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Ethical Question about ering setting

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neatfreak

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So we have been working with a wonderful vendor who has found us a gorgeous diamond, which I will see in person and decide for sure on tomorrow. Barring anything crazy, we plan on purchasing the diamond from the vendor we have been working with.

The problem comes in with the setting. Our vendor can get us the one we want (but it is not something he stocks) and gave us what we thought was a competitive price for it. Wanting to make SURE it was the one I wanted, I went to a local B&M this weekend to try it on. Being polite, I took the man''s card after I tried it on and noticed that he had written down the details and price on the back. It was $500 LESS than the price that our vendor quoted us. Same thing, same metal, my size and the correct size for my diamond.

I left, a bit puzzled, and called back today to make sure he hadn''t quoted the price for WG instead of plat. He said that the setting has been in his shop for awhile because the setting hasn''t been popular in the area (the jewelry shop is in a yellow gold and marquise type of town and the setting is plat. and pave), and that he doesn''t raise prices and that the setting had been priced when plat. was cheaper, hence the much cheaper price. He also said he would be happy to set our stone in it, free, and that his insurance would cover it while it was being set.

What do we do??? Considering our entire budget is less than $5,000, $500 is a significant amount for us. Is it rude to let our vendor know that we would love to purchase the setting from him, and then ask him if he can work with us? Even meeting us halfway would be fine...I just don''t know what to do. I feel badly not buying the setting from him after he has been so nice and knows that we were thinking about buying it from him.

Suggestions?
 

luckystar112

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Jan 8, 2007
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You''re spending thousands of dollars on a diamond from the vendor....I''m sure that''s enough! I say get the setting from the jeweler, and put the $500 toward the wedding.
 

Cehrabehra

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Jun 29, 2006
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given the choice I''d get it locally so it can be serviced locally :)
 

Kaleigh

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Date: 3/24/2007 5:27:01 PM
Author: Cehrabehra
given the choice I'd get it locally so it can be serviced locally :)
Ditto. I think buying the stone from the vendor is plenty. Having a local jeweler set it in the setting you want for less, just makes sense. Plus down the road you will have this jeweler look after the ring and service it.
 

neatfreak

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Thanks everyone for the opinions. I appreciate it and it was also what I was thinking...but I didn''t want to tick anyone off and I wasn''t sure if it was bad etiquette. I am going to just tell my vendor the truth and see if there is anyway he could come close to the price, otherwise I''ll buy it locally.

The jeweler is not local to me unfortunately...but IS local to my parents, and I don''t think they are planning on moving ever, so it will be fairly convenient. They are also well known in the community and the owner is super nice and very honest. So I am very comfortable with them.

I just feel so bad all the time...for everything! It is SOOOO easy to make me feel guilty! I need to grow some cojones.

 

denverappraiser

Ideal_Rock
Trade
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Jul 21, 2004
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8,751
What ethical question? Just be honest with them.

"I love the diamond but I think your price on the mounting is a little high." If you would consider buying from them if they will lower the price, tell them that and see if they will sweeten the deal. If not, politely thank them for their offer and buy your ring elsewhere.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 

jaz464

Ideal_Rock
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Jul 11, 2005
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2,022
For me this is very black and white. Get the diamond from the first vendor. Tell him/her about the lower price on the setting you saw elsewhere. If he can match it, great. If not, get it from the cheaper vendor. I would not pay $500 more just because you are dealing with the diamond vendor first.
 

Moosejaw

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285
I actually regret buying from a local vendor, eventhough they were very nice.

I paid about 1000.00 more than I should have, however she was willing to ship it out of state to get around the sales tax and be more competetive.

After following this board for a few years, I would look out for you and your wallet. I would find a similar or better stone for less online from a reputable dealer, and same witht he setting. I would avoid sales tax, get THE best price, since none of this is based on friendship. Its based on you being happy and comfortable spending alot of money on exactly what you want.

You and the jeweler should not take anything personally. I also feel if youve been doing research on this board, your knowledge should help you make a better decision than most.
 

neatfreak

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Date: 3/24/2007 6:02:25 PM
Author: Moosejaw
I actually regret buying from a local vendor, eventhough they were very nice.


I paid about 1000.00 more than I should have, however she was willing to ship it out of state to get around the sales tax and be more competetive.


After following this board for a few years, I would look out for you and your wallet. I would find a similar or better stone for less online from a reputable dealer, and same witht he setting. I would avoid sales tax, get THE best price, since none of this is based on friendship. Its based on you being happy and comfortable spending alot of money on exactly what you want.


You and the jeweler should not take anything personally. I also feel if youve been doing research on this board, your knowledge should help you make a better decision than most.
Just to be clear, I am buying the diamond from a very well known online vendor that was recommended on PS. We are certainly not getting taken for the stone, it is a competitive price. Just wondering the etiquette about the setting and buying THAT locally. Thanks for the warning though. Duly noted.
 

Moosejaw

Shiny_Rock
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285
Ahh...

I thought you were buying from a B&M. I misread obviously.

I cant wait to see it. It was already said...just be honest. See if they will match the price.
 

neatfreak

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Date: 3/24/2007 6:25:10 PM
Author: Moosejaw
Ahh...


I thought you were buying from a B&M. I misread obviously.


I cant wait to see it. It was already said...just be honest. See if they will match the price.
No worries, I didn't make it clear in the original post that the vendor was an online/PS one. I can see it in person tomorrow because he happens to have a weekend home near my parent's house and it just worked out that we would both be in the same town on the same weekend, so he offered to meet me here (I live halfway across the country usually).

I can't wait to see it either! I will make sure to post when I finally get it. Thanks for your input!
 

kcoursolle

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Jan 21, 2006
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10,589
Nothing to feel bad about. In a nice manner simply state that you saw a very similar setting in another store for $500 less. Tell him you''d really like to do business with him, but think that you should get the best price and ask if there was anything he can do to lower the price.
 

Unearthed

Shiny_Rock
Joined
Feb 14, 2007
Messages
103
Getting the best deal for yourself is not unethical. You can tell them the truth about finding it cheaper or you can just tell them you''ll take the diamond and you need to keeping searching for a setting.
 

gailrmv

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Nov 8, 2005
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3,136
Date: 3/24/2007 5:52:29 PM
Author: jazmine
For me this is very black and white. Get the diamond from the first vendor. Tell him/her about the lower price on the setting you saw elsewhere. If he can match it, great. If not, get it from the cheaper vendor. I would not pay $500 more just because you are dealing with the diamond vendor first.
My thoughts exactly.
 

mrssalvo

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Jan 3, 2005
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19,132
Date: 3/24/2007 5:50:26 PM
Author: denverappraiser
What ethical question? Just be honest with them.


''I love the diamond but I think your price on the mounting is a little high.'' If you would consider buying from them if they will lower the price, tell them that and see if they will sweeten the deal. If not, politely thank them for their offer and buy your ring elsewhere.


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

Professional Appraisals in Denver
agree with this 100% and this is exactly how I''d do it.
 

Diamond*Dana

Ideal_Rock
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Jul 21, 2006
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7,194
I agree with being honest...I would simply say that we found the exact setting for $500 less. If he is able to come down in price, great! If not, save $500 and get it locally. Good luck!
 
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