Rising costs and prices

[Goldsmith]

I got a bit of a shock today, an old customer asked me to give him an insurance update price for replacing a table centrepiece that I made for him back in 2001. Luckily I keep records of costs on all of my jobs so I knew how much metal I had to buy and labour times. I had to make a few phone calls for updates on prices for the other craftsmen who helped me on this piece. What shocked me was that the cost for replacing this piece had increased by 425% on my original sale price. This reminded me why I am glad to be retired, buying gold nowadays would be a stress, to make this tablecentre piece I originally had to buy 2.1 Kilos of 18ct sheet and 4 Kilos of silver sheet. I worked out to cover costs I would now have to charge £36 per gram for 18ct. gold used.

James

[CJ57]

He's laughing all the way to the bank though James, that a good investment