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One2Three Jewelry

What discount is acceptable for jewelry?

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We are a small brand (One2ThreeJewelry) and sometimes we offer discounts for our customers.

I have heard the opinion that a discount of more than 15 percent is considered unacceptable for quality jewelry. What do you think?

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Acceptable to whom, and discount from what? I know stores that price things in a way that they can have 75% OFF sales fairly regularly.  They haven't sold anything at full price since they opened. Others won't discount a dime. Ever.  Personally, I prefer the later.  Just tell me what it costs. If I don't like the price, I won't buy it. Changing the price after that tells me that you were lying the first time. It was just a test to see if I was a sucker.  I am, but I don't like being called on it. 


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

 

There's never a crowd when you go that extra mile.

Professional Appraisals in Denver

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Another 'consumer' vote for transparency and low - if any - discounts. This said, there is also a question of what is customary in the market you serve. A good friend of mine deals a fair amount with Russian and Arab clients, and they 'expect' a minimum 20% bargaining space.


Davide - Specialised Consumer Information and Assistance,
Diamonds by Lauren (http://www.diamondsbylauren.com)
davide@diamondsbylauren.com

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We work for the American market, so it is the opinion of the Americans about the discounts that are interesting. One specialist told me that if the discount is more than 15 percent, then he always has a question about quality. It goes without saying that there are no discounts for unique jewelry.

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Sorry for digging up this slightly older post  but in retail there is a ton of psychology.  We don't inflate numbers in order to discount, but there are consumers who like to concept of getting a deal even if it isn't.  I had a customer a while back who did not purchase the stone from me, but found an equivalent stone (they could have been a matched pair) from a dealer who gave him a 40% discount on their asking price.  The discounted price was still 15% over our price but the customer felt the other retailer was more willing to "work with him" than I was.  Head scratcher?  Yes, but important to understand.

  • Like 1

Laurent George
Diamond Ideals
New York City

www.diamondideals.com
212-207-4845
laurent@diamondideals.com

 

 

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