wholesale diamond chart

[tdstl123]

Hi guys,

I am in the process of looking for a diamond to get for an engagement ring. The individual who is selling me the diamond (owns a prestigious jewelry store in my hometown), claims that he is selling me the diamond at its wholesale value due to the history between our families. However, I feel as if he may not actually be selling me the diamond for wholesale and I wanted to just validate some of his claims.

My grandmother, and later my father, used to subscribe to a journal that published a chart of wholesale diamonds based on size, quality, and color. However, I don't know what the journal was called and I don't know how to get access anymore. I was wondering if anyone has a copy of the chart that they would be able to send to me.


-edit-

Thanks,
Eli

 

[Haven]

It's against forum policy for you to share your email in a thread.

However, if you post the diamond's GIA certificate # and the cost of the stone we can look at comparable stones and tell you if you're getting a fair price based on what else is on the market. Perhaps one of the experts will chime in regarding your question about wholesale prices.

ETA: You're wise to get more information before you buy. People with family friend connections in jewelry rarely end up getting great deals. The experts can also comment on the cut quality of your stone if you share the specs.

 

[tdstl123]

Thanks very much for the quick response. I edited my email out. I will try and get that information as soon as he is back from vacation and post it here

 

[TitanCi]

^Rapaport Report?

If so, that's high cash value asking prices.

I feel you'll only get "wholesale" prices if he shows you his invoice and what he really sells to other jewelers for.

When I went to someone that sold to me at "wholesale" they based the final price off of the Rap sheet and it was no different than me buying at a jeweler's.

So.. I'd take what he said with a grain of salt.

 

[tyty333]

Please do share all the specs. Usually the stones seem like a bargin for the color and clarity but its the cut that is really lacking
(And most people don't know enough about cut to know whether the stone is a good performer or a step above a dud.) We get these post all the time and it really bugs me when a friend-of-a-friend or an old family jeweler takes advantage of someone. Not saying that is happening here...trust but verify might be a good motto.

You may be talking about rapaport but that is pretty useless to consumers.

 

[denverappraiser]

‘Wholesale’ is a terribly misleading word in the diamond business. Stores don’t all pay the same prices, a particular store doesn’t pay the same prices in all circumstances and there are some off-chart variables that are extremely important so ‘wholesale’ varies quite a bit. At least half of the retailers out there describe themselves as wholesalers when they're talking about sales made one at a time to end consumers, aka retail. The usual list people are talking about when I hear this discussion is the Rapaport Diamond Report (www.rapaport.com ) but it’s not really very helpful as a shopper and it’s a little on the expensive side just to subscribe for funsies. There’s been quite a bit of discussion on this topic in the forum and a search for ‘Rapaport’ should provide an evenings worth of reading. Looking in the database here for actual offers for sale of actual diamonds that you’re calling comparable is a FAR better way of deciding if the prices you’re being offered are competitive.

 

[Haven]

Thanks very much for the quick response. I edited my email out. I will try and get that information as soon as he is back from vacation and post it here

Great!

Are you buying a round brilliant? If so, you may want to read this page about the HCA tool so you can use it as soon as you get the specs from the jeweler. https://www.pricescope.com/tools/hca
The HCA is a good weed-out tool, it will tell you if the stone is worth further consideration, or if you should pass.

Also, just so you know, you're likely to get a chorus of "Don't buy a stone that wasn't graded by GIA or AGS" responses, so if this stone was graded by any other lab, we're likely to suggest you pass, as well. Especially if it's an RB.

I hope you have that rare real in with a jeweler! Tyty is right, we see a lot of posts like this, and it almost always turns out that the "family friend" isn't offering much of a bargain at all. And, what's worse, the stones are usually not that great, either. I hope your situation is the opposite!