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Is this too good to be true??

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mrmcpa

Rough_Rock
Joined
Jun 1, 2004
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Thanks to all the great info from the forums and this site in general. It''s really helped me to learn that there is more to buying a diamond than just size and price.

I know of a man that is in the jewelry business--we show antique cars and we have mutual friends because of that interest. He heard me telling my friends of my upcoming 20th anniv. and my plans to upgrade my e ring diamond. He told me a couple of jewelers in town to beware of and where to go to get great service albeit at a price. We talked, I told him what I had in mind and this is what he offered: He told me to tell him every spec I wanted, (which cert., color, clarity, cut etc. the more detailed the better,) and he would get the stone or as close to what I wanted as possible, let me talk with his supplier(with him present)to give them the information and find out his cost and he would only charge me 20% over his cost. He also told me he would show me the invoice to verify what I was told over the phone was his cost. The best part is I would NOT have to front any money and if I didn''t like the diamond they sent, he would return it at no cost to me.

A couple of women that are friends of mine, have used him to purchase jewelry and were thrilled with what they got and for the price they paid. And these were women that know their stones. They also received all kinds of paperwork in addition to their certs--sarin reports, detailed plot diagrams, pictures, etc. One has a 2 carat and a 1.5 that she got from him. He has also given me customer references and told me to check them if I want. I guess my question is this--not knowing the prices from the suppliers, is only a 20% markup realistic? He works out of a shop in his home and keeps virtually no inventory and has stones sent in for his customers based on what they are looking for. Thanks for the input.

P.S. He does NOT do appraisals of any kind and insists that the stones be taken and appraised by an independent appraiser.
 
Hi,

You can find full service B&M's to meet or beat that offer and provide service and upkeep on the ring, etc.

Or you could buy from an internet dealer and lower that markup to 6-10% if you shop well.

It is nice to be able to see the diamonds.

However, the "Puppy Dog Close" is always a factor when looking at diamonds as they all look beautiful.

Just in case, the "puppy dog close" is a technique along the lines of :

How does it look to you ?
-we know the answer to this-(see above)
Why don't you take it home and see if your intended likes it?
See above.

My advice is to seek out a pro to help you.

Why pay a amateur more than a pro would charge and get less in return (advice, experience, service , etc)?


Keep us posted on your decision.
 
Oh wow! No... not too good to be true, but nice enough
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That markup may well be half as much online (and, well, 10% is more or less important, depending on what the 100% is,) but taking diamonds home for trial from a jeweler you get to know is not at all unpleasant. In fact, this is how I got hooked myself.

However, the same treatment would come from an internet seller - you do get some 30 days to decide on keeping or returning the piece. Mutual trust is still key, only communication remains virtual. Whichever source you find appealing, the techniques of cut quality evaluation remain valid regardless of distribution channel... and it may be a good idea to get an appraiser's opinion before the purchase is finalized.

From the deal setting you describe, I remain with two questions: #1: 20% markup over what? (this is a nice selling practice, but it allows less timefor the buyer to evaluate the final cost – especially that the seller knows what you are planning to spend) and #2: besides the specs you asked for what else gets factored into quality and price?

Nothing wrong with the arrangement - only I know my jeweler who does the same to me, and I have never met yours
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Not sure you may find this funny, but buying diamonds is often compared to buying cars - only it would be lemmons not collection classics
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Wow! Thanks for the input. I thought I would be saving tons of money by using this guy. My DH was concerned about not having a "place" to go back to if there were any problems or any type of guarantee on the diamond. The more things one learns about diamonds, the more things there are to consider!!
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I think the best course of action would be to go to the recommended B&Ms in town (unfortunately there are only 2 that are not chain stores and that carry loose stones-this is small town midwest)and compare to what can be purchased online. Thanks for your help.
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I'm sure I'll be back with more questions once I've got some candidates for purchase.
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