Local Jeweler vs. Online - Price Difference

[ringHunterFL]

Hi!

I'm new to this diamond game and have a few questions. I'm aware that online jewelers are often less expensive than local jewelers, And that makes sense because of all the overhead costs of a local jeweler. My local jeweler quoted me a price for a diamond that I was able to find on this site using the diamond finder. His price was substantially higher than the online guys selling the same rock via diamond finder on this site.

My question is, how much more is a reasonable amount for a local jeweler to charge me? Lets say for example I was quoted $10K and I see the exact same stone online for $9K. Over a 10% difference seems excessive to me, so I would like to negotiate a fair middle ground price. Any guidance on this matter would be much appreciated.

Thanks!

 

[rhr75]

Is it the SAME stone? Meaning, is it the same GIA/AGS/etc. report number? I ask because even stones of similar spec can have a lot of variance in price based on the nuances of cuts, flaws, etc.

If it is the same, then I wouldn't say 10% is too much to ask in premium assuming it includes local sales taxes (which, in CA are almost 10%). Otherwise, you could also see if he can cut you a deal on the overall package including the setting, maybe he has an upgrade policy, repairs/cleaning, etc. The local jeweler premium is more than just their brick and mortar storefront, you are "getting" something by being able to examine the stone in person and return should there be any issues. All depends if that is important to you or not.

Personally, I haven't done a LOT of purchases, but every online purchase I've made from a reputable company has been 100% satisfactory. So, for me, online has always been the way to go.

 

[ringHunterFL]

Thanks for the response RHR.

Yep, same exact report number and the above examples include sales tax. If I decide to use him, I will get the setting from him too. I don't believe there is an upgrade policy but there is a lifetime warranty and cleaning which is nice. One thing he does not offer, which I've seen elsewhere is an insurance appraisal. I'm guessing this will cost me another $100+ to have the ring appraised so that it can be insured. Any idea on how much appraisals run? I know those in-house appraisals shouldn't be trusted for determining if you're getting a good deal, but I may ask him to throw this in since it would be nice to not have to pay for and deal with an appraisal afterwards just to get insurance.

In the future I may look towards going online, but for this purchase I'm more comfortable with the local jeweler route. I agree that there certainly is value to a local jeweler and I'm willing to pay for that, I just want to make sure that I'm not being taken to the cleaners.

 

[rhr75]

If it is inclusive of sales tax, I'd buy it from him. The appraisal SHOULD be free, IMO. James Allen, for example, gives free appraisals with finished products over $1000. I assume in part because it might be harder to appraise a stone once it's mounted.

Also, with respect to sales tax, while I'm certainly "guilty" of buying online / out-of-state, at least in CA you're supposed to report those purchases and pay the sales tax. I don't think anyone does, but if it makes you feel better, you're also obeying the law by paying the local tax.

 

[ringHunterFL]

Gotcha, yea 10% in Cali is a little outrageous. Thanks again for the input.

 

[NervousBuyer]

Gotcha, yea 10% in Cali is a little outrageous.

We pay 13% up here in Ontario. But oh yeah, free health care.