Is this jeweler ripping us off?
November 11, 2010 5:45 PM Subscribe
Jeweler quoted us a price for a diamond; ones that seem equivalent are far, far cheaper online. Are we being ripped off?
Our jeweler brought in some diamonds for us to look at and my fiancé decided on a .42 carat stone. G, SI1, Excellent cut. Very Good polish, Excellent symmetry, no fluorescence. He quoted us $1380 for the stone. I checked out Blue Nile, which quotes prices from $634 to $789 for similar stones (.42 carat, G, SI1, VG to Ideal cut). Amazon prices are similar ($685-$735), as are a few other places I've checked online.
Are the online prices crazy low and the jeweler is charging a fair price, or is he really taking us for a ride? Which would be disappointing—we've really liked him so far—but better to know now rather than later.
Our jeweler brought in some diamonds for us to look at and my fiancé decided on a .42 carat stone. G, SI1, Excellent cut. Very Good polish, Excellent symmetry, no fluorescence. He quoted us $1380 for the stone. I checked out Blue Nile, which quotes prices from $634 to $789 for similar stones (.42 carat, G, SI1, VG to Ideal cut). Amazon prices are similar ($685-$735), as are a few other places I've checked online.
Are the online prices crazy low and the jeweler is charging a fair price, or is he really taking us for a ride? Which would be disappointing—we've really liked him so far—but better to know now rather than later.
Blue Nile has practically-wholesale prices, so it might not be a fair comparison. You might want to check with another brick-and-mortar jeweler for comparison first.
I'm not an expert, but I think for G and SI1 your jeweler's price sounds a bit ridiculous. For that price you could get a stone with the highest level of color and clarity rather than the mid-end level (which is what G and SI1 are).
posted by joan_holloway at 5:55 PM on November 11, 2010
I'm not an expert, but I think for G and SI1 your jeweler's price sounds a bit ridiculous. For that price you could get a stone with the highest level of color and clarity rather than the mid-end level (which is what G and SI1 are).
posted by joan_holloway at 5:55 PM on November 11, 2010
not an expert either, but your jeweler's price for that specific diamond sounds quite high as well. this is not to say that he's intentionally trying to rip you off. keep in mind that he is (or sounds like) an independent jeweler and therefore most likely not able to get the kind of volume sales (and this can pass on lower prices to buyers) that a larger company like blue nile can. if you want to buy from a local jeweler, get some more quotes from other jewelers in your area. if you feel you will get a comparable diamond for less from online, then buy the diamond online and have your jeweler set it into your ring locally.
posted by violetk at 6:00 PM on November 11, 2010
posted by violetk at 6:00 PM on November 11, 2010
Equivalent good. Higher price. No additional services. Yes, you are being ripped off.
posted by procrastination at 6:01 PM on November 11, 2010 [1 favorite]
posted by procrastination at 6:01 PM on November 11, 2010 [1 favorite]
You are being taken advantage of. Don't pay that much for a G stone when you can get a better one for the same price. You may like it at first, but your fiancée will end up being quite aware of the off color since she gets to look at it all day long, every day.
posted by halogen at 6:11 PM on November 11, 2010 [1 favorite]
posted by halogen at 6:11 PM on November 11, 2010 [1 favorite]
Response by poster: Did you negotiate, or was this his first price?
First price. I didn't get the impression that this was a shop to negotiate with. Thanks for the input, folks. Keep it coming.
posted by The Michael The at 6:22 PM on November 11, 2010
First price. I didn't get the impression that this was a shop to negotiate with. Thanks for the input, folks. Keep it coming.
posted by The Michael The at 6:22 PM on November 11, 2010
That's the way the market works. It is a ripoff, but it's an everyday ripoff. I did a LOT of local shopping when it was my turn, but nobody was competitive with online or NY dealer prices.
posted by NortonDC at 6:42 PM on November 11, 2010
posted by NortonDC at 6:42 PM on November 11, 2010
You can always give them a price and they can take it or leave it. You might still have to pay a premium for a retail store, but you're more sure about what you're getting before you buy. See if he will go down to someplace under $900.
posted by demiurge at 8:55 PM on November 11, 2010
posted by demiurge at 8:55 PM on November 11, 2010
procrastination: Equivalent good. Higher price. No additional services. Yes, you are being ripped off.
I suspect the additional service is that you and your fiancee get to actually see and handle the stone before buying it. Your fiancee, if she's so inclined, can get all misty-eyed about it being just what she wanted, which saves you some amount of risk.
Keep in mind that your local jeweler is spending more time and attention on you than anyone at Blue Nile will, and he must maintain a showroom, has access to a smaller market, and has taken on more risk than Blue Nile by simply having those stones on hand for you to look at. And he has to eat.
Buying such things locally from a service-oriented business is just more expensive. If you regard the stone as a commodity then you might not value the local service experience enough to pay the premium, but that doesn't make it a ripoff. Your jeweler doesn't have to be a bad guy to be wrong for you.
posted by jon1270 at 2:05 AM on November 12, 2010 [2 favorites]
I suspect the additional service is that you and your fiancee get to actually see and handle the stone before buying it. Your fiancee, if she's so inclined, can get all misty-eyed about it being just what she wanted, which saves you some amount of risk.
Keep in mind that your local jeweler is spending more time and attention on you than anyone at Blue Nile will, and he must maintain a showroom, has access to a smaller market, and has taken on more risk than Blue Nile by simply having those stones on hand for you to look at. And he has to eat.
Buying such things locally from a service-oriented business is just more expensive. If you regard the stone as a commodity then you might not value the local service experience enough to pay the premium, but that doesn't make it a ripoff. Your jeweler doesn't have to be a bad guy to be wrong for you.
posted by jon1270 at 2:05 AM on November 12, 2010 [2 favorites]
I agree that $1380 is a lot for a shiny rock. These things are worth whatever you will pay for them, period. You wouldn't be able to resell the $1380 diamond for $1380, but it's also unlikely that you could resell the $634 stone for $634. So what? Buying a diamond for its resale value is not exactly romantic. Diamonds are expensive because they're expensive. Their meaning depends on their being expensive. A diamond ring is seen as a symbol of commitment because it's expensive. The whole thing is a silly, sometimes ugly, racket, but it's the cultural idea you're buying into when you buy a diamond. If you don't buy into it, why not skip the diamond altogether?
posted by jon1270 at 5:55 AM on November 12, 2010 [3 favorites]
posted by jon1270 at 5:55 AM on November 12, 2010 [3 favorites]
Thats a big difference and your jeweler is charging too much. Go find another one ;)
And for some totally unsolicited advice... spring for the ideal cut. A diamond is a prism, and you're paying for the sparkle. Anything but an ideal cut round brilliant refracts the light wrong... and then what's the point?
Also... careful with buying sight unseen. They may both be SI1, but exactly where those inclusions are can make a huge difference.
posted by muscat at 10:05 AM on November 12, 2010 [1 favorite]
And for some totally unsolicited advice... spring for the ideal cut. A diamond is a prism, and you're paying for the sparkle. Anything but an ideal cut round brilliant refracts the light wrong... and then what's the point?
Also... careful with buying sight unseen. They may both be SI1, but exactly where those inclusions are can make a huge difference.
posted by muscat at 10:05 AM on November 12, 2010 [1 favorite]
Best answer: When I was in your position, I researched prices on Blue Nile. I found a few stones I liked for a price I liked and printed them up. I then took my printout to the jeweler I was working with and said I wanted something like this. She was able to get within 5% of the prices I wanted. This was great, and I was happy to pay a 5% surplus over what I found online to get a great local jeweler who got to know me, helped me go through several bands, and gives free cleaning and adjustments for life.
posted by ShootTheMoon at 10:42 AM on November 12, 2010 [2 favorites]
posted by ShootTheMoon at 10:42 AM on November 12, 2010 [2 favorites]
dont know anything about prices, but THE place to look is pricescope
posted by knockoutking at 7:21 PM on November 12, 2010
posted by knockoutking at 7:21 PM on November 12, 2010
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posted by ThePinkSuperhero at 5:50 PM on November 11, 2010