Abstract: A jewelry setting/presetting tool for drilling countersink basins in jewelry and setting stones therein. The jewelry setting/presetting tool includes a bracket assembly including a board-like mounting bracket having an opening being disposed therethrough from a topside to a bottom side thereof; and also includes a tubular base member being secured in the opening of the board-like mounting bracket and having an open bottom end and an open top end; and further includes a work-piece support member being adjustably fastened in the tubular base member through the open bottom end thereof; also includes a tool support member being movably disposed in the tubular base member; and further includes a working tool assembly being securely and removably fastened to the tool support member; and also includes a means of moving the tool support member and the working tool assembly in the tubular base member.