Last week I did a quote for someone who remarked afterward that my quote was significantly more than when she received a quote from us for the same thing a couple of years ago. This sparked me to check my gold prices from 6 years ago to now. The biggest increase is from the end of Jan 2018 to the end of Jan 2020. In just 2 years the cost of 9ct yellow and 18ct yellow gold increased by more than 40%. This is just on the raw materials. Solders and many other raw materials ect also had a massive increase.
What does this mean for our Customers? Besides the obvious cost increase on raw materials to have new jewellery made and that the general upkeep and maintenance on jewelry has increased a lot over the last year, a major concern is that many Customers have not adjusted their replacement values with their Brokers in years!
If you have not checked or adjusted your insurance on your jewellery in the last 2 years I would recommend you come chat to us to get new insurance replacement certificates or check with your Insurance Broker what you need to have your jewellery fully covered.