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TOO GOOD TO BE TRUE??

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dshap1984

Rough_Rock
Joined
Jun 26, 2009
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I’m trying to buy an engagement ring, and am looking for a round, 1.75 ct, H, SI1 I’ve gone to many jewelers and so called “wholesalers” to check prices, look at different stones under the loop, and get a starting education on diamonds before buying. Pretty much every place has been around the same price. One small antique store owner (who said he doesn’t really sell diamonds anymore) allowed me to go on this website www.polygon.net. He let me browse around with his user ID and said this is a site that allows dealers world wide to list there stones and sell to other dealers. The prices on this site were DRASTICALLY lower. The same GIA certed 1.75, H, SI1, Exc Cut was listed for $5,000 per ct versus the retailers who are charger between $7,500 -$7,800 per ct. I know there are a LOT of costs that go into owning a store, but is there really that much of a mark-up on diamonds?


I would like to work with this one store owner, pay him a commission to help me buy a diamond via this Site. Is this site legit? Or does the saying “If it’s too good to be true, it probably is, and you’re getting ripper off” apply in this case


Anyone have experience with buying diamonds on cert.net or polygon.net?

Any help is very much appreciated.

Thanks,
Dan
 
Did the dealer explain that he is able to load a mark-up over cost code into his system for when you do the Polygon search? Now, he may be a true prince and work for a fixed commision above actual cost, and one must expect any seller to make a profit, but what are you being told? Are you being told the diamond is to be sold to you with no profit margin? It would be very unlikely unless there is a buying commission being openly charged. If you are being treated honestly, then all''s well. If you are being taken advantage of, then be advised.

Diamonds can still have a high mark-up, but more often than not they are competitively to very competitively priced. The mountings often carry far more mark-up which covers the store or vendor''s overhead. The same applies to Internet vendors. When you want a non-brand name mounting, you can shop both in local stores, small jewelry shop and on the Internet for which firm can best help you at the right level of price and service.

Just like choosing to go to a fine restaurant cost more money than going to a fast food place, you can make the choice which fits you best.
 
Date: 6/26/2009 10:04:17 AM
Author:dshap1984


I’m trying to buy an engagement ring, and am looking for a round, 1.75 ct, H, SI1 I’ve gone to many jewelers and so called “wholesalers” to check prices, look at different stones under the loop, and get a starting education on diamonds before buying. Pretty much every place has been around the same price. One small antique store owner (who said he doesn’t really sell diamonds anymore) allowed me to go on this website www.polygon.net. He let me browse around with his user ID and said this is a site that allows dealers world wide to list there stones and sell to other dealers. The prices on this site were DRASTICALLY lower. The same GIA certed 1.75, H, SI1, Exc Cut was listed for $5,000 per ct versus the retailers who are charger between $7,500 -$7,800 per ct. I know there are a LOT of costs that go into owning a store, but is there really that much of a mark-up on diamonds?




I would like to work with this one store owner, pay him a commission to help me buy a diamond via this Site. Is this site legit? Or does the saying “If it’s too good to be true, it probably is, and you’re getting ripper off” apply in this case




Anyone have experience with buying diamonds on cert.net or polygon.net?

Any help is very much appreciated.

Thanks,
Dan
Click to expand...
It sounds like the antique shopowner is flexibile and willing to work with you. I would find your ideal diamond from his search and then compare the price to similar diamonds using the pricescope search (Stick with GIA or AGS grading and take into consideration (Colour, Carat Weight, Clarity, Cut Grade) and try to compare an apple to an apple as closely as possible.
If you are buying a round diamond you can compare specs much more easily to get you a ballpark. You will save significantly if you go with an online store over a retail store, both in selection and in price. Many of the online vendors may make only make 5-10% on a diamond they have to order in for you(not one in their inventory).
So you may get just as good a deal from many of the vendors here as you would from the polygon search.
If you want us to look at your final pick post us the certificate and images and we'll help you decide if it is a good deal or not and if you have better alternatives.
 

The store owner said he turned off the function to add a hidden mark up. He really wanted nothing to with the sale and allowed me to search the site on my own (he said he''s not in the diamond business anymore and only sells antiques in his store, but is a life time member of this organization). The site lists thousands of diamonds and when you select one it gives you the address and phone number of the dealer. He said I could contact the dealer on my own and organize the sale.


I met this store owner at the begining of my diamond search, so I didn''t know exactly what I was looking for.


I''m planning on going back to the store and see if he will let me use the site again.


If he let''s me, can I orchestrate a sale at the price listed on the site myself? The site is supposed to be for jewelers only. That''s why, if I couldn''t get a dealer to sell it to me at the listed price, I was going to try and offer the store owner a commision to help orchestrate the sale (he wasn''t asking for $ the first time).


I was also shocked that the prices were so cheap. Comparable diamonds were about 40-50% more expensive in retailers. Does that sound right? What type of mark up do retailers have on diamonds?


Thanks for the advice. This is getting to be a rather stressfull proceess. I''ve never spent this much money on one thing before. I want to get the best deal, but don''t want to get ripped off.

-Dan
 
Thanks, I''m going to go today and see what I can find. I''ll get a copy of cert and would love you guys to take a quick look before I buy.

THANKS!
 
Yes, Polygon is legit although I’m with David in wondering about your chosen jeweler. The low end of 1.75/H/SI1/GIA from the dealers here seems to be about $6k/ct. Comparing to the low end you’re quoting from poly that’s about a 20% mark to retail. The story that he's 'not in the business' anymore doesn't quite hold water. Aside from the obvious fact that he's making a diamond deal here, Poly is not a free service. In fact it's sort of expensive. Why is he a subscriber if he's not in the business? No, you can't buy if you aren't a subscriber and even if you are you can only buy if the seller agrees to it. There are hundreds of different sellers and they do not all have the same terms and conditions.

If you spot a stone that appeals to you, get the GIA report number from it and ask the other suppliers how much they want for THAT stone. Most can get it if you ask and you can easily shop them against one another.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 
Polygon at one time offered "life membership." It appears that this person is a "life member."
Life memberships are no longer offered....so he could still be in the trade under this membership designation.
He should not however allow you to use the website with his trade access (password). Polygon is
a trade only network with a monthly subscription rate involved. It is password protected for a reason.

www.metrojewelryappraisers.com
 
There are some life-members of Polygon. Most "lifers" have enough respect for the industry which gave them a decent living not to help ruin it in their retirement, but not everyone would agree with me. They ought to know better than to allow a consumer to use this dealer only network, especially with unrestricted access, but it is up to Polygon to police itself, not us, I suppose.

Polygon''s functionality of a hidden mark-up cannot be disabled or eliminated. It can be set to zero mark-up and that may be what he has chosen to do although there should be some lingering doubt on that count. Once in a great while you meet someone who will work for free, but we find it difficult to pay for overhead with such a strategy. If this person is no longer in the trade, I would think Polygon would place him on a limited access basis until he gets back into business. However, how would they know?
 
Date: 6/26/2009 10:04:17 AM
Author:dshap1984

I’m trying to buy an engagement ring, and am looking for a round, 1.75 ct, H, SI1 I’ve gone to many jewelers and so called “wholesalers” to check prices, look at different stones under the loop, and get a starting education on diamonds before buying. Pretty much every place has been around the same price. One small antique store owner (who said he doesn’t really sell diamonds anymore) allowed me to go on this website www.polygon.net. He let me browse around with his user ID and said this is a site that allows dealers world wide to list there stones and sell to other dealers. The prices on this site were DRASTICALLY lower. The same GIA certed 1.75, H, SI1, Exc Cut was listed for $5,000 per ct versus the retailers who are charger between $7,500 -$7,800 per ct. I know there are a LOT of costs that go into owning a store, but is there really that much of a mark-up on diamonds?



I would like to work with this one store owner, pay him a commission to help me buy a diamond via this Site. Is this site legit? Or does the saying “If it’s too good to be true, it probably is, and you’re getting ripper off” apply in this case



Anyone have experience with buying diamonds on cert.net or polygon.net?

Any help is very much appreciated.

Thanks,
Dan
Click to expand...
Something is not adding up here and I am not sure what it is.

Polygonners are ALWAYS complaining that their vendors have diamonds listed on places like Blue Nile for less than they are listed on Polygon for and it makes them mad. Some of the vendors rightfully tell the mad Polygonners that when they start buying and paying up front instead of wanting every thing on memo and paying in 90 days that they will get BN pricing too. (Gonna be a cold day!)

Diamond prices are incredibly competitive these days and other than some of the big brand names such as Tiffany I do not know of anyone making the kind of margins you are talking about.

Hmmm, unless you have only been going to B&M stores, some of whom call themselves wholesalers when they are stricktly retail by definition since they are selling to you, the end user rather than to the trade, who is not fooled by their fictitious name.

Hard to say why you are seeing such disparities unless you have not been shopping on the net, which would explain the difference. I will say that your jeweler is violating a signed agreement with Polygon, which puts him firmly in my NOT TO BE TRUSTED catagory. If he will cheat someone else, you might well expect that he will cheat you too, but that is just my unfounded opinion of people who cheat.

Wink
 
Hey, Wink--

That blinking avatar is driving me nuts! It''s really hard to read your post with the thing blinking in the corner of my eye. Any way you could make it stand still?

I say this with the deepest respect and in a spirit of trying to be helpful. I hope you don''t mind my speaking up.

(And everybody else, sorry for going off topic.)
 
I do not mind at all, I prefer it.

My web guy and I thought it was genius. Now I am wondering how others feel.

If any one else feels like chiming in, please do. I wont be able to change it tonight, but can probably do so on Monday. Be nice to know what others think though.


Wink
 
Date: 6/26/2009 11:05:21 PM
Author: Wink
I do not mind at all, I prefer it.

My web guy and I thought it was genius. Now I am wondering how others feel.

If any one else feels like chiming in, please do. I wont be able to change it tonight, but can probably do so on Monday. Be nice to know what others think though.


Wink
Click to expand...

My cat likes to pounce on the moving Avatars.. i wanted to know how i could get one myself!
1.gif
 
Wink.....I think your blinking avatar is awesome!

But I could be slightly biased because mine blinks too
10.gif


No different than a blinking banner ad that is so common these days.

I say let the PS community decide.

www.metrojewelryappraisers.com
 
It doesn''t worry me Wink.
 
ya, animation avatar doesn''t bother me.

hawaiianorangetree, just use an animating gif for the avatar.
 
Am I the only one?

I don't mind Jeff's, but I find Wink's so distracting that I have to move the window so it's off the page, or I can't read the post (which makes it hard to tell who's posting).

Maybe Jeff's is better because it's blue? Because it's slower? Because only part of it blinks, not the entire image? Because the background color stays the same? I'm not sure why, but there's a big difference for me.

Luv ya anyway, Wink!
 
Date: 6/26/2009 11:05:21 PM
Author: Wink
I do not mind at all, I prefer it.

My web guy and I thought it was genius. Now I am wondering how others feel.

If any one else feels like chiming in, please do. I wont be able to change it tonight, but can probably do so on Monday. Be nice to know what others think though.


Wink
Click to expand...
Its a form of torture! My eyes cant take it!
40.gif
 
Date: 6/27/2009 9:14:13 AM
Author: Modified Brilliant
Wink.....I think your blinking avatar is awesome!

But I could be slightly biased because mine blinks too
10.gif


No different than a blinking banner ad that is so common these days.

I say let the PS community decide.

www.metrojewelryappraisers.com
Click to expand...
Yours is very subtle and doesnt hurt my eyes! I actually like your avatar as the colours and movement are soothing.
 
Wink, I gotta say that I find the avatar a little distracting, too. I think it is the frequency, a bit slower might work better, or maybe having it fade in and out instead of an abrupt change.

Just my 2cents.
 
Date: 6/27/2009 10:52:30 AM
Author: glitterata
Am I the only one?


I don''t mind Jeff''s, but I find Wink''s so distracting that I have to move the window so it''s off the page, or I can''t read the post (which makes it hard to tell who''s posting).


Maybe Jeff''s is better because it''s blue? Because it''s slower? Because only part of it blinks, not the entire image? Because the background color stays the same? I''m not sure why, but there''s a big difference for me.


Luv ya anyway, Wink!
Click to expand...

I find it annoying also.
Jeff''s doesn''t bug me because it is a less drastic change.
 
It is history. I will change it Sunday or Monday.

I hope our original poster has his question answered. Sorry that this got thread jacked.

Wink
 
The threadjack was my fault--apologies, Dan!!

(And thanks, Wink!!)
 
I am most interested to see if the dealers will actually sell to you for anywhere close to that price, or if they''ll just roll their eyes at Mr. "I don''t sell diamonds anymore" letting you into the database and say sorry, that''s not the kind of business I do . . . As of yet, this antiques guy hasn''t really given you a deal or quote on anything; it''s all contingent on you making the deal yourself, as far as I understand. Hmmm . . .
 
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