Update- NSC Raised prices 15%, won''t honor old price!

[lamowery]

Hi,
I posted a thread yesterday that I was about to purchase this stone from the Natural Sapphire Company:
http://www.thenaturalsapphirecompany.com/Sapphires/Blue/Cushion/stoneid=B771
i was looking for advice because I was concerned about the cut and a small blemish on the surface.
Yesterday, the price was $16,320. today, $18,624. I told them I wanted to wait to decide until next week because I wanted to view a stone from Richard Wise ( at the recommendation of someone on this website), and that I wouldn''t receive the stone until Saturday. The NSC told me that unless I bought it now, they would not honor the price next week, no exceptions.

Is this normal in the business? Aren''t we in the middle of a recession? Does anybody have any opinion on this?
We are assuming that we won''t be doing business with them now!
Thanks!
Lauren

 

[jvLin]

People will do whatever it takes to get more money these days.

Sometimes, they'll even raise the price so that people will snatch it up. People think that if they don't buy it soon, it'll go up again. This isn't just normal in "the business," it's normal in most businesses.

Just wait; next week, they'll drop the price, and then someone will grab it immediately thinking they got a "huge discount," when it was actually slightly overpriced in the first place.

I'd say that stone is worth no more than $14,000. If you know the right people, you can definitely find it for cheaper than that, but if not, I'd say 14k at the most.

The natural sapphire company raises their prices a good 50%-150% of what they buy the stone for. Most people are willing to pay that, since it's so hard to find unheated stones if you don't know all the right people (read: if you haven't been in the business for 20+ years).

 

[lamowery]

Although, I have found in most of my dealings with retailers right now (and I happen to be in real estate sales!) that people are negotiating down in the current economy.

I guess I will keep an eye out to see if the price "drops". Thanks for the thoughts!

 

[lamowery]

By the way, do you happen to know who the "right people" are and where I can find them?

 

[neatfreak]

Personally, I think it''s pretty crappy of them recession or not. They should be willing to honor the price within a reasonable timeframe and a day does not make a reasonable timeframe IMO. It would have been nice for them to honor it, but c''est la vie. Richard has gorgeous stones, so you are in good hands.

 

[Inanna]

Even Tiffany has lowered their engagement ring prices in this economy.

I think NSC is being ridiculous - that stone was already grossly overpriced IMHO.

 

[DiamanteBlu]

A 15% increase? Are you kidding me? Everybody else is lowering prices - especially on the high end. I posted my experiences on Worth Ave the other day in another thread. Retailers there are reducing prices and offering discounts on those - especially if you plunk down the cash. Everybody''s cash flow is suffering these days.

These guys must have either never heard of price elasticity of demand or they are so flush that they don''t care.

And I was expecting to buy a pink sapphire for DD''s university graduation from these guys . . .

 

[secondhandnews]

That''s odd. I check the lower priced sapphires that I have been looking at and they have not raised those prices. Maybe they started with the expensive stones.

 

[movie zombie]

their business, their rules.

personally, i''d buy any stone from richard before i''d buy from them. richard''s eye is impeccable and he is very very honest in his dealings. however, to expect a a business to hold a stone for you to make up your mind without having put down a hold deposit is i think unrealistic. they are in the business to make $ and time is $. even richard will expect you to make a decision in a reasonable time. he is more than willing to send you a stone for preview and charge your credit card for the full amount. his return policy is excellent. however, i wouldn''t have him send a stone unless you''re really interested in it. if you know for a fact you want something more blue, he''ll work with you. the tucson show is coming up and he might find what you''re looking for there.

movie zombie

 

[lamowery]

yea, i checked and noticed that a lot of lower priced stones were the same price. Most of the stones over 3 carats, however, had a price increase unless there were under $10,000 give or take. and ALL of the stones I was considering went up 15%. That stone I posted went from $4250 a carat to $4800.

 

[secondhandnews]

Movie Zombie - If you are talking about Richard Martin, he will not attend the Tuscon show this year.

 

[lamowery]

Well, I didn''t ask them to hold a stone. And we offered to buy it or put a deposit down, but they wouldn''t refund or even exchange later. anyway, it was mostly that we need to make a decision by next week since this is for an engagement ring and we need to get the setting custom made which will take awhile, and yet if it was still available next week, they wouldn''t give us the price from this week. or so they say...

oh well. looking forward to seeing richard''s stone and will give you all an update if interested!

 

[CharmyPoo]

They sound like a pretty cruddy company to deal with. I hope the sapphire works out for you.

 

[Harriet]

Unless the stone is truly special, I''d say "bye" to the NSC. They are not being customer-friendly in your case.

I''ve found their cutting to be lacking (and this from someone who doesn''t prioritise cut). I once viewed a hot pink sapphire there, which had a big old inclusion under the table. The rep tried to convince me that it couldn''t be seen, unless you looked closely. And, it was unequivocally an eye-visible inclusion.

 

[coatimundi_org]

Wow--in this economy?? Lame. I''d skip them too.

 

[DiamanteBlu]

So where do we look? Any suggestions? I am looking for a great pink square cushion in an 8x8ish size.

Thanks.

 

[movie zombie]

Date: 12/31/2008 3:18:25 PM
Author: secondhandnews
Movie Zombie - If you are talking about Richard Martin, he will not attend the Tuscon show this year.

Richard Wise is who i was referencing.

movie zombie

 

[Diamond*Dana]

I think that it is a bit ridiculous that they will not honor the price from just one day ago...I would check out the other suggestions that have been made.

 

[lamowery]

Other than Richard Wise, does anyone have any other suggestions of where I should look or who I could contact re: untreated sapphires?

 

[AmberGretchen]

I''m sorry they treated you that way - I understand that they are allowed to have whatever policies they like, but that just seems kind of crappy to me. I hope you are able to find another stone that you like from a vendor who will treat you better.

 

[icekid]

too bad about NSC

I think you''re in fabulous hands with Richard Wise. Jeff White (whitesgems.com) has also cut some beautiful unheated sapphires lately!

 

[cinnamon013]

I''d check with Jeff White. I''ve never been that impressed with NSC.

 

[LD]

In the current economic climate ANY company who turns away business like this isn''t going to survive. I could understand it if it were a $500 gemstone but we''re talking much more $$ in your case.

They won''t accept returns or exchanges? Sorry but that just doesn''t sit right with me. Basically they''re saying "buy this and if you don''t like it, tough". Would I want to spend money with a company like this? NO NO NO.

You''ve had some great tips on where else to look and I''m sure one of those gentlemen (who treat customers as valued customers) will be able to source you your ideal stone if they don''t have it in stock.

 

[T L]

I agree with the others that Richard Wise, Jeff White and Wink Jones (via Palagems) may have some better options for you.

I would never ever shop with a company that doesn't accept returns or even exchanges at the very least.

What about Richard Homer, he has some drop dead gorgeous material, and he cuts in a very fancy concave cut. It might also be an option. You can obtain his material through Wink Jones as well.

People on this board are talking about John Dyer who cuts some gorgeous material, perhaps again he might have something.

 

[westjenn]

That''s truly disappointing. Sorry you''re having to deal with a price hike like that. I''ve been looking at simplysapphires.com, might be worth a shot.

 

[brendaman]

I think you''re in NYC and Cherrypicked is there as well. Most of the stones on their website are sold, but I understand that if you call him, he might have others. Also, Leon Mege, who is beloved by many here on PS, is a cutter who has sourced some sapphires for others.

 

[T L]

Date: 12/31/2008 8:31:04 PM
Author: brendaman
I think you're in NYC and Cherrypicked is there as well. Most of the stones on their website are sold, but I understand that if you call him, he might have others. Also, Leon Mege, who is beloved by many here on PS, is a cutter who has sourced some sapphires for others.

There was someone on this board that was looking for an unheated sapphire and went in person to NSC. He didn't like how he was treated, and he was not allowed to take pictures of the stones. He then went to Leon who offerred him a 3 carat heated sapphire which was around 10K according to the buyer. The cutting on it wasn't perfect, but Leon talked him into an expensive heated 3 carat sapphire. As someone that does not claim to be a sapphire expert, I'm not sure if that was a fair price for the stone, it could have been, but I don't know.

Now, if you do want a heated stone, stick to your guns, and don't let someone talk you out of it, unless you feel the price is fair. Leon really specializes in fancy semi-mounts, which are works of art. I'm not so sure about colored stones, others would be able to comment better on that.

 

[Harriet]

Date: 12/31/2008 7:07:07 PM
Author: lamowery
Other than Richard Wise, does anyone have any other suggestions of where I should look or who I could contact re: untreated sapphires?

Pala, which sells through jewellers only. Try Richard Wise and Richard M.

 

[Harriet]

Date: 12/31/2008 8:31:04 PM
Author: brendaman
I think you''re in NYC and Cherrypicked is there as well. Most of the stones on their website are sold, but I understand that if you call him, he might have others. Also, Leon Mege, who is beloved by many here on PS, is a cutter who has sourced some sapphires for others.

Leon is not a cutter, but he can source great stones.

 

[brendaman]

Thanks, Harriet! Sorry, I was in a rush to go to dinner, but didn''t want to miss a PS post

.

Leon does custom jewelry, and I think TL was talking about a post by someone who was asking about finding sapphires in the NYC Diamond District.

Hope this helps you.

Happy New Year, Everybody!!