Need to read your thoughts on this one

[prstyles]

First time writer, long time lurker. I''m glad there''s a community like this to help in a STRESSFUL time. OK, I was under the impression that I would never find from a local B&M the type of deal that I see here on pricescope, and I''m still not sure now that I may have, which is why I need some advice. Here are the numbers:

1.03 ct Round Brilliant
H VS1
EGL cert shows:
Depth 61.6
Table 57
Crown Angle 35
Pav. Angle 40.9
pointed culet
Can''t recall the exact girdle, but I think 1.2-1.9
vg-vg polish symmetry
6.5 to 6.47mm diameter

I saw it loose, but they''ll sell me this stone for $4829 after tax set in a 14K white gold 6-prong Tiffanny style setting.

Scores 2.0 on HCA (vg-vg-vg-vg).

Now, the sales person pushed back a bit when I asked them if I could take it (or if they would run it by) an independent appraiser. I can still take it to one after I buy, but what is my recourse if their findings make me change my mind about the stone?
Also, they use the phrase ''wholesale pricing'' a lot.

They have a basic web presence (no sales):

http://www.israeldiamond.com/

Thoughts?

 

[Richard Sherwood]

I don't really care for their claiming to be wholesalers selling to the public (Israel Diamond Supply is a wholesale supplier of loose, certified diamonds in all shapes and sizes), or their negative campaigning (Israel Diamond Supply's mission is to protect jewelry buyers from the wrongdoing of the retail jewelry industry), but that's beside the point.

Most reasonable diamond vendors have no qualms about letting you check out a potential purchase with an independent appraiser. Some want you to purchase up front with a right- of-return period (10 days?), while others will send the stone directly to an appraiser without you having to pay up front.

If someone is hesitant to let you check out their product in such a manner, I would be hesitant of them.

If this diamond is truly an H/VS1, it is a very good deal. The main thing to worry about though is if the color is overgraded. There is an approximate 20% drop in value from an H/VS1 to an I/VS1. The drop from VS1 to VS2 is not that bad, about 4%.

The stone is more likely to be correctly graded if their EGL certificate is from a North American lab. However, I have had many negative experiences with stones analyzed by EGL Israel being overgraded, especially with color.

Find out which lab graded the stone, and make your sale upon the diamond appraising out to your satisfaction with the independent appraiser of your choice, along with a reasonable right-of-return period.

There are plenty of vendors who will bend over backwards for you in this respect if they won't.

 

[Richard Sherwood]

This excerpt from their site paints an exagerrated picture of the markup used by jewelers for diamond solitaires:

"A retail jeweler could not offer huge discounts and remain in business without following the industry''s markup standards: a regular price is 300% - 400% times the wholesale price, a sale price is 150% to 200% times the wholesale price."

 

[Mara]

I have a huge pet peeve with vendors that use the wording 'wholesale pricing'....technically that is untrue as wholesale pricing is most likely close to what they purchase the diamond for and I highly doubt that they are turning that diamond around with little or no margin.

Wholesale pricing terminology is just a phrase that is supposed to excite a consumer because they feel as though they are getting something that is very rare that they should not be getting, aka a great deal.

Look at the stone and it's price and compare it to other vendors as well...I'm sure it will be pretty competitive...meaning that they are not selling at 'wholesale' but rather just being competitive. Be sure to cover all the bases on the stone...and honestly if they don't want to ship it to an independent appraiser before purchase...I would pass on it. You can always do it after as you noted but what are they afraid of to not want you to do it beforehand?

As their pricing is most likely competitive to other online vendors, you can always purchase with an online vendor who will ship to an appraiser beforehand, preferrably someone local to you so you can go see the diamond while they are checking it out, and that way it's a visual approval and an appraisal approval and then you purchase. I would definitely consider this as much as you are considering shopping offline. Use both avenues to get the best stone for the best deal IMO.

 

[RockDoc]

Wholesale?

Ask Sam''s Club why they won''t use wholesale any more..

A suit was filed against them for that practice. As a result they removed all references to the term wholesale.

There have been tons of stories in the trade press about this, and those that continue to practice this deception is really fraudulent.

Wholesale means the price charged to a person who is in the business of re-selling the product. NOT AN END USER.

Merchants (in any business) who practice claiming "wholesale" are preying on the uninformed, and usually that isn''t the only deception they practice.

Shop around to find a comparable stone where the seller is straightforward.

I agree totally with Mara and Richard''s posts.

Voting with your wallet, and bringing it to their attention as to why you are or might change the seller is of course is your choice, but the more consumers that object to that sort of promotional, misleading practices will only stop if it hurts their sales.

Rockdoc

 

[JohnQuixote]

Date: 2/20/2005 7:31 AM
Author: RockDoc

I agree totally with Mara and Richard's posts.

Rockdoc

Well I agree totally with Rockdocs post.

 

[prstyles]

Thanks everyone, I''ve pretty much decided to pass on this due to their intransigence on the whole appraisal issue. I thought it was a little funny/disturbing that one of the guys I talked to while I was in the store (a manager/supervisor of sorts), said that some in town have accused them of funding terrorist organizations because their prices are so low. I guess competition can get pretty rough...