Increase in prices

[derbygal]

There is a ring I've drooled over for many months on the Singlestone page on 1st Dibs. Granted, the price has remained the same for quite some time. Today I get on there and the price has gone from $10,600 to $14,500. I was stunned. Have prices been going up that much? It wasn't just this particular ring-- other things on the Singlestone page have gone up dramatically, too.

 

[Niel]

Didn't tiffany and Cartier just raise their prices.

 

[SB621]

Didn't tiffany and Cartier just raise their prices.

Cartier has had 2 price increases since January 2012

 

[chrono]

A 40% increase is very sudden and steep!

 

[MrsBettyBoop]

YIKES!

 

[Niel]

A 40% increase is very sudden and steep!

But she said they have kept the price the same for a while. So of they haven't raised it for a while they may just do it in steps?

 

[chrono]

I can swallow a 5 to 10% increase but if I see a 40% increase, my wallet stays shut. Either that, or I shop elsewhere.

 

[SB621]

I can swallow a 5 to 10% increase but if I see a 40% increase, my wallet stays shut. Either that, or I shop elsewhere.

Singlestone is hard though. There are not many who can replicate that type of ring. If it were WF, BGD, IDJ that had the mark up it wouldn't be a big deal because you know you could find another vendor who can do the same thing equally well. Singlestone and 23rd St jewelers are sort of in their own category if you want a well made antique repo. Such a shame though

 

[chrono]

You might be surprised to find other places who do this type of work but don't have an online presence. I found a place in SLC who hand makes similar antique settings. Claritek and I were impressed with the detail and prongs.

 

[Smith1942]

I can swallow a 5 to 10% increase but if I see a 40% increase, my wallet stays shut. Either that, or I shop elsewhere.

I quite agree. Price increases get me so mad. Yes, I know some of the time it's due to wholesale metal prices and the jewelers have to make a profit. Fair enough....but there are many whackadoodle price increases which are nothing to do with the price of metals. The price of gold has really dipped recently, so why did Cartier raise its Trinity XS price by $150 just a couple of weeks ago? And one of the worst offenders in price rises is Blue Nile...they are quite capable of randomly smacking a $400 increase on an item that was 1,000-1,200. And sometimes more...a premier akoya pearl necklace was $1900 in a Christmas sale and now, five months later, it's $3,300. And in 2011 Tiffany had FOUR price rises of about 12% each...there's no way that wholesale prices rose that much. Oh yes - and Hamilton Jewelers once raised the price of some diamond teardrop earrings from $575 to $1200, overnight.

In general, because so many price rises are NOT the fair result of free markets, I keep my wallet closed when they happen. And Singlestone's 40% price rise can shove it - there's no way I'd buy.

 

[SB621]

You might be surprised to find other places who do this type of work but don't have an online presence. I found a place in SLC who hand makes similar antique settings. Claritek and I were impressed with the detail and prongs.

Oh I agree there are many other places who can replicate but they dont' have a presense on PS.

 

[pinkjewel]

Where are the prices on Singlestone's pages?

 

[UberClaire]

I was hemming and hawing over a SingleStone eternity band. I got a quote from them back in December, but I didn't decide to buy until March. Heather from SingleStone was lovely and told me that they would honor my original quote from December even though the price had been raised since then. I never found out what the new price was.

 

[derbygal]

Here's my other issue with the ring in question. Similar stones to the 1.29 K SI1 are priced on the high end on Old World Diamonds at $6,186. (that is the price for a 1.28, J color, SI1 stone). I realize the french cut sapphires are going to command a higher price, but I feel that roughly $8,300 for the setting is beyond nuts. I had contemplated buying the exact ring when it was cheaper, but there is no way I can justify it now. I also have a smallish OEC (maybe .80 carat) that is in my great grandfather's ring that I was thinking of having made into a similar ring with french cut Tsavorites (if anyone would consider cutting them), but I think I will take Chrono's advice and look elsewhere.

 

[Circe]

I can swallow a 5 to 10% increase but if I see a 40% increase, my wallet stays shut. Either that, or I shop elsewhere.

I quite agree. Price increases get me so mad. Yes, I know some of the time it's due to wholesale metal prices and the jewelers have to make a profit. Fair enough....but there are many whackadoodle price increases which are nothing to do with the price of metals. The price of gold has really dipped recently, so why did Cartier raise its Trinity XS price by $150 just a couple of weeks ago? And one of the worst offenders in price rises is Blue Nile...they are quite capable of randomly smacking a $400 increase on an item that was 1,000-1,200. And sometimes more...a premier akoya pearl necklace was $1900 in a Christmas sale and now, five months later, it's $3,300. And in 2011 Tiffany had FOUR price rises of about 12% each...there's no way that wholesale prices rose that much. Oh yes - and Hamilton Jewelers once raised the price of some diamond teardrop earrings from $575 to $1200, overnight.

In general, because so many price rises are NOT the fair result of free markets, I keep my wallet closed when they happen. And Singlestone's 40% price rise can shove it - there's no way I'd buy.

I think generally the price increases are a case of testing what the market will bear, and there's an odd kind of an arms-race quality to it: if all the other luxury jewelers are doing it ....

That said, that's quite a large margin. I wonder if they're expanding, or something, to need the higher revenue ....

 

[Lisa Loves Shiny]

Here's my other issue with the ring in question. Similar stones to the 1.29 K SI1 are priced on the high end on Old World Diamonds at $6,186. (that is the price for a 1.28, J color, SI1 stone). I realize the french cut sapphires are going to command a higher price, but I feel that roughly $8,300 for the setting is beyond nuts. I had contemplated buying the exact ring when it was cheaper, but there is no way I can justify it now. I also have a smallish OEC (maybe .80 carat) that is in my great grandfather's ring that I was thinking of having made into a similar ring with french cut Tsavorites (if anyone would consider cutting them), but I think I will take Chrono's advice and look elsewhere.

I believe that is a smart choice.

 

[distracts]

You might be surprised to find other places who do this type of work but don't have an online presence. I found a place in SLC who hand makes similar antique settings. Claritek and I were impressed with the detail and prongs.

Share the name?

 

[chrono]

McKay Diamonds. 157 S Main Street, Salt Lake City, UT 84111. The owner is Joe Andrade.

 

[derbygal]

Thank you, Chrono!

 

[yennyfire]

That's a shame. I'm a staunch SS supporter (both of my custom rings were made by them) but that's quite an increase. I just sent Ari an email about a new project, but if their prices have gone up that much, it definitely won't be within my budget.