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Dealing with B&M store

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nicktenny

Rough_Rock
Joined
Aug 28, 2008
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23
Just a little story for those of you that have been looking online and at B&M stores...

I started my search going to a local store so I could see some diamonds first hand to see what I liked. The sales associate was very helpful and very attentive to my needs. After looking there and onine, I emailed back and forth with the associate telling her I was trying to choose between buying from her and online. She answered many of my questions and ultimately said I should do what I think is best. She said she would do a search for me based on my criteria to find good values.

When she sent me the finalists, I found the exact stones online and pointed out that they were $2000-3000 less expensive online. She said they could go down $500 and that was it. I told her thanks, but informed her that I would be buying online due to the price difference.

Anyhow, after a day and a half, I received a call from her telling me they could drop their prices to the range of the online stones with a few stipulations (no credit card payment, etc).

I go in tomorrow to see the stones. Being able to examine a few stones next to each other and still pay an online price is great. Of course, they will still have to be excellent quality for me to buy them.

I''m not saying all stores will do this. I had to tell them I wasn''t going to buy to get their "best deal". But it does show that these stores do have a large mark-up and that you can find equivalent (and often better) diamonds online at a great price.

Just found this interesting and wanted to share.
 

JulieN

Super_Ideal_Rock
Premium
Joined
Jul 25, 2005
Messages
13,375
that''s great, nicktenny! tell us how it goes tomorrow
 

dbsdiamonds

Shiny_Rock
Joined
Jul 29, 2008
Messages
155
Great info. Word of caution...most B and M''s won''t sell a product at the thin margins of the competitive online companies. They "can" but they "don''t". Their object is to "fear" people into believing some warranties are worth paying thousands more when renter''s or homeowner''s insurance is the ticket.

So the slight of hand can be changing the certs from GIA to EGL or changing dynamics of the search to help get their costs down to supposedely "allow" them to sell it at internet competitive pricing.


Bottom line is, if a diamond costs $5k and online you can get for $5400, and the BandM is trying to pop you for $7500 minimum, THEIR cost is $5k also if they are doing an "apple to apple" comparison. Clearly exposing their markup, and remember, this is after you beat them up over and over.

Think about the poor souls who buy there because their mom or dad did years ago or some other nonsense like 6 months interest free gimmicks and what not.

Marty
CEO/Pres
Diamond Brokerage Service, Inc
www.dbsdiamonds.com
 

Skippy123

Super_Ideal_Rock
Joined
Nov 24, 2006
Messages
24,300
Great!!! keep us posted!
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marcy

Super_Ideal_Rock
Premium
Joined
Feb 27, 2007
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26,319
Sounds like a great deal. Let us know how it turns out.
 

nicktenny

Rough_Rock
Joined
Aug 28, 2008
Messages
23
so...went to the store, looked at 3 diamonds and really liked one. Bought it at the online price and having the dealer mount it in the Ritani Endless Love setting (w/o halo). It is an EGL rated stone, but I was comfortable with it since I was able to examine it in person. Now I just have to wait 4-6 weeks for them to order the setting and mount the stone. All and all, a good result so far, even if it did require some bargaining.

Just as a note to others looking around, I would highly suggest buying an AGS or GIA stone if you are buying online, sight unseen. Just as others have indicated, I found that EGL stones often do not live up to their ratings.

I''ll include pics once I have the ring.

Pricescope rocks! I would have been lost (and probably out a few thousand dollars) without you guys.
 
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