| Mike,
Well its a bit of semantics. Buying for 1 and selling for 2 means you are marking up 50% given your cost. The profit margin and the markup are the same. Yes 2 is 100% more than 1 but we are talking about markup from cost and profit.
No question stores that offer 50-70% off are marking up more than keystone and sometimes I do to. Hell, Ross Simons, first and only store I ever worked in, was fired too, had a retail markup on the tag and a code that gave you "the best price" that was a specific percentage off.
Fact is stores have to meet expenses and make a profit. I go to the source, Bangkok, Nairobi, etc., and markup to a price below U.S. retail and still make a good profit. But, few retailers can or know how to do that. Also, I deal in very fine rare gems that allows me to avoid being"shopped" simply because you can't find what I have most other places. I also have to hang on to rare pieces, sometimes for years and that gets expensive but, if you deal in the rare its the price you have to be willing to pay. |