I bought my stone from them!! Is Jonathan helping you out?
They are a new business. Been operating for about 9 months. Located in SC. My guess is no store front, nor in-house inventory to keep startup costs low.
Parcel & Stone
2 Office Park Ct STE 103
Columbia, SC 29223-5948
(800) 212-1192
BBB File Opened: 05/10/2018
Business Started: 10/05/2017
Business Started Locally: 10/05/2017
Business Incorporated: 10/05/2017 in SC
Type of Entity: Limited Liability Company (LLC)
Business Management: Mrs. Christina Dwyer, Marketing Manager
Link to specific diamond:
https://www.parcelandstone.com/diamond/Round/1.40-carat-D-color-VS1-clarity-stockNo-100727698506/
Here are my concerns:
Have you considered going back to Yadav and telling them you found the stone elsewhere that is offering a longer return period, better upgrade policy and will HOLD the stone for you while you decide? Yadav might counter back a special offer to you (either price reduction, or possibly agree to the same terms). If they modify their terms, you need to get it in WRITING.
- The 60-day return policy indicates special orders may require a re-stocking fee. Typically items not stocked in-house are "special orders". They need to clarify if your stone is a "special order" and if so, what are the re-stocking fees associated with returning it should you not like it (for any reason).
- The upgrade policy does say 110% after a 1 year waiting period as already noted. It never clarifies the criteria to be qualified as an "upgrade". I'm assuming they VERBALLY told you that $1+ above initial price qualified you for the upgrade policy. Did they mention the 1 year waiting period? Are they willing to put all of it in writing for you?
- Like life in general, no business can predict their life expectancy; however, statistically speaking the highest percentage of failures are small business startups. That said, how much value is being put into the upgrade policy of this purchase? It's a reasonable assumption they either won't be around, or won't have ample stock to service your future needs.
- What happens if they go bye-bye? Do they have any sister companies that will honor their upgrade policy? Is this also in writing? If so, you need to contact the other company and validate the information.
- There is about ZERO chance I do a wire transfer with someone I don't know, nor people in the diamond community don't know and that are startups with no office front. Yadav price was $10,742 using a credit card or $10,581 using wire. I'd make Parcel & Stone match the credit card price so you can have protection against fraud.
- What advantage do they offer? So far, they MIGHT have a better return and upgrade policy, pending their answers to the above questions I posed. Their price is higher, and to price match they want you to wire money which is more risky on your part. Oh yeah, they won't get you images either (although I'm not sure Yadav will produce either, but at this point they are proceeding on like they can). Can Parcel & Stone reserve the stone? To me, that is the only advantage left they could offer and you haven't clarified that yet. But then again, why reserve it other than to get your financial affairs in order as they can't produce images anyhow.
did you get yours from parcel and stone?? I had a random online person help me via chat
Wow lots of good points. I haven’t thought about most of these concerns. But you’re right, what good is a great upgrade policy if the company disappears.
Regarding the wire issue, I’m almost definitely wiring the money to get the discounted price but it is worrying that there isn’t a protection for fraud.
Maybe I should steer clear from a company I’ve never heard of just to save a couple of bucks.
So back to the original dealer, would you guys consider Yadav Jewelers safe to purchase from? I see that most diamonds from rarecarat.com are from Yadav or Fourmine
Yadav used to be diamondsonweb - they've been around for a long time. I know a couple of people who bought from them in their prior incarnation... haven't heard much in recent years. Buy with credit card if even a little hesitant - it isn't even $200 extra and any card reward programmes eat further into that differential.
I probably wouldn't go with P&S because of the upgrade policy, but I assure you they are not a fraudulent company if that matters to you!
Definitely not suggesting P&S as fraudulent, nor Yadav for that matter. But as @yssie pointed out, the worse case is you spend $200 extra for a bunch of additional protection.
This is literally less than 2% of the purchase price that protects 98% of the dollars. It's silly to take the risk for such small reward. Also as noted, you can get free miles or some other reward using your credit card that exceeds the $200 cost.
Oddly enough when my grandfather passed I paid for the funeral using a card. I had the cash but I figured he would want me to get something out of the bad situation. I'm still sitting on those points/rewards by the way. I might use them for part of the honeymoon trip. It seems like something he would have done if he was still here.
I'm also really big on Credit Card points I always make big purchases on AMEX and although their policies are not what they used to be, they still go to bat for you if anything does go wrong.
What is the draw with P&S? Did you even go back to Yadav and try to counter negotiate some of the terms? At least with Yadav, they are going to provide you images. Not to mention, they seem like the less risky company to work with and buy from IMO.
If the money is burning a hole in your pocket, you could always buy from Yadav, or maybe put a small deposit on the stone to hold it while they produce the ASET and IS images. Assuming those images come back good, you finish the transaction. If not, you try to find another stone through them.
A final thought. In regards to credit cards, I am sorry about your bad experience. I don't know the details, nor are they any of my business. In today's world, I would encourage you to CAREFULLY utilize at least one credit card to build your electronic credit rating footprint. These are called revolving accounts in the credit world, and your ability to maintain low or zero dollar balances, usually less than 25% utilization, with large credit limits will help boost your credit score and appear more credit worthy when you go to buy a home, car, etc.
I know this isn't a finance or credit card forum, just trying to help you a little.
Oh I’m sorry I should’ve specified. I meant that I was going with Yadav instead haha and as for credit score, I’m very much in the high 700s and already own a home! I just don’t like the idea of using borrowed money but I guess in this scenario I would pay it off right away after the diamond purchase.
I’m a novice when it comes to credit cards. Is there a big reward or points program that I can take advantage of for a purchase this big??
Thanks again @sledge. I appreciate all your advice so far
Oh I’m sorry I should’ve specified. I meant that I was going with Yadav instead haha and as for credit score, I’m very much in the high 700s and already own a home! I just don’t like the idea of using borrowed money but I guess in this scenario I would pay it off right away after the diamond purchase.
I’m a novice when it comes to credit cards. Is there a big reward or points program that I can take advantage of for a purchase this big??
Thanks again @sledge. I appreciate all your advice so far
Sounds like you are doing well on the credit front.
It's really personal preference. I have a couple of cards but keep zero balances. I like to use them for online shopping or when on vacation or basically any place that I'm not familiar with and know. I'm weird this way with paying bills also. I love bill pay services, but only when I can control them from one of my USAA accounts. I never ever sign up for the auto-pay with each vendor. I like the convenience but like to maintain control over when money leaves, etc.
As far as good reward programs, there are a bunch. I have an AmEx that has nice cash rewards. I have a MasterCard through Southwest and rack up quite a few airline points in the process. Also I have a VISA that is tied into my Hilton rewards membership that helps me earn 2x and 3x points (sometimes more, depends on the promos). That one has paid dividends for me. But in one year I was traveling so much that I managed to go from entry level to their highest level, diamond status, in about 6 months, lol.
Steve are you Australia based? Amex Velocity platinum is what I use. 60k bonus points available under referral scheme sign up (extra 10k over the standard bonus). Let me know if you want a referral link. You get a free domestic return flight included too, among other benefits.
Okay the diamond is ordered! I went and used my debit card instead of wire JUST in case I run into any problems. I found a promo code online for $100 off so it was basically the same as the wire price.
Will keep everyone updated! Special thanks to everyone for helping me with this decision
Wow, after all the indecision you whipped that card out and pulled the trigger without hesitation. Kudos. Can't wait to see the stone. Pics, pics, pics! LOL
On a serious note, you may check with your bank to see what kind of protection they offer by allowing you to use your debit card. There is some protection there I do know. Hopefully you will not need it, but good info to know just in case. .
FYI, I'd stay on Yadav about getting you the ASET and IS images. Once you have them, post so we can review. Hopefully it all works out, but if not, easier to catch BEFORE they mount & ship to you.
Lasly, I'd recommend picking up your own ASET and IS scopes. Possibly a H&A viewer too if you wish. But the first two help determine performance. I recommend this to verify the stone when it arrives, but also because I have a feeling they may give you fluff on those images. Hopefully not though.
WOOOO HOOO CONGRATS! Can't wait to hear about the stone!
I am another with credit cards for hotel and airline points. We've never had a balance. We charge everything on the cards (other than bills that are drafted from our account) and pay each card in full so never pay interest. You have a full list of all your expenditures for the month plus the protection a CC gives you should there be a conflict with a vendor.
Good luck with your diamond! I hope they get your ASET to you quickly and will give you a quick refund should the diamond not be great.
ASET**