Jewelry Store Rip Off

[princessbrandy80]

I went to a local jewelry store today and the person there told me that IS and ASET pictures will tell you nothing about the quality of a diamond. Now I do not agree with this, because I can see the difference between a good ASET/IS and a bad ASET/IS--after researching how the scopes work--but why would the jeweler say something like that? I would also like to point out that she "sold" me on buying a 2.02 F, VS2 with ex/ex for $21,995--So after I left the store, I decided to do a search on pricescope. I found the exact diamond online thru pricescope for $18600-$19000. A $3500 markup is so greedy!
Here is the diamond I saw today: http://www.whiteflash.com/princess/Princess-cut-diamond-1480510.htm

Needless to say I''m not buying a diamond anywhere BUT online...so please help me find the best diamond. I want one that will be super sparkly, 2 carats and colorless....suggestions? I don''t want to be over $22K--but I would like to get it closer to $20K.

 

[neatfreak]

This one would be gorgeous and is right about at your budget with the bankwire discount. AND it has a lifetime upgrade policy:

http://www.goodoldgold.com/diamond/4785/

 

[neatfreak]

Here''s another nice choice:

http://www.whiteflash.com/princess/Princess-cut-diamond-68014.htm

 

[Ellen]

Date: 10/17/2008 11:38:24 PM
Author: neatfreak
This one would be gorgeous and is right about at your budget with the bankwire discount. AND it has a lifetime upgrade policy:

http://www.goodoldgold.com/diamond/4785/

This one gets my vote!

And the jeweler told you that because they either don't know what they're talking about, or they can't compete with online sales and want to discourage people from buying online.

 

[honey22]

Date: 10/18/2008 5:35:41 AM
Author: Ellen

Date: 10/17/2008 11:38:24 PM
Author: neatfreak
This one would be gorgeous and is right about at your budget with the bankwire discount. AND it has a lifetime upgrade policy:

http://www.goodoldgold.com/diamond/4785/

This one gets my vote!

And the jeweler told you that because they either don''t know what they''re talking about, or they can''t compete with online sales and want to discourage people from buying online.

Ditto - they are going to discourage these tools as they don''t want their stock to be shown as inferior. Really craps me off!

 

[denverappraiser]

Date: 10/17/2008 11:25:37 PM
Author:princessbrandy80
I went to a local jewelry store today and the person there told me that IS and ASET pictures will tell you nothing about the quality of a diamond. Now I do not agree with this, because I can see the difference between a good ASET/IS and a bad ASET/IS--after researching how the scopes work--but why would the jeweler say something like that? I would also like to point out that she 'sold' me on buying a 2.02 F, VS2 with ex/ex for $21,995--So after I left the store, I decided to do a search on pricescope. I found the exact diamond online thru pricescope for $18600-$19000. A $3500 markup is so greedy!

Here is the diamond I saw today: http://www.whiteflash.com/princess/Princess-cut-diamond-1480510.htm



Needless to say I'm not buying a diamond anywhere BUT online...so please help me find the best diamond. I want one that will be super sparkly, 2 carats and colorless....suggestions? I don't want to be over $22K--but I would like to get it closer to $20K.

Not everyone agrees with what is learned from reflector technology and they are welcome to build a case against it if they wish. There are some valid criticisms but, overall, I think the logic behind these tools is pretty solid and I find the information they produce to be extremely useful for comparing several stones against one another. As is mentioned above, your objectives may not be the same as the sellers in this regard. More often it’s a matter of sales people simply don’t know, don’t have access to the information and don’t want to come across to the customer like they’re ignorant so they say whatever is necessary to change the subject back to what they really want to talk about, namely why you should be buying THEIR stone.

By all means shop elsewhere if you don’t value their services but a 20% markup at a full service jewelry store is not a ripoff.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[princessbrandy80]

Date: 10/18/2008 7:42:06 AM
Author: denverappraiser

Date: 10/17/2008 11:25:37 PM
Author:princessbrandy80

I went to a local jewelry store today and the person there told me that IS and ASET pictures will tell you nothing about the quality of a diamond. Now I do not agree with this, because I can see the difference between a good ASET/IS and a bad ASET/IS--after researching how the scopes work--but why would the jeweler say something like that? I would also like to point out that she ''sold'' me on buying a 2.02 F, VS2 with ex/ex for $21,995--So after I left the store, I decided to do a search on pricescope. I found the exact diamond online thru pricescope for $18600-$19000. A $3500 markup is so greedy!

Here is the diamond I saw today: http://www.whiteflash.com/princess/Princess-cut-diamond-1480510.htm




Needless to say I''m not buying a diamond anywhere BUT online...so please help me find the best diamond. I want one that will be super sparkly, 2 carats and colorless....suggestions? I don''t want to be over $22K--but I would like to get it closer to $20K.

Not everyone agrees with what is learned from reflector technology and they are welcome to build a case against it if they wish. There are some valid criticisms but, overall, I think the logic behind these tools is pretty solid and I find the information they produce to be extremely useful for comparing several stones against one another. As is mentioned above, your objectives may not be the same as the sellers in this regard. More often it’s a matter of sales people simply don’t know, don’t have access to the information and don’t want to come across to the customer like they’re ignorant so they say whatever is necessary to change the subject back to what they really want to talk about, namely why you should be buying THEIR stone.

By all means shop elsewhere if you don’t value their services but a 20% markup at a full service jewelry store is not a ripoff.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

I think 20% is greedy. Especially when I explained that I was really just trying to buy the setting in their store and I would rather shop online for the diamond to get a better deal. They insisted that I look at diamonds. I wasted a week waiting for them to get this diamond in. I own my own business and if I was trying to convince a customer to buy from me vs. buying online--I wouldn''t come in with a 20% markup. 10% would have been reasonable to try and get me as a customer...and to be honest if I came home yesterday and found the exact same diamond with a 10% markup I still might have bought the diamond from the jewelry store because it would have been a convenience factor. BTW this was not a chain jewelry store, but privately owned. I''m glad I found pricescope and can benefit from its knowledgable members. I wish more people knew about this before getting sucked into shopping mall jewelry stores.

 

[denverappraiser]

Owning a traditional jewelry store is not, at the moment, a particularly profitable business model. Not that I’m saying you should shop there if you don’t think you’re getting good value for your money but the reality is that 10% is not sufficient to cover the expensive rents in the places that are popular with shoppers (like malls), cover the cost of all the employees, security, the costs of carrying inventory, etc. I fully agree that this is their problem, not yours, but to say they are being greedy by it is, in my opinion, being unfair.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Jewelry Appraisals in Denver

 

[princessbrandy80]

Date: 10/18/2008 10:01:17 AM
Author: denverappraiser
Owning a traditional jewelry store is not, at the moment, a particularly profitable business model. Not that I’m saying you should shop there if you don’t think you’re getting good value for your money but the reality is that 10% is not sufficient to cover the expensive rents in the places that are popular with shoppers (like malls), cover the cost of all the employees, security, the costs of carrying inventory, etc. I fully agree that this is their problem, not yours, but to say they are being greedy by it is, in my opinion, being unfair.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Jewelry Appraisals in Denver

This store was not in a mall.
My concern when I was in this particular store was that with the given state of our economy, how do I know that this store is going to even be around next year?...Funny because the sales person pointed out that the owners actually OWN their freestanding building and they are very good with their money, etc. I guess they can be good with their money when they are making 20% markup. I think that 20% markup might be fair when purchasing a $5000 stone....so the store makes a $1000 profit. But 20% markup on a $19,000 stone is ridiculous! Not to mention I don''t even know what they have to pay their wholesaler---I have to imagine that pricescope vendors are making a reasonable markup as well, so if I''m seeing the diamond for $18,500 on-line...maybe online vendors are making $1500 too--so that would mean the jewelry store markup was more like 25% + ....

 

[princessbrandy80]

Date: 10/17/2008 11:38:24 PM
Author: neatfreak
This one would be gorgeous and is right about at your budget with the bankwire discount. AND it has a lifetime upgrade policy:

http://www.goodoldgold.com/diamond/4785/

Neatfreak:

The GIA cert is from 2005....shouldn''t it be more up to date? have the diamond grading standards changed significantly since 2005?

 

[neatfreak]

Date: 10/18/2008 10:52:05 AM
Author: princessbrandy80

Date: 10/17/2008 11:38:24 PM

Author: neatfreak

This one would be gorgeous and is right about at your budget with the bankwire discount. AND it has a lifetime upgrade policy:


http://www.goodoldgold.com/diamond/4785/

Neatfreak:


The GIA cert is from 2005....shouldn''t it be more up to date? have the diamond grading standards changed significantly since 2005?

No. It''s nothing to worry about. Very well might have been traded in, which could explain the older cert. But it really is nothing to worry about, it''s a BEAUTIFUL stone as you can see in the pictures, ASET, and other images.

And GOG is a wonderful vendor to work with!

 

[denverappraiser]

Date: 10/18/2008 10:47:46 AM
Author: princessbrandy80

This store was not in a mall.

My concern when I was in this particular store was that with the given state of our economy, how do I know that this store is going to even be around next year?...Funny because the sales person pointed out that the owners actually OWN their freestanding building and they are very good with their money, etc. I guess they can be good with their money when they are making 20% markup. I think that 20% markup might be fair when purchasing a $5000 stone....so the store makes a $1000 profit. But 20% markup on a $19,000 stone is ridiculous! Not to mention I don't even know what they have to pay their wholesaler---I have to imagine that pricescope vendors are making a reasonable markup as well, so if I'm seeing the diamond for $18,500 on-line...maybe online vendors are making $1500 too--so that would mean the jewelry store markup was more like 25% + ....

You’re correct that they are almost certainly buying for less than the PS vendors are charging and that their margin includes that profit as well. I’m not trying to argue you into shopping with them, do what you want. I agree that there are other business models that allow people to sell at lower prices. I would also point out that asking for high prices is not the same thing as getting them. They may very well be on a crash course with destiny here. I’m just pointing out that they aren’t being particularly greedy about it. Traditional jewelers routinely exceed PS prices by 20% or more for reasons I’ve outlined and lots of people end up at places like the online sellers, Walmart and Costco for this very reason. Jewelry stores do add value and it’s up to you to decide if this value is worth your money. If not, don’t shop there. If enough of their customers think they aren’t worth what they cost, they’ll either modify their business to become a bit leaner or they’ll find other work. That’s the way it goes. It’s a big problem for them and they certainly need to deal with it but I adamantly disagree that this is evidence that they are being either greedy or unreasonable. A hot dog costs more at the ballpark than at the grocery but this doesn’t make the folks at the ballpark a ripoff.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Jewelry Appraisals in Denver

 

[110203]

I very much agree with a lot of what denverappraiser is saying.

I am honestly surprised by the amount of people who would rather pay over the internet and receive such a huge investment in the mail, without seeing more than pictures and certs. There are so many variables and so much of the interest in diamond buying and being in the moment would be picking out exactly the one you want in the flesh. I feel like online shopping is so cold and unpersonable.

I also like the idea of on the spot repairs, if I needed a new head I could have it done that same day. I don''t have to check in every 6 months with a mall store, or send in my ring for 4 weeks to get a prong re-tipped. I know that my jeweler will always be there for me in the end. I enjoy not only seeing what I can buy, but feeling and touching as well.

Yes, they might be at a high price but the experience is so much more intimate. I''m sure they would work with you on a price, but keep in mind that comparing prices on diamonds is like apples to oranges, there are so many variables as to why one is more or less expensive.

 

[Lorelei]

Date: 10/18/2008 11:48:08 AM
Author: 110203
I very much agree with a lot of what denverappraiser is saying.

I am honestly surprised by the amount of people who would rather pay over the internet and receive such a huge investment in the mail, without seeing more than pictures and certs. There are so many variables and so much of the interest in diamond buying and being in the moment would be picking out exactly the one you want in the flesh. I feel like online shopping is so cold and unpersonable.

I also like the idea of on the spot repairs, if I needed a new head I could have it done that same day. I don''t have to check in every 6 months with a mall store, or send in my ring for 4 weeks to get a prong re-tipped. I know that my jeweler will always be there for me in the end. I enjoy not only seeing what I can buy, but feeling and touching as well.

Yes, they might be at a high price but the experience is so much more intimate. I''m sure they would work with you on a price, but keep in mind that comparing prices on diamonds is like apples to oranges, there are so many variables as to why one is more or less expensive.

You will notice that most people here on Pricescope do shop online, have done so with excellent results and would happily do so again!

It may not be for everyone, but the numbers of people buying online are growing rapidly.

 

[neatfreak]

Date: 10/18/2008 11:57:20 AM
Author: Lorelei

Date: 10/18/2008 11:48:08 AM

Author: 110203

I very much agree with a lot of what denverappraiser is saying.


I am honestly surprised by the amount of people who would rather pay over the internet and receive such a huge investment in the mail, without seeing more than pictures and certs. There are so many variables and so much of the interest in diamond buying and being in the moment would be picking out exactly the one you want in the flesh. I feel like online shopping is so cold and unpersonable.



I also like the idea of on the spot repairs, if I needed a new head I could have it done that same day. I don''t have to check in every 6 months with a mall store, or send in my ring for 4 weeks to get a prong re-tipped. I know that my jeweler will always be there for me in the end. I enjoy not only seeing what I can buy, but feeling and touching as well.


Yes, they might be at a high price but the experience is so much more intimate. I''m sure they would work with you on a price, but keep in mind that comparing prices on diamonds is like apples to oranges, there are so many variables as to why one is more or less expensive.

You will notice that most people here on Pricescope do shop online, have done so with excellent results and would happily do so again!

It may not be for everyone, but the numbers of people buying online are growing rapidly.

Ditto! And I have to say that I still have a relationship with a local jeweler, who I make other purchases with, who is more than happy to service my ering even though it wasn''t bought from them.

Not to mention the fact that you CAN often arrange to see your online purchases before your purchase is final. In fact, Mark from ERD came out to my house, on a weekend where he was at his vacation house, just to show me the diamond we were thinking about purchasing! I can''t say that the service I have received at a B&M has EVER been that personal!

 

[110203]

WOW, really?? I was unaware, what a nice thing to know!

In relativity, where are most of you located? I think that is making the big difference considering I am in Michigan?

 

[neatfreak]

Date: 10/18/2008 3:42:33 PM
Author: 110203
WOW, really?? I was unaware, what a nice thing to know!


In relativity, where are most of you located? I think that is making the big difference considering I am in Michigan?

Why is that making a difference? We are all over the world, literally! And the vendors are all over the US and a few abroad.

I don't know where in MI you are but Pearlman's is a very well respected PS vendor and they are in MI...Battle Creek I think.

 

[NeverEndingUpgrade]

Date: 10/18/2008 11:48:08 AM
Author: 110203
I very much agree with a lot of what denverappraiser is saying.

I am honestly surprised by the amount of people who would rather pay over the internet and receive such a huge investment in the mail, without seeing more than pictures and certs. There are so many variables and so much of the interest in diamond buying and being in the moment would be picking out exactly the one you want in the flesh. I feel like online shopping is so cold and unpersonable.

I also like the idea of on the spot repairs, if I needed a new head I could have it done that same day. I don''t have to check in every 6 months with a mall store, or send in my ring for 4 weeks to get a prong re-tipped. I know that my jeweler will always be there for me in the end. I enjoy not only seeing what I can buy, but feeling and touching as well.

I have bought 2 diamonds from Jonathan at GoodOldGold. We have talked about diamonds via email and on the phone so many times, I feel like he is a friend. Incidentally, I am in Texas and he is in New York. No way is buying online cold and unpersonable, but I CAN say that for a few of Dallas'' snooty jewelry stores! As far as repairs go, I also have a local jeweler that I trust and does all kinds of jobs for me.

 

[arjunajane]

Date: 10/18/2008 9:05:55 PM
Author: NeverEndingUpgrade

Date: 10/18/2008 11:48:08 AM
Author: 110203
I very much agree with a lot of what denverappraiser is saying.

I am honestly surprised by the amount of people who would rather pay over the internet and receive such a huge investment in the mail, without seeing more than pictures and certs. There are so many variables and so much of the interest in diamond buying and being in the moment would be picking out exactly the one you want in the flesh. I feel like online shopping is so cold and unpersonable.

I also like the idea of on the spot repairs, if I needed a new head I could have it done that same day. I don''t have to check in every 6 months with a mall store, or send in my ring for 4 weeks to get a prong re-tipped. I know that my jeweler will always be there for me in the end. I enjoy not only seeing what I can buy, but feeling and touching as well.

I have bought 2 diamonds from Jonathan at GoodOldGold. We have talked about diamonds via email and on the phone so many times, I feel like he is a friend. Incidentally, I am in Texas and he is in New York. No way is buying online cold and unpersonable, but I CAN say that for a few of Dallas'' snooty jewelry stores! As far as repairs go, I also have a local jeweler that I trust and does all kinds of jobs for me.

I agree 100%, my online experiences with GOG and WF have been anything but impersonal and cold. I would consider Jon from GOG a friend, and my rep from WF was sweet enough to remember my B''day - they have given me some of the best service I have ever had, and absolutely kick the butt of any B&M stores I have visited/bought from.
Oh, and 110203 I live in Australia - for a good vendor, distance is no obstacle to great service !