Diamond Stud Earrings - Fair Price from B&M?

[fuzzysparkles]

As a X-mas gift, I received a pair of diamond stud earrings purchased from a reputable B&M shop. It has been mentioned several times on this forum and it happened to be in my neighborhood. The diamonds didn''t come with a certificate but they said they can provide the appraisal for insurance purposes if needed and they "only stock high quality diamonds" so I shouldn''t be worried about the lack of certificate. Also, I was told for diamonds this "small", having a GIA or AGS certificate would bump up the price of the diamond. He said that their diamond studs all fell into the AGS 1-3 categories.

I chose a beautiful pair of .72tcw F, VS2 and SI1, four-prong platinum earrings. No details on cut. Price.....$3K, including markdown.

So, I come home and do some online browsing, and check out similar diamonds on WF, GOG and S&S....and see that I could''ve gotten similar pairs for almost $1,800 less or better ones at the same price.

I understand that B&M stores have a mark up and I chose a B&M because I wanted to support a local merchant. But was this a "fair" price amongst B&M retailers? Or should I have taken my business elsewhere? This establishment apparently does have a "match" policy but not sure if that includes online vendors. I''ll be calling them on Monday to see.

I love these earrings and think they''re beautiful. But I don''t want to feel like I overpaid too much.

Cheers!

 

[MissCongeniality]

Sorry, I''m new to this board...but can anybody please tell me what B&M is?

I get all the other abbreviations...but this one is just stumping me!

 

[Mara]

Wow I have to say I think you seriously overpaid for that particular item based on the information given.

I know all about B&M markup and for some it is worth it, and I could agree on certain items or with a small % of markup, but that is alot of markup on an item like that.

My hubby bought my first pair of diamond earrings from a local friendly jeweler who my friend's family does business with. He got 1ctw H VS for $2400. This was about 5 years ago mind you. When I found PS two years later...I saw that this same set of 1ctw H VS's with an IDEAL CUT pair of stones, not the icky yicky pre-set stuff that we had (BAD 65% depth and 63% table stuff...icko!) was $2k. Well talk about a big difference. Not only would the internet ones have looked LOADS better but they would have been cheaper. Since learned the lesson on that one, especially since I am such a believer in cut now.

Anyway, personally I think that in-person service is nice when it doesn't carry such a steep price tag. I am willing to pay markup for certain things, but something like a basic pair of diamond earrings that is not the case at all.

I would see if they would match internet pricing or at least come closer....pay a few hundred more but $1200? That's almost another pair of diamond earrings!

 

[callista]

B&M stands for brick and mortar. I was stumped for a while too, so don''t feel bad!

 

[valeria101]

Date: 12/25/2005 1:19:38 AM
Author:fuzzysparkles

I understand that B&M stores have a mark up and I chose a B&M because I wanted to support a local merchant.

But was this a 'fair' price amongst B&M retailers? Or should I have taken my business elsewhere? This establishment apparently does have a 'match' policy but not sure if that includes online vendors. I'll be calling them on Monday to see.

I love these earrings and think they're beautiful. But I don't want to feel like I overpaid too much.

Cheers!

Does 'support to local businesses' include large donations? There must be a charity around who needs it more.

Maybe the markup seems fair to the seller, but it doesn't sound fair to you. In your description of the transaction there is no apparent service for the 60% markup. Considering lab certification such service... quite on the contrary. Perhaps choice is a service... but it doesn't sound like you had much to choose from either, given the price constraint and markup.

It makes a world of sense to get you cash back and spend it where it is getting its worth.

 

[Dancing Fire]

Date: 12/25/2005 1:19:38 AM
Author:fuzzysparkles

I understand that B&M stores have a mark up and I chose a B&M because I wanted to support a local merchant. But was this a ''fair'' price amongst B&M retailers? Or should I have taken my business elsewhere? This establishment apparently does have a ''match'' policy but not sure if that includes online vendors. I''ll be calling them on Monday to see.

I love these earrings and think they''re beautiful. But I don''t want to feel like I overpaid too much.

Cheers!

i rather buy jeans and sneakers for my kids,then for his.

 

[Patty]

To give you an idea...here is an F, VS2, .36c with a GIA certificate for $626...

http://www.whiteflash.com/round_ideal_cut/Round-Ideal-Cut-cut-diamond-2045572.htm#

Say you buy two of those and then add platinum 4-pronged baskets for $525...

http://www.whiteflash.com/Fine-jewelry/Diamond_Studs_for_Earring_Builder/Settings-only--Diamonds-not-included_952.htm

You then have a pair of certified ideal cut diamonds for under $1800.

So yeah, you overpaid by at least $1200. That is a lot.

Can you return them? I agree that a B&M is entitled to make some profit but that much is excessive.

 

[fuzzysparkles]

Thanks everyone for your responses. I had a feeling that I overpaid once I saw the various diamonds on WF, especially with the GIA reports.

I did call the store back today. Spoke to the salesperson (I think he may be the owner)....and explained to him what I found. And he agreed to refund me $600 and he didn''t dicker about it or make excuses, which I appreciated. I didn''t want it to become nasty.

So yes, it was a costly lesson, though I ended paying up now only about $600 more than I would have by buying online. Was it worth it? Well, I love these earrings and don''t want to exchange them or get another pair. And already I''ve been asked about what I''d like for next year. So, I''ll definitely be sure to do some better homework. Would I use this store again? Yes. I know now that if I have the information with me, it won''t be an issue. And I like building a relationship with them so I will be able to use them in the future. Would I consider using an online vendor in the future? Yes, definitely. But if I can get the B&M to match prices, it''s nicer to be able to talk to some one in person.

This forum is great! Thanks again.

Happy Holidays!

 

[Mara]

Sounds like a great resolution to the issue, fuzzy...I think it was great that he did not haggle or question what you found, but was willing to make an adjustment to make a client happy....keeping you as a client for the future!

When you are ready for your next purchase, DO come and check out PS....there are lots of imaginative ladies around here just dying to help you out with ideas...hehee.

 

[Kaleigh]

That was not only nice of him but very smart of him as well. You are a satisfied customer and will go back to him again I''m sure. But buying online, you do save a bundle. Glad everything worked out for you!!