Not Sure How Should Proceed

[krzyx]

So I went to a Diamond wholesaler who was supposed to give me a great discount (friend of a fried). However, I found the report and what they quoted me is about 2000 more than the online pricing (same report number).

Should I try to get the price down or proceed with someone else?

 

[yssie]

Depends.

In this scenario a jeweller might not be out to swindle you.
How much is the stone? 2k on a 50k purchase is very different from 2k on a 10k purchase.
Is your friend of a friend willing to offer generous trade-in, buyback, upgrade policies?
Does your friend of a friend offer other services that you think you might take advantage of? A champagne buying experience, extra information on the stone - scans, photos, etc., repairs/replacements of setting and sidestones...
Will your friend of a friend be making the setting, and is he perhaps giving you a fantastic price on the setting to offset the cost of the stone?

Or the jeweller might be out to swindle you.

Given that you went to someone who calls himself a "diamond wholesaler" and were expecting a "great discount"... Sometimes shopping through a friend of a friend works out really well and sometimes it works out really horribly.

 

[krzyx]

Price difference is between 10.6k and 12.4k.

They're also doing the custom ring setting, but ring designer only place was also willing to do the custom ring setting for almost the same price (300 cheaper with the jeweler).

No other real additional services I can think of. Didn't ask.

 

[WinkHPD]

Yssie kindly gives both sides of the coin.

A true wholesaler DOES NOT SELL TO THE PUBLIC! That, by definition is a retail sale. PERIOD! Even if he is selling below his cost, that is a retail sale. By definition!

He may be your friend's friend, and he may be giving you a better deal than he gives the average person walking into his office, this we do not know.

What we do know is that he is not your friend, he is your friend's friend and you may not feel that this is worth $2,000. That is your call to make. And know this, just because you do not buy the diamond, does not mean it will automatically be available to you if you try to buy it from the on line vendor.

It may already have a back up buyer. The vendor who you talked with may wish to buy it, with our without your purchase. These things you can not know in advance.

Question? Did you just LOVE LOVE LOVE the diamond when you looked at it with YOUR eyes, or did you take it because it was good enough? If you only took it because it was good enough, for sure go back and negotiate or return it if you do not get the price you want.

If you really LOVED, LOVED, LOVED it, then you have to make a harder decision. Do you just swallow and take it, and be forever disgusted that you did not fight a little more about the price, but did not have to risk loosing the diamond, or do you go and fight for what you think is fair, knowing that you could lose the diamond that you really LOVE.

Choices. You have many to make, but first be sure to understand the process.

Wink

 

[WinkHPD]

Price difference is between 10.6k and 12.4k.

They're also doing the custom ring setting, but ring designer only place was also willing to do the custom ring setting for almost the same price (300 cheaper with the jeweler).

No other real additional services I can think of. Didn't ask.

Hmmm, seeing this, a 17% increase. I think your choices just got a lot easier.

Wink

P.S. It is important to remember that I am an Internet vendor and may be biased in favor of one of the Internet vendors. I do also, however, remember what it was like to be a retailer and to pay the extra overhead involved with a physical store. It costs money to have a storefront. BUT! This guy is claiming to be a wholesaler, he should be able to sell to an Internet vendor at a price that allows the Internet vendor to sell to you at $10.6k.

To quote the bard, "Oh what a tangled web we weave, when first we practice to deceive."

Apologies if I mangled the quote, but it conveys my opinion of retailers calling themselves wholesalers...

 

[krzyx]

What do you mean by: The vendor who you talked with may wish to buy it, with our without your purchase.

I am not familiar with that as the vendor had it on hand to show me personally.

I guess my priority is color as the one shown was a J. I want more bang for my buck. I liked it together with all the other specifications as it was still very white and shiny as an I he showed me. But for that price, I feel that I could get the same that is better color grade and even more white and shiny.

Edit: had originally said other diamond was an H but it's an I

 

[krzyx]

So I asked and even linked to the online source. The response from her was that internet vendors will typically quote a very low price and when you call up the online vendor, they will state that it is no longer available and try to push another diamond on you. I guess bait and switch tactics.

What are your guys' thoughts? I saw that I had an online retailer comment and would appreciate your thoughts as well.

Also, what happens if I did call and see and they told me its unavailable? Could it mean that they would've just contacted the wholesaler anyways (since they have physical possession) and could just say no, since they're no aware that I'm able to ask between the online vendor and the actual wholesaler that has it.

 

[msop04]

So I asked and even linked to the online source. The response from her was that internet vendors will typically quote a very low price and when you call up the online vendor, they will state that it is no longer available and try to push another diamond on you. I guess bait and switch tactics.

What are your guys' thoughts? I saw that I had an online retailer comment and would appreciate your thoughts as well.

Also, what happens if I did call and see and they told me its unavailable? Could it mean that they would've just contacted the wholesaler anyways (since they have physical possession) and could just say no, since they're no aware that I'm able to ask between the online vendor and the actual wholesaler that has it.

This is the typical answer from a B&M jeweler in an attempt to scare you away from online sales. There are a lot of reputable online vendors that are "PS-approved" who are legit. In my experience, any talk with retailers about on buying diamonds online is never positive. They almost always discourage it. That's just how they are, because they want your business.

 

[Cricketcat]

You could always just call the online vendor and inquire about the diamonds status.

 

[krzyx]

Yea. I called them and they said they'll have to get back to me by tomorrow. But I just don't understand. It looks like I could add it to the cart and just purchase it. What would the online vendor do if I had completed the purchase? Call me and tell me it's not available? Don't the wholesaler and retailer have some sort of contract that if they sell it the wholesaler has to make it available? or is that not the case?

 

[Diamondbug]

Call me and tell me it's not available? Don't the wholesaler and retailer have some sort of contract that if they sell it the wholesaler has to make it available? or is that not the case?

Yes, you add the stone to cart and check out. They do not charge your card till they confirm the stone is still available. If it is, then they will charge your card. If not, the contact you with some apologies and try to recommend similar stones.

It is my understanding that there is a diamond inventory list from all over the world that only jewelers have access. They can pick the stones they want to list in their inventory. Stones that they purchase will be in house inventory and others will be virtual inventory that they can call in if a buyer is interested in a particular virtual stone. So the vendor have to inquire whether a stone is still available and if yes,bring it in. If the buyer decides no, then the stone gets sent back to whoever owns it and back on the inventory list. This is why sometimes you can find the same stone listed with multiple vendors.