Added Value: A discussion.

[denverappraiser]

I missed that post and I suspect it was killed by the admin because of the obvious agenda but it does raise at least one interesting question:

What information are consumers entitled to?

I would argue that this is next to zero. They don’t have to give you the weight, the grade, or even the fact that it’s a diamond at all. They certainly don't have to tell you when it was mined, where it was mined, who cut it, who has owned it and so on. This can ALL be buried if they want, even if they know it. As a consumer, of course, you have every right to refuse to buy if they don’t supply the data you want but it is simply NOT a requirement that they do so.

What they do decide to tell you must be fundamentally correct. It’s a diamond. It’s a round brilliant cut. SOMEONE called it a VS2. And so on. If they make claims that are untestable, like that it was cut by Paul personally, owned by Elvis, or mined on Thursday, they both have an obligation to tell the truth about these things to the extent that they can and to do some due diligence to substantiate the claims that they’re making. As with the above, you are under no obligation to either believe them or to care but they’re not allowed to deliberately lie to you.

The tricky part is what can they / should they / must they, tell you in order to get the sale. That's different for each customer and I agree that the trend is marching solidly towards more and more.

 

[Karl_K]

One of the things I found so interesting is that vendors, cutters and appraisers add value to purchasing from them by participating here.
Even those that read far more than they post add value by helping their customers in a very public manner when a problem occurs or a policy question comes up.
Those that jump into threads like this one where they are able to respond brings value.
I think that even online many consumers want to feel a connection to a vendor instead of sending a huge amount of money to faceless strangers.
I know that when I could recommended vendors having the CEOs email address in my address book gave me much more confidence in recommending them.
If there was a problem I know I could go to the top and yell at someone who could fix things and it was less likely I would ever look bad by recommending that company.

 

[missy]

One of the things I found so interesting is that vendors, cutters and appraisers add value to purchasing from them by participating here.
Even those that read far more than they post add value by helping their customers in a very public manner when a problem occurs or a policy question comes up.
Those that jump into threads like this one where they are able to respond brings value.
I think that even online many consumers want to feel a connection to a vendor instead of sending a huge amount of money to faceless strangers.
I know that when I could recommended vendors having the CEOs email address in my address book gave me much more confidence in recommending them.
If there was a problem I know I could go to the top and yell at someone who could fix things and it was less likely I would ever look bad by recommending that company.

I agree completely Karl. I think perhaps making a connection with an online vendor might even be more important because you cannot meet them face to face so it's the only sort of personal interaction you can have with them and that helps when you are making an expensive purchase. At least from my experience.

 

[missy]

I missed that post and I suspect it was killed by the admin because of the obvious agenda but it does raise at least one interesting question:

What information are consumers entitled to?

I would argue that this is next to zero. They don’t have to give you the weight, the grade, or even the fact that it’s a diamond at all. They certainly don't have to tell you when it was mined, where it was mined, who cut it, who has owned it and so on. This can ALL be buried if they want, even if they know it. As a consumer, of course, you have every right to refuse to buy if they don’t supply the data you want but it is simply NOT a requirement that they do so.

What they do decide to tell you must be fundamentally correct. It’s a diamond. It’s a round brilliant cut. SOMEONE called it a VS2. And so on. If they make claims that are untestable, like that it was cut by Paul personally, owned by Elvis, or mined on Thursday, they both have an obligation to tell the truth about these things to the extent that they can and to do some due diligence to substantiate the claims that they’re making. As with the above, you are under no obligation to either believe them or to care but they’re not allowed to deliberately lie to you.

The tricky part is what can they / should they / must they, tell you in order to get the sale. That's different for each customer and I agree that the trend is marching solidly towards more and more.

Personally speaking I want to purchase from a vendor with all the information I can possibly obtain about the piece I am buying. Knowledge is power and the only way to make the best possible purchase IMO. And I also want to purchase from someone I like. Right or wrong that's how I feel and I have discontinued doing business with someone (B&M store) when I became aware of their deceitful practices. It was upsetting though not totally surprising and I had spent a considerable sum of money there over the last decade or so. She has beautiful pieces but I simply won't buy from someone I don't respect. And there are so many good and reputable vendors out there why would I even want to?