Those who have bought/shopped for diamonds.....

[NakedFinger]

Has your found this has happend to you too????

My FFI and I were looking online for the diamond. I have THE RING.....the specs were EXACTLY what I was looking for (I am getting a cushion, so there are a lot of variables I need to have). We wanted to make sure everthing was good, and asked the GIA certificate be emailed to us. It took about 3-4 days, we opened it, confirmed everything, and went back online last night to order it, and it was $1,100 more than it was 3 days ago!?!?

It is def the same ring, same item number.

Have you found that diamond prices tend to fluctuate like that? I''m so irked

 

[that_someone_special]

No, and honestly? I would NEVER buy from a place like that if it went up THAT much. I would bring it up to them.
"Hey a few days ago, this was $xxx, and now it''s $xxxx, can you explain why?"

 

[BlueSki231]

That''s kinda odd.. I haven''t seen that in my shopping...

I would definitely ask about it.. one possibility is that they put the wrong price on the stone to begin with.. and then someone noticed it and adjusted it.

Have you noticed price fluctuation on any other stones that specific vendor sells?

 

[Iowa Lizzy]

Actually, the opposite has been happening lately. I keep a spreadsheet on my computer with "acceptable" diamonds. I note the item number and the price, and lately, the prices have been going way down.

I would definitely call the vendor and ask what the deal is.

 

[NakedFinger]

Ladies, thank you for the input.

I did call the jeweler and did find out what happened. Every Friday, diamond prices get updated. It isn't the company I am using, it the entire diamond industry. They said every Friday, there is something that goes out called the "wrap rapport" which they described as "basically the kelly blue book (for cars) of the diamond industry". She said sometimes the prices go up, and sometimes they go down....or sometimes they stay the same. The prices are given to them based on demand and such.

I found this very interesting, and honestly had no idea. I thought the price was the price lol

They said unfortunately, because on the very specific, rare, in demand type of diamond I am looking for...that's prob why the price jumped so much. I must say I am bummed....because not only did the price go up, but in the time it took from when I first looked at it and was waiting for the certificate to now, the diamond actually got sent out to another jeweler.

They said there is a chance it may come back if they end up not using it....so I guess I'll keep my fingers crossed. If not....back to searching again!

Just thought this info was handy to know for you all as well.....

 

[mrscushion]

Date: 1/13/2009 3:05:55 PM
Author: NakedFinger

They said every Friday, there is something that goes out called the 'wrap rapport' which they described as 'basically the kelly blue book (for cars) of the diamond industry'.

I guess that's the Rapaport Report they're referring to? https://www.pricescope.com/prices.asp

 

[sammyj]

Date: 1/13/2009 3:12:28 PM
Author: mscushion

Date: 1/13/2009 3:05:55 PM
Author: NakedFinger

They said every Friday, there is something that goes out called the ''wrap rapport'' which they described as ''basically the kelly blue book (for cars) of the diamond industry''.

I guess that''s the Rapaport Report they''re referring to? http://www.pricescope.com/prices.asp

Hmmm...in spite of their explanation, a $1100 increase is HUGE!!! I''m somewhat skeptical that there would be such an increase on the diamond/ring...but I guess it depends on the initial price. If it was $20k...a 5% increase isn''t as hefty as say a 20% increase on a $5000 ring.

From what I understand about the Rapaport...it''s just a guideline for jewellers. The rapaport will represent the base cost and the jeweller can choose to mark it up as much as they want. I''m guessing that without that $1100 increase the price would still be well above rapaport pricing.

If anyone else wants to chime in, please do!

 

[BlueSki231]

Date: 1/13/2009 3:19:09 PM
Author: sammyj

Date: 1/13/2009 3:12:28 PM

Author: mscushion

Date: 1/13/2009 3:05:55 PM

Author: NakedFinger

They said every Friday, there is something that goes out called the ''wrap rapport'' which they described as ''basically the kelly blue book (for cars) of the diamond industry''.

I guess that''s the Rapaport Report they''re referring to? http://www.pricescope.com/prices.asp

Hmmm...in spite of their explanation, a $1100 increase is HUGE!!! I''m somewhat skeptical that there would be such an increase on the diamond/ring...but I guess it depends on the initial price. If it was $20k...a 5% increase isn''t as hefty as say a 20% increase on a $5000 ring.


From what I understand about the Rapaport...it''s just a guideline for jewellers. The rapaport will represent the base cost and the jeweller can choose to mark it up as much as they want. I''m guessing that without that $1100 increase the price would still be well above rapaport pricing.

If anyone else wants to chime in, please do!

I agree.. I don''t think every jeweler does this. I have my eye on a couple stones at GOG and I''ve never seen the price fluctuate on the stones I like - and some of them I''ve been "watching" for at least 6 months!

Maybe you could post this in RockyTalk.. I''m pretty sure some vendors actually post there so maybe they''d have more input on this.