different $ for same diamond online

[Green with Envy]

I know there have been many posts about finding the same diamonds online at much better prices than what you would pay at a typical jewelry store. What is the best way to handle a situation when you search online and find different prices among PS venders for the exact same stone? If other benefits are the same (lifetime trade up, etc.) do you go with the least expensive? Do you ask them if they will price match? What is the proper etiquette?

 

[johngalt2004]

The prices are usually different by a negligible percentage. I''d be shocked if any vendor here didn''t cheerfully pricematch. They just don''t have time to proactively out-bid each other constantly on the virtual list diamonds - there are thousands of them.

I would choose a vendor who has helped me either directly or indirectly with their posts here on PS, and give them the business (I don''t think they would be insulted if asked to pricematch Union Diamond, Azabias etc for the same diamond from the virtual list).

 

[Green with Envy]

Thanks. The price differences are around 10% higher... but that seems like a lot of money when you are talking about a diamond!

 

[KtIceRN]

I would definitely chose a vendor that I am comfortable working with. I''m gonna guess that most PS vendors will price-match another PS vendor. It certainly can''t hurt to ask!

Your not only paying for the diamond but for the customer service as well. I think that that is a huge part of the buying experience.

 

[Skippy123]

Date: 11/12/2007 12:00:29 PM
Author: KtIceRN
I would definitely chose a vendor that I am comfortable working with. I''m gonna guess that most PS vendors will price-match another PS vendor. It certainly can''t hurt to ask!

Ditto

 

[johngalt2004]

Date: 11/12/2007 11:14:15 AM
Author: Green with Envy
Thanks. The price differences are around 10% higher... but that seems like a lot of money when you are talking about a diamond!

show me. I''ve never seen that wide a disparity on the virtual list. Usually within a hundred bucks or so on a $4-5K diamond.

 

[Green with Envy]

Well, I decided to use the vender with whom I have had great customer service. However, for example...

Here is a stone listed for approx. $4300 and it can be found at other places for over $5200.

http://engagementringsdirect.com/loose_detail.php/session/cf83da5e22bc8facb5639a0326a4b2e3/id/13446129/sz/150

I do understand that you sometimes get what you pay for... meaning there can be extra benefits with the higher priced vender.

 

[JohnQuixote]

Date: 11/12/2007 11:04:26 AM
Author: johngalt2004

The prices are usually different by a negligible percentage. I''d be shocked if any vendor here didn''t cheerfully pricematch. They just don''t have time to proactively out-bid each other constantly on the virtual list diamonds - there are thousands of them.

I would choose a vendor who has helped me either directly or indirectly with their posts here on PS, and give them the business (I don''t think they would be insulted if asked to pricematch Union Diamond, Azabias etc for the same diamond from the virtual list).

There is definitely truth to your statement John, but consider also that you may be getting what you pay for:

A drop shipper who flips diamonds with no photos, information or supplemental staff will incur few additional costs. Even trivial benefits cost money. Remember, there''s really no such a thing as "free shipping" or "free lifetime resizing." Such costs are spread across overall markup for client convenience...but they do cost. Factor in what the seller offers beyond just flipping the diamond: Is this someone who is encumbering shipping & insurance expenses for bringing items in? Are photos taken? Reports run? Is someone hired to document and post information, live or online? Is someone on-staff taking giving you generously of their time, replying to your questions and concerns? Is one seller operating out of a basement while another maintains a showroom? Building security, power/water/air, payroll to maintain a qualified staff (sales, processing, gemologists, benchworkers, platinumsmiths, designers) and security costs extra.

Some sellers have been around for decades and are not going anywhere. That kind of ''brand recognition'' can be worth a premium - to know the dealer won''t disappear in a puff of smoke tomorrow. There is great security in buying from a company associated with quality and consistency. Sometimes the premium is modest, sometimes you pay much more for it (see Tiffany).

Deja vu?

 

[snuggles1]

I found my stone online from an online store, same gia, specs and everything AFTER I purchased it at a local b&m. I figure I paid for the ability to see it, touch it, walk outside with it, and work with a human. The store that originally owned the stone sends them out, has no information on them, and are difficult to get a hold of via email. The 10% extra I paid for was to see it in person, sure I could have just had it sent to me, but I wouldn't have had the opportunity to compare it to other stones as well.

The only thing I wished that I knew before was that I needed to get it appraised (I went to a appraiser recommended here who said appraisals were not necessary and that the jeweler's appraisal with just the price, ct wt, and date were enough). It's getting all that done right now at aga since I finally woke up and realized that I was losing sleep over the stone's original appraisal). Even though I can't return it anymore, it's just more of a piece of mind thing. I do wish the 10% I paid, paid for the piece of mind, but we live and learn.

 

[Sharon101]

Also, I am wondering if the cheaper places might not have first rights to the stone. ie its easy to give a bigger discount on something you dont have. Maybe the higher priced place actually has it in stock, or better access to it!!!!

eg. its easier to be more generous with your discount when you dont have the stock on hand!

 

[johngalt2004]

Date: 11/12/2007 3:50:47 PM
Author: JohnQuixote

Date: 11/12/2007 11:04:26 AM
Author: johngalt2004

The prices are usually different by a negligible percentage. I'd be shocked if any vendor here didn't cheerfully pricematch. They just don't have time to proactively out-bid each other constantly on the virtual list diamonds - there are thousands of them.

I would choose a vendor who has helped me either directly or indirectly with their posts here on PS, and give them the business (I don't think they would be insulted if asked to pricematch Union Diamond, Azabias etc for the same diamond from the virtual list).

There is definitely truth to your statement John, but consider also that you may be getting what you pay for:

A drop shipper who flips diamonds with no photos, information or supplemental staff will incur few additional costs. Even trivial benefits cost money. Remember, there's really no such a thing as 'free shipping' or 'free lifetime resizing.' Such costs are spread across overall markup for client convenience...but they do cost. Factor in what the seller offers beyond just flipping the diamond: Is this someone who is encumbering shipping & insurance expenses for bringing items in? Are photos taken? Reports run? Is someone hired to document and post information, live or online? Is someone on-staff taking giving you generously of their time, replying to your questions and concerns? Is one seller operating out of a basement while another maintains a showroom? Building security, power/water/air, payroll to maintain a qualified staff (sales, processing, gemologists, benchworkers, platinumsmiths, designers) and security costs extra.

Some sellers have been around for decades and are not going anywhere. That kind of 'brand recognition' can be worth a premium - to know the dealer won't disappear in a puff of smoke tomorrow. There is great security in buying from a company associated with quality and consistency. Sometimes the premium is modest, sometimes you pay much more for it (see Tiffany).

Deja vu?

My situation was very different - I was hijacked by a local broker who did a bait and switch and then we did the rest of the deal at the point of a gun since he had my cash and refused to release it. Sigh... next time I will do so much better. In all those posts back then I was trying to let myself get away psychologically with overpaying by about $800 to a local broker compared to a drop ship vendor. In the long run I learned to live with it.


But this case is different. This diamond is on sale at 5 places. Four of the places range 4300-4500. A fifth is undercutting everyone at 4160.. yikes. I don't see it for $5200 anywhere.

John: What would WF say if somebody said (hypothetically): "you have a virtual list diamond linked on your site for $4500 and I see the same one at another vendor that rhymes with Zangara for $4165. will you match it"?

Would WF like to get that call? I'm asking seriously. Maybe not? I thought sure they would but maybe in some cases a vendor has such a low price on a virtual stone that you won't go there?

And by the way I have not forgotten that I owe favors to both WF and GOG and will not forget.

 

[stebbo]

Date: 11/12/2007 7:30:47 PM
Author: johngalt2004

John: What would WF say if somebody said (hypothetically): 'you have a virtual list diamond linked on your site for $4500 and I see the same one at another vendor that rhymes with Zangara for $4165. will you match it'?

I'd be very disappointed in WF if they did. Doing so would devalue all their other value-added services. Devalue yourself and everyone else will soon devalue you too.

I'd expect WF to confirm that WF's pricing is current and appropriate and if so, drop the price a little if needed to persuade the buyer that they offer the better overall deal.

Also don't forget many vendors (especially virtual vendors) have no intention of selling always at the prices they advertise. Diamonds are one-off--it's far too easy to say "sorry, not available anymore".

 

[Green with Envy]

I am not interested in this particular stone- it was just one of many examples I have found. I do not want to mention anyone by name to announce maybe their prices are higher... but i will say that the place that is asking $5200 actually HAS THE STONE in their possession and they plan to do more than just broker the stone- but provide all the extras like pitcures, magnification of actual stone, etc.

 

[JohnQuixote]

John, my 'deja vu' was because my answer had the same components as the other thread (not the question).

Date: 11/12/2007 7:30:47 PM
Author: johngalt2004

John: What would WF say if somebody said (hypothetically): 'you have a virtual list diamond linked on your site for $4500 and I see the same one at another vendor ... for $4165. will you match it'?

Apples to apples? Hey, if we can drop-ship the diamond to your door from whatever virtual supplier is holding it that will lower the price by a big chunk. You won't get independent Sarin, IS, ASET or magnified photos but that saves us time & manpower in execution and posting-to-net. There will be no in-house analysis by our lab's gemologists or supplemental letter of verification from a local GG appraiser but that allows a price-drop too. Of course you understand we can't extend our normal one-year buy-back or lifetime trade-up options since we don't really know what we're sending you...but the goal is matching the lowest price, right? We're on it.

Oh wait... "Flipping diamonds" at lowest markup without ever seeing them is what has given internet sellers (at-large) a bad name in our trade. Just ask your local jeweler about the "internet jeweler" stereotype. You might get an earfull. While the no frills sales model is one approach we are a consumer protection organization and refuse to do this, as do some of our reputable peers.

Would WF like to get that call? I'm asking seriously. Maybe not? I thought sure they would but maybe in some cases a vendor has such a low price on a virtual stone that you won't go there?

Sure we'd like the call.

And, seriously, we will sell a diamond at the lowest possible price that allows us to stand behind it with reasonable gemological analysis and our normal array of purchase benefits. Bottom line, we want to be our clients' jewelers for life. We hope to demonstrate that with our commitment to expertise, consumer protection and long-term benefits that go farther than one transaction. This is just our model - we realize there are others.