I GOT IT!!! A Better deal at a local B&M dealer than through online vendors, thanks to Pricescope

[niceguymr]

ETA: See picture of the ring here...

https://www.pricescope.com/community/threads/finally-heres-a-picture.45052/


Some of you may recall my previous posts asking to help me figure out which stone to buy.

Well, I finally made my decision and will be post pics soon... I should be picking up my completed ring on Tuesday or Wednesday.

Here are the details of my diamond:

GIA Certified
Shape: Round Brilliant Cut
Size: 1.52 Ct
Color: F
Clarity SI1 (Incredibly eye clean - just one small needle & crystal that are hard to find even with a loupe)
Measurements: 7.55 x 7.61 x 4.42
GIA Cut Rating: Very Good
Pollish: Excellent
Summetry Very Good
Culet: None
Fluorescence: None
Girdle: Thin - Medium
Table: 61%
Depth: 58.3%
Crown Ang: 31.5%
Pav Ang: 41.2%

HCA Info:
Brilliance: Very Good
Fire: Very Good
Scintillation: Good
Spread: Excellent
Overall Rating: 2.4

I'm aware the depth/table percentages are not the most ideal, however I've seen this stone side by side to a GIA Excellent and an AGS 0 and it was just as gorgeous. I expected the differences to be easily noticeable, but they weren't. The size and spread of the stone really make up for any inadequacies in cut. Quite honestly, it looks huge in comparison to other 1.5 Cts that are maybe slightly better cut. I had the opportunity to observe this stone under indoor and outoor lighting and WOW!!!

I picked a setting identical to the James Allen Platinum MicroPave eternity setting (that he sells for $1900) and the stone will be set on Tuesday after the ring gets appropriately sized.

Total cost is $10,800, out the door. If you subtract the value of the setting, all told the diamond cost me $8900 which is $1500 to $2000 less than a stone with similar specs through Pricescope vendors.

What's more, the jeweler is throwing in a complimentary insurance appraisal for the ring, as well as for my Rolex Yachtmaster which is presently uninsured. (Yes, I will be getting it independantly appraised as well, and have a 1 week full money back no questions asked guarantee) Additionally, he's offered me 1 free polish per year on the ring as I see necessary.

I truly have Pricescope to thank for helping me with this purchase. Armed with all the knowledge and information I've acquired from this website, and particularly with pricing, I was able to use it to go into my local dealer and demand they provide me with the same if they want my business. They gladly met and exceeded anything I was able to get online including lifetime trade-in and all the other great little perks you get online.

Although I was ready to use an online vendor, I'm glad that I was able to meet my needs in person, and from a local dealer who will be more readily accessible and available to help me with future purchase needs.

PICS WILL BE POSTED IN THE NEXT FEW DAYS. I will be receiving my ring on Wed or Thurs of this week.

Thanks again PS for all your help!!!

 

[Sparkles22]

Which local dealer did you use? Congrats on your find by the way. I can't wait to see some pics!

 

[sunkist]

oooo Wow! Sounds like it''s a nice stone! I''m glad that you''re so happy with it

Can''t wait for pictures

 

[MissAva]

NGM- Sounds like you got a good stone at a good price and will have exactly what you were looking for soon!

I cannot wait to see the photos…when will you be proposing?

 

[Small]

Congrats

Can''t wait to see the pictures!!!!

 

[codex57]

Congrats!

 

[mrssalvo]

cool. aren''t you glad you did your research and went educated?

 

[Paul-Antwerp]

Could you tell us which colour the stone is?

 

[diamondlil]

Congratulations on finding the stone that was right for you. I love to hear about the buying process and the fact that you let your EYES do the choosing. I tend to get hung up on the numbers sometimes, and it''s nice to know that it is possible to find a beautiful stone regardless of whether the paper says ideal. What color is the stone?

 

[Catmom]

Congratulations on a great find!! I can''t wait to see pictures..............

 

[niceguymr]

Date: 5/8/2006 8:47:41 AM
Author: Paul-Antwerp
Could you tell us which colour the stone is?

Whoops! How could I leave that out?!?!?!

It''s an F colored stone.

 

[dbgaap]

well done!

it''s really valuable to have the knowledge before shopping, eh? I''ve had a similar experience.
A great stone at a great price- purchased at a B&M.

Like you, i was ready to go online to buy.

Knowing you have options makes it so much easier.


What color?
congrats!

 

[Sundial]

How exciting for you! Glad you found a diamond and a setting you really like. Don''t forget us when you get that ring. We want to see pictures!

 

[diamondlil]

Date: 5/8/2006 8:53:59 AM
Author: niceguymr

Date: 5/8/2006 8:47:41 AM
Author: Paul-Antwerp
Could you tell us which colour the stone is?

Whoops! How could I leave that out?!?!?!

It''s an F colored stone.

Very nice!!!!!

 

[Paul-Antwerp]

May I strongly suggest that you get a very good independent appraisal? Please do not be stingy on the cost of the appraisel, go to a good appraiser, who puts time in his work.

You have bought this stone for such a good price, that it frightens me.

Live long,

 

[niceguymr]

Date: 5/8/2006 11:04:09 AM
Author: Paul-Antwerp
May I strongly suggest that you get a very good independent appraisal? Please do not be stingy on the cost of the appraisel, go to a good appraiser, who puts time in his work.

You have bought this stone for such a good price, that it frightens me.

Live long,

Had I bought the stone alone, it would have cost me $10,000 even, which realistically, is still a very reasonable price for the stone... not frighteningly good, but good enough.

Where I really saved money was in the setting. What I've come to realize is that since many online vendors are offering diamonds with very little markup, they've got to make their money from somewhere else... The settings. I've found that most of the settings offered through PS vedors are settings that I can buy locally for less than half the price. In my case for example, I'm getting a setting that James Allen sells for $1900 (Platinum Micropave Eternity) for $800. So add that to the $10K, and that leaves me at $10,800 total, for a ring with what would have easily cost me $12,500+. So I say the diamond cost me $8900 (when in fact it was $10k) to illustrate the following point...

I think everyone online is too busy noticing what great deals they are getting on diamonds that they overlook the inflated 'full retail' prices that they're paying for the settings. What's worse is that nobody really argues or questions the price of the settings, just the diamonds. FYI - The James Allen setting I'm referring to just went up in price by $150 from a week ago. (http://www.jamesallen.com/engagement-rings/settings-with-sidestones.asp?module=setting&cid=58&item=267) Not even diamonds have such strong price fluctuations. I'm not saying that it's overpriced, however the value of the setting is almost purely subjective. You're paying for a design, style, creative idea.. when your buying the setting. You're not just paying for the raw materials (.6tcw diamonds + whatever amount of 950 platinum is used). Think about how much the settings would cost if you were simply paying for the raw materials like you're doing with the diamonds?!?!

 

[FireGoddess]

Think about how much the settings would cost if you were simply paying for the raw materials like you''re doing with the diamonds?!?!

Since settings can''t cast and assemble themselves, it''s virtually impossible to think about pricing that way. There is a LOT of work that goes into setting teeny tiny stones, etc. It''s no small feat, and yes, a lot of times labor is the major cost of a setting. Kinda like getting your car fixed. The parts can''t fix themselves...

My custom setting cost a few thousand. Did the platinum and itty bitty diamonds cost that much? No. Interestingly, the price can go UP by using smaller diamonds, simply because it is more painstaking and labor intensive to set them. But until I master bench jewelry making, I gotta take what I can get.

I hear what you''re saying and all, but just wanted to make the point.

 

[niceguymr]

Date: 5/8/2006 11:47:48 AM
Author: FireGoddess

Think about how much the settings would cost if you were simply paying for the raw materials like you''re doing with the diamonds?!?!

Since settings can''t cast and assemble themselves, it''s virtually impossible to think about pricing that way. There is a LOT of work that goes into setting teeny tiny stones, etc. It''s no small feat, and yes, a lot of times labor is the major cost of a setting. Kinda like getting your car fixed. The parts can''t fix themselves...

My custom setting cost a few thousand. Did the platinum and itty bitty diamonds cost that much? No. Interestingly, the price can go UP by using smaller diamonds, simply because it is more painstaking and labor intensive to set them. But until I master bench jewelry making, I gotta take what I can get.

I hear what you''re saying and all, but just wanted to make the point.

Yes, you bring up a good point but... I guess I strayed away from my original point and that is that there is a TREMENDOUS markup on the settings as compared to the actual diamonds themselves. Nearly everywhere I''ve gone to look at settings locally, the dealer will remove the setting from the glass counter, look at the price marked on the tag, and automatically take off like 50%... and that''s without even discussing buying a diamond from them. I can only imagine what the actual cost is if they''re dropping their price so quickly on it. Even if I hadn''t bought my diamond from the person I''m getting the ring from, they had already offered the setting alone to me for $800 when the price was marked $2100 on the tag.

I used to work in the home electronics industry. I remember that sometimes we''d sell components for a very little markup, but then we''d sell the same customers all the fancy cables and accessories that were marked up like 300%. Heck, we''d get paid the most on the ''extended service warranties'' than any other part of the sale.

 

[WinkHPD]

Date: 5/8/2006 11:41:14 AM
Author: niceguymr

Where I really saved money was in the setting. What I''ve come to realize is that since many online vendors are offering diamonds with very little markup, they''ve got to make their money from somewhere else... The settings. I''ve found that most of the settings offered through PS vedors are settings that I can buy locally for less than half the price. In my case for example, I''m getting a setting that James Allen sells for $1900 (Platinum Micropave Eternity) for $800.

I am guessing he had this mounting in stock, since the cost to make the setting, unless it is VERY light weight is now more than $800. Platinum is about 60% heavier than gold and harder to work with, requiring greater labor costs.

I am pleased for you that you got a great deal, but it may not be repeatable.

Wink

 

[Sparkles22]

Where did you go to get such a good deal? I am looking to buy from a local for all the same reasons you did. Congrats on the beautiful stone and deal. Are the diamonds in the setting at the B&M the same quality as the James Allen one?

 

[FireGoddess]

Date: 5/8/2006 12:02:20 PM
Author: niceguymr

Yes, you bring up a good point but... I guess I strayed away from my original point and that is that there is a TREMENDOUS markup on the settings as compared to the actual diamonds themselves.

I don''t disagree with you one bit. Designer settings can cost an absurd premium that is well above material and labor costs. Absolutely. I know bridal shops that do the same thing (won''t mention a name) - sell dresses at pretty decent prices but all the accessories are marked up 200-300%. Trying to make it up somewhere.

I do hope you got a great deal (that the items live up to the expectation), because nothing beats that!

 

[niceguymr]

Date: 5/8/2006 12:34:16 PM
Author: Sparkles22
Are the diamonds in the setting at the B&M the same quality as the James Allen one?

The stones are all F to G in color and VS1 - VS2. I don''t know what they use at James Allen, but these are good enough for me just by looking at the ring. It''s gorgeous.

 

[Sparkles22]

Date: 5/8/2006 5:35:43 PM
Author: niceguymr

The stones are all F to G in color and VS1 - VS2. I don''t know what they use at James Allen, but these are good enough for me just by looking at the ring. It''s gorgeous.

Sounds like you got a good deal! Congrats!

 

[niceguymr]

See pictures of the ring here...

https://www.pricescope.com/community/threads/finally-heres-a-picture.45052/