Richard Homer price increase

[Kay]

I''m so bummed. I have been thinking about buying a Richard Homer stone because his designs are so beautiful. I have been looking at 3 stones on his website for a while, but didn''t jump on any of them because I was not sure how I would set them (based on size and shape). I went to have another peek this morning, and noticed each had risen about 20% in price. Tonight, I noticed he has posted a note on his website regarding the price increase. It''s a bit confusing though, because the note says he is keeping prices down through the end of December, but they have already increased. Does this mean they will go up a second time in January?

From the website:

Dear Patrons:

I have long striven to not only offer my clients a superior design and cut in the gems I offer on my website, but also, to present a superior VALUE. That remains true today and it will always be so. Nonetheless, many of the gemstones on my website are priced significantly below market value and cannot be replaced at the prices I am offering them.

In order to continue my business of offering such superior gems, I must raise my prices to more properly reflect their appropriate place in today''s marketplace while still providing a great value. So the good news is that I am not leaving this unique business and that I will always be able to offer a superior value and beauty in the gems I present.....the best news being that THROUGH THE END OF DECEMBER 2009, I will continue to hold the pricing of my designer gems at this irreplaceable level based on gem rough purchased years ago!

So, for those of you waiting and wanting to own a piece of my gem art, there is no time like the present and no greater opportunity for a huge savings and value! The website pricing will hold on all gems for which the transaction process has begun by December 31, 2009.

Best wishes to all for a happy and fulfilling Holiday Season!

Richard P. Homer

 

[FrekeChild]

Good thing I don''t like concave faceting!

 

[arjunajane]

TBH, I already found Richards' prices on average quite a bit higher than the other cutters, even the "premium" ones.
I guess this means I won't be purchasing either *shrugs*

I'm sorry Kay that you are disappointed - but there are many other cutters who offer great value! Gene is also a good concave facetor, if that is what you're after..

 

[FrekeChild]

Date: 12/10/2009 3:05:47 AM
Author: arjunajane
TBH, I already found Richards' prices on average quite a bit higher than the other cutters, even the 'premium' ones.
I guess this means I won't be purchasing either *shrugs*

I'm sorry Kay that you are disappointed - but there are many other cutters who offer great value! Gene is also a good concave facetor, if that is what you're after..

Ditto. I love his snowflake topazes, but I can't justify spending $800 on an irradiated blue topaz, even if it is 20cts and has a fabulous cut. I can buy the same size topaz at my local store for $50...won't have the faceting, but as I said before, not a big fan of concave. But that's a $750 price tag for just the faceting...

If you were considering it before, perhaps now is the time to buy Kay!

 

[LtlFirecracker]

He raised the prices of his stones shortly after I bought mine in March. I remember thinking it was all in my head, but than I pulled up a quotes he gave me and there was a $200-$500 dollar pice difference. The only reason I was able to afford the spess was because he gave me a nice discount because the website was so hard to use.

But he can charge whatever he wants, its his product. I just won''t be able to buy from him again, and I am sure I am not the only one.

 

[Liane]

Date: 12/10/2009 2:55:33 AM
Author: FrekeChild
Good thing I don''t like concave faceting!

x2.

 

[chrono]

I don’t get it. He bought those rough a long time ago when the price of rough was lower. He’s also already invested time into cutting it months ago. So why the price increase on old stock? I can understand a price increase in the newer stuff he purchased but not for the price of stuff that has been sitting around in his inventory for the past few months/weeks.

 

[AustenNut]

Wow. I just went through to look at some of his pricing again, and boy have some of the prices increased. Some of the pink sapphare is now around $7000/ct! My chances of getting a Richard Homer gem are now pretty much nonexistent, unless a used one because available.

 

[arjunajane]

I''m with you C, not sure I get it. In this time of sales, bargains and budgets, if RH feels he can increase prices like this and sustain customer traffic, more power to him.
But honestly, I feel these increases seem rather unjustified and appears to be quickly alienating buyers, at least here..



Austen Nut - I''ve been lazy and didn''t go through the site entirely. Sorry to say, but imho 7k/ct for pink sapphire is verging on nuts..

This change doesn''t effect me personally as I have no particular desire for a concave gem and feel there are many cutters that do traditional faceting more to my tastes than RH''s.
But I do feel bad for those PSers such as Kay who had their eye/heart on something from him..

 

[lelser]

Date: 12/10/2009 7:50:54 AM
Author: Chrono
I don’t get it. He bought those rough a long time ago when the price of rough was lower. He’s also already invested time into cutting it months ago. So why the price increase on old stock? I can understand a price increase in the newer stuff he purchased but not for the price of stuff that has been sitting around in his inventory for the past few months/weeks.

It''s the same thing in jewellery stores. When the price of gold goes up, you have to re-price because the inventory begins to cost less retail than you could replace it wholesale. During the huge run-up in gold prices a few years ago, I helped one of my clients do a massive repricing. He''d expected things to settle back to 400oz rates, and was selling some chains for less than he could get from the refiner!

If there are items that have been hanging around for a long time and you want to get rid of them, you might keep the prices below replacement since you won''t replace anyway, but for top end goods it''s worth raising the prices because they will always be attractive to buyers. I evaluate my inventory every year right after I do the physical accounting, and check pricing against what''s happened in the rough market. It''s standard business practice, or so my accountant tells me

 

[T L]

Date: 12/10/2009 3:05:47 AM
Author: arjunajane
TBH, I already found Richards'' prices on average quite a bit higher than the other cutters, even the ''premium'' ones.
I guess this means I won''t be purchasing either *shrugs*

I''m sorry Kay that you are disappointed - but there are many other cutters who offer great value! Gene is also a good concave facetor, if that is what you''re after..

I ditto this as well. I thought his prices were so high to begin with, but like John Dyer, they do charge a premium for their fine cutting as well. Iin these tough economic times, I don''t understand the price increase, but oh well.

 

[MakingTheGrade]

Yeah, there was a small window of time where he discounted his stones when his website was being overhauled, I''m not a huge fan of concave though. But I remember at the time he had a stone I was considering, and now the price is up 450$

 

[D&T]

Unfortunately I was only able to purchase one gem from him, that I longed for and probably won't be able to invest that much in a gem moving forward

. However Kay, I would strongly urge you to talk with Wink Jones http://www.winkjones.com/, as he does give a discount off of Richard's price and could possibly put it away for you on layaway if you still are interested. Maybe also ask him about the price and who knows, maybe he can work something out

you never know until you try.

 

[PinkTower]

Lisa,


Interesting discussion.

Regarding your gold analogy: I am wondering about the reverse situation that we had this year: platinum hitting extreme low pricing. I wonder when we will see some adjustments for that? I remember Wink posted a really good piece about the rock bottom prices of platinum on here earlier this year, but I never saw a single vendor lower their costs as a result.

 

[Kay]

Date: 12/10/2009 11:07:23 AM
Author: D&T
Unfortunately I was only able to purchase one gem from him, that I longed for and probably won''t be able to invest that much in a gem moving forward

. However Kay, I would strongly urge you to talk with Wink Jones http://www.winkjones.com/, as he does give a discount off of Richard''s price and could possibly put it away for you on layaway if you still are interested. Maybe also ask him about the price and who knows, maybe he can work something out

you never know until you try.

I know Wink offers a 10% discount off of RH''s web prices, but I was hoping to take 10% off the old price, lol. I might try to call him if I decide not to just abandon the idea all together.

I have been thinking about getting a really nice amethyst for a while, since it is my birthstone. I was looking for an 8 to 9 mm square cushion or square emerald for a ring similar to the Cartier Inde Mysterieuse small amethyst ring. I don''t love concave faceting for every stone type, but it seemed to make the dark amethyst material really pop. RH has 2 stones I have been looking at for several months. They are too big for the ring I want to make, but I was toying with the idea of a pendant instead. One is a 12.2 mm, 7.25 ct square emerald that was $700 and is now $830. The other is an 11 mm, 5.3 ct square cushion that was $600 and is now $710. They are beautiful, but it is hard to justify paying $114 per carat for amethyst, especially when those stones have been sitting in inventory for a long time at the old price.

I had a crazy dream of one day owning stones cut by both Richard and John Dyer. I was going to get one from RH first, since his prices seemed reasonable compared to JD. I''ll probably put both on hold for now. I might contact Wink to see if RH could custom cut an amethyst in the 9 mm size I really want, which should cost a little less because of the smaller carat weight.

Of course these artists can charge as much as they want for their work, which is truly beautiful, it''s just a bit disappointing to see prices going up now while everyone else is having sales.

 

[Kay]

Date: 12/10/2009 3:05:47 AM
Author: arjunajane
TBH, I already found Richards'' prices on average quite a bit higher than the other cutters, even the ''premium'' ones.
I guess this means I won''t be purchasing either *shrugs*

I''m sorry Kay that you are disappointed - but there are many other cutters who offer great value! Gene is also a good concave facetor, if that is what you''re after..

What is Gene''s website, please?

 

[D&T]

Date: 12/10/2009 1:05:04 PM
Author: Kay

Date: 12/10/2009 3:05:47 AM
Author: arjunajane
TBH, I already found Richards'' prices on average quite a bit higher than the other cutters, even the ''premium'' ones.
I guess this means I won''t be purchasing either *shrugs*

I''m sorry Kay that you are disappointed - but there are many other cutters who offer great value! Gene is also a good concave facetor, if that is what you''re after..

What is Gene''s website, please?

http://www.precisiongem.com/index.html I have a concave facet gem from him, although its been sitting in a box for a little while now

 

[Stone Hunter]

Well that is a bummer. Do try to work something out through Wink. If you really want an Amy. be RH.

Good Luck!!

 

[luckynumber]

Boooooooo!

 

[RockHugger]

I was looking at his snowflake design topaz...beautiful. But I cant imagine paying that much on one stone...expecially a topaz. Now its up even more? I give it a few months and he will prolly see sales drop dramatically. Then prices will go back down. Everyone else is lowering prices, noone will buy inflated stones.

 

[redfaerythinker]

Well that''s crap... I''ve wanted one of his concave cuts for awhile just to round out my collection and cause they''re kinda nifty!

But I guess that ship has sailed. Oh well.. off to precision gem! I like his website better anyways, and he is the cutter of my fabulous asscher tourm

so i''m already a little biased.

 

[SB621]

Date: 12/10/2009 3:27:45 PM
Author: Tropicgal10
I was looking at his snowflake design topaz...beautiful. But I cant imagine paying that much on one stone...expecially a topaz. Now its up even more? I give it a few months and he will prolly see sales drop dramatically. Then prices will go back down. Everyone else is lowering prices, noone will buy inflated stones.

I severly doubt that.....Richard is a smart businessman who has been doing this for years- if he raised his prices it is because he knows his stuff will still sell.

On that note- I have never bought from Richard, mainly because nothing he has has really "spoken" to me- but when I decide that I can''t live without a concave cut I will see him or wink for a RH. To me it is sort of like buying from Tiffanys- you are getting the brand.

 

[Fly Girl]

Richard Homer''s work is stunning, and I predict that his stones will continue to sell well. The stones on his web site tend to be the rather simple designs. He has lots of complex cuts which you really need to see in person to appreciate, because they don''t translate well to two dimensions. In the hands of a talented designer they really come to life as an amazing piece of wearable art. I hope that if any of you have a chance to see his work in person that you will take advantage of the opportunity. You don''t need to buy, and looking is sooooo fun.