Amazon.com is selling diamonds??

[mike04456]

Indeed.




This seems to be representative.

 

[DiamondExpert]

Looks like they are going to have a full line of everything...http://www.amazon.com/gp/browse.html/103-2200808-0813455?node=3367581

 

[niceice]

This should not surprise anybody, they are the parent company behind Blue Nile after all...

 

[sumi]

I didn't realize they were the parent company to Blue Nile. It just seems so weird to buy "fine jewellery" from them. (not sure how fine it is...) I still only think of amamzon.com in terms of books. What DON'T they sell?

 

[Mara]

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What DON'T they sell?
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Kidneys.

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I particularly like this little gem of a quote from that page:

'Amazon.com's Commitment to Quality: We work with the most reputable suppliers in the industry to offer high quality jewelry at the lowest price possible. Learn more about our Commitment to Quality and Value.'

High quality jewelry like a 'minimum' I and I1 clarity stone with a 'sample' IGI cert and not even the basics like table and depth?

How about commitment to furthering ignorance and confusion. Yes that sounds a little better.

How sad is it that the only thing that they give you extra information on is the 'luxury wood finished box' which comes with a picture. No picture of $3800 diamond necessary! You're buying the little brown box.

 

[pqcollectibles]

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On 1/16/2004 12:20:26 AM Mara wrote:

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What DON'T they sell?
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Kidneys.

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Give 'em time, Mara. They'll figure out a way to do that!

 

[hoorray]

I thought I had read that they were acting as a electronic store front for Ross-Simons, the way they do for Toys-R-Us, Nordstrons, etc.

My gold box has been FULL of low end jewelery for the last couple of months -- more along the line of Ross-Simons than BlueNile. THe highes quality diamonds have been I color, I1 clarity and fair - good cut.

 

[Hest88]

How...romantic. I couldn't see myself buying fine jewelry from them any more than I can see buying it at Sears.

 

[hoorray]

or Costco.....I have trouble with the concept of buying high end jewelry at Costco.

 

[longtimelurker]

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On 1/15/2004 8:29:39 PM niceice wrote:

This should not surprise anybody, they are the parent company behind Blue Nile after all...----------------

Blue nile is privately owned and vc funded. Amazon doesn't own them. Hopefully this is a link to Amazon.com's 10-k exhibit 21 - list of subsidiaries.
http://phx.corporate-ir.net/phoenix.zhtml?c=97664&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9MjAyODE2NiZkb2M9OQ==

I am in the Seattle area and have a financial background.

 

[mike04456]

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On 1/16/2004 12:15:44 PM longtimelurker wrote:

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On 1/15/2004 8:29:39 PM niceice wrote:





This should not surprise anybody, they are the parent company behind Blue Nile after all...----------------

Blue nile is privately owned and vc funded. Amazon doesn't own them.
----------------

That's what I thought myself. I think there was a WSJ article a while back on how Blue Nile got started. If Amazon owned them, it would really raise the question of why they were competing with one of their own subsidiaries.

 

[niceice]

Amazon.com did indeed back Blue Nile in the beginning, or at least the same person who started Amazon.com had his fingers deep in the operations of Blue Nile in the beginning... Dig deeper.

 

[Mara]

I emailed them a note from the 'product suggestion' box area last nite...said that their table and depth ranges were insulting considering that they were SO large. a 71% table diamond coupled with 67% depth? In their range as a good stone. It seems so ridiculous to me that they'd note that right under their 'commitment to quality' pledge. They probably won't even bat an eyelash, but it felt good to send the email. I noted that they were Blue Nile's parent company (OOPS) so they will probably just write off my email...or pass it around the office for some laughs (I've done that!).

I love Amazon for alot of items (got a great pair of expensive flannel sheets last week for a closeout $26!), but I think they have moved into certain areas they don't really belong...e.g not really interested in buying clothes from them..and diamonds. They have not been 'just books' for so long and I am not against a little diversification, but where is the line drawn. What's better..to excel at a few things or try to do too many half-ass? Sell what you know.

 

[mike04456]

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On 1/16/2004 12:55:08 PM niceice wrote:





Amazon.com did indeed back Blue Nile in the beginning, or at least the same person who started Amazon.com had his fingers deep in the operations of Blue Nile in the beginning... Dig deeper.
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Are you sure you're not confusing Amazon's Jeff Bezos with Microsoft's Paul Allen (who did indeed invest in BN)? I dug deeper and found nothing.

 

[longtimelurker]

Lawgem-

All I could find in a QUICK search is that one of the VC's - Kleiner Perkins (round 2) also invested in Amazon.com, along with other dot.coms. So, they may (or did at have one time) have related investors and/or board members????

 

[hoorray]

I also looked at both and see no relationship. Blue Nile has a standard list of VC types, including Paul Allen of Microsoft. Amazon lists the following as their "featured" jewelry sellers:

- Littman Jewelers
- fortunoff
- Ross-Simons
- Modera
- Luxuria
- American Pearl
-

 

[fire&ice]

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On 1/16/2004 10:53:58 AM Hest88 wrote:

How...romantic. I couldn't see myself buying fine jewelry from them any more than I can see buying it at Sears.----------------

Not picking on you Hest - in fact add Lop w/ the whole Costco thing. .......WHY? I see this akin to buying a diamond off the internet. Any venue that offers a nice product at a competitive price is fair game for me.

 

[Mara]

The key wording there F&I is 'nice product'.




Different things float each person's boat... but Amazon's stones don't impress me and wouldn't even if I wasn't a diamond nut. Just like I wouldn't shop at Sears or Walmart for stones. Costco has a reputation for having some nice stuff, so I would not shy away from shopping there. But I've seen what the Sears and Walmart counters have to offer..if I were to shop there I might as well shop at a maul store...which I wouldn't do either..regardless. Didn't consider it when we started looking and wouldn't consider it now.

 

[hoorray]

I think the Costco thing is mostly about the buying environment and process. I have a hard time believing I'm going to get the knowledgable help that I would need to make a good purchase decision. I don't have a problem with the diamond being from there. I just wouldn't want to make a big decision with such a limited choice and (I assume) non-knowledgable sales people.

The one thing they have going for them is there good return policy, assuming it is the same for fine jewelry as for other things.

If Amazon developed a good search engine and stong inventory, maybe I'd consider it. However, even with that I really doubt that many people have bought a diamond off the internet without personal contact once they find a stone they are interested in -- eith by phone or email. That's usually the beginning of a dialog, and that's not Amazon's way of doing business today.

 

[fire&ice]

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On 1/16/2004 6:17:12 PM lop wrote:

I think the Costco thing is mostly about the buying environment and process. I have a hard time believing I'm going to get the knowledgable help that I would need to make a good purchase decision. ----

Lop - I guess I wouldn't give this a thought. But then my avenues have to be long & wide to buy in my industry. I listened to a Costco employee talk diamonds with someone. Jest of the conversation was pure. "This is what the diamond is (color,clarity, etc). You have a return period of X. You can take it to any appraiser you like to have it verified. If you are not satisfied bring it back." I guess I like this approach better than someone "selling" me something.

No, one wouldn't expect walmart to have the best of quality of jewelry - but - Sam's Club (owned by Walmart - named after Sam Walton) has introduced their own line of premium cut stones. You never know.

 

[hoorray]

F&I -- You are a knowledgable buyer. Most diamonds buyers -- especiallly e-ring buyers are not. THey are often first-time buyers. Thus, the Costco person may be able to read the specs to the buyers, but I would doubt they would have anyone trained to educate someone through the tradeoffs of making a big purchase like that. That coupled with the fact that I've only seen a couple of stones there at a time, so choice is limited, makes me wary.

There may be more to their process and inventory that I'm not aware of. It's just not the place at the top of my list to start shopping for a large diamond purchase.

 

[fire&ice]

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On 1/17/2004 10:31:23 AM lop wrote:

F&I There may be more to their process and inventory that I'm not aware of. It's just not the place at the top of my list to start shopping for a large diamond purchase. ----------------

Just an FYI, they do have an on-line prescense w/ GIA certed diamonds in the 1c mark & above. Nice stones w/ some decent info - but pricey compared to on-line diamond dealers.

I'm not challenging anyone's buying style. I just find it fascinating as I have been in many different buying & selling senarios. I suppose I can relate to the "wouldn't be top of my list" - thus, eliminating certain venues for time sake. But, some of my best buys have been in the most unlikely of places.

People's buying stratagies are funny. One ancedote still makes me chuckle. I had a local In.Des. contact me about a client looking for a certain piece of furniture. I had such piece in my inventory. I mailed the photos, etc to the InDe. I heard nothing. Then, my business partner calls me. He received a phone call looking for the very same piece. We send out the same pics - this time coming from a "city gallery" *and* a higher quoted price. The clients bought the piece. And, they didn't balk at the delivery fee. They bought the same piece at a higher price because of panache - pure & simple. This is the kind of buying that baffles me.

 

[hoorray]

You are right about buying styles. The story you tell reminds me very much of why some people buy from Tiffany's. Quality confidence and panache. Some people want the panache, some people want a level of confidence that "higher end" venues imply. You have to know what you are buying to have the confidence to buy from completely "unqualified sources", or not care how it turns out.

I really don't know much about what Costco carries in diamonds. I have browsed briefly, and been somewhat unimpressed, but they did have more info on the sticker than I expected, and the quality wasn't as bad as I expected. I never did get waited on to look in more depth.

 

[niceice]

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On 1/16/2004 1:25:12 PM LawGem wrote:

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On 1/16/2004 12:55:08 PM niceice wrote:



Amazon.com did indeed back Blue Nile in the beginning, or at least the same person who started Amazon.com had his fingers deep in the operations of Blue Nile in the beginning... Dig deeper.
----------------

Are you sure you're not confusing Amazon's Jeff Bezos with Microsoft's Paul Allen (who did indeed invest in BN)? I dug deeper and found nothing. ----------------

Entirely possible... It's one of those cob webs in the back of our brains type of things... We just remember that when they emerged on to the scene that they were backed by the same guy who started Amazon.com or something like that... Microsoft, Amazon, not much difference to us, it just seemed like a shame to have somebody who wasn't truly interested in diamonds enter the arena as competition, but they've been good for us in terms of all the advertising they do because it brings people to the internet to shop for jewelry...