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Does geography affect pricing?


davethomas2350
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Hello. I just signed up for this and it seems to be a very valuable resource, so thanks in advance for any advice.

 

I live in the Philadelphia area, home to Jeweler's Row, but grew up in the Poconos, where everything is much cheaper in comparsion to the city. However, growing up there, I was also closer to NYC, which everyone tells me 'you can get such great deals in the city'.....then there's Delaware- home of 'tax free shopping'..... or how about online?

 

It's all crazy! Does it really matter? Is there that mythical place where the price breaks or wholesale prices really exist or is a jewelry store counter the best I can do?

 

I am looking for a stone or already mounted ring....

 

D-G

IF-SI1

Ideal-VGood

.65-1 ct

 

What should I expect to pay and what should my battle plan be?

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Hi Dave,

I would suggest you do some research into online sellers.

Buying online is not for everyone, but you could save some money over typical retail "walk in" pricing.

 

Since you've found this site, once you do your research, you can come back and ask more questions!

 

The range of prices between a .65 G/SI1 up to a D/IF 1.00 is huge. I'd say anywehre between $1500-$18,000

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Thanks for the response. So, are you saying you do better on line? What about seeing the diamond up close. I know seeing a 'sparkler' can make a big difference over just a few numbers....and when I look online, how should I search?

 

Financially, I can't really afford more than 5,000 for rock and setting...so, how should I proceed? I've been told a very good spakler that is only .65 looks and much better than a 'decent' 1ct....you agree?

 

DT

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Geography matters a whole lot less now than it did even a few years ago. Three things have changed:

 

#1 FedEx. $50 will take almost anything anywhere in the country, overnight. This is 1% of your budget. Often it's even less.

#2 Independent Labs. GIA and AGS have gone a long way towards standardizing the language used for describing diamonds.

#3 Internet. It’s far easier for dealers and their customers to communicate with one another about details than it used to be because of photographs, scans, database and the like.

 

The result is that the cost to the jeweler for any particular stone is about the same whether they describe themselves as a ‘wholesaler’ in NYC, a store in Connecticut, or an office with a website where you can’t even tell where they’re located. Almost any jeweler can get almost anything you want although some are better about understanding your requirements, some are better than others about actually delivering what they promise, and they don’t all charge the same amounts for their services. It’s not the location that makes the difference; it’s the character of the people behind the counter/keyboard (and the people behind them) that you should be watching for.

 

Neil

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I disagree Neil,

Many diamonds are NOT the same price anywhere today.

Sure, IF a diamond is on polygon ( a site for jewelers only) it might cost any dealer who buys from the polygon list the same price. Which in itself does NOT mean the consumer would pay the same price.

 

But what if a consumer could buy the diamond from a seller offering diamonds on polygon? If the buyer could find the larger companies that could save them money. There are larger and smaller companies selling online today.

 

Then there's the many diamonds which are NOT listed - and usually the BEST ones are not made available on a list.

 

 

I agree that calling one's self "wholesale" does not mean very much- but saying all dealers' prices are the same anywhere is simply not accurate.

 

Fancy Colored diamonds are another case where there can be a large differential between what a single retail store would pay, as compared to a dealer in NYC.

 

All of these situations could mean large differences in retail prices between dealers.

 

Dave, on the internet, check out Excell Diamonds site- they have acutal inventory, which means that they can eyeball the diamond and give you an accurate desciption- this is totally different from sites selling diamonds off a list- diamonds they've never seen.

In Philly, I've heard good things about Steven Singer.....

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David,

 

I’m sorry, I was unclear. I'm certainly not saying that it doesn't make a difference where a customer, or a jeweler for that matter, buys a diamond. The cost to the jeweler for a specific stone and from a specific seller will be approximately the same no matter where either the jeweler or the supplier is located. Sure, some jewelers are poor shoppers, bad credit risks, buy in big volume or whatever but it’s not the location of the store that will cause them to pay higher (or lower) prices when compared to the same stone being offered to a store elsewhere. The marketplace of selling to jewelers is wickedly competitive and dealers will travel around the world to add a few percent to their net margins. How much the dealers charge for the value they add and exactly what they do to earn their money will vary considerably from dealer to dealer.

 

It’s worth noting that all stones that claim to be the same aren’t necessarily so. Both the prices and quality can vary considerably from stone to stone, even when they have superficially similar specifications.

 

I agree that fancies are a whole different market although I’m not convinced the geography is a big component there either. It's a bigger topic because the language for describing a colored isn't nearly as well developed as it is for 'colorless' stones and this can add a fair amount of confusion for both buyers and sellers. Some dealers are way better at buying and selling fancies than others but I don’t think the address of the store is the biggest difference.

 

My point was, I think, the same as yours. A good dealer adds good value. They aren’t just moving grading reports from the inbox to the outbox and it isn’t their address that makes them worth doing business with.

 

Davethomas,

 

David is an online diamond dealer. He's also a gentleman so he won't promote his own store in the forum. If he has the kind of goods you want, he absolutely deserves your consideration. Check out the link to his site at the bottom of his posts.

 

Neil

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