Wholesale?

[nrvna76]

I am a newbie to the whole diamond thing, but I have begun doing my research. My friend works for a company that can get diamonds from a wholesale distributor. Would it be worth it to go through him, or are the internet sites pretty much the same thing? I know mall stores are highly overpriced for diamonds but their setting prices dont arent that much higher than the internet, if I bought the diamond from the wholesaler would it be dumb to bring it to the mall store and get a setting?

Thanks for any help...

 

[oldminer]

You'll find prices listed in the Pricescope search will be highly competitive and possibly even better than your other source. You should find what you like, then compare the pricing and types. This is the right way to shop for the best pricing.

Try to find an independent jewelry store to help you with the mounting process. They have better service , in general, than mall, chain operations. DOn't totally rule out buying diamonds in retail stores either. They deserve to be part of your shopping process. SOme are willing to compete for your business, although some may not wish to work on a close profit margin. Its their choice and your choice, too.

 

[nrvna76]

well I actually did go to a local mall store recently this week, they had the setting I wanted for about $900 which is comparable to onine pricing and they had a .7 H/I SI1 for $2,395. He said that they specialize in 'precision' cut diamonds which he said means they guarantee all the facets are perfectly cut...not really sure what this means or if it is a good price. It seems to be a competitive price compared to the online stores, and they also give a lifetime guarentee if a stone gets lost they will replace it for free.

although I am not really sure how they can do that...what if somebody just bought the ring, took out the stone and then went back and said they lost it...??

thanks for your reply....

 

[denverappraiser]

nrvna76,

Wholesale is a terribly misused word. If they are selling stones one at a time to the end consumer, this is called retail. There are excellent deals to be had in the storefronts, online and in the second-story 'wholesale' markets. There are also vendors in each of those venues that you should avoid. Pay attention to what you are being offered and don't worry much about the words the dealers choose to describe themselves.

It's fairly easy for the merchant to include an insurance component along with their products. This is basically what any warranty is and this is not limited to jewelry. Insurance, like most other things, is a pretty competitive business. Read the terms of the guarantee and decide if it's valuable to you. Jewelers usually have requirements that you come back to the store every 6 months or so to have the piece examined and that you have the ongoing maintenance done at that store and at their current prices. This may or may not interest you. You can buy an independent policy for 1-2% per year from a a variety of insurance companies that will cover all of this and more with fewer sticky provisions. It's part of the shopping process to decide what is valuable to you and to choose a seller that meets your requirements. Personally, I kind of like dealers that offer such guarantees because it indicates a certain faith in their quality but I wouldn't be willing to pay very much extra for such a statement. It boils down to understanding what you are getting and what you are paying for it. The terms of the guarantee are important. Such deals are frequently available from all flavors of dealers, not just the mall.

you said: "...what if somebody just bought the ring, took out the stone and then went back and said they lost it...??"

What you're describing is criminal fraud and the jeweler or their insurance company would be entirely correct to prosecute such offenses if they can prove it. This kind of thing is hard on your karma as well.

Neil Beaty, GG ISA
www.gemlab.us

 

[Richard Sherwood]

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This kind of thing is hard on your karma as well.
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Heh heh heh... Nobody gets away with nothin, right Neil?

 

[denverappraiser]

Rich,

Much of the discussion here is about encouraging merchants to treat their customers fairly because it's the right thing to do. Obviously I agree with this or I wouldn't be here. For the system to work the reverse should also true but it gets far less discussion because the merchants, especially insurance companies, are much less likely to complain in a public forum when they are treated badly. Mind you, I'm not suggesting that nrvna76 has done anything wrong here, I just thought that the question disserved a direct answer.

Neil Beaty, GG ISA
Independent Appraisals in Denver
www.gemlab.us

 

[nrvna76]

Thanks for the replies,
....that comment wasn't to suggest that I would do anything like that, just asking how they could give such a guarentee where if you lost an expensive diamond that they could replace it for free....
and..the question about wholesale may have been a little vague when I asked it before...the company that my friend can get a diamond through is stuller settings who doesn't sell to anybody unless they have a valid account with them, so I don't think that they do sell to the public. My friend just works for a company that gets diamonds from them so they provide a catolog for the employee's as well and he said he could just order it for me, but the catalog is apparently hard to get and its taking a long time for him to reserve it. Basically I just wanted to make sure it would be worth waiting for to look at because I have no idea what the prices are in the catalog.

I think I am going to get the setting on whiteflash, found one that I really like, I'm just weary of buying an actual diamond on the net.

Again, thank you for your replies

-Patrick