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Good price for Brick & Mortar Store? (What do Resellers buy at?)

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dbretton

Rough_Rock
Joined
Dec 1, 2002
Messages
50
Hello all,

I am in the market to put together an e-ring. I recently attended one of those "million dollar" diamond events at a local mall jeweler, and worked on getting a deal for a diamond. Here were the specs:

1.16 / H / VS2 / 55table / 60.3 depth
GIA cert / Polish VG / Symm. VG / Fl. none
girdle / thin -> sl. thick

They initially offered to sell at $9k, but after negotiating (and having them bring out the RAP sheet), they made a final offer of RAP price ($7.1k).

I still wanted to do a little better, but they wouldn't budge. I figured that they had to have purchased the diamond somewhere between 5-15 back of rap, for them to come down to rap.

My questions:

1) Was this a good deal?
2) Was this a good deal with the qualifier that this was an offer from a brick and mortar store?
3) What price do diamond stores typically buy their diamonds at, with respect to RAP sheet pricing?

Thanks again!

Regards,
Dennis
 

NYSP

Rough_Rock
Joined
Sep 19, 2002
Messages
6
Shop around some more. The RAP sheet is not what the B&M store paid. I purchased a stone from a B&M store that was 7% off the RAP cost. Look at some of the internet sites, find a stone that is comparable, and use that price as a bargaining tool.
 

Rhino

Ideal_Rock
Trade
Joined
Mar 28, 2001
Messages
6,271
Be careful with RAP. While it is good info to have it is certainly not the end all/be all for pricing. In the hands of a pro is an invaluable tool but in the hands of a consumer could lead one to false conclusions.

For example I can purchase stones that to a consumer would appear to be the same kind of stones on paper yet their discount from RAP can vary by as much as 10-15%. The amateur would think they're getting a better deal on the one stone that was 15% cheaper yet there are features about that stone, were they to know, would immediately disqualify it from their purchasing decision.

You've often heard it said ... buy the diamond not the price. The store was able to come down from 9k to 7k? If the stone is so valuable why were they able to drop this much in price? It'd be interesting to know what angles we were looking at here and also what kind of variances.

Regards,
Rhino
 

Colored Gemstone Nut

Ideal_Rock
Trade
Joined
Nov 21, 2002
Messages
2,324
DBRETTON-
I would like to offer my own personal advice. If your in the market for a stone and it seems you have a budget for what you want to spend. If it is in the 6-$7000 dollar range I would invite you to check out the good old gold website. They have ideal cut hearts & arrows diamonds accompanied by Gia certificates exhibiting Excellent in both symmetry & polish. Why pay the same if not higher prices for a diamond, when you can get a diamond superior in cut quality and overall brilliancy. Educate yourself and shop around. You will find you will be able to get a diamond with much better stats and overall brilliancy in the color and clarity grade your looking for at a much better price. I am just partial to Jonathan because I have dealt with him personally and am in the process of purchasing a stone from him, but you have many options. I'll think you'll find his service to be top of the line. I know I did and believe me the past 6 months I have done a lot of shopping around. Either way I hope you check out his site. None the less it is very educational and could help you make a more informed decision about what your buying. I would also suggest you check out his inventory.

Take it easy-
Josh:loopy:
 

dbretton

Rough_Rock
Joined
Dec 1, 2002
Messages
50
Hello "Rhino",


The amateur would think they're getting a better deal on the one stone that was 15% cheaper yet there are features about that stone, were they to know, would immediately disqualify it from their purchasing decision.


What kind of features would these be? Are these the cut features (H&A pattern), or something else?


If the stone is so valuable why were they able to drop this much in price? It'd be interesting to know what angles we were looking at here and also what kind of variances.


Good questions. My only guess as to why they could discount so heavily was due to the fact that one of the owners of the chain was on site that day, and was approving all the prices.
As far as the angles and variances go, I wish I knew as well, as it was GIA, not AGS, certified...

Regards,
Dennis
 
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