Negotiating loose stone price at a B&M – does it hurt to ask?

[pixley]

I’m getting very close to purchasing my stone, but am really hung up on the price ($6,750 CAD). The stone is a 1.0-carat, F, SI 1 cushion, is completely eye clean and lovely. I’m having an independent appraiser take a look at the stone to confirm the specs but am wondering whether it would be acceptable to negotiate the price of the stone with my local jeweler (not a chain store, a reputable, family-run business). I know I could get a comparable diamond through one of the wonderful Pricescope vendors for well under $6,000 but am in Canada which is a problem for me, because there’s a certain comfort in seeing the stone in person and not having to worry about having one shipped to my family in the US, who would then have to get it to me in Canada. From what I’ve heard, shipping to Canada is a pain, and for me, it’s a matter of seeing the stone on my finger before I make such a significant purchase. Would it be inappropriate/disrespectful to ask if there is room to negotiate the price? Would anyone happen to know the markup? I know they need to make a profit and pay the rent, but would also like to know that I’m paying a price that''s reflective of the U.S. market rate. The CAD is nearly equivalent to the USD so I''m not understanding why the prices are so much higher here...

 

[canuk-gal]

HI:

The choice is yours. Certainly you could ask, I mean, what is the worst thing that could happen? I buy a reasonable amount of jewellery and honestly, I always ask. Politely.

I am not sure what you mean about shipping to Canada being "painful", but most of the vendors here use FedEx and it is quite efficient. Oh, there is the odd delay and slip up, but for the most part I have found buying online rather painless and have yet to have a problem. The vendor can ship the diamond directly to you without needing to ship it a family member in the US, first. There is no excise tax imposed on jewellery anymore, so one only pays the GST and FedEx brokers this for you (you sign a form.....).

Speaking of transporting stones back and forth, were you not planning on using Leon Mege for your setting? Other than shipping, were you planning on taking the stone/retrieving the finished ring yourself (NYC)?

cheers--Sharon

 

[pixley]

I think I would have a heart attack if there were any delays or slip ups with the shipping and would rather see the stone on my hand before purchasing. I can''t even buy clothing on-line - I know it''s ridiculous, but I have to try on things before I buy. I am still wanting Leon to do the setting and would probably just get a temporary setting and make the schlep out to NY in the spring. I have friends there who could pick up the ring for me.

 

[mintve]

It does not hurt to ask, just be equipped with what a similar stone may cost at their competitor or online. One of my friends is a smooth negotiator and she recently got 30% the list price of her loose stone for a diamond pendant at a B&M. A lot of places will work on prices with you if you pay in cash as well.

Good luck!!

 

[iheartscience]

I would definitely ask. Most B&M stores will negotiate. I''d just politely point out that you can purchase a similar stone for much less if you buy online. (No need for them to know you''re not crazy about that idea.) Then say "Is $6750 the best price you can offer me?" Let them make the first offer of a lower price. Don''t tell them the price you want because you never know how low they will go. And really, be prepared to walk if they won''t budge. An obvious willingness to go elsewhere will help them lower the price.

Plus, you could always ask Mark T. at Engagementringsdirect.com to pick out a selection of stones for you and you could travel to NYC and see those in person and pick one out at the same time you meet with Leon Mege. $6750 is really a very high price for that diamond. Is it worth $2500+ to you to get it right now? Or for that matter, to buy it in person?

 

[pixley]

Wow, good advice all around. Likewise, it would be a cash purchase. I''ll try the negotiation with facts in hand and if that fails, I''ll take it as a sign to settle down and wait to visit the masters (Mark/Leon) in NYC in the spring. I really appreciate the thoughtful suggestions.

 

[Sparkalicious]

Don''t know if it is too late or if it will help, however, I was dealing with a B&M for a stone I was interested in and presented them with the pricing I found for another stone and they actually advised that they would take approx $2,000 off the price in order to match the other stone I had found ... Unfortunately, or fortunately, depending on which way you look at it, I didn''t have a connection with the stone they were offering so I decided to pass on the deal.

Long story short ... I concur with everyone else. Doesn''t hurt to ask, right?

 

[Gypsy]

I wouldn''t lead with the online comparison.

Whenever I negotiate I start with a simple question, "Is that you best price?"

If they show a willingness to negotiate, then I''d ask them to suggest a lower price. If they do... I''d go from there.

Best of Luck!