. That means anything we currently own always will be worth more to us than things we have yet to acquire.
Understanding what a given repair request really means is not a rationalization for overcharging the customer, but an indicator of the best course of action.
If the sales or service person engages the customer and asks the right questions, they will have a better understanding of the customer’s emotional quotient.
Ask a simple question such as, “That’s a lovely ring. What’s its story?”
A discovery question like this will result in one of two outcomes.
The first suggests keeping the work a bare minimum, and the price consistent with a lesser effort and fewer materials. And a second option that demands a much higher level of deliverable at a very different price.
The two prices can be offered to the customer (we all love to have choices and control) with a necessary proviso and a strong recommendation.
“Look, we can do the repair for ‘x’ and it will get back to wearable condition. However, I fear that such a repair is a temporary fix and I worry you may have issues down the road.”
That solution might be just what the doctor ordered for the customer, and the qualifier about future issues will have been delivered as a necessary note of caution.
Depending on your conversation with the customer it might also warrant a very different recommendation, such as: “On the other hand, this is what we should do, and it will likely take care of those problems for years to come.
“It is your decision, but I would strongly recommend the second option as I want you to have the absolute best outcome when you pick your ring up next week. What would you like to do?”
If the customer has minimal emotional investment in the ring, they may choose the least expensive option, the bare minimum to make the ring wearable.
If, however, they have a strong emotional investment in their ring, they will want and expect the absolute best repair and restoration possible.
Do the work of engagement and discovery, stop spending from your own pocket, and remember, the very best value is always a satisfied customer.
Happy selling!
The Latest
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.