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Are the prices quoted here wholesale or retail?


lkoloti
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Dear Sir/Madam

 

I would like to know whether the prices you quote on this site are wholesale or retail prices. If they are wholesale, what would be the recommended retail price a jeweller would charge ie. would they add 20%, 25% or 30% to the prices you quote? If you quote retail prices, what would be the wholesale price a wholesaler would charge, ie. 20%, 25%, 30% less than the retail price?

 

Sincerely,

Tebo

 

My email address is: litebohokoloti@hotmail.com

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They are actual prices of diamonds being offered by actual jewelers to actual consumers. Call them whatever you wish.

 

As to adjustments from retail to wholesale or vice-versa, your guess is as good as mine... it depends on the stone, the supplier/customer relationship, market conditions, the level of experience of the buyer & seller agents, and many other factors that change day to day.

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Retailers generally mark up their costs on diamonds anywhere from 5% to 50% depending on the nature of the store and what additional things are being added to sweeten the deal. Wholesalers do the same. Both retailers and wholesalers use the same sources. How can you tell the difference? If they will sell diamonds one at a time to a consumer, they're retailers.

 

This is a really common question because everyone wants to get the best possible deal and 'wholesale' is a good buzzword. In other products it's even a valid enough concept where each dealer pays approximately the same price for any particular SKU. Unfortunately, in diamonds it doesn't really apply. That's just not the way the market works. Pity. Wise shopping would be much easier if it worked this way.

 

I recommend buying from a self confessed retailer. Why? Because retailers who describe themselves as wholesalers already have a strike against them since you already know that they're liars. Wholesalers who are retailing on the sly are even worse becaue they are willing to undermine their own dealer network in order to get the extra money they can charge you. That's not just lying, it's stupid. Would you trust someone who would to this to give you a straight up deal? What remains is to be determined is what else they're lying about.

 

The asking prices, the quality of the stones, the accuracy of the grading, the added value from trade up programs, convenient display, good educational material and the like are all unrelated to how the dealer describes themselves.

 

Neil

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