When i do a pricescope diamond search I see the same stone listed several times

[tribecaguy]

so when i go to the main page of pricescope i see the exact same stone being offered by several different internet retailers. I''m guessing this specific stone is most likely somewhere upstairs in the diamond district of Manhattan and through some listing agency retailers they can list it on their web-site with a markup. I have read companies like uniondiamond only markup by a fraction of a percentage - but how big is this markup really? Also, is there a way to skip the middle man and buy directly from the source? I live in nyc so its crazy to think most of these stones are only a few blocks from me. Is there some secret way to figure out where the diamond is coming from?

In fact, when i walked the diamond district a few days ago with a printout from internet pricing, several retailers claimed they could beat the internet pricing on even the exact same stone. So is internet pricing not the best value? Do these internet companies even carry their own stones or are they merely a broker? If they do carry their own stones, are these usually less expensive as it is then from the source?

Sorry for all the questions - any help is appreciated....

 

[Lorelei]

Date: 4/25/2010 1:16:55 PM
Author:tribecaguy
so when i go to the main page of pricescope i see the exact same stone being offered by several different internet retailers. I'm guessing this specific stone is most likely somewhere upstairs in the diamond district of Manhattan and through some listing agency retailers they can list it on their web-site with a markup. I have read companies like uniondiamond only markup by a fraction of a percentage - but how big is this markup really? Also, is there a way to skip the middle man and buy directly from the source? I live in nyc so its crazy to think most of these stones are only a few blocks from me. Is there some secret way to figure out where the diamond is coming from?

In fact, when i walked the diamond district a few days ago with a printout from internet pricing, several retailers claimed they could beat the internet pricing on even the exact same stone. So is internet pricing not the best value? Do these internet companies even carry their own stones or are they merely a broker? If they do carry their own stones, are these usually less expensive as it is then from the source?

Sorry for all the questions - any help is appreciated....

Hi Tribecaguy

You should find this thread helpful - why are there several dealers offering the exact same stone?

Some vendors, which can include online and store jewellers with access to the same diamonds can sometimes do price matching etc so it can pay to ask if you have a virtual stone in mind to see who can offer the best deal. But bear in mind sometimes the cheapest price isn't necessarily the best deal in the long run depending on the various benefits you might like your vendor to provide. For example, if you don't want to ever upgrade, a ' no frills' package with no upgrade/ buy back policy might be the logical choice for you, however if you might want to upgrade the stone then maybe paying a bit more for an upgrade policy might turn out to be the best value looking at the overall picture.

Some internet companies do carry their own inventory of in house diamonds and have access to the virtual stones also. Some of these in house diamonds might command a higher price than a virtual stone, especially if the vendor offers images, upgrade/ buyback programs etc as they can rightfully charge more than a dealer that just flips the stone. Also the vendors can in some circumstances offer the above benefits on some virtual stones if they meet with their approval as a stone they would be happy to take back as inventory, you would need to ask in any given case.

So to sum up, it depends on what you are looking for but don't forget to shop for a vendor as well as the diamond so to speak!

You are in a great position as you are right in NYC, I don't know if I have listed conveniently located vendors before but below are some you could contact, you would need an appointment with each I believe.

www.goodoldgold.com are in Long Island

www.exceldiamonds.com NYC

www.idjewelryonline.com NYC

www.engagementringsdirect.com NYC

www.exceldiamonds.com NYC

www.jamesallen.com have offices in NYC

 

[CharmyPoo]

Lots of questions but I will try to answer some of them.

1. Many internet vendors carry virtual stones (sort of like a shared source) which results in the same stones listed by many vendors
2. Some vendors who carry virtual stones also have their own inventory (ex. Good Old Gold)
3. Vendors who only carry virtual stones and who don''t have a store front have lower overhead which results in lower prices for their customers
4. Internet vendors have a larger customer base (not limited by geographic location) which results in greater quantity of sales and can pass on these savings