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Overnight Mountings My Local Jeweler/retail Markups/being An Ethical Buyer


bonnebelle
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There is a company called Overnight Mountings that has a setting that I like. I found it while shopping at my local jewelers. Having decided that a custom ring was out of the question I thought this would be the next step. The jeweler says that since it's an old catalog that the price of $2300 is probably not accurate given the current price of gold, which is understandable it's just given my budget I can't afford that. I would be looking at spending about half as much.

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The "problem" is that I happen to belong to a club that allows me to buy directly from retailers, they of course do not have Overnight Mountings, or this type of setting, and it has given me a glimpse at the high mark up (one of the semi-mounts I liked retailed over $2,000 and I can get it for less than $1000 direct from the vendor plus a 10% fee) which I feel is considerable.

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Given that, my hope is that the wholesale on the setting I like from Overnight Mountings is probably more in my price range, which leaves me with 2 options 1) negotiate with the jeweler about the price, if so, how do I do that without offending the jeweler (realizing that the jeweler does deserve to make some money on the mounting) or 2) try to find a way to get the mounting from Overnight Mountings myself in hopes of getting it for less than what my jeweler will charge.

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I would be open to someone pointing me in the direction of finding a similar setting but I don't have a picture of it. I do have the #, which is 83574 if someone has access to Overnight Mountings catalog (I TRIED to find it online but it's very hard to navigate). The style is similar to the attached style but in white gold and as if the whole piece has been rotated 45 degree so that the square is a diamond shape.

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Background on my dealings with the jeweler so far is that I have traded in gold for store credit (which has amounted to about $600) which I can use for services or product. I really can't afford to spend another 500-700 more.The jewelers have been nice to work with so far and I am fine buying from them and obviously paying for their services but not to the tune of a 100% mark up on the setting.

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post-115332-1210717567_thumb.jpg

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Overnight is a big company and it’s very unlikely they will sell directly to you. That would be stupid on their part because it puts them in the position of having a price war on their own products with their own customers. At the same time, they have lots of dealers out there and you may be able to find another one who will offer you what you want for a lower price. I think your ‘wholesale’ club is leading you a bit astray. Sure, there are lines where the published markup is high and they can give a steep discount but it’s a mistake to assume that this is true of everything within a particular category. If they don’t have what you want, how much of a discount they can get you on something completely different is, well, completely irrelevant.

 

Jewelers are generally a thick skinned bunch. Choose one that you trust, who communicates well with you and who you think will do good work for you in terms of the assembly, then tell them what you want and why you think you can get it for less elsewhere. They may not agree with you but it doesn’t hurt to ask for a discount and it doesn’t hurt to shop them against their competitors. I’m not much of a supporter of going with the rock bottom cheapest provider because there are so many other variables, like quality of work, that come into play and can get lost in the shuffle but they live in a competitive world and they would usually far prefer to negotiate with you than to have you just disappear and take your business elsewhere without even giving them a chance. In your case they sort of have you over a barrel because you're buying with a store credit and, I presume, you have no way to convert that credit to cash that you can spend elsewhere.

 

Neil

Edited by denverappraiser
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Great advice Denver Appraiser. Yes, I do have some parameters that I am working with due to the credit, but I guess it never hurts to have credit with a nice jeweler, right? My buying club is a good one and the manufacturers they work with are top notch as well. But you're right, the discount does me no good if it's not the setting I want. I do have some nice sapphires that I could have the jeweler mount as earrings instead and my husband could use a new watch so it's definitely not a total loss.

 

Still I am open to buying a semi-mount elsewhere and bring it in to the jeweler and use my credit for the labor of placing the diamond. I will talk to them about it as far as saying I would rather stay there for the setting and labor, but that cost is one of the main factors in the decision and just go from there.

 

I am still open to anyone's advice on who else may carry something like this on line. The stone I am trying to fit is approx 5x5 princess cut. I love the angled square and the surround where there is space, making it a little more "vintage" & airy in look. I've added another picture that shows the type of style I'd like. If anyone is familiar with an online store that might carry this type.

post-115332-1210727459.jpg

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The price of $2300 is very reasonable on that mounting. It has .73 cts. of diamonds in SI G-H color. That price would be putting the ring together and only charge you for materials but no labor on the ring. You might be able to get it for less if you lower the quality of the diamonds but I wouldn't recommend that.

 

It does look like a very pretty mounting.

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