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Are there really any deals?

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nextstepjohnny

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As a still-searching, getting frustrated new pricescope member (and a hopefully engaged one soon at that), I have a question.

Is there any such thing as getting "a deal" on a stone here? I mean, all the stones in-house at vendor have been examined, and presumably priced accordingly.

So, I initially thought that by searching the virtual stones, a relatively better deal could possibly be found. However, THOSE stones have already been examined by someone as well, and as such, the "wholesale" price for vendors for those stones must also reflect this.

So is it even possible to get a deal?

I ask this because recently I was about to purchase a stone, but through a bank-mishap I was unable to purchase it, and it has since been sold (of course just before I cleared things up with the bank).

The stone itself seemed like a great deal. GIA round 1.56ct, G color, SI1 which was eye-clean SI1 per the vendor from both the top and sides, strong blue fluoro that again, per the vendor did not make the stone milky, and an HCA of 1.8. Girdle was med-slt thick, and it was not too deep or anything like that. It was priced $1000 less than similar stones with HCA < 2 via virtual inventory search.

Was this really an incredible deal that I missed? Or was something amuck with the stone that wasn''t being disclosed?

Should I beat myself up for missing out on this, or consider myself lucky for not purchasing it and then having to return it when I found its hidden flaw?

OK, that was more like 6 questions.
 

Lorelei

Super_Ideal_Rock
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Date: 3/15/2010 3:02:11 PM
Author:nextstepjohnny
As a still-searching, getting frustrated new pricescope member (and a hopefully engaged one soon at that), I have a question.

Is there any such thing as getting 'a deal' on a stone here? I mean, all the stones in-house at vendor have been examined, and presumably priced accordingly.

So, I initially thought that by searching the virtual stones, a relatively better deal could possibly be found. However, THOSE stones have already been examined by someone as well, and as such, the 'wholesale' price for vendors for those stones must also reflect this.

So is it even possible to get a deal?

I ask this because recently I was about to purchase a stone, but through a bank-mishap I was unable to purchase it, and it has since been sold (of course just before I cleared things up with the bank).

The stone itself seemed like a great deal. GIA round 1.56ct, G color, SI1 which was eye-clean SI1 per the vendor from both the top and sides, strong blue fluoro that again, per the vendor did not make the stone milky, and an HCA of 1.8. Girdle was med-slt thick, and it was not too deep or anything like that. It was priced $1000 less than similar stones with HCA < 2 via virtual inventory search.

Was this really an incredible deal that I missed? Or was something amuck with the stone that wasn't being disclosed?

Should I beat myself up for missing out on this, or consider myself lucky for not purchasing it and then having to return it when I found its hidden flaw?

OK, that was more like 6 questions.
Hi Johnny

Strong blue fluorescence can mean some stones are discounted so that could have been part of the reason. There are various possibilities though as to why the pricing was less such as vendor after sales benefits offered as an example - another example is that the diamond might not have been eyeclean to you. I wouldn't beat yourself up, there will always be another diamond, for one reason or another you weren't meant to have this particular one!

Also sometimes the cheapest deal isn't necessarily the best deal....What I mean by this is that although you might get a diamond for less from some sellers, they don't always offer the level of service that some others do such as images, buy back, upgrade policies and so forth. Those vendors that do offer increased benefits can rightfully charge more than a drop shipper that just flips the stone. So this is something to bear in mind which can have an effect on pricing.
 

nextstepjohnny

Rough_Rock
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This was Solomon Brothers - I know they''re not a true drop shipper, but they do tend to have VERY good prices. I did want to order from a company that at least has a physical presence and a good return policy.

I hadn''t thought about vendor incentives. I do know the fluoro brings down the price, but from what I''ve read, that''s like a few percentage points, (1-3%), and certainly not to the extent that this was in price difference.

It''s just messing with my head a little....
 

oldminer

Ideal_Rock
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In theory, and it is only in theory, the free market is very smart and adapts immediately to reflect the actual value of every diamond going through normal sales channels. Those diamonds listed on Pricescope are competing with one another in a most transparent environment compared to what takes place in regular stores. The "deals" happen now and then when the market proves that it is not absolutely perfect, but you just have to be very lucky or in the right place at just the right time for that event to happen to you. I don't believe you can possibly know when it is happening fast enough to know when to pull the trigger. You cannot hope to search out the "deal" by description of the stone, because the value tends to follow the description nearly all the time. Once in a great while, the value is better because the description is slightly incorrect to the lower side. You would never be able to tell it was happening.

The real deal is working with a quality vendor who gives you super service and a good overall feeling. You probably won't buy many diamonds in your entire lifetime and the few times you do it might as well be a very pleasant experience outside of the monetary cost. It is a lot like a very tasty meal served by professionals in a fine restaurant. It leaves you with not only with a good taste in your mouth, but no feeling of having been overcharged.

You can occasionally find a distressed price diamond listed in a places like Craigslist or Ebay, but how anyone could wade through the ripoffs and misrepresented gems there is way beyond my own ability. I doubt many experts could catch a "deal" there let alone a consumer.

I suggest that rather than look for the impossible deal, you should decide what it is that you really want to buy, based on your taste and your budget. Shop til you drop and buy a stone which you can check out and have a good return privilege with just in case.
 

Lorelei

Super_Ideal_Rock
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Date: 3/15/2010 3:14:49 PM
Author: nextstepjohnny
This was Solomon Brothers - I know they're not a true drop shipper, but they do tend to have VERY good prices. I did want to order from a company that at least has a physical presence and a good return policy.

I hadn't thought about vendor incentives. I do know the fluoro brings down the price, but from what I've read, that's like a few percentage points, (1-3%), and certainly not to the extent that this was in price difference.

It's just messing with my head a little....
SB are competitively priced. I just had a look on their website and I couldn't find anything about upgrade policies etc so I assume they don't have such a scheme.

I do understand how you feel but I am a big believer in fate, for some reason or another this diamond wasn't meant for you. If you find another diamond you love and you want to buy from SB, ask them if they can price match it for you. Everyone is different and although upgrade policies and buy back's etc are important to many buyers, there are those that just want to buy a diamond and aren't bothered about having these options. They just want to buy the stone and thats it. It just depends which group you fall into.

But I am working on assumptions here that SB do not offer an upgrade policy, maybe if anyone is reading from there they can clarify please?

Also the signature of MrsSalvo's seems apt here....A deal is only a deal if you are getting exactly what you want. Maybe this stone wouldn't have been so much of a ' deal' after all if you had bought it.
 

dreamer_dachsie

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No.
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nextstepjohnny

Rough_Rock
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Thanks for the replies. I''m not a huge believer in fate, but I''m inclined to believe that I was not fated to purchase this diamond.

On to Mr. Atlas, who from my extensive browsing appears to be a foremost authority on diamonds:

I always appreciate advice and information from the experts. As an aside - as a Philadephian, I plan on sending my diamond to you for its appraisal once I make that fated purchase.

I do see that diamonds should, in theory, follow market prices, and the pricescope search should be as transparent as one can get. It is actually this pseduo-transparency that is one of my main gripes with purchasing a diamond. I would like MORE transparency in regards to the true values and costs of stones, and it seems that this industry is constantly fighting for less.

Diamonds are not commodities, and as such, hold very little value. Akin to a car, once you buy it, it depreciates an incredible amount. However, unlike a car, a "traded-in" diamond is not re-sold as used, but rather, as brand new! And also unlike a car, which may depreciate upwards of 20% upon purchase, from what I can gather, a diamond depreciates somewhere in the relm of 70% upon purchase! Both of these senarios assume re-selling the item to the dealer. How is this justified? This depreciation is just criminal! I will buy a diamond for my hopeful future fiancee because I have to, because she, and society, expects it; but I will never feel satisfied purchasing such an overly-inflated item.

Ugh, I think I''m just in a terrible mood because my profession is getting ruined by healthcare reformers who know nothing about healthcare.
 

Rockdiamond

Ideal_Rock
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I can only say THANK YOU to those involved in health care nowadays.....What a tough, and incredibly vital profession


In terms of diamonds...
I am also a huge fan of transparency in business, but I feel that buying diamonds off a list with no photos is not all that transparent.
Sometimes it seems as though two stones, ostensibly identical, have hugely different prices.
Ever wonder why?

In terms of diamonds as a commodity, you are correct- which also goes to the first point about transparency.
If every F/VS1 was worth the same amount, they might be more comparable with commodities.

To compare to a car, you are correct, there is a huge hit when you "drive it off the lot"
Unlike a car, diamonds bottom out and can actually rise from that point.
If we use data from the past 50 years, they have risen considerably.

If someone paid $10k yesterday and needed to sell to the trade, they''d suffer a big loss.

If someone paid $10k in 1975 for a desirable stone, they might be able to sell it wholesale for $15k today.....and hopefully have gotten many years of enjoyment from it.
How much is that $10,000 in 1975 Cadillac worth today?
 

Lula

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Date: 3/15/2010 6:07:14 PM
Author: Rockdiamond



How much is that $10,000 in 1975 Cadillac worth today?

Quite a bit, if you can prove Elvis drove it
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Rockdiamond

Ideal_Rock
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Sarap333- your answer got me All Shook Up.
I know you''re a real Teddy Bear, and I can''t Help Falling in love with you.
 

Rockdiamond

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thanks nextstepjohnny- I used to make a point of telling our clients that diamonds were not a great investment monetarily.
After the past few years, I''ve changed my opinion.....
 

Lula

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Date: 3/15/2010 6:07:14 PM
Author: Rockdiamond


In terms of diamonds...

I am also a huge fan of transparency in business, but I feel that buying diamonds off a list with no photos is not all that transparent.

RD, why is buying off a list with no photos any less transparent than viewing the limited stock of a few local vendors? Either way you''re not getting the full picture of what''s available and either way it''s difficult to compare prices and quality.
 

tradergirl

Brilliant_Rock
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Jan 26, 2008
Messages
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Hey Johnny: there are deals. The issue is: it it worth it to you to learn enough to tell one when you see one. When I found this site 2 years ago, I was really clueless. But I spent literally days reading through various threads and I learned. I was interested in antique diamonds which are not as precisely cut as modern but to me are so much more pleasing to the eye. After about a year, I was ready to start buying and flipping. I've gotten some awesome awesome deals on Ebay and Craigslist and have made nice profits on several of them. I've also parlayed those profits into upgrading my own ring several times. Hopefully the next upgrade will be to the 4ct rock Erica has on her home page. Not bad considering I owned no diamond two years ago.

It's a game and if you want to learn and play it, you can win. It's just a lot of work.

P.S. Don't worry about HCR. The whip counts are bad and getting badder.
 

Lula

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Date: 3/15/2010 6:38:17 PM
Author: Rockdiamond
Sarap333- your answer got me All Shook Up.

I know you''re a real Teddy Bear, and I can''t Help Falling in love with you.

Groan!
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Rockdiamond

Ideal_Rock
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Date: 3/15/2010 6:44:46 PM
Author: sarap333
Date: 3/15/2010 6:07:14 PM

Author: Rockdiamond



In terms of diamonds...


I am also a huge fan of transparency in business, but I feel that buying diamonds off a list with no photos is not all that transparent.


RD, why is buying off a list with no photos any less transparent than viewing the limited stock of a few local vendors? Either way you're not getting the full picture of what's available and either way it's difficult to compare prices and quality.
Agreed- if we are comparing a B&M with limited stock, and potentially pushy salesperson, transparency is better on the web lists.
But there are B&M's with large inventories, and capable knowledgeable salespeople who are not pushy.
If we compared a modern B&M with the positive attributes, that could potentially be a more transparent manner of selling. It would also cost more to run the business- which impacts the cost of the goods to the buyer, but some consider the trade off well worth it.
I agree- B&Ms that work that way, and have large inventories are few and far between.
There are also website based sellers with actual inventories, and more transparent business practices.

I guess part of why I feel the lists can be less transparent than they might seem, is that with no photos buyers are faced with a decision I would never want to make- buying a diamond not knowing what it looked like.
That does not stop the largest internet sellers from selling tons with no photos....and having a lot of satisfied customers.



Waytogo tradergirl!!!
Sounds like you're having a great time.
 
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