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Negotiating price on diamond?

Discussion in 'RockyTalky' started by undersiege, May 13, 2012.

  1. undersiege
    Rough_Rock

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    by undersiege » May 13, 2012
    I'm going in 2 weeks to look at diamonds with Leon's guy, Perry and stopping by GOG as well. Wondering if it's standard practice to negotiate with these types of jewelers on the price of the stone or if the prices quoted are firm. I don't want to offend anyone if it's not appropriate to haggle, but by the same token, I don't want to miss an opportunity to get a better value. Anybody have experience with these diamond dealers or any others of similar caliber?

    Thanks for any advice you all can provide!
     
  2. Gypsy
    Super_Ideal_Rock

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    by Gypsy » May 13, 2012
    I would be surprised if either negotiated, and if they did I don't know by how much. But if you know how to do so politely you can try. It does seem the route most people are most sucessful in finding a deal is to shop around among PS vendors though. So depending on what you want Engagement Rings Direct and ID Jewelry are both in NY have also been known for being bargain friendly places to shop around at.

    You do need to understand that value doesn't mean lowest price though. So be sure you understand what you are comparing when you are vendor shopping.
     
  3. undersiege
    Rough_Rock

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    by undersiege » May 13, 2012
    I wonder how easy that is to do with stones which are all unique. If I see the right stone from Perry, I don't know how I can get the same stone from someone else? Not sure if Leon provides a package discount if I get the center stone and custom mounting from him.

    Overall, I agree that lowest price does not always equal best value. But what I'm looking for in stone and setting is really bumping up against the top end of my budget and every little bit can help as I try to assess how much leeway there is to get the setting I want with the level of quality that a Leon can provide in terms of custom work.

    I've looked into both Victor Canera and Leon for the ring I want. Anyone else out there I should look into for hand forged pave work?
     
  4. justginger
    Ideal_Rock

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    by justginger » May 13, 2012
    I am of the mindset that EVERYTHING is negotiable, especially on big ticket items. It never hurts to try, and if you do so politely, at least you'll always know you did your best. :)) I would suggest simply asking, "Is this the best price you can offer, or is there a bit of wiggle room?" I can't imagine anyone getting their feelings hurt over that.

    I have no personal experience with him, but many PSers think that Yekutiel at ID Jewelry seems to be able to locate the best value stones possible. Perhaps consider visiting with him as well.
     
  5. Gypsy
    Super_Ideal_Rock

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    by Gypsy » May 13, 2012
    Well, yes if you are buying both the setting and the stone at the same vendor, that does give you more wiggle room to negotiate a package deal. Steven Kirsch's prices are lower than Leons (and I prefer to work with Steven) but Leon will match. So if you need some negotiation fodder you can always ask Steven for a setting quote. That said-- you might still get a better deal by working with Steven. Steven can also source stones.
     
  6. undersiege
    Rough_Rock

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    by undersiege » May 13, 2012
    Thanks for the additional sources to investigate. I'm looking for an Old European Round and one thing I've been struggling with is the idea that since the supply of OER are not nearly as large, I may end up driving the demand up on myself if I reach out to too many different dealers. Especially in the same geographic area, I would expect folks like SK, Perry, etc. to have many of the same sources for quality stones. Is that assumption way off?

    I thought GOG was a safe alternative since they have a proprietary AVR cut. (Of course that cut is pretty pricey itself!)

    What do you all think about having multiple dealers looking for OE for me? Good idea? Bad idea?

    From a setting perspective, I will certainly shop that around.
     
  7. justginger
    Ideal_Rock

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    by justginger » May 13, 2012
    If you are looking for a genuine antique round, I don't know why you wouldn't choose to contact multiple individuals. I'm under the impression that most of them have a variety of sources and I don't think you'll be pushing demand up single-handedly (there are plenty of PSers already doing that job for you!). I think Perry's main source is for antique cushions - one of his cousins cuts them. I'm not sure how he goes with OECs.

    I am actually searching out a large antique cut myself right now. Right off the bat I contacted Perry, Adam from Old World Diamonds, and Erica from Jewels by Erica Grace. I gave them all my preferences and asked them about their current inventory, and ability to source other stones. They've all be wonderful to work with. Perhaps you'd like to have a look at them as well? When I suggested ID, I was under the impression you were wanting a modern round - I don't know if Yekutiel deals with antique stones. I think the three mentioned above would be better suited to finding you an OEC.
     
  8. smitcompton
    Ideal_Rock

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    by smitcompton » May 13, 2012
    Hi,

    It is very astute of you to realize you may be increasing your own price by dealing with so many vendors for the same stone. This was recently pointed out on another part of this forum. All these vendors will be looking for a stone for you. It looks as if there is a demand for these stones and prices will rise. I think this has been happening on antique stones and some colored stones. Prices rise quickly in this industry,


    Annette

    BTW I am only commenting-- really don't know how to handle this ever growing problem.
     
  9. undersiege
    Rough_Rock

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    by undersiege » May 13, 2012
    justginger,

    I'm really wary of purchasing such a unique type of stone sight unseen. Which is why I'm geographically focusing my search to NYC dealers. I've already come across duplication when I asked a couple of the featured sponsors on this site to send over certs. That's why I became concerned.

    I did work with Single Stone in LA because I thought they might source elsewhere.

    But I should probably reach out to Adam since he's such a significant supplier and he specializes in older stones.
     
  10. justginger
    Ideal_Rock

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    by justginger » May 13, 2012
    I understand the hesitation of purchasing from afar, so Adam would definitely be a good local resource. That being said, if you aren't on a tight time schedule, you have little to lose by purchasing from JbEG. They take excellent photos and videos, and offer a 100% refund policy in the case it doesn't translate in real life. It would be worth having a look at their website anyway - they've got a good stock ATM. :))
     
  11. diamondseeker2006
    Super_Ideal_Rock

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    by diamondseeker2006 » May 13, 2012
    It does drive me a little nuts when people are working with multiple vendors who are all likely looking at the same diamond supplier lists! But in this case, it is different.

    See what Good Old Gold has. See what Old World Diamonds has in stock, and see what Jewels By Erica Grace has in stock. Because I think you will find a diamond at one of these three. Because they will all be dealing with their current stock, they won't be trying to source the same stones. Then if you find a couple you like, see what the bottom line prices are and choose the best stone.
     
  12. undersiege
    Rough_Rock

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    by undersiege » May 14, 2012
    She does have some really nice looking stones on her site. I am wondering though if JBEG has stock beyond what she shows on her website? I'm looking for a stone in a pretty tight carat range.
     
  13. justginger
    Ideal_Rock

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    by justginger » May 14, 2012
    Contact Erica and ask - I suspect they always have a few things in the pipeline, especially with consignments. It says on their website that it takes 30-45 days for consigned pieces to be checked, polished, photographed, and listed. There may well be a few stones in the middle of that process, unlisted but known of.
     

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