Walmart Diamonds

[pricescope]

We used to talk how Internet affect diamond business. However, there is a bigger threat to B&M jewelry stores. Giants like Wal-Mart and Costco also sell a lot of diamond jewelry now.

I just made some searches on Yahoo! and stumbled upon this Walmart banner. Now you can design your own ring on Walmart site too!

of course to check prices.

. It looks like they target certain budgets, in this case 1 carat for $3K (in simple 14K white gold ring).

1 carat, however, can be from 0.95 to 1.10. It is uncertified I color and I2 clarity.

Come on! You could do better than that in the web. I found quite a few EGL certified 1 ct H SI2 for that money listed in the 'net.

One thing I like about Wal-mart is their return policy and best price guarantee. Check this out (from Wal-Mart website):

Best Price Guarantee
**Wal-Mart and Keepsake are committed to offering Certified Quality Jewelry at Every Day Low Prices.

Wal-Mart is so confident of the Keepsake Quality that we are offering a Best Price Guarantee. If you find the same item for less elsewhere, we will match the price plus refund 20 percent of the price difference.

In order to receive the matched price plus 20 percent of the price difference, your claim must be accompanied by the original Wal-Mart receipt and a certification or appraisal from a certified appraiser specifying that the other item is the same or better in terms of cut, clarity and color. (This policy does not apply to items found at pawn shops or warehouse clubs and is limited to the local business area within a 50-mile radius of the Wal-Mart location.)

Does it mean if I buy a diamond ring from Walmart website I should compare prices in the stores within 50-mile radius as well?

[/u][/u]

 

[Iceman]

I had a customer bring in a .25 marquise solitare diamond ring from wallmart. The quality was better then the mall stores and the price was good enought to even make me think if it was worth going after the sale. I would say 90% of the internet and B&M stores would not.

Your right we are in for a bumpy ride. Its all who you market yourself for. Only certain people will buy from there, if that is your market then you need to make some changes.

After Goldman pulled that one with wallmart, we have dumped the Keepsake line.

I had a nice comment the other day, third one I heard in the last 5 days. They said they can always tell what diamond that I sold in this area because mine always have a nice look to them. Cut is King , nobody in this area has a clue

 

[fire&ice]

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On 6/3/2003 6:57:36 AM leonid wrote:

Wal-Mart is so confident of the Keepsake Quality that we are offering a Best Price Guarantee. If you find the same item for less elsewhere, we will match the price plus refund 20 percent of the price difference.

In order to receive the matched price plus 20 percent of the price difference, your claim must be accompanied by the original Wal-Mart receipt and a certification or appraisal from a certified appraiser specifying that the other item is the same or better in terms of cut, clarity and color. (This policy does not apply to items found at pawn shops or warehouse clubs and is limited to the local business area within a 50-mile radius of the Wal-Mart location.)

Does it mean if I buy a diamond ring from Walmart website I should compare prices in the stores within 50-mile radius as well?

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[/quote]

This could be a money making proposition. I wonder if they have a limit on how many times you could get the 20%?

 

[Iceman]

Kays merchandise use to do that and one of my clients told them about my price and they said "I cant match that price"! and kicked them out

I will pull that one on a local wall mart

Thats a bold statement that few will back up

 

[pedromt]

Please do Ice, and let us know how it goes

 

[Iceman]

Im evil

 

[StevL]

Sams Club here just had a diamond sale showing over a hundred diamonds from 1 carat to over 5 carat.

I went to scope it out and it was a great display of inventory.

 

[Nate]

Best Price Guarantee
.
.
.
certification or appraisal from a certified appraiser specifying that the other item is the same or better in terms of cut, clarity and color.
.
.
.

Does that mean I can buy a 2ct at Walmart, then go find a 0.1ct stone with the same cut, clarity, and color and they'll pay me the difference?

 

[jsindrich]

Hello, I am a reporter writing a story about this very topic. I'm looking for someone knowledgable to talk to. Could you or anyone here help me out? more details offered via email or phone, of course.
[email protected] or [email protected]

Thank you!
Jackie