buy online....can I still negotiate price?

[smithy617]

Good afternoon,

I been doing alot of research and is about to pull the trigger. If I do purchase from a PS vendor, can I negotiate on the price of a diamond? If so, about how much? I notice that you can get around 5% off by bank wire, but can you still bargain?

Thanks,

Smithy

 

[Lorelei]

Date: 6/21/2008 1:08:21 PM
Author:smithy617
Good afternoon,

I been doing alot of research and is about to pull the trigger. If I do purchase from a PS vendor, can I negotiate on the price of a diamond? If so, about how much? I notice that you can get around 5% off by bank wire, but can you still bargain?

Thanks,

Smithy

Welcome Smithy!

You could certainly ask, but online vendors are operating on pretty slim margins as it is, so you may find the bankwire discount is the best reduction for you.

 

[jcrow]

you won''t know unless you ask

i''d say try, but don''t expect too much. maybe $100, and at that point is it even worth it?

 

[denverappraiser]

As mentioned above, it never hurts to ask. The top strategies I’ve seen for beating up online diamond dealers on price are:

1) One of your competitors has the exact same stone listed for a lower price (include link). Ask them to price match.

2) One of your competitors has a similar stone listed for sale for a lower price (include link). Ask them to explain why theirs is worth more and perhaps either match or at least bring down the difference. They may have other similar stones that they can offer at a more competitive price if you don’t like the premium associated with that particular stone.

3) Namedrop Pricescope.com.

4) Look for the wire transfer payment option, especially if the purchase is OVER $10,000 or you are in a different country from the seller. Although this loses you the protections afforded by the credit card companies, these transactions get into the banking security laws which, at least in the US, are actually pretty good. For international transactions it gives you more options with regard to foreign exchange rates. Some of the CC companies are pretty bad here. Do not do this if you have the slightest trepidation about the dealer.

5) There may be tax savings available based on where you take delivery. Again, this is important for international transactions but certain states have no sales or use taxes. If you are in the same state as the seller and prefer to take care of your own taxes rather than having them charge you at the time of sale, consider using an out-of-state appraiser.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[smithy617]

great info...thank you so much