5 replies to this topic

[TedT]

Hello All,

I'm very new at this so please excuse me if I dont have the correct terminology about this industry! I am starting to look around for an engagement ring and needed some help! I started reading a lot of the forums on this site and see that a lot of the discussions are about purchasing their diamonds online and just a personal preference, I'm not interested in buying anyting online.

I recently went into a retail jewerly shop and the nice sales person showed me different types of rings from all price ranges from diamonds they get to brand names. One of the rings they showed me was the Hearts on Fire diamonds. I understand that they probably get a good rip off the sale (or do they?) if they sell the HOF since they are one of the only retailers in the city that sell the brand. She was very open enough to tell me that for the price, I could probably get a diamond almost as good as HOF for much cheaper but she thinks the HOF diamond is the best diamond out there.

I understand that it's all a preference and with the HOF, I would be paying for the brand but is it worth it? When she put a HOF diamond next to any other diamond, it really did look much better than anything she compared it to but was I just getting sold?

I also have a friend's dad that is a diamond broker and I'm planning on seeing him soon to see what he has because my friend always tells me that it's going to be much, much cheaper than brand names but I'm afraid that it will be like the ones I saw at the retail shops next to the HOF diamonds that weren't as good.

I guess I really want people's straightforward opinion what I should do, anything they know about the HOF brand, any other brands I should be looking at and any advice!! Please help!! I didnt think think it would be so tough but I guess when you're spending $10k+ on a diamond, it shouldn't be easy! Thank you so much in advance!!

-TED

[denverappraiser]

Ted,

I'm not sure I understand your question. You've already determined that HoF makes good stuff, that lots of others also make good stuff and that they are charging a premium for their name and distribution system. There's nothing wrong with that but whether or not it's worth it depends on what YOU value about the brand and the distribution (ie the dealer).

If you're dead set on buying from a local store, the first step is to go visit those stores and see what they have to sell. Most towns don't have all that many and it shouldn't be that hard to pick the ones you're considering and just show up. Importantly in that research, get a feel for which ones seem to work best wtih you and then use them as an ally in finding the right stone for you. That's one of the benefits of shopping local after all but you don't get it if you don't ask. Pretty much any jeweler can get whatever you want even if they don't have it in stock today. Your first shopping trip is more about finding a jeweler than about finding a diamond. It's not entirely clear to me if you were happy with your trip to the HoF dealer but it seems to have gone well enough. Did you ask them to show you similar stones to the HoF that they were, presumably, willing to sell you for less?

Edited by denverappraiser, 03 January 2012 - 09:47 AM.

[TedT]

Hi Neil,

Thank you so much for your insight. Again, I'm sorry if I didnt make sense, I'm learning as I go and trying to gather as much info as I can. I was actually very happy with the jeweler that showed me the stones and yes, she did show me a comparable stone that was much less in price. I'm just confused and overloaded with all the options on what diamonds etc. I'm not dead set on anything, I just came across the HOF brand and was just trying to get opinions from professionals on what they thought of the brand.

It's just very confusing to me because i have no idea how it all works and if I went through a jeweler, I dont know where they get their diamonds, if the diamond is really good, etc. Again, I'm very new and not sure what I'm looking for. I've also been to Tiffany's and checked them out also and more confused than ever. I guess a question I have is, can i get a diamond that's just as good or better than HOF or Tiffany's and would it be much cheaper? Thanks for all your help, I really appreciate it!

TED

[denverappraiser]

I LIKE it when people shop at local jewelers but the variation between them is substantial. I simply can't answer whether your chosen guys are good or not. As a rule, beating HoF and Tiffany on price is no great trick and beating them on service and/or selection comes back down to the merits of your jeweler, not their rocks. Even if you have no intention of actually buying something online it's helpful to include them in your shopping process. It helps establish a benchmark for the prices and it's a fast and easy way to see how the various attributes related to each other and the price. Play a bit with the 'diamond finder' utility at the top of the page and see what you learn. You're annonymous so you won't even get a sales call.

For most people, where the jeweler gets their diamonds is irrelevant and usually they won't tell you even if they know. That applies to both Tif's and HoF as well so I'm not sure I would include this in your shopping criteria. Diamonds are a blind item for nearly everyone and you MUST rely on the jeweler, the lab and the appraiser. All 3 of those are completely unregulated businesses so a good first step is to pick your advisors carefully, and the first of those is the jeweler. Your first sentence of your very first post excludes everyone who doesn't have a local showroom. Depending on where you are and how far you're willing to drive, that may be as few as 1 or 2 stores and possibly as many as a hundred. The jeweler is going to pick the lab although you get some input. My advice is GIA and AGSL only. In fact, if they try and talk you into something else, don't just hold it against the lab, hold it against the jeweler.

In answer to your question, HoF is a fine company, they make fine goods and mostly they seem to distribute through quality dealers. They are not the only company that makes good things and they don't claim that they are. Beating their prices isn't usually difficult but you lose the bragging rights of a genuine HoF. What that's 'worth' comes back down to you.

Edited by denverappraiser, 03 January 2012 - 10:58 AM.

[davidelevi]

Usually I'm the long-winded one, so I'll try to be short for a change.

Are HoF (and Tiffany's) diamonds well cut? Yes, and what is more they are quite consistently well cut.

Can you find diamonds that are as well cut as HoF or Tiffany's for far less money? Yes, you can. Quite easily.

Can you find them locally? That depends on what you define as "locally" and what your local jeweller is prepared to do for you, particularly if they are a HoF dealer.

[TedT]

Neil and Davide,

Thank you so much for both your input on my questions. You guys really helped me out tremendously and I will start by going around some jewelers and seeing what they can do and looking around, comparing everything. Thanks again!