Look Out - WalMart Now Sells $10,000 Diamonds

[kenny]

Be afraid.
Be very afraid.

Diamond vendors of the world:
Put your head between your legs and kiss your @ss good bye.

walmart

How can this be?
Have you seen the typical Wal Mart Shopper?

 

[cinnabar]

Wow, that is the shallowest diamond I have ever seen. It must have a depth of what, 10%?

 

[jcrow]

haven''t they been selling diamonds? a while ago (pre PS) i had heard that the number one seller of diamonds was wal-mart. that can''t be though?!

 

[Kaleigh]

Well, as my son would say, there goes the neighborhood. Let''s see how they do, what kind of cuts do they have, certs etc.... I''ll be damned if I would ever buy a diamond at WalMart, but then again the PS population is a tiny fraction of what the real world buys. Sad, but true.

 

[jcrow]

prelim research - according to businesswire oct. 2004- Wal-Mart Has Risen to Number One in Jewelry Retailing

 

[denverappraiser]

Walmart is a powerful force. They have been the #1 jeweler in the world for years and they are not to be taken lightly. If they decide that they want to move upmarket, they are fully capable of doing so. I’m a little surprised that they would describe IGI’s service as causing the ring to be ‘certified’ and they call the center stone both square cut and radiant cut within the body of the same advertisement, which strikes me as a bit amateurish.

Origin of components is USA. Really?

They don’t need to sell it to a typical customer. If they can sell one of these to a single customer per million they will be outselling Whiteflash and GOG combined. They are the Borg.

Resistance is futile.

Neil Beaty
GG(GIA) ISA NAJA
Professional Appraisals in Denver

 

[kenny]

How does that price sound?

 

[valeria101]

Date: 11/20/2005 9:28:20 PM
Author: cinnabar

Wow, that is the shallowest diamond I have ever seen. It must have a depth of what, 10%?

No... it is a composite picture and someone forgot to fill in the pavilion. There's plenty of crude drafts like this on Ebay and the like. It is an easy mistake to make

 

[strmrdr]

costco has sold more than one $100000.00+ diamond so if they can do that there is no reason wally world cant move $10k diamonds.

 

[Daniel B]

Date: 11/20/2005 9:28:20 PM
Author: cinnabar
Wow, that is the shallowest diamond I have ever seen. It must have a depth of what, 10%?

LOL!!!!

 

[Kit]

Just in case anyone happens upon this post and jumps at the idea of buying a stone from Walmart, thinking they will be saving big $$, please inform yourself of what you are supporting when you purchase anything from them: http://walmartwatch.com/. Thanks!

 

[VuittonGal]

Maybe I''m just a snob, but, um, I can''t imagine spending $10k on a diamond from Wal-Mart.

Can you imagine? "Attention Wal-Mart shoppers, we have a $10k diamond ring in our jewelry department!" I can''t see many Wal-Mart shoppers being attracted to such an item.

LOL...That''s just insanity.

 

[ello]

I really hope my engagement ring is not from WMart one day!
But hey - someone must have suggested it to them so there must be a market for Wal-Mart diamond shoppers...scary!

 

[kenny]

Wow. They even got the New York Times buzzing.

snip
Companies can only misfire by selling items that are not related to their overall brand message, Mr. Schubart said. In that context, Walmart.com should be fine as long as it convinces customers that a $10,000 ring is a bargain. (Indeed, late last week, the ring was sold out, although Walmart.com did not say how many were offered.)


ny times


Amazing, they were sold out last week!
And cashmere scarves from Wal Mart?

Kit
Thanks for the link.
(I won't shop there.)

 

[Mara]

hehehe....i am a snob because i have only been to a walmart once in my whole life and never felt the need to return. i wouldn''t even buy a water from them nevertheless a $10k diamond. but they do have a HUGE following!!!

i like being a niche market !

 

[movie zombie]

good reminder, kit!

btw, walmart hasn''t had the growth they used to have and have identified a group that they want to entice into their stores....offering higher priced, and one assumes higher quality, diamonds than they previously offered could be one way to expand their consumer base and get another consumer demographic into their stores.

peace, movie zombie

 

[moremoremore]

Interesting Kenny! Although I checked their site, and for 1 ct tcw studs, I can just go to GOG who has a couple of nice pairs at the same price and MUCH better quality I'm absolutely sure (although I want those 1.4 F I1s on GOG

).... I don't have any pride....I'd go diggin in a garbage can if you told me their are great diamonds at a great price at the bottom LOL

 

[cinnabar]

Date: 11/21/2005 4:33:58 AM
Author: Kit
Just in case anyone happens upon this post and jumps at the idea of buying a stone from Walmart, thinking they will be saving big $$, please inform yourself of what you are supporting when you purchase anything from them: http://walmartwatch.com/. Thanks!

Walmart took over one of the largest UK supermarket chains, ASDA, several years ago. I had a friend whose husband worked in ASDA''s IT department. He said that Walmart insisted that everything be changed to the Walmart way of doing it. The ASDA way of doing it had been working perfectly, they had stock control that was tight and effective, and all the software had been tweaked so it did just what they wanted it to do. Walmart came along and threw out all the stuff that made sense, and insisted on implementing business plans and software that were stupid and could only have been less effective if they''d been designed by first graders.

My friend''s huband handed in his notice; although the money was good, the company ethics didn''t make it worthwhile to him.

 

[lmurden]

Date: 11/21/2005 12:29:06 PM
Author: Mara
hehehe....i am a snob because i have only been to a walmart once in my whole life and never felt the need to return. i wouldn''t even buy a water from them nevertheless a $10k diamond. but they do have a HUGE following!!!

i like being a niche market !

Good, stay away from Walmart!

 

[platinumrock]

I am always on the hunt for bargains and good deals. I don''t believe in paying retail, because products are never worth what they are sold. Just because you buy something at the mall or a high-end retailer doesn''t mean you get better products. You are basically paying extra for the exlusive atmosphere and the type of crowd you want to deal with (or avoid). Walmart and Ross have high mark-downs on their products, so they offer competitive prices. Unfortunately, they also attract riff-raff and undesirables in their store.

I can understand why people put down Walmart. They may have had a bad shopping experience in a previous life. Or they simply have this "holier-than-thou" attitude about the store and the shoppers. When I want the basics and I''m on a budget, I go to Walmart. Does that mean I''m low class and ghetto because I shop there? No. Does that mean their products are defective and low quality because they''re cheaper? No. They are simply a huge, corporate, global chain that is dominating the market. When they control the market, they also control the prices and supply. It also helps that they wipe out local mom and pop vendors.

People can say all they want about Walmart, but as a consumer, I am definitely at a benefit. They are everywhere (convenient), they have great bargains (savings for me) and they have the best return policy.

 

[princessv]

Hrm. I wonder if Walmart''s return policy (as in they take EVERYTHING back they sell) applies to those 10k diamond rings as well. It''d be pretty funny if it did...lol.

 

[platinumrock]

Heheee...they probably do. $10,000 is chump change compared to what Walmart profits on a daily basis. Just stand in line, tell costumer service that the ring is "not what you expected" and your account will be credited. I think you have like 90 days to return it. I''d be sporting that ring for three months and then get my refund.

 

[Mara]

Date: 11/21/2005 7:47:08 PM
Author: platinumrock
I am always on the hunt for bargains and good deals. I don''t believe in paying retail, because products are never worth what they are sold. Just because you buy something at the mall or a high-end retailer doesn''t mean you get better products. You are basically paying extra for the exlusive atmosphere and the type of crowd you want to deal with (or avoid). Walmart and Ross have high mark-downs on their products, so they offer competitive prices. Unfortunately, they also attract riff-raff and undesirables in their store.

I can understand why people put down Walmart. They may have had a bad shopping experience in a previous life. Or they simply have this ''holier-than-thou'' attitude about the store and the shoppers. When I want the basics and I''m on a budget, I go to Walmart. Does that mean I''m low class and ghetto because I shop there? No. Does that mean their products are defective and low quality because they''re cheaper? No. They are simply a huge, corporate, global chain that is dominating the market. When they control the market, they also control the prices and supply. It also helps that they wipe out local mom and pop vendors.

People can say all they want about Walmart, but as a consumer, I am definitely at a benefit. They are everywhere (convenient), they have great bargains (savings for me) and they have the best return policy.

I''m always on the hunt for bargains too, I don''t believe in paying retail but I also don''t believe that the cheapest price is always the best deal...there are a few qualifiers that I require first. Just like high pricing does not mean quality, low pricing does not mean best deal at all times.

Personally for me I like brand name items at low prices. The best of all worlds. To me, Ross and Walmart are totally different, Ross actually sells brand name items that you are familiar with but at discount pricing.That is the way I prefer to shop...the discount stores where you may have to weed through something but you end up with something that IS quality and for a low price. With Walmart and even Costco sometimes if you don''t recognize the brand then who knows what you are getting...aka my experience with bad Target clothing..never again. I do much of my clothes shopping at the local Loehmanns where they have top high end retail name brands that I buy at Nordstroms, but at huge discounts...I love it.

 

[Kit]

Date: 11/21/2005 7:47:08 PM
Author: platinumrock
People can say all they want about Walmart, but as a consumer, I am definitely at a benefit. They are everywhere (convenient), they have great bargains (savings for me) and they have the best return policy.

Okay, I had to jump back in here. The problem with Walmart has nothing to do with being a snob, or being trashy, or any of that stuff. The issue is this: the reason things cost so little there is because 1) Walmart does not pay its employees a living wage 2) Walmart exploits workers in developing countries - and China - where garment workers (almost all WOMEN) are paid pennies a day in sweatshops and their human rights are severely violated. They are the largest of their kind, and they have incredible buying power, forcing prices down. Their employees here in the States are using literally billions of dollars in public services like Medicaid, food stamps and housing vouchers becuase they are living in poverty. Walmart is facing a gender discrimination class action suit as well for discriminating against their female employees. They are also guilty of forcing their workers to work overtime without pay. Not to mention when then open a location in a community all the local businesses are put out, which ruins the local economy AND localities offer Walmart subsidies to build there. Plus they have been fined millions of dollars in environmental violations. It is really just horrifying the way they operate, in my opinion. They are a multi-gagillion dollar company and they should really operate at a higher standard.

I understand in some areas of the country Walmart is all that is available for shopping, in this case it is too bad, because when you patronize that store you supporting a whole lotta bad in this world. I know they offer a great savings, but at what cost to their employees, to our environment, to our economy?

Okay I am getting off my high horse now.

 

[platinumrock]

Date: 11/21/2005 8:46:33 PM
Author: Mara

Date: 11/21/2005 7:47:08 PM
Author: platinumrock
I am always on the hunt for bargains and good deals. I don''t believe in paying retail, because products are never worth what they are sold. Just because you buy something at the mall or a high-end retailer doesn''t mean you get better products. You are basically paying extra for the exlusive atmosphere and the type of crowd you want to deal with (or avoid). Walmart and Ross have high mark-downs on their products, so they offer competitive prices. Unfortunately, they also attract riff-raff and undesirables in their store.

I can understand why people put down Walmart. They may have had a bad shopping experience in a previous life. Or they simply have this ''holier-than-thou'' attitude about the store and the shoppers. When I want the basics and I''m on a budget, I go to Walmart. Does that mean I''m low class and ghetto because I shop there? No. Does that mean their products are defective and low quality because they''re cheaper? No. They are simply a huge, corporate, global chain that is dominating the market. When they control the market, they also control the prices and supply. It also helps that they wipe out local mom and pop vendors.

People can say all they want about Walmart, but as a consumer, I am definitely at a benefit. They are everywhere (convenient), they have great bargains (savings for me) and they have the best return policy.

I''m always on the hunt for bargains too, I don''t believe in paying retail but I also don''t believe that the cheapest price is always the best deal...there are a few qualifiers that I require first. Just like high pricing does not mean quality, low pricing does not mean best deal at all times.

Personally for me I like brand name items at low prices. The best of all worlds. To me, Ross and Walmart are totally different, Ross actually sells brand name items that you are familiar with but at discount pricing.That is the way I prefer to shop...the discount stores where you may have to weed through something but you end up with something that IS quality and for a low price. With Walmart and even Costco sometimes if you don''t recognize the brand then who knows what you are getting...aka my experience with bad Target clothing..never again. I do much of my clothes shopping at the local Loehmanns where they have top high end retail name brands that I buy at Nordstroms, but at huge discounts...I love it.

LOL...I think there''s something about a store that sells food, clothes and diamonds all at once that disturbs people. I''m not as focused on the brand name, but I do appreciate quality. Quality at a bargain price

When it comes to things that matter, the extra money is worth it for a quality product and service. Especially things like purses, make-up, hair products, hair color/cut, clothes and shoes. But for disposable items (toilletries, OTC medicine, household cleaners/deodorizers, snacks, household items, etc.), Walmart has the best prices in my experience so far.

I''ve found some great bargains at Ross as well, but they attract riff-raff like Walmart. I can usually go shopping all day. But within two hours at Walmart and Ross, I need to leave before I kill someone with my cart

Sighhh...I guess that comes with the territory. Is there a Loemanns in Florida?

 

[gailrmv]

Mara, you are a woman after my own heart. I LOVE Loehmans and have scored many wonderful bargains on amazing merchandise there, and have never had a bad experience. For me it is all about the value - getting what I want at the lowest price possible. Occasionally, it is worth it to me to pay full price to get exactly what I want if it cannot be had for less (like my new Vatche setting)! Other times, I''m willing to compromise a bit to get a better deal. It all depends. I don''t mind Walmart or Target for certain things, but don''t enjoy the shopping experience. I also like to support local stores when I can, although I am not willing to WAY overpay in order to do it. A perfect example, I was thrilled when my local B&M jewelry store (with an excellent reputation, where I have had good experiences in the past) was willing to match WF''s price on the Vatche to get my business.
This is a bit rambly. Interesting thread.

 

[ChargerGrrl]

Date: 11/21/2005 7:47:08 PM
Author: platinumrock
I am always on the hunt for bargains and good deals. I don''t believe in paying retail, because products are never worth what they are sold. Just because you buy something at the mall or a high-end retailer doesn''t mean you get better products. You are basically paying extra for the exlusive atmosphere and the type of crowd you want to deal with (or avoid). Walmart and Ross have high mark-downs on their products, so they offer competitive prices. Unfortunately, they also attract riff-raff and undesirables in their store.

I can understand why people put down Walmart. They may have had a bad shopping experience in a previous life. Or they simply have this ''holier-than-thou'' attitude about the store and the shoppers. When I want the basics and I''m on a budget, I go to Walmart. Does that mean I''m low class and ghetto because I shop there? No. Does that mean their products are defective and low quality because they''re cheaper? No. They are simply a huge, corporate, global chain that is dominating the market. When they control the market, they also control the prices and supply. It also helps that they wipe out local mom and pop vendors.

People can say all they want about Walmart, but as a consumer, I am definitely at a benefit. They are everywhere (convenient), they have great bargains (savings for me) and they have the best return policy.

The closest Wallmart to me is about 10 miles away- not convenient. It''s all about geography. Wallmart flourishes in certain parts of the country, and not in others.

I''ll stick to the Target down the road.

 

[Madam Bijoux]

Rule Number One:
Never shop at a place whose last name is "mart".

 

[glitterata]

I second what Kit said:

The problem with Walmart has nothing to do with being a snob, or being trashy, or any of that stuff. The issue is this: the reason things cost so little there is because 1) Walmart does not pay its employees a living wage 2) Walmart exploits workers in developing countries - and China - where garment workers (almost all WOMEN) are paid pennies a day in sweatshops and their human rights are severely violated.

 

[UCLABelle]

I wrote a college paper during my undergrad a few years ago about Wal Mart. I can''t remember all of the statistics but there are many many pros and cons about Wal Mart that often go unnoticed. Perhaps the wages are low...but they do provide jobs in areas that typically have very few. Sure, they put out mom and pop shops...but capitalism allows this. Is it all Wal Mart''s fault for capitalizing?

I am really not picking sides...but it is always easier to point fingers at a corporation that is global than it is to point fingers at smaller, less-known companies/shops. Everyone has a right to shop wherever he or she likes. If you believe that the workers overseas would be better off with no job than a poor paying, but still paying, job...then don''t support Wal-Mart.