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need to check validity of price quote


laschroeder
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I want to purchase a marquise diamond and have found a jeweler that has given me a price on one and need to know if it is reasonable.

 

Marquise

1.11 caret

I1 clarity

H color

Price quoted (w/o sales tax or replacement plan) $3,454

 

Also, what is the typical markup s jeweler makes on diamonds?

 

How much room is available for negotiating the price of a diamond with a jeweler?

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Are you sure you want to purchase an I1 clarity diamond? There will be visible scratches and defects at this clarity level.

 

Typical markups... allover the map. The online jewelers make a tiny markup (single digit percent usually). The Tiffany's of the world operate at 2X-3X profit, sometimes more, depending on the prestige of the brand.

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Diamonds aren't priced like cars. There's no "$100 over blue book," or anything remotely like a "standard" markup. Generally, the more reputable the jeweler, the lower the markup. In my experience, the more willing a jeweler is to dicker, the more they've inflated the price to begin with! :(

 

Princess Tess

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Generally, the more reputable the jeweler, the lower the markup.

 

Tess, I think your statement is a little overgeneralized. Continuing the Tiffany example, they have both an excellent reputation and a very high markup!

 

But I do agree that the generalization "the more a jeweler is willing to dicker, the more inflated the price to begin with" is a useful one.

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Ben I get your point. I guess I was defining "reputable" as someone who didn't over inflate their prices! :lol:

 

Bad word choice. I agree Tiffany's would be considered "reputable" in all reguards.

That doesn't mean I'm willing to pay their prices. :)

 

So what word would define a jeweler I'd consider worthwhile.......price-wise as well as quality and knowledge....hmmmm....decent?

 

What word would you use? :(

 

Princess Tess

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Fair profit margin is what we shot for..

 

If you are too high, you may not be providing comperable value, but too low and you will almost certainly not be able to provide the service many people desire.. So, we need to charge a "fair" profit to provide the service and still feed our families :(

 

Steve -

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