B&M matching online vendor

[LGail]

The local B&M I have been working with agrees to match the price of an online vendor. I have found two diamonds online that are VERY comparable to the stone I am looking at in the store by using the GIA cert and Sarin Report. The online diamond is about $900 less. I am going to send him a copy of the Sarin and the GIA cert, but should I tell him which vendor it is coming from? Does that matter?

Also, the stone in his store is EGL-USA and the stone online is GIA cert, shouldn''t an EGL-USA stone usually be cheaper?

 

[oldminer]

A B&M store that is willing to match an Internet vendor's price on a virtually identical diamond is almost unheard of. Sure, it might happen, but a real store can't operate on the lowest Internet margins and provide the levels of service available in a store.... It is simply a very different environment. You can't compare a supermarket to a fine restaurant even if the store will cook it for you and you can eat it at a table near the front of the store, it isn't a fine dining experience.

Then, toss in the old EGL versus GIA differential. You are about to allow yourself to be assaulted. Please, compare apples to apples. EGL is not the GIA and while they could be, I doubt it will ever happen. How much differential in value will there potentially be between diamonds graded in labs using different masters and systems? I'd say enough that you can't rely on the outcome or know the results will work for this deal. BE VERY CAREFUL..

 

[LGail]

The specs on the diamond in the B&M is as follows. This is EGL-USA certed and I know that this is a beautiful diamond.

1.24 ctw RB H, VS1
6.89 x 6.83 x 4.27
Crown Height: 15.1%
Depth: 61.9%
Table: 55.2%
Pav Depth: 43.4%
B&M is quoting $7200

The online diamond that I believe is comparable (based on specs) is GIA certified.

1.22 ctw RB, H, VS1
6.92 x 6.95 x 4.22
Crown Height: 15.3%
Depth: 61.1%
Table 56.3%
Pav Depth: 43.3%
Onlien Vendor quoting $6,425

I realize that the B&M might not match exactly due to overhead costs etc. but I would definitely be willing to go with him if he got close. It is worth my $$ to be able to see everything first. And my comment about EGL and GIA…I don’t have any experience with one or the other, I am just going off of what I’ve read and off the vendors websites that EGL is almost always at least a couple hundred dollars cheaper since their grading is known to be less strict (that’s what I’ve heard). So do you think these diamonds are close based on specs?

 

[baltneu]

LGail
Re-read, and then read again, Dave Atlas's response to you. Enough said.

 

[LGail]

On 7/26/2004 1:22:46 PM oldminer wrote: <hr size="1"

Then, toss in the old EGL versus GIA differential. You are about to allow yourself to be assaulted. Please, compare apples to apples. EGL is not the GIA and while they could be, I doubt it will ever happen. How much differential in value will there potentially be between diamonds graded in labs using different masters and systems? I'd say enough that you can't rely on the outcome or know the results will work for this deal. BE VERY CAREFUL..----------------[/quote]


I'm sorry but I guess I don't understand what this means. I'm taking it that I can in no way compare these two stones since one is EGL and the other is GIA. Am I even understanding this along the right route? Sorry, I am just really knew to this whole GIA/EGL...etc. stuff. Thanks.

 

[strmrdr]

I dont think its that bad a deal.
egl usa should be close and if LGail likes the stone I think its a decent deal.
Yes it is more than an egl-usa stone online but compared to the usual b&m pricing it sounds good to me.
Unless im missing something I dont see an assault?

5800 or so online for a egl 1.24 h vs1 vs 6400 at a b&m so there is still a b&m margin there.

For egl stones
http://www.buydiamonddirect.com/

Is where I got the prices.

 

[strmrdr]

Also if the stone is from a virtual list there is no reason they cant match prices they call it in and pay for it just like the online guys do.
They dont really have anymore expence than anyone else on that stone and some are starting to look at it like its better to make some profit on the stone + setting profit than $0 if they lose the sale.

 

[sfanta123155]

LGAIL...What about sales tax? Did you figure that into the mix? Online buying has no salestax...

 

[glitterata]

I didn't really understand what Dave was saying either.

But maybe you should make the sale contingent on the stone checking out with a trustworthy independent appraiser (like Dave). That way, if it checks out, even though it's EGL you can be pretty confident it really IS an H VS1. If it isn't, you won't have to buy it.

Maybe even make a deal that you'll pay for the appraisal if it turns out to be H VS1 or better, and he'll pay for it and you can return the stone if it doesn't.

 

[baltneu]

LGail
It has been said on this site that EGL and GIA are NOT equivalent. Read some of the threads on what some experts say. If you could find 2 identical stones, for example, and one was GIA and one was EGL, the EGL should be less money. If they are equal in price, something may be wrong. Good luck with whatever you do.

 

[LGail]

I am about 95% positive that I am going with the online vendor. Henry at Whiteflash has been wonderful and I believe that he has some great prices for the quality service I have been given up to this point (Plus his stone is GIA certified). Working with Whiteflash makesme excited about the buying an engagement ring process, working with the B&M did not.
Thank you all for your input.

 

[oldminer]

With the above posting, you can see that there may well be some good B&M retailers who will match or beat certain Internet prices, and give you a retail store experience, too.
This is great for consumers to have choices. Stores can compete with the Internet, but only if they decide they want to do it. It takes money, guts and a change of business procedures to make it viable. I applaud those who agredsively compete rather than give up.

Again, don't confuse values by assuming any lab equals any other lab. Compare like labs and grades only. Don't cross up the values with lab reports from differing places. It will confuse the issue to the point where no one can explain how to figure it out.