It is a good time to check the price tag engagement ring You have a bookmark for this special moment.
Together gold expenses Having reached a record height and gemstones more released from tariffs, jewelers must assess their price strategy to balance business costs and customer expectations.
The prices of gold points briefly exceeded $ 3,500 per ounce on Tuesday, which is sharply about $ 3,000 a month ago. Imported gemstones are now also subordinated President Donald Trump is wiped by “source tariffs” It came into effect on April 2.
“For the industry, it's really a double whammy,” Angara CEO and founder told Daga Business Insider.
The Daga company specializes in adapted direct consumers and said that the engagement rings make up more than a third of its company. Most of his production takes place in Thailand but Ankara has a US workshop where it ends items that include in the past Customs -free gemstonesTo.
In the case of a typical engagement ring, Daga said that about 80% of the costs are determined by a pearl, about 20% of the metal itself. For jewelry wedding bands, Metal is being run by Metal.
“If nothing changes, our complete adjustment must take both,” he said.
“People can't necessarily rush their engagements,” he added, “but you can buy the circle in advance.”
Bieta & Co. Audrey Yonkus, a jeweler and founder, said that gold prices have risen by more than $ 1,000 after he founded his jewelery business last summer. In July 2024, gold reached over $ 2,400 per ounce. In terms of engagement rings, customers are willing to pay more for their dream ring, he said.
“Whether gold reaches $ 5,000 to UNTSI, people want to be engaged and they still get engaging ring,” Yonkus said.
Daga said that rising prices are motivated by more people to buy, not to be discouraged – an observation reflected by Gabriel & Co. COFOUNDER Dominick Gabriel, who has been in business for 35 years.
“Even if prices rise, most consumers will not hold back,” Gabriel said. “In fact, they often double – they become even stronger in the value of gold and decide to invest more, seeing it as a smart and meaningful purchase.”
Bieta Yonkus told Bat that he was trying to work in the client's budget using an order business model, even if it pays the company the money he said.
Roen's founder Sherry Shi told bi that his company has already had to raise the price for most fine jewelry And the engagement rings due to gold prices. Shi said they were trying to keep growth of less than 15%, but their departure was sustainable, as they were in 2024.
“Many of us tried not to raise prices with gold, but it's a point where it was $ 2200 a year ago and now it's $ 3,500,” Shi said.
Fortunately, he said they ordered gems before tariffs – Although they have to rearrange the equipment after the equipment runs out.
Angara Daga also said that her company keeps about a month of gems that arrived before the start of the tariffs.
In other words, according to him, future engagements can expect that the total price increase will begin in June by 10% or more.
