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Hi, New Here.. Talk Down A Price?


larrylarry
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HI there. I am new on here. I have been looking at a G/vs2 1.5ct Princess with a very good cut. I was quoted 10,200 buy a dealer at the Jewlery Exchange vender S NJ. I have 2 questions.

 

1> Could you tell the difference between a VS1 or VS2 or should I go with the VS2 to save a little money.

 

2> What is a resonable offer I should neg with the dealer. I never like to pay asking price.

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HI Larrylarry,

A few important facts to keep in mind.

First of all, who graded the diamond?

If there is no GIA report, the grade is suspect- as is the entire deal, in my mind.

 

Second of all- if you'd like someone to reduce a price substantially, they'd need to be ripping off those who are willing to pay the asking price......

You will find sellers willing to behave in this manner- but is that really where you want to spend $10k?

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Do a quickie search at the top of the page titled ‘find online jeweler’ for the following.

 

1.50-1.52ct./G/VS1/Princess.

 

I get about 200 offers ranging in price from $6253 - $11660 from the same group of about a dozen or so highly competitive dealers. All of them with independent lab reports from either GIA, AGSL, EGL International or EGL USA.

 

Next, read through the forum of the various questions and answers, talk to your dealer friends and see if you can come back and tell me why there’s such a big range of prices on superficially identical stones. I have a theory but it’ll be a better learning exercise if you figure it out yourself. Sort of Socratic learning only it’s free.

 

Neil

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That’s a different lesson. In practice, quite a few of those 200 offers will be different offers for the same stone but the price difference between different companies offering the same stone is extremely small when compared to the overall span of the dataset.

 

I think with most of the dealers here, if you took them up on one of those 200 offers, it’s pretty likely you really would get the subject stone. Surely you agree with this. Whether they own it or are acting as a sales agent for someone else isn’t the reason why there’s a factor of 2 range.

 

Neil

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Of course Neil, I agree.

The companies you refer to are reputable- if the diamond is in stock, the consumer is certainly going to get the right diamond.

My contention is that sometimes when people sell off the list, the sale is made before verifying the availability of the diamond.

That's just the nature of selling off a computerized list. Sometimes a diamond that is no longer available appears on the list.

 

It's happened to me, and we have all the diamonds right here.

When it has happened, I've been able to substitute a comparable stone.

 

I believe, that if someone does buy one of the lower-priced offerings from a list, and it turns out the diamond is not available, no reasonable substitution may be made.

Edited by diamondsbylauren
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By adding a 3rd (or even 4th or 5th) party to the mix, the number of potential errors definitely goes up and I agree that ‘buying’ a stone that’s already been sold to someone else is a frustrating experience that is all too common but I’m not sure the stocking dealers are really all that much better on this issue. The speed that the web advertising gets updated to reflect current availability is, to some extent, a function of the number of people involved but it’s also a function of people’s diligence about these things. This is one of the biggest annoyances that people have with the relatively small dealers, most of whom are selling from inventory. As you well know, it’s quite a bit of work to keep one of these websites continuously updated and most smaller shops don’t have someone dedicated to this task. The database here is the result of someone from each company submitting updates and if they aren’t continually on top of the job then the data becomes stale very quickly. In the case of dropshippers, they get the data from their supplier(s) or from an outside data service (who get it from the suppliers). The chains can get surprisingly long with an error potential at every step but, at the end of it is always a human who makes an entry that indicates a stone is or is not available, what the various specs are etc. This is, by far, the biggest source of errors. They may be slow to update things, they may check the wrong box when creating the record in the first place, they may simply have a typo. After the data passes through a few hands it’s wickedly difficult to tell what errors may have crept in until SOMEONE actually looks at the stone.

 

While we’re on this topic, there are some interesting limitations that are imposed by the websites like this one that actually make it more difficult on shoppers. There is no column for cut grade. There is no differentiation between EGL-USA and EGL-International. There is no differentiation between a stone that is in-stock and ready to ship and one that is held by an outside seller. ‘Lab’ is not one of the search criteria while depth and table are. ‘Culet’ makes the list of attributes while a scan of the lab report or a photograph does not. Some of these are imposed by the database here while some are imposed by the folks who are collecting and distributing the data. Some is because of the preferences of the big dealers themselves but the result is a leading of the way that people search for their perfect diamond and, conversely, a leading of the way dealers are trying to sell it to them. The dropshippers are driving this bus. It’s a complicated question and it would involve a complicated solution but the current structure heavily favors the dropshipping business model.

 

By the way, larrylarry, we seem to have strayed away from your original questions although I think they’ve been answered. Are you still out there?

 

Neil

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