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»  » Diamond Prices and Grading »
 » RockyTalky
»  » How much does the middle man cost?
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How much does the middle man cost? |
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| P: 4/11/2003 4:39:39 PM | |
Pyramid Ideal Rock Total Posts: 2,914 Last Post: 11/11/2009 Member Since: 11/10/2002 |
I know jewellers probably won't tell this but maybe some consumers may have an idea. I am in the United Kingdom. I have found a jeweller who buys his diamonds direct from Israel and has done since 1970s. He also orders his ring settings in from Italy and lets customers choose which ring they want the diamond set in which he or his staff does in the onsite workshop. Okay I am going to translate this into dollars for you but this is what I have found. H colour, vs-si quality, 0.70 carat, modern brilliant $3,429.14 and he gives discount which equates to $314.600 price to me $3114.54 (in British pounds £2180 - £200 = £1980). Another local jeweller who does not buy direct has the following H-I colour, si1/2 quality, 0.51 carat, modern brilliant $2,886.45 (in British pounds £1835). Now the first jeweller gives you a discount when you say you are buying, not negotiating for it so everyone gets it on all types of jewellery). I am thinking it is not a discount but money just added onto the price ticket and then taken away to make you feel better. What do you think? Can his buying direct and cutting out the middle man mean he can offer such a deal as above, the stone being a 0.70 carat as opposed to a 0.51 carat stone which the other jeweller is selling. How much does the middle man cost? Ofcourse, I know different jewellers have different prices, overheads etc. |
| Posted: 4/11/2003 4:39:39 PM | |
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There are 5 replies to this message. There are 5 replies on this page. |
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| P: 4/11/2003 5:20:50 PM | |
dimonbob Ideal Rock Total Posts: 660 Last Post: 10/30/2009 Member Since: 12/13/2000 |
You do ask good questions :-) Just for starters, the jewelers in the U.K. pay the same for diamonds as Americans or any other country. As you already know you can buy on the internet a super ideal cut H&A diamond .70 H SI1 for about $2800 or a regular cut diamond for about $1800 to $1900. So if your U.K. jeweler is buying direct, his markup is a little steep, even after the discount. Here is a fact that I know and it probably applies in the U.K. also. I used to work for a diamond wholesaler. We supplied diamonds to many of the jewelers in the city where I worked. Many, not all, of the jewelers that we supplied claimed that they got their diamonds direct from the cutters overseas. No, they got their diamonds from the wholesaler who got the diamonds from the cutters overseas. The middle man, in this case the wholesaler, got about 10% over his cost but the wholesaler purchased over a million dollars on each trip overseas three or four times a year. Buying large amounts gets you a better price. Jewelers who buy at the major cutting areas buy only a few diamonds and make that claim when they are only using it as an excuse to take a vacation. If they buy one diamond from a cutter overseas, he has a direct source, but in fact he is supplied from a supplier in his city or country. dimonbob, GG |
| Posted: 4/11/2003 5:20:50 PM | |
| P: 4/11/2003 5:39:16 PM | |
mdx Ideal Rock Total Posts: 570 Last Post: 11/29/2007 Member Since: 3/1/2002 |
Diamondbob I wonder if Pyramid is including the 17% GST levied on diamonds in the UK. If she is then the price is not that far off your Super Ideal. If the stone is not an "Ideal" then it is a bit steep Wayne Diamond Exchange Ltd. (Australia) |
| Posted: 4/11/2003 5:39:16 PM | |
| P: 4/11/2003 5:40:32 PM | |
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Pyramid Ideal Rock Total Posts: 2,914 Last Post: 11/11/2009 Member Since: 11/10/2002 |
Diamondbob, thank you for the information. I am hoping that the stone is nearer to VS quality than SI as I said I wanted VS but was told that generally that is what their stones were but as a general guide they also said VS to SI. I do know that he said he does not take in extra stock for christmas as he has so much stock throughout the whole year!? If the stone is a VS quality which I have now asked them and waiting for a reply would the deal be good do you think?
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| Posted: 4/11/2003 5:40:32 PM | |
| P: 4/11/2003 5:45:44 PM | |
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Pyramid Ideal Rock Total Posts: 2,914 Last Post: 11/11/2009 Member Since: 11/10/2002 |
Yes this would include the vat of 17.5%. I also forgot to add that this price also includes an 18 carat gold solitaire ring mount, slim plain style. I am wondering if given the vat and the price of the mount it means that the stone must be a SI1, I am hoping for a VS clarity but will hear back from the jeweller tomorrow or Monday. The stone is not a superideal but he said that it was cut according to the chart he showed me which was for an ideal cut.
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| Posted: 4/11/2003 5:45:44 PM | |
| P: 4/14/2003 4:15:31 PM | |
Indirax Rough Rock Total Posts: 2 Last Post: 4/17/2003 Member Since: 4/4/2003 |
Pyramid...will you get a certificate with the diamond or will it just be the jeweller's word that its a VS or an SI stone? Without a certificate, he can easily just say its a VS to please you! I too am in the UK and found that we pay more for our diamonds (just as we pay more for 9other products such as cars etc). Have you considered getting your stone from Antwerp...I think that they have 3 cutting centres there. I bought my stone from an Antwerp based dealer who visits London and I know that I got a much better stone and price than any that I looked for in the UK. IndiraX |
| Posted: 4/14/2003 4:15:31 PM | |
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