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Diamond Wholesale price or not?

coachdiva

Rough_Rock
Joined
Jul 6, 2011
Messages
6
I was given the following price for a round diamond with the following specs:

2.03 Carats, I color, VS2 inclusions, EX cut and symmetry, 8.1x8.14x5.03 measurements, 61.9% depth, 56% table, no fluoresence, $ 22K

My research has indicated this is retail. Can anyone comment?
 

slg47

Ideal_Rock
Joined
Apr 4, 2010
Messages
9,667
if someone is selling to you, then it is retail.
 

denverappraiser

Ideal_Rock
Trade
Joined
Jul 21, 2004
Messages
8,825
What is 'wholesale price'? For that matter, what is 'retail'? Not all dealers buy form the same sources, not all deals come with the same terms and not all business-to-business deals are at the same prices. The same questions hold for sales to the end consumer. They don't all land at the same price and they don't all have the same t&c. Details matter. I'm not trying to dodge your question, it's just not as simple as you're dealer is telling you. It's easy enough to shop the database here for offers of comparable stones from some highly competitive dealers. These are ALL 'retail' offers of items that are available for immediate delivery (with the occasional glitch thrown in) and I would guess that there are dozens of similar stones for sale. That's a pretty good benchmark to work from to decide if you're dealer is competitive and it's FAR better than some claim of 'wholesale' pricing, no matter what the source.

By the way, if it's being offered for sale as a individual item and to the end consumer, that's the DEFINITION of retail.

ETA: What lab did the grading?
 

coachdiva

Rough_Rock
Joined
Jul 6, 2011
Messages
6
denverappraiser|1312823700|2986535 said:
What is 'wholesale price'? For that matter, what is 'retail'? Not all dealers buy form the same sources, not all deals come with the same terms and not all business-to-business deals are at the same prices. The same questions hold for sales to the end consumer. They don't all land at the same price and they don't all have the same t&c. Details matter. I'm not trying to dodge your question, it's just not as simple as you're dealer is telling you. It's easy enough to shop the database here for offers of comparable stones from some highly competitive dealers. These are ALL 'retail' offers of items that are available for immediate delivery (with the occasional glitch thrown in) and I would guess that there are dozens of similar stones for sale. That's a pretty good benchmark to work from to decide if you're dealer is competitive and it's FAR better than some claim of 'wholesale' pricing, no matter what the source.

By the way, if it's being offered for sale as a individual item and to the end consumer, that's the DEFINITION of retail.

ETA: What lab did the grading?

Thank you for the great detailed reply. The price is very similar to pricescope so I question the price. I was told this was their "cost" and indeed it might be from the variations but it's not the best that I can do. It's GIA.
 

denverappraiser

Ideal_Rock
Trade
Joined
Jul 21, 2004
Messages
8,825
The pricescope dealers are pretty aggressive pricewise but they're not charities. There's no selling for cost going on around here. Local stores can compete on price if they want to but they usually have a more costly business model and they find themselves in a pinch when they try. That's their issue and it's up to them to convince you that their 'value added' is worth the price but I flatly disbelieve that your guy makes a habit of selling things for cost unless he/she is using a seriously goofy definition for 'cost' (like it does when car dealers use this word for example). Not that it matters. Keep your eye on the ball and on the deal at hand. What he paid is irrelevant. It's all about what YOU want, what you get, what you have to pay to get it, and what it would cost to get it elsewhere. He can call it 'wholesale' if it makes him feel better but that doesn't change anything at all. This claim used to bug me but it's now so common that I barely even notice. Most jewelers now seem to call themselves wholesalers.
 

Rockdiamond

Ideal_Rock
Trade
Joined
Jan 7, 2009
Messages
8,406
I feel that any seller using that label is showing a disregard for accurate representation. They know what Neil and slg47 outlined.
Someone being willing to stretch the truth is certainly not a "sterling recommendation" by any means.
If they're willing to use deceptive terminology on one area, why not other areas as well....at least that's how it seems to me.
 

denverappraiser

Ideal_Rock
Trade
Joined
Jul 21, 2004
Messages
8,825
David,

I basically agree with you. I just find I have to pick my battles. There are so many other offenses that are more egregious (bogus labs, fantasy grading scales and ficticious 'appraisals' for example) that I decided to let this one slide. Customers have been so trained that 'wholesale' means low prices rather than sales to dealers that that it has lost nearly all meaning. I guess what pushed over the edge was the word 'WHOLESALE' in 4 foot tall letters on the wall at Costco. Really? Dealers are certainly welcome to shop there and buy things for resale, and occasionally they do, but that's obviously not what's going on in there on a continuous basis.
 

coachdiva

Rough_Rock
Joined
Jul 6, 2011
Messages
6
Thank you for your replies. I wanted to make sure I was being fair and I will not be proceeding with this purchase or anything else for that matter from this jeweler.
 

Rockdiamond

Ideal_Rock
Trade
Joined
Jan 7, 2009
Messages
8,406
Hi Coach- I beliebe Neil and I are discussing general terminology, and it may not apply to your situation ( or seller)- did the seller you're asking about make a big deal about "selling wholesale"?
 

coachdiva

Rough_Rock
Joined
Jul 6, 2011
Messages
6
Rockdiamond|1312838829|2986720 said:
Hi Coach- I beliebe Neil and I are discussing general terminology, and it may not apply to your situation ( or seller)- did the seller you're asking about make a big deal about "selling wholesale"?

Yes Rockdiamond. In fact they went on to say they were providing it to me at cost.
 

Rockdiamond

Ideal_Rock
Trade
Joined
Jan 7, 2009
Messages
8,406
Another pet peeve of mine.
When sellers try to pull that on me I simply tell them their cost is entirely irrelevant to me.
I tell them I hope it cost them one penny- but if it cost them a million dollars I don't care- it's still worth the same thing to me.
Why would someone sell at cost?
It's such an insult to the intelligence.


OK- now I'm with you- ditch these peckerweeds!
 
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