shape
carat
color
clarity

Rapaport - The Internet Evolution

Status
Not open for further replies. Please create a new topic or request for this thread to be opened.

pricescope

Ideal_Rock
Joined
Dec 31, 1999
Messages
8,266
Last issue of Rapaport magazine (June 3, ''05) is dedicated to the Internet issues. Some articles are available online:

The Internet Evolution - by Martin Rapaport

"My father told me a story about his father — the original Martin Rapaport. He owned the grain mill in Satmar, Hungary. The mill made money by buying up large quantities of wheat, grinding it and selling the flour. Every year my grandfather would travel to a very wealthy landowner, a several days’ journey, and negotiate the purchase of the landowner’s entire grain production. One year, my grandfather arrived as usual and the landowner very apologetically explained that he had already sold his wheat to a company in London. He took my grandfather into a room and showed him a telephone, proudly explaining how that the deal was negotiated over the phone. Greatly disheartened my grandfather returned home and told my father “the telephone will kill the wheat business.”"

Other articles

Wooing the Web-to-Store Customer - this article in the magazine ends with "Planting Seeds of Doubt" - ten questions to ask customers. Few of them:

* Did you speak to a person? Is there a telephone number so that you could?
* How was the diamond''s grade determined?
* Is the grade guaranteed?
* Is diamond backed by a report or a certificate? Can you verify that the report referes to the specific diamond sent to you?


Internet Reshaping Market Landscape
The Internet: A Blessing or a Curse?
Do you use the Internet to Attract Customers?
Internet Sales Gain Ground

Some article might become availabile online later. One is rather interesting "Squeezing the little guy" - an interview with a diamond dealer from New York.
 

Maxine

Brilliant_Rock
Joined
Dec 6, 2004
Messages
1,400
Went into a high-end mall store to browse today....mentioned the internet....The salseman said: "you''re stuck if anything is not right," "some people who have bought over the internet haven''t received the diamond to match the cert," "here''s the idealscope!!" (H & A viewer)....etc...........didn''t argue with hime, and he didn''t push the point.....
However, it would be nice to be able to see in person a variety of the stones and settings we see on the internet first hand........
But that said, I was disappointed in the number of settings my jeweler had available when we were shopping.......in a way, when you buy from a local, YOU do all the work and research, and the local benefits, since you are able to go in and ask for exactly what you want!!!!!! Actually less work for them!!!!
 

valeria101

Super_Ideal_Rock
Premium
Joined
Aug 29, 2003
Messages
15,809
Date: 6/6/2005 9:34:19 PM
Author:Pricescope

The Internet Evolution - by Martin Rapaport

'My father told me a story about his father — the original Martin Rapaport. He owned the grain mill in Satmar, Hungary.
Unrelated...

that's my grandparents' town !
 

perry

Ideal_Rock
Premium
Joined
Sep 19, 2004
Messages
2,542
We know that a consumer prefers to see and compare diamonds before they buy. They also prefer the education and personal advice provided by a trained salesperson.

I totally agree. However, my experience is that about 1 store out of 15 has a "trained salesperson" available to discuss the facts about diamonds. Most of the rest start at "clueless" and go down from there. These people focus on only selling the sizzle to outright lying.

But how much are consumers willing to pay for these and other added-value services provided by retailers?

I personally would be willing to pay a reasonable markup to be able to have a good discussion on the qualities of diamonds and have complete trust that the store understood what I was looking for and would take care of it and assemble a fabuouls ring.


My question to the industry: How are B&M stores going to compete if their employees do not know much - if anything - about diamond grading and the tradeoff's?


Edited to add: I see one of the other articles has the line that the B&M Sales Person needs to know at least as much as a person can learn from the internet.

I agree.

I have met too many people who proclaim themselves to be "diamond professionals" who seem to be professionals at ignorance...

Perry
 

valeria101

Super_Ideal_Rock
Premium
Joined
Aug 29, 2003
Messages
15,809
Date: 6/7/2005 5:54:11 AM
Author: perry

We know that a consumer prefers to see and compare diamonds before they buy. They also prefer the education and personal advice provided by a trained salesperson.

....
But how much are consumers willing to pay for these and other added-value services provided by retailers?
Perry, where are these lines cited from ?
 

perry

Ideal_Rock
Premium
Joined
Sep 19, 2004
Messages
2,542
Ana:

From the article cited above: The Internet Evolution

Perry
 

Garry H (Cut Nut)

Super_Ideal_Rock
Trade
Joined
Aug 15, 2000
Messages
17,669
Ana you may be releated?

Perry, how much would you be prepared to pay for such service?

You say a reasonable "mark up", but many times when this issue rises the answer given by prospective buyers is more like a handling charge or ''fee", and less like a margin.

A margin is that which covers the costs of a business.
A fee is an extra amount of earnings based on say an hourly rate for provision of that service.

e.g. My staff cost me $30 and hour, so I could charge you $100 for buying a $1,000 diamond and make a good fee.
Or I could charge you the fraction of my running costs $1,000,000 plus a ROI margin to cover my costs (including coming to Vegas to buy diamonds [$$)] ).
 
Status
Not open for further replies. Please create a new topic or request for this thread to be opened.
Be a part of the community Get 3 HCA Results
Top