Buying diamond from "wholesaler" / setting from retail shop

[engagedsoon]

I consider myself an expert on a few things, buying jewelry is NOT ONE OF THEM. I want to thank all the experts out there for helping me with my purchase. I feel so lost buying a diamond. I have never purchased an expensive piece of jewelrey in my life. I have tried to research as much as possible, but I wanted to ask a few questions as I am going shopping again next Monday to possibly make the big purchase.

My budget is $5k for her engagement ring. I found the setting that I (and she) really want at a retail shop in my hometown. The setting is listed at $1200. It is from an unknown Hong Kong designer and has .41 ct weight of diamonds in it. This leads me to my first questions - if I don''t buy my diamond from this (very reputable) retail shop, and I take a diamond to them purchased at another store, 1) Can I expect to get a discount on the setting? and 2)How much should I offer for the setting? and 3) Will they try to add on additional charges for setting the diamond, etc.?

About purchasing the diamond:

This "wholesaler" (I''ve already read up on what a wholesaler is, and what all that means, and how it''s just a term thrown around) is someone reccommended to me by a close friend who has purchased a diamond for his wife through this "wholesaler" and several of his friends have as well. The friend is a very successful businessman, deals with sales people all the time, and assures me that I will get the best deal on a diamond from this person. I really trust this guy, he has always looked out for my best interests. The only problem is that he and the diamond guy are in another city that I''m going to have to drive to.

I would like a round 1 ct. At my local retail dealer, I found one I liked that was a round 1.06 H/VS1 and it was selling for about $7700. It''s out of my budget obviously. My girlfriend isn''t really worried about getting a super expensive super high quality diamond, she just loves the "sparkle" and wants something that sparkles. She has never owned any expensive jewlrey either and is not really obsessed with it at all, but I would like to get her the best quality for my dollar.

Any recommendations for me? I''ve been to about 10 local retailers. All the diamonds they were showing me were listing for about 7K, mostly 1 ct weight rounds. I really don''t care if it has some small inclusions that are only visible to a gem scope. She just wants it to sparkle on her finger.

Thanks--

 

[TimeTraveller]

Date: 8/24/2005 8:32:18 PM
Author:engagedsoon

Any recommendations for me? I''ve been to about 10 local retailers. All the diamonds they were showing me were listing for about 7K, mostly 1 ct weight rounds. I really don''t care if it has some small inclusions that are only visible to a gem scope. She just wants it to sparkle on her finger.


Thanks--

Given your 5K budget, you''ll have to go lower in color and clarity for an ideal cut stone. H/VS1 will indeed cost you around $7k.

Consider this I/SI1 1.0ct diamond from White Flash. It''s from their Expert Selection line.
http://www.whiteflash.com/round_ideal_cut/Round-Ideal-Cut-cut-diamond-1335347.htm#

As you say you don''t mind a little bit of inclusions, the SI1 clarity should work well for you. This diamond is around $4.6K.

Good luck!

 

[Tacori E-ring]

We did a similar thing. FI bought my tacori setting from a jewelry store and the diamond from a diamond broker. Since Tacori likes to set the diamond themselves that wasn''t a big issue. One of the employees of the store was seriously talking "down" the diamond he bought which caused undue stress on my poor FI but besides that they didn''t make a big deal about it. They told us from the begining that it wouldn''t be a problem if we didn''t buy the center stone with them. You probably could get more of a "deal" on the setting if you bought both at the same store but if the "wholesaler" give you a good deal you should still come out ahead if you go with your original plan.

 

[laney]

Hi.

We bought our stone from an internet vendor
We bought our setting from a local jeweler. And got a discount of of the ''list'' price on the piece.

The jeweler set it while we waited. They were nice, complimented our stone, and everything was great.

So, I''m sure this all depends on who you work with - but our "local jeweler" didn''t have any problem at all. We were buying the setting and w-band so why would they?

As far as stretching your dollar - I would reccomend taking a look at some internet options. I too - have been to an actual wholesaler (for an insurance replacement of a stone.. not my first time buying) - and I found that they had access to a lot of stones.. So you might be able to see a lot.

but keep your options open -- I definately think you could do better than those prices already quoted to you..