Urgent: Suggestions on getting jeweller to drop price?

[Adrian]

I want to purchase the diamond engagement ring that my girlfriend and I vastly preferred over anything we've yet seen. She has very thin fingers and the typical engagement ring sticks out way too much.

At Ben Bridges we saw a lovely setting that looked really good and was very 'low' compared to all the other rings we've seen. The ring is platinum with a designer wave to it. The diamonds are a triplet - one center one (0.32 carat, round brilliant, Tolkowsky ideal cut, F, SI1 and very noticably more sparkly than most diamonds we've seen) and two small side ones (total 0.10 carats, light pink). The asking price is 2695 dollars which seems way overpriced given the size and quality of the stones).

What's a realistic sort of price range for the ring? My estimates were $700 to $1000 for the middle stone, maybe $300 max for the two side stones and maybe $500 for the ring. That gives a range of 1500 to 1800 which is far short of the 2695 they're asking.

Are there any tips you can give for bargaining the price down to a more reasonable level?

Both my girlfriend and I love the diamond and since it's far better than anything else we've seen I'll buy it at the asking price if I have to but I really think it's massively overpriced.

Thanks in advance for help. I'm intending to buy the ring tomorrow at whatever price I can get it down to so any quick tips would be greatly appreciated.

 

[wade_44]

Don't let them know how bad you want that ring! If they sense that, you are done.

If you are truly not happy with the price, just tell them thank you and walk away. Be nice, and they will probably lower it some more. But if they call your bluff, walk out. The ring will be there tomorrow and you can go back and get it then.

The main key is to be polite, but be ready to walk if they won't bargain. Don't let them intimidate you; they want to sell the ring, but you have to be tough!

Good luck, and let us know how it goes.

 

[Richard Sherwood]

Here's what I've found to be the most effective technique. I've both used it, and had it used on me.

Tell the seller that you absolutely love the stone. It is everything you've been looking for. But unfortunately, it is more money than you have to spend.

Then, kind of hang your head and look morose while you fondle the ring lovingly. Sigh, and put it back on the jewelry pad with regret.

The salesperson will then try and close you, probably with a price drop of some sort. Tell him you really appreciate what he's doing for you, but is there any way to get the ring into your budget?

If he's not the owner or manager, and doesn't budge, ask him "Do you think the manager would be able to help us out in any way? Is he around? Let's ask him."

Then, use the same approach with the owner/manager. Get him as low as he'll go. You'll always know he's at his lowest if he is prepared to let you walk, rather than close the sale. Don't be afraid to look like you're going to walk. You might even say, let my fiancee and I take a walk around the (mall...plaza...parking lot) and discuss it. He'll be reluctant to let you walk out the door if he has any room to move. Usually people who go out the door don't come back.

Above all, don't insult the ring or seller in any way. Sellers will drop prices more for people they like than people they don't.

When you've finally got the seller down as far as he seems like he's going to go, but it's still not as low as you'd like it to be (but your girlfriend is about to scream because she wants it so bad), say to him "Look, you want $Z,ZZZ, and my budget is $X,XXX. Let's be reasonable, and split the difference at $Y,YYY.

He might come to $Y,YYY, or he might not. If not, ask him "Well how much will you split with me?" Act like you're trying your best to be reasonable, so can he reciprocate?

If you only get another hundred out of him, that's a $100 you made in five minutes. Not bad wages.

Rich, GG
Sarasota Gemological Laboratory

 

[fire&ice]

Rich has good advice. Yes, don't insult the ring. Don't insult his pricing structure. And if he meets your goal, be prepared to buy.

A pet peave of mine is when someone says "I'll give you x for this". I would avoid this approach. At the end of discussions, if you are still too far apart, you can approach the number you would like by saying "I really was thinking about only spending my budget of x" and, again, look pitiful.

 

[Adrian]

Well, I went for it...

After a lot of looking pitiful and talking about cheaper rings and my intended budget of $2000, the lady dealing with me agreed to contact corporate to see if she could give me a discount. They came back with 5% to give 2560 instead of 2695. At that point I tried the taking a walk around the mall approach, did some shopping and when I came back half an hour later and made the counter offer of a round 2500 to get it a little closer to my budget. Corporate accepted that. The best part is that they can resize the ring by tomorrow afternoon so I can pop the question with ring tomorrow evening...

Thanks for the advice. I may not have got stunning value but the ring itself was by far the best we found and really is gorgeous.

 

[fire&ice]

Good for you. It sounds like this is the one she wanted!

 

[dbretton]

The best way that I have found to deal with a jeweler (in the US) is the car salesman approach: wear the salesperson down.

This is done by walking in, viewing the items, and continually waxing and waning interest over various items. When you find something that you want, express great interest in the item. ("That is very nice. I like that")
Make it clear that you desire to buy the item.
Ask them about specifics. ("How many carats? What is the country of origin? What ...").
Ask them for their price.
Then ask, "Is that your best price that you can offer?"
Regardless of how they answer, begin to show a bit of disillusionment with the item (like you are teetering on deciding).
Ask more questions about the item, while gradually losing interest in the particular item.
I like to ask, "do you have something like this, or of this quality, but smaller?".

Start asking to look at other items that are similar.
Then look around at items that aren't so similar.

Keep the salesperson hooked. Don't ever pretend that you are totally disinterested. You need to keep them thinking that you want to buy something, now, and that the "close" is just a few sentences away...

Continue examining items, and occasionally refer back to the item that you really wanted (e.g. "This is nice, just like X", "This is not quite as nice as X", etc.)

Always be nice and complimentary about the clerk and the stock!


The longer you can afford to spend, the more likely they are to come down on price.

At the end, wane nearly all your interest. ("Gee, you have some really nice stuff, but the only thing I really liked was X").
Then ask again: "Is that the best price you can do?"

They will usually come down a lot more that last time. Your interest should wax again. Have the clerk take it out again. Examine it some more. If you have a price in your head, let them know ("Gee, are you sure you can't come down to, say 90%OfMyPrice? That's about all I could do right now...").

If they still won't come down, ask if the manager can help you meet the numbers...

-D

 

[jetcaptain]

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On 12/9/2002 1:52:58 PM

Well, I went for it...

After a lot of looking pitiful and talking about cheaper rings and my intended budget of $2000, the lady dealing with me agreed to contact corporate to see if she could give me a discount. They came back with 5% to give 2560 instead of 2695. At that point I tried the taking a walk around the mall approach, did some shopping and when I came back half an hour later and made the counter offer of a round 2500 to get it a little closer to my budget. Corporate accepted that. The best part is that they can resize the ring by tomorrow afternoon so I can pop the question with ring tomorrow evening...

Thanks for the advice. I may not have got stunning value but the ring itself was by far the best we found and really is gorgeous.
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Adrian,
As someone who has been married for almost twenty years (yes, to the same lady), I am more confident in this advice than anything else I ever have, or ever will, post on this forum. Forget about the ring--the stunning value is the beautiful lady you are getting! We all have a tendency to get caught up in the allure of the things that this world has to offer. I am certainly as guilty as anybody. But the thing that means so much to us today, whether it's a diamond, a Lexus (or a Chevy), or a house, probably won't mean that much to us next week, next month, or next year. You can chase material things for the rest of your life, but it's still true that you can't take them with you when you go. What is important is that you and your lady are happy (okay, what's really important is that your lady is happy, who cares about you?, but this is graduate-level marital advice;>).

Congratulations! Sounds like you really did it right. Best wishes for a long, happy life together!

 

[Richard Sherwood]

Nice going Adrian. Saved yourself 200 bucks, and made an investment in the rest of your life.

Pretty good start on the Great Adventure.

Rich

 

[RockDoc]

I wrote an article about price negotiation for diamonds.

You can find it on the http://www.consumersgemlab.com site

Select Rockdoc's Secrets to Diamond Negotiation in the left column.

Rockdoc