What are the payment terms for custom ring orders?

I'll be honest upfront: the payment terms for custom rings vary more than most clients expect, and the variation is usually a sign of how the shop operates. The good ones have a clear policy and explain it before you hand over a single cent.

The standard split

For a full custom piece - new stone, new mounting, hand-fabricated or cast from a 3D-printed resin - the most common structure is a 50% deposit to start, with the balance due when the piece is ready to ship or pick up. That deposit covers materials: the metal, the stone if I'm sourcing it, the casting fee, and the first few hours of labor. The balance covers finishing, setting, and final polish.

I've been working this way for about 22 years now. It's not arbitrary. A custom ring is six to ten weeks of labor between several hands. If I don't have a commitment from you upfront, I can't order the stone or buy the metal. That deposit is the commitment.

When the split changes

If you're providing the stone - an heirloom diamond, say, or a sapphire you bought loose - the deposit usually drops to one-third. I don't have to front the money for the most expensive part of the ring. Last spring a woman named Priya came in with her grandmother's old European cut, about 1.2 carats, slightly off-round. The deposit was 35% of the estimated total. Worked fine.

If you're doing a simple resize or a basic mounting swap - no custom design work - most jewelers ask for 100% at drop-off. That's fair. There's no design phase, no back-and-forth, no risk the client ghosts. Just labor and materials.

What a deposit actually covers

Stone sourcing. If I'm buying a center stone on your behalf, that money goes to the supplier. Nonrefundable once I've committed.
CAD or hand-carved wax model. About two to four hours of design time, depending on complexity. You get to see the model and request changes - usually two rounds of revisions included.
Metal and casting. Obvious but worth naming. The alloy, the casting house, the sprue removal.
Stone setting. Not always covered in the deposit - some shops bill setting as a separate line item at the end. Ask upfront.

The one term I refuse

Net 30 or net 60 on a custom ring. I've had clients ask, usually small-business owners who pay their vendors that way. A custom ring is not office supplies. I don't have thirty other customers whose invoices cover my cash flow while I wait for yours. The metal is bought, the stone is paid for, the casting house wants their money. I need yours before I ship the ring. Period.

What happens if you change your mind

This is where the policy matters most. A good jeweler will spell it out in writing. Here's mine:

If you cancel before I've bought the stone or cast the metal - during the design phase - you get a full refund minus a design fee. About $150 for a CAD model, $300 for a hand-carved wax.
If you cancel after I've sourced the stone and it's a unique piece - not a generic GIA round you could return to a wholesaler - the stone money is nonrefundable. You own the stone. I'll ship it to you.
If you cancel after casting, you own the metal. I'll finish it as a raw casting and ship it. You can have another setter finish the work.
If you hate the finished ring? That's rare, but it happens. I'll work with you on revisions. I won't remake the whole thing for free. You approved the model.

The snag I don't usually advertise: about one in twenty custom jobs has a moment where the client and I disagree on the final result. That's why I photograph every step and send updates. There should be no surprises.

Payment methods

Wire transfer or certified check for the deposit if the total is over $5,000. Credit card for smaller deposits - I eat the 2.9% because it's worth the peace of mind. Final balance is usually wire or check. I don't take credit cards for the final payment on a $15,000 ring. The fee is too high, and I don't want to raise prices to cover it.

Some clients have asked about payment plans. I don't offer formal financing, but I've stretched a timeline for a regular client or a compelling story. A waitress named Danielle wanted to upgrade her engagement ring on a server's schedule. We split it into three payments over four months. No interest, no contract. I did it because she'd been a repeat client and I trusted her.

What to ask your jeweler

Before you hand over a deposit, ask these three questions:

Is the deposit refundable at each stage of the process, and what's the stage you're at?
Do you charge for revisions after the second round?
What happens to my deposit if you make a mistake - wrong stone, wrong metal, wrong size?

If the jeweler answers without hedging, you're in good hands. If you get a vague "we'll work it out," get it in writing. I've seen too many clients burn a deposit on a ring they never saw, from a shop that wasn't honest about the terms. A clear policy isn't a sign of a good jeweler - it's a baseline. Without it, I'd walk.