paying in cash

[dschmid]

can one expect a discount for paying up front in cash? especially if it is a larger purchace ($8-10K)? Thanks

 

[diamondseeker2006]

There is usually a discount for wiring money from your bank account to theirs. This usually runs 2-3% with most of the vendors around here.

 

[Venice]

I find that when I offer to pay cash instead of putting the payment on my credit card, the vendor almost always agrees to a discount. They have to pay a fee of maybe 3% for the credit. When I ordered my $11,000. Scott Kay engagement ring semi-mount and wedding ring, they gave me a discount of 20% and offered to pay the taxes on the purchase - a huge difference in price! I also got a discount for my diamond by paying in cash.

I find that it does not hurt to ask.

 

[denverappraiser]

Just a note about cash deals. If you do a deal for more thank $10k in cash, there’s an IRS/Homeland Security form that the jeweler is going to require you to fill out. Don’t take it personally, they’re required by law to do this.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Jewelry Appraisals in Denver

 

[Cyren]

Hate to say it, but, one advantage to paying with a credit card would be the ability to revoke the charges if something were to go drastically wrong.