windowshopper
Ideal_Rock
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If one were to ask for a discount on a diamond ring-- estate piece. what is the standard or norm. 1, 2, 3 5%???????????????
thanks
ws
thanks
ws
when negotiating...........
- Thread starter windowshopper
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Window,
It depends on where you're shopping. Most dealers are petty accustomed to customers asking for a discount and they have a well established procedure for dealing with it. Some will offer their best price up front in order to give the same deal to everyone and they are usually quite proud of this policy. Others will quote an inflated price at the beginning and then drop in increments as the deal evolves. This is a strategy decision on the part of the dealer and there is something to be said for both approaches. You should start with a pretty good idea of the maximum you are willing to pay and feel free to offer something less than that. This may be 2% under the asking price, it may be 1/3. If you can get it for less than your required price, good for you, and if the dealer has to have more than you’re willing to pay, that’s ok too. They can sell to someone else. You asking for a better price won’t offend sensible dealers, even if they aren’t prepared to accept your offer. You shouldn’t be offended if they refuse. Most are extremely nice about it (They worry about this topic too and they don’t want to offend you either). It all ends in the same place. They say what they have and what it costs and you decide if you want to buy it.
Neil Beaty, GG ISA
Independent Appraisals in Denver
It depends on where you're shopping. Most dealers are petty accustomed to customers asking for a discount and they have a well established procedure for dealing with it. Some will offer their best price up front in order to give the same deal to everyone and they are usually quite proud of this policy. Others will quote an inflated price at the beginning and then drop in increments as the deal evolves. This is a strategy decision on the part of the dealer and there is something to be said for both approaches. You should start with a pretty good idea of the maximum you are willing to pay and feel free to offer something less than that. This may be 2% under the asking price, it may be 1/3. If you can get it for less than your required price, good for you, and if the dealer has to have more than you’re willing to pay, that’s ok too. They can sell to someone else. You asking for a better price won’t offend sensible dealers, even if they aren’t prepared to accept your offer. You shouldn’t be offended if they refuse. Most are extremely nice about it (They worry about this topic too and they don’t want to offend you either). It all ends in the same place. They say what they have and what it costs and you decide if you want to buy it.
Neil Beaty, GG ISA
Independent Appraisals in Denver
- Joined
- Sep 3, 2000
- Messages
- 6,642
There is no standard mark-up. It varies greatly.
YOU need to research prices and values and make a decision as to what you are willing to spend and if you can purchase what you really want for that amount of money. Then, go shopping knowing the basic costs.
Once you find the right piece, if the price is not really fair, offer somewhat less. If the price is fair and right, then you are just wasting your time making low ball offers....It will prove you are unaware of the value and don't know a good price when it is right in front of you. Maiking an offer based on knowledge of value makes you look very smart. Making an offer that is ridiculous does nothing for anyone.
I just purchased a "toy" for myself. I researched the markets and the values first. I finally found the item I wanted and the seller was already asking a very fair price...Probably less than could legitimately be asked for the item. I simply told him I was a buyer for it and did not offer him less. The Golden Rule is applicable to doing long term, satisfactory business.
YOU need to research prices and values and make a decision as to what you are willing to spend and if you can purchase what you really want for that amount of money. Then, go shopping knowing the basic costs.
Once you find the right piece, if the price is not really fair, offer somewhat less. If the price is fair and right, then you are just wasting your time making low ball offers....It will prove you are unaware of the value and don't know a good price when it is right in front of you. Maiking an offer based on knowledge of value makes you look very smart. Making an offer that is ridiculous does nothing for anyone.
I just purchased a "toy" for myself. I researched the markets and the values first. I finally found the item I wanted and the seller was already asking a very fair price...Probably less than could legitimately be asked for the item. I simply told him I was a buyer for it and did not offer him less. The Golden Rule is applicable to doing long term, satisfactory business.
In order to be an effective negotiator one must have a thorough knowledge of the marketplace. That's something the overwhelming majority of us do not have. This website can provide lots of information about diamonds and how to distinguish between them. Armed with that knowledge you can then search the marketplace and get a better feel for what price you show be paying for a particular stone.
Negotiate? You can try. But unless you know the weaknesses of the seller's position, it's basically a waste of time. To know those weaknesses you'd really have to be in the trade yourself.
Negotiate? You can try. But unless you know the weaknesses of the seller's position, it's basically a waste of time. To know those weaknesses you'd really have to be in the trade yourself.
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