Re-tipping is simply building up the claws on your piece of jewellery to make stones secure and improve the overall look of the ring. People have usually heard of rings being re-tipped; this is because rings take more bumps and knocks than most pieces of jewellery.
The price of re-tipping is directly proportional to the number of claws to be built up. Remember that the claws keep the gemstone in place. Regular inspection and maintenance of your jewellery can save you the large sum of replacing a lost diamond, not to mention the impossible task of replacing an heirloom.