Different prices, same stone. Help!

[diannec18]

Maybe this is incredibly common, but I just found a stone I'm considering buying on another website for about $100 less than the price JA is offering it at. Actually, it's listed on a ton of sites, which is super confusing, because JA has told me that they are putting this stone on hold for me, so I don't know what would happen if one of these other sites sold it. Can someone please advise me on what to do in this situation? Should I expect JA to lower their price to match the competitors?

 

[Texas Leaguer]

Almost any website can clone listings from international databases and offer them for sale. Some of those sites have close working relationships with the manufacturers, other have no relationship at all. But only one company can actually provide the stone! This is one of the challenges in shopping "virtual" inventories.

A company that can deliver and also can provide additional benefits is usually not the one offering the lowest price!

 

[pfunk]

It's really common to have this happen. Google a GIA report number and you will see several vendors listing it. Obviously if a vendor does a lot of business with a particular supplier, they may pull enough weight to have the supplier hold the stone for a client. But the hold is usually pretty short because that supplier wants to sell the stone and doesn't want it tied up.

If another vendor listing the stone would happen to sell it, they would contact the supplier and find out it is on hold for another vendor. They would have to bring this news to the customer and let them know what is going on. When selling from a virtual inventory, things like that are going to happen from time to time, and they indeed do happen. Thankfully, usually the customer is in communication with the vendor and they would find out prior to purchasing that the stone is currently unavailable. I don't think many people spend thousands on diamonds without first inquiring about them with the vendor.

It is one of the drawbacks to purchasing from a vendor who sells virtual inventory, but as Bryan said it usually means lower costs for you as the consumer. Also, many vendors with virtual inventories can and do offer additional information on the stones. They may be able to share notes from the supplier as well as images and diamond scans. As you can see, it pays to shop around because different vendors will list stones for different prices based upon how much margin they need to stay in business.

 

[Texas Leaguer]

Due dilligence is always important when shopping for diamonds. When it comes to shopping for diamonds that a merchant does not own and does not even possess, it is really important to have full faith in the merchant you are dealing with. Excellent communication is vital, as is a reputation for quality control and ethics. In addition to availability issues, there are also occasional issues with the diamonds themselves upon arrival to the merchant. You want a merchant that will do careful evaluations and notify you if there is anything you need to know that wasn't specified in the representations made on the webpage.

 

[pfunk]

Due dilligence is always important when shopping for diamonds. When it comes to shopping for diamonds that a merchant does not own and does not even possess, it is really important to have full faith in the merchant you are dealing with. Excellent communication is vital, as is a reputation for quality control and ethics. In addition to availability issues, there are also occasional issues with the diamonds themselves upon arrival to the merchant. You want a merchant that will do careful evaluations and notify you if there is anything you need to know that wasn't specified in the representations made on the webpage.

^ Absolutely! And I would add that getting an independent appraisal from a well qualified appraiser is WELL worth the cost for both insurance peace of mind and personal peace of mind that what you got is exactly what was described to you.

 

[diannec18]

How much do appraisals typically cost, and how do I find an appraiser in my area?

 

[Texas Leaguer]

How much do appraisals typically cost, and how do I find an appraiser in my area?

It depends on the appraiser and on what services you want. If you are planning on insuring it you may want to have a discussion with your insurance company first to see what they require. If all you need is a basic verification that the diamond you purchased is the same as the diamond received and perhaps a consultation where any questions you have can be answered, that would be the least expensive route typically. But again it depends on the appraisers in your area and their particular rates. You can call around and find out.

Make sure that the appraiser you use has proper credentials and that they are not involved in buying and selling. Only then will you get a qualified and unbiased assessment.