Pricing a .75 ct diamond---retail vs. wholesale...HELP!

[bobjinx]

Hi all,

I''m a petrified diamond buyer. I''ve heard the 2 months salary deal, and I''m not sure if I buy it. Total, I was hoping not to spend more than $5000 on the diamond and setting. Currently, I''m scoping in the .75 ct range. I have a price on a diamond that is E color, .78 ct, SI1....$5300 discounted 25% to me to be $4250. With setting a tax, I''m looking at a $6000 ring. It''s GIA certified, no ideal ratings---an excellent and very good, I believe.

I look at all these internet sites, and I see that my diamond is costing a good amount more than what bluenile and other sites are telling me. I''m going to go retail, so I just want to make sure I''m not being completely ripped off.

To get my total in the $5000 range, I''d like to stay above .70 ct and have an SI1 rating. Can I maneuver in ct size and color to get a nice diamond under $3500?

Your thoughts would be much appreciated!

Thanks.

 

[belle]

you can use the ''pricescope your diamond'' search box above to see what different sizes/color/clarity..etc.. would cost.

 

[bobjinx]

Right, so when I use price scope, the diamond I''m currently getting discounted 25% for $4250 (quoted $5300) comes up at about $3000 when I enter E color, SI1, .78 pt.

Is retail $1000 more? This is partly my question. I want to know if I''m getting a fair shake to begin with.

 

[aljdewey]

Date: 6/20/2006 9:49:46 AM
Author:bobjinx
Hi all,

I''m a petrified diamond buyer. I''ve heard the 2 months salary deal, and I''m not sure if I buy it. Total, I was hoping not to spend more than $5000 on the diamond and setting. Currently, I''m scoping in the .75 ct range. I have a price on a diamond that is E color, .78 ct, SI1....$5300 discounted 25% to me to be $4250. With setting a tax, I''m looking at a $6000 ring. It''s GIA certified, no ideal ratings---an excellent and very good, I believe.

I look at all these internet sites, and I see that my diamond is costing a good amount more than what bluenile and other sites are telling me. I''m going to go retail, so I just want to make sure I''m not being completely ripped off.

To get my total in the $5000 range, I''d like to stay above .70 ct and have an SI1 rating. Can I maneuver in ct size and color to get a nice diamond under $3500?

Your thoughts would be much appreciated!

Thanks.

Yes, you can......by dropping the color a bit.

Here are a few options:

.756, G SI1 H&A (aca) for $2992

.818, G, VS2 H&A (aca) for $3558

.78 G, VS2 for $3335 from Winfields (www.winfields.com)

 

[belle]

Date: 6/20/2006 10:10:53 AM
Author: bobjinx
Right, so when I use price scope, the diamond I''m currently getting discounted 25% for $4250 (quoted $5300) comes up at about $3000 when I enter E color, SI1, .78 pt.

Is retail $1000 more? This is partly my question. I want to know if I''m getting a fair shake to begin with.

in this case retail is 1k more

pricing is different everywhere. operating costs and locale can make a big difference in markup. only you can decide whether or not you think what you are paying is ''fair''.

i can get better diamonds online than i can locally so for me, there is no way i would pay that kind of markup. everyone has to make theird own decision as to what is best for them and what they feel is fair.

 

[bobjinx]

Thanks for all your recommendations thus far. All help is greatly appreciated! In the end, I''m not likely to be getting a loose diamond from website...or maybe you could all persuade me to. I just want to know if my current price of $4250 is outrageous for retail.

Maneuvering in color, is there a good deal of difference from an E to a G? Nearly all the diamonds I''ve seen so far have been E.

 

[bobjinx]

in this case retail is 1k more

pricing is different everywhere. operating costs and locale can make a big difference in markup. only you can decide whether or not you think what you are paying is ''fair''.


i can get better diamonds online than i can locally so for me, there is no way i would pay that kind of markup. everyone has to make theird own decision as to what is best for them and what they feel is fair.

Do you just trust these online places? I can''t imagine buying a diamond without seeing it. I guess I don''t know enough about the stats. The locale is Harvard Sq in Cambridge, MA, so I''m sure the rent isn''t cheap. But it must be comparable to everywhere else around Boston (where I live). I guess if I could get a gauge on how diamonds typically price in retail (high and low), I would have more piece of mind. I don''t get the impression that I''m being swindled, I''m just sick about the cost.

 

[bmathews]

bob-

Although I am also new to the diamond buying experience I will let you know that I have no problem buying from "these online places" many of these places such as whiteflash and goodoldgold provide pictures of the actual diamond, idealscope pictures, the gia or ags reports as well as much more information on the diamonds. From what I can tell whiteflash is the top place to buy from here if you are talking reputation. Its not to say you are getting ripped off by a B&M but they have mmuch more overhead as well as the fact that they usually have a higher initial markup as well.

I suggest you read some reviews of online pruchasing and you will see that it is just as safe if not safer than B&M stores.

 

[belle]

Date: 6/20/2006 10:36:38 AM
Author: bobjinx


Do you just trust these online places? I can''t imagine buying a diamond without seeing it. I guess I don''t know enough about the stats.

i don''t just trust *any* online places. i do trust the ones most recommended on this forum. i have made several (sight unseen) purchases from www.whiteflash.com and absolutely trust them completely. as far as the stats, all of the ''in house'' diamonds that you find using the search tool above will be better than most anything you will find in the run of the mill brick and mortar store. the vendors here specialize in well cut stones. they don''t have the benefit of bright jewelry store lights to woo you into a sale. they sell top quality diamonds that you will not want to send back. they all offer no hassel returns but for the most part, you shouldn''t need it.

Date: 6/20/2006 10:36:38 AM
Author: bobjinx

The locale is Harvard Sq in Cambridge, MA, so I''m sure the rent isn''t cheap. But it must be comparable to everywhere else around Boston (where I live). I guess if I could get a gauge on how diamonds typically price in retail (high and low), I would have more piece of mind. I don''t get the impression that I''m being swindled, I''m just sick about the cost.

have you looked at many different stores in the area? that would be a better way to get an idea of what you can expect price wise for your location.

 

[bobjinx]

Again, thank you all so much for your help! I''ve gotten diamonds priced in a couple of places, but both fairly close to the city, and both the same price point. I felt good about it, until I started to look at these online places.

I guess I could just drive around a do some "fake interest" buys at a handful of stores. There''s not immediate need. If I tell the nice women I''ve been working with in at my current jeweler that I need a little more time, I''m fairly confident the offer will be still on the table. I''m really going with them because they have a band I like.

Its hard, because I''m trying to suprise my girlfriend of 6 years, and we normally do everything together. Whenever I try to sneak out, she seems suspcious, because its a little out of the ordinary.

Would it be correct to assume that most jewelers are fairly friendly about setting a diamond that isn''t you bring to them. I''ll do more research on these online places.

 

[froufrou]

i went to a B&M jeweler w/ overhead and they quoted me $3,000 for a .72 ct round AGS 000 Ideal G color with the plain white gold solitaire band included.

however later i found a better deal on Bluenile and UnionDiamond and did that instead.

if you come in with a PS sheet showing how much for you could get it at online they would probably bring the price down a little.

Also i feel like i can trust the online companies better than the local jewelers because the local jeweler tried to pull a trick on me, setting a completely different worse diamond than the one we agreed on and trying to sell it to me.

$1000 markup is a lot. also consider that internet stores have some kind of markup also, so its really even more than $1000 from the price they are getting it from their dealer.

I wouldn''t hesitate to buy online, but sometimes local jewelers have problems setting something not bought from their diamond and he would probably mark up the price of the setting a lot if you tried that way.

 

[aljdewey]

Date: 6/20/2006 10:30:16 AM
Author: bobjinx

Thanks for all your recommendations thus far. All help is greatly appreciated! In the end, I''m not likely to be getting a loose diamond from website...or maybe you could all persuade me to. I just want to know if my current price of $4250 is outrageous for retail.

Maneuvering in color, is there a good deal of difference from an E to a G? Nearly all the diamonds I''ve seen so far have been E.

For most folks, there is absolutely no discernable difference between an E and a G when either is set.......except for the impact on your wallet.

As far as what you''re likely to do and persuading you to do something different......it''s really not a matter of persuading you. No one here should do that. Only *you* can decide what you''re comfortable with, and what you''re willing to consider to meet a more comfortable price point. You have to evaluate if paying the premium to stay local is more comfortable for you than going online. That answer varies with every individual and there is no one right solution for everyone.

Date: 6/20/2006 10:30:16 AM
Author: bobjinx

Do you just trust these online places? I can''t imagine buying a diamond without seeing it. I guess I don''t know enough about the stats.

For my part, when I first bought from them? No, I didn''t "just trust them". I trusted two things---my homework and the return policies.

I did my homework, both here and through my conversations with the vendors, so I felt educated and confident. I was especially confident knowing I could return something for a full refund if I didn''t like it. To me, that made it a no-risk proposition.

I personally felt there was more risk in overpaying by not having enough documentation locally to stone-cold KNOW what I was buying and its worth. But that''s me.

Lastly, you can see a diamond from an online vendor before you buy it if that''s paramount to you. Select a vendor who is willing to ship the stone to an appraiser in your area. You can go see it and either agree to purchase it or have him ship it back. If you elect not to purchase it, you pay for the shipping both ways ($50-100???), but it''s still less expensive than paying a $1k premium.

 

[codex57]

You do have to watch out for B&M stores setting a stone bought elsewhere. Not all will do it and those that do may jack up the price of the setting. Some won''t add anything extra at all. It really all depends on the individual store.

 

[bobjinx]

Thanks once more for everyone''s responses. I''m gonna think a little about the online option. The jeweler I''m dealing with right now is helping me customize my band, setting, and sizing the ring for free. So, they''ve been particularly good about that---in addition to the 25% off whatever their markup is. I kind of just want to get to ring at this point so I can propose, and they''ve told me they can have it in a week. I''ll probably tinker with the ct size and color to get it within a price range that I can swallow a little more easily.

I think if I brought in a loose diamond, they would start charging for all these things I''m getting for free.

I liked the advice of checking a handful of other jewelers to gauge my local price a little better.

 

[Professor]

As someone who just started going to Pricescope a month ago, I think online stores are the way to go... if you do your research. I just reserved a 1.06 I SI2 diamond on GoodOldGold.com that was cheaper (remember you save sales tax) than any diamond with a reasonable cut in my area. I believe the best I got was a .91 Ideal cut D SI2 for over 1000 dollars more in a Brick and Mortar store. I was able to send a relative over to the GOG store in order to check it out first hand, but that was after I was set on the stone anyway.

Long story short, online saves you a LOT of money and/or will get you a bigger stone. If anything, make sure you check the HCA Cut Adviser on any stone you get, because most of what the B&M mall stores were showing me was crap.

Date: 6/20/2006 1:08:56 PM
Author: bobjinx
Thanks once more for everyone''s responses. I''m gonna think a little about the online option. The jeweler I''m dealing with right now is helping me customize my band, setting, and sizing the ring for free. So, they''ve been particularly good about that---in addition to the 25% off whatever their markup is. I kind of just want to get to ring at this point so I can propose, and they''ve told me they can have it in a week. I''ll probably tinker with the ct size and color to get it within a price range that I can swallow a little more easily.


I think if I brought in a loose diamond, they would start charging for all these things I''m getting for free.


I liked the advice of checking a handful of other jewelers to gauge my local price a little better.

 

[jaz464]

You know, you don''t have to get an online diamond sight unseen. WF and others will send a diamond you like to an independent appraiser in your area so that you can see it in person. Then you can decide if you want to purchase it or not.