B&M jeweler claims he can undercut online prices - legit?

[warbean]

Hey all,

Searching both B&M jewelers and online, one person I talked to whom I liked all but begged me to just tell him what stone I was looking at online before I bought. He says he can obtain the EXACT SAME stone as ones from Blue Nile or JA and sell it for cheaper.

As a test, I gave him the GIA cert.# for a JA stone I had seriously been considering. He quoted me a price approximately 1.5% cheaper. (About $300) He also showed me a printout showing me he had located the stone and his own cost for the stone. (he is marking it up by approximately $900)

The drawback is if he procures the stone, I am obligated to buy it and of course can not avail myself of generous online refund policies.

Is this worth it? I would like to save a few hundred if I can and walk out of the store with stone in hand and not worry about shipping. Additionally, I would have a relationship with a real person I can come back to for more work down the road.

Has anyone heard of this happening? Is it a scam or not legit in some way? Any advice either way?

 

[chrono]

Re: B&M jeweler claims he can undercut online prices - legit

If he can get you the exact same stone for less, why not? What is his policy with regards to upgrades, refunds, and returns? Your post makes it sound as though it is impossible to return the stone. I've had local B&M stores procure stones for me without an obligation to purchase and after purchase, any upgrades and refunds/returns fall under their regular store policy.

As for a working relationship, you can still have such a relationship with your local jeweller with an online stone.

 

[denverappraiser]

Re: B&M jeweler claims he can undercut online prices - legit

Money isn’t everything in a deal but yes, stores can be price competitive with the big Internet houses if they what. In both cases they’re brokering a stone on behalf of a 3rd party for a fee and if they’re both selling exactly the same stone, this is surely the case. That said, if JA and BN can offer it with a return policy, why can’t he? Is the return privilege worth an extra 1.5%? To me, yes it is. You may see it differently. I also find the credit card fees of approx. 1.5% to be a comfort when I’m not experienced with a particular merchant too by the way. When margins are tight this is usually an issue that comes up. I agree with you that it's worth more to be shopping with a local merchant but it's for mostly ephemeral reasons. I like to support my neighbors when I can.

 

[swingirl]

Re: B&M jeweler claims he can undercut online prices - legit

I am guessing you would have the B&M jeweler set the stone in his setting, so he is hoping to profit from that sale as well.

I wouldn't want to be required to buy a stone without seeing it, unless it was a small stone for earrings or something where perfection wouldn't matter to me. But for an engagement ring I'd want to see the stone and have the option of returning it.

 

[GreenBling]

Re: B&M jeweler claims he can undercut online prices - legit

Yes it can happen. My jeweller in HK offered the same. But are you certain that the stone is the one? What if you don't feel it when you see it? Can you offer to pay for shipment in case you don't want it so that you wouldn't be stuck with the stone?

 

[marymm]

Re: B&M jeweler claims he can undercut online prices - legit

Are you comparing apples to apples?

I mean, JA offers a discount to PS members of 1%-5% depending on the diamond... If you compared the JA listed price as shown on their website, it does not show the PS discount - had you already obtained the PS price for the JA stone and then your local jeweler knocked off an additional 1.5%? If you don't have the JA discounted PS price, you don't really know if your local jeweler's price is coming in lower than JA's... and it certainly sounds like your local jeweler does not offer the extensive return/buyback/ upgrade benefits and reputable customer service that JA offers.

 

[msop04]

Re: B&M jeweler claims he can undercut online prices - legit

Money isn’t everything in a deal but yes, stores can be price competitive with the big Internet houses if they what. In both cases they’re brokering a stone on behalf of a 3rd party for a fee and if they’re both selling exactly the same stone, this is surely the case. That said, if JA and BN can offer it with a return policy, why can’t he? Is the return privilege worth an extra 1.5%? To me, yes it is. You may see it differently. I also find the credit card fees of approx. 1.5% to be a comfort when I’m not experienced with a particular merchant too by the way. When margins are tight this is usually an issue that comes up. I agree with you that it's worth more to be shopping with a local merchant but it's for mostly ephemeral reasons. I like to support my neighbors when I can.

by marymm » 03 Aug 2013 09:11...JA offers a discount to PS members of 1%-5% depending on the diamond... If you compared the JA listed price as shown on their website, it does not show the PS discount - had you already obtained the PS price for the JA stone and then your local jeweler knocked off an additional 1.5%? If you don't have the JA discounted PS price, you don't really know if your local jeweler's price is coming in lower than JA's... and it certainly sounds like your local jeweler does not offer the extensive return/buyback/ upgrade benefits and reputable customer service that JA offers.

I agree with denverappraiser and marymm... Personally, I would never spend such a large amount of money on an item that I cannot see in person (virtual inventory stones) and/or cannot return it when I do see it. Sometimes a "deal" isn't really a deal when you look at everything involved. I would much rather deal with JA where I can see the stones in 3D and compare from a large inventory of diamonds for an equal (if not better) discount and a no hassle return policy. ...however, if that couple of hundred dollars is gonna break the budget...

 

[diamondsman]

Re: B&M jeweler claims he can undercut online prices - legit

Hi
I agree with most of the answers, I would think that the jeweler should give you the opportunity to see the stone and decide if you like it or not, most likely he will make the sale, if not he could probably get you another stone and eventually make a sale,
if push comes to shove you can offer to pay for shipping one way and he will pay the other way,the cost of each way shouldn't be more than $50.00,and if you buy a stone from him later on he should apply the $50.00 towards the stone you will be buying from him,(of course you need to check that the price of the new stone is also competitive)

hope this helps

by the way what shape is the stone and what clarity?