RSP - Retail Selling Price
On most of our jewellery pages we quote "RSP" or "SRP".
This page is here to explain what we mean by it, how we arrive at the figures, and more.
We start out with by expanding the abbreviations we use:-
SRP = Suggested Retail Price
RSP = Retail Selling Price or Recommended Selling Price
RRP = Recommended Retail Price
MRRP = Manufacturer's Recommended Retail Price
SRRP = Supplier's Recommended Retail Price
They All Mean the Same
All the above expressions mean more or less the same thing.
Open to Abuse
Unfortunately they are all subject to possible abuse. It is not unknown for some manufacturers to quote inflated prices for their products to make them appear more valuable and to create the illusion that the consumer is getting a better deal than from a competitor's product.
How Accurate are Chard's RSP's?
When we apply them to jewellery, we apply the same standards that we apply to jewellery valuations. We try to be completely objective about the valuations we perform whether they are insurance replacement valuations for customers or for our own products. The value we arrive at is intended to be a typical retail price for the article with due regard for its quality and the type of store which would sell that type of item. If anything we tend to be slightly conservative in our valuation figures.
Chard Club Prices
The Chard Club prices we quote are our "Cash & Carry" selling prices. We explain elsewhere on our site how we manage to offer such remarkable value, but we will reiterate it briefly here.
- We are not in a prime "High Street" location paying vast rent and rates.
- We design and make our own range of diamond rings.
- We work on lower margins than most retail jewellery stores.
- We don't currently accept credit cards, and pass the saving of about 3% on to our customers.
- We don't include presentation boxes or gift wrapping in our prices, although we can supply these for an extra charge if required.
- The jewellery products we don't make ourselves are competitively sourced.
- We pay our suppliers promptly and collect settlement discounts which are passed on to our customers.
- By dealing mail order we can supply a larger customer base.
- We do not add anything to our prices to allow for cash discounts as all our prices are already calculated on a cash basis.
- We do not spend large amounts on advertising.
Although we prefer not to consider ourselves as a discount jeweller, and would prefer that our jewellery sold because of its design quality and value, the fact is that our jewellery is generally lower in price than our High Street competitors. The exact percentages vary, and we cannot guarantee every price individually, but generally our prices are lower by these amounts:
|Diamond Rings||30% to 40%|
|Gold Jewellery||25% to 40%|
|Wedding Rings||30% to 50%|
|Platinum Jewellery||20% to 50%|