Need advice on a wholesaler

[permafrost]

I reached out to a diamond wholesaler in the NYC diamond district, who is the uncle of a business contact, hoping to get a better deal vs polygon.

The wholesaler is established, been in the business for many years.


Here's my quandary. When I first called him, he didn't have the stone I was looking for, but next morning found one that would meet my specs.


He's offered the stone at $12,500, but with a 1 week full refund period and I pay shipping both ways ($80 total), if I don't choose it.


After, he sent me the GIA, I found the same stone on B2C for $12,300, and their terms are free shipping both ways, 30 days.


So what gives? He claims he's doing the stone at 5% markup to Polygon.

Am I missing something here? Why would B2C be lower, and better terms? Also, is there a way to determine if someone physically has the stone in their possession?


I would have to wire money today, to get the stone in time for my selection process on Friday. Is this dumb on my part? Do I need an ironclad contract on my return rights/ full refund rights?

 

[chrono]

Sounds like he is also a dropshipper and you've discovered firsthand why a friend of a friend or family friend in the business and what-have-you doesn't necessarily help you find the best stone at the best price. Have you evaluated the level/quality of the cut, given that you are dropping over $12K for it?

 

[permafrost]

Sounds like he is also a dropshipper and you've discovered firsthand why a friend of a friend or family friend in the business and what-have-you doesn't necessarily help you find the best stone at the best price. Have you evaluated the level/quality of the cut, given that you are dropping over $12K for it?

I've got another seller w/ polygon access checking the listing, to see which dealer actually has it.

It was a long shot, but I thought maybe I could get a wholesaler who would give me the polygon price.. but I'm not impressed that he's giving a lesser deal than I could get off of B2C.


My inclination is to pass, it's a Princess (so can't go off the numbers), 1.7, G, VS2 , GIA , Pol: VG, Sym: G , D: 71.4%, T: 71% (so not an ideal cut)

has imperfections in the center, thick to very thick girdle. Without a picture, etc, all I have is the GIA, and a sub par deal.

I've got enough stones for my selection process this week.

 

[chrono]

Since you are buying sight unseen, either buy from someone who can provide you the cut quality analysis via ASET and/or a princess cut with AGS0 rating. I would also strongly go with whoever gives you a generous review/return period.

 

[luvdajules]

It's likely that your contact is telling you the truth, he gets 5% above his cost. There are a few vendors like B2C and Union Diamond that take less, more like 2-3% above their cost. B2C can likely get you an image (actual diamond and ASET or Idealscope) before buying/shipping and they have some type of upgrade policy. Union Diamond can maybe get you the diamond for a little less, but no reflector image and no upgrade policy.

 

[permafrost]

Since you are buying sight unseen, either buy from someone who can provide you the cut quality analysis via ASET and/or a princess cut with AGS0 rating. I would also strongly go with whoever gives you a generous review/return period.

I think I'll pass on it.. but at least another seller confirmed this wholesaler is the listed dealer on Polygon.. so, he's most likely inspected it.. and isn't just drop shipping it

 

[permafrost]

It's likely that your contact is telling you the truth, he gets 5% above his cost. There are a few vendors like B2C and Union Diamond that take less, more like 2-3% above their cost. B2C can likely get you an image (actual diamond and ASET or Idealscope) before buying/shipping and they have some type of upgrade policy. Union Diamond can maybe get you the diamond for a little less, but no reflector image and no upgrade policy.

I have some local stones under consideration.. where does one go about getting ASET images, and with relatively quick turnaround?

 

[luvdajules]

You can get an ASET from an appraiser (once you've bought the stone during the return period). Make sure you whoever you do work with have iron clad return policies so if the ASET isn't what you want, you have rights. Otherwise, it's best to work with vendors who can provide ASETs or have first hand knowledge of the diamonds you like so you can ask questions and they can provide real information that you can base a decision. Good luck and keep posting and we will try to help along your diamond search and selection.

 

[msop04]

If I had your budget and wanted a princess cut, I would go with this in a heartbeat! $12,840 wire

http://www.whiteflash.com/loose-diamonds/princess-cut-loose-diamond-2978541.htm

 

[Tekate]

msop* that is a great buy and a very nice stone. not into princess per se.. love them but I've got studs that are princess cut stone but I would buy this one in a heartbeat!

 

[msop04]

msop* that is a great buy and a very nice stone. not into princess per se.. love them but I've got studs that are princess cut stone but I would buy this one in a heartbeat!

Yeah, I though it was a really pretty stone at a good price -- I'm not into princess cuts either, but some people just love 'em!