Is it appropriate to ask for discount at a retail store?

[mandarinmom9]

For an 8 carat diamond? ($274k). It is a local chain and I am wanting to upgrade or trade-in. I don't know if it appropriate to try to negotiate (not too much) maybe 10 percent? Please help. Is this even realistic?

 

[HopeDream]

You can always ask, and the worst they will say is no.

As to 10%, the markup can vary wildy on jewellery. Online diamond retailers are usualy only able to offer a 3-5% discount (with wire transfer), because the margins are so slim.

Bricks and mortar stores can charge a wide variety of prices depending on their business style - some stores price things up to double the usual price so they can continualy offer a 50% off sale etc. Tiffany's charges a brand premium (around 20% extra?). That said, the store may be willing to work with you considerably on price if it's something they've held in inventoryfor a long time and want to get rid of it.

What are the stone's specs, and what certification does it hold?

You can use the diamond search and compare tool to get a sense of the price range for the type of stone you're looking at. If the stone is priced fairly, then asking for a discount is futile. If you find a good online price, maybe they would be willing to match it.

Keep in mind that GIA and AGS stones are often priced more expensively than EGL stones, because EGL is softer on grading (they call a diamond an EGL H, but it's priced like an GIA I because the diamond is the color of a GIA I).

 

[marcy]

Absolutely! They can only say "no".

 

[Enerchi]

I like Hopedream's suggestion about finding out the certification info on this stone then finding something comparable on line thru the PS search engine. Then you have a semi-level playing field to base your pricing on, once you also find a similar setting. They do have to make a profit because they are carrying the B&M location and staff salaries, but get that info first, then with the help of PS, you can determine what your price will be.

At a $274K price point, it probably won't be an item that sells quickly - if they have a reasonable offer, they may consider it. They can always counter offer...

No harm in doing your research!