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Why Jewelry Repairs Cost More Than They Used To
If your last jewelry repair quote made you do a double-take, you're not imagining things. Repair prices have gone up, and there isn't just one reason why.
The cost of precious metals has changed dramatically, skilled labor costs more, and the overall cost of doing business continues to rise. Here's a closer look at what's happening behind the scenes and why it affects the price of your jewelry repair.
How Unpredictable Gold Prices Impact Repair Costs
Looking back about 10 years puts the change in perspective. In 2016, gold was relatively stable at around $1,250 an ounce. By 2023, it had climbed to roughly $1,950. Since then, prices have spiked, reaching more than $5,500 at the beginning of 2026.
This year alone has been a wild ride, with gold peaking above $5,500 in January and moving between roughly $4,000 and $5,000 since. If you see us wearing neck braces, you'll know why.
That volatility matters because precious metals are part of many jewelry repairs. Solder, replacement shanks, prong tips, clasps, heads, findings, and stock gold all come at a cost. When the price of gold can change significantly in a short period of time, pricing those repairs becomes more challenging.
It's not only about what gold costs today. Jewelers also have to account for what those same materials may cost to replace tomorrow.
Why a Job Well Done Costs More
A jewelry repair isn't just materials. You're also paying for the person doing the work.
Bench jewelers are skilled tradespeople, and fewer new jewelers are entering the trade. Like other skilled professions, wages have risen along with the cost of living.
For more than 20 years, we've done our best to adjust employee pay as those costs increase. When you're trusting someone with an engagement ring, heirloom, or another meaningful piece of jewelry, you're paying for steady hands, years of experience, creativity, and expertise.
That skill is an important part of the repair price.
Economic Uncertainty Tips the Scales
Inflation, the rising cost of living, geopolitical conflicts, national debt, and lower consumer confidence all create uncertainty for businesses.
For a small business, that means being more cautious about costs and pricing. We have to make sure the prices we charge cover what it actually costs to perform the work while allowing us to continue operating, paying our team fairly, and serving our customers.
What Does This Mean for Your Jewelry Repair?
A higher repair quote doesn't necessarily mean you're being overcharged. The metal, materials, labor, and expenses behind that repair have all become more costly.
We know a ring sizing or repair may cost noticeably more than it did just a few years ago, and we're very aware of what that means for our customers. We work hard to balance those costs while still doing the quality of work we believe your jewelry deserves.
A few things can help:
Ask about the price. If a repair costs more than you expected, ask us why. A good jeweler should be willing to explain what the repair involves and what goes into the quote.
Work with a local jeweler who is invested in the community. Local jewelers build their businesses on relationships and trust. We live and work alongside the people we serve, and our reputation depends on taking care of our customers, their families, friends, and neighbors.
Consider using old gold toward the cost. If you have broken or unworn gold jewelry sitting around, you may be able to trade it in and apply the value toward your repair. At K. Hollis, we offer a fair value for gold trades and even offer a bonus when that value is applied toward a repair or purchase.
Gold prices and economic conditions will continue to change. What shouldn't change is having someone you trust working on your jewelry.
A repair done correctly by an experienced jeweler is an investment in keeping the pieces you love wearable and in good condition. And when something needs attention again, you'll know exactly where to bring it.
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