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Have You Ever Heard Of Watchmydiamond.com?


bob3.14159
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Have you ever heard of watchmydiamond.com?  Their prices seem to good to be true, thus I suspect there a catch somewhere.  i.e. 12 CT natural diamonds, SI, G-H, white gold 14k eternity necklace for $8800 as found at  http://www.watchmydiamonds.com/diamonds-tennis-necklace-12-01ct-natural-diamonds-set-in-14k-white-gold-16.html

 

What do you think?  Is this store legitimate?  Does this price seem typical or quite low for such a necklace?

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I've never heard of them, which means almost nothing, but what about that seems out of line to you?  Like all things diamond, the secret is in the details.  0.02's cost anywhere from about $250/ct to as much as $600/ct depending on the reliability of that grading.  That means your diamonds are anywhere from $3,000 - $7,200.  That setting goes for anywhere from $600 to about $2000 depending on the details and there's a couple of hundred to maybe $1000 in labor depending on what they want to charge to put it together.  So is it a deal or a ripoff?  There's not enough info there to tell.  It might be either or it might be just right.  Are they legit?  Again, I've never heard of them.  Their terms look good enough.  They've got a decent web designer.  If they're actually an authorized dealer for all of those watch brands, that's a good sign.  A Rolex dealership isn't all that easy to get.  On the other hand, if they're a grey marketer without mentioning it, that's a BAD sign.   

Edited by denverappraiser
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Hi denverappraiser

 

Thanks for your feedback, I agree that they represent some very impressive watch lines.  I found the necklace price to be lower than what I typically see, but perhaps they are legitimate.  I will investigate further.  It's a bit scary spending that kind of money on-line for something you've never seen from someone you've never heard of!

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It looks like they have a store in NYC but sometimes these things are difficult to tell.  If it were me I would do a bit of surfing at the watch manufacturer websites that they claim to represent.  A lot of the brands have a system for locating their authorized dealers and I would use this as a way of seeing if they're really authorized or playing games.  Even if you don't want a watch, this goes to your question of what's legitimate and what's not. 

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1.  If you look with Google Streetview, then ... if they're in 62 W 47th, they're in the lobby of a building.  No actual street presence.  Strange!

 

2.  IWC watches?  OK... no Pilots on sale?  Fishy.  VERY fishy!  And the daVinci models they show are two discontinued ite,s.

 

3.  And the Portuguese they show, well, they have legitimate watches appearing in the ad but the price on their WG 7-day automatic is 50% more than street; about 25% below retail. (IW500106).  I know about this ... I own this watch.

 

4.  IWC has a very nice, very large boutique on Madison Avenue.  I don't think they'd be happy having some grey-marketer selling for thousands off their list.  (Even if you can get much better grey market prices elsewhere.)

 

4.  As far as the diamond necklace shown, if you start to count individual pieces on their illustration, you come up with roughly 80 visible, meaning ~120 all-told on the mannequin.  But why wouldn't they just tell you the stone count to begin with?

 

We have a diamond bracelet consisting of 29 stones at .41-.42 each.  That hovers right at about 12 carats, perhaps a little over.  The purchase/build price was $25K (in 2012 dollars).  However, unlike the bracelet in this ad, you can actually see the individual stones. 

 

 

 

This place is probably a good example of the riffraff you can find on 47th Street, and why it's not always such a good idea to waste your time walking by casually.  (Unless you work nearby and are killing a lunch break.)   Go back to using Google Streetview, and look at who has a dominant presence on the street.  Especially, closer to 5th Ave than 6th Ave.  You'll miss a lot of important names, because a lot of stores are just booths inside a warren, but you'll see some biggies.  (If a store is big enough to have their name actually on the street, that's good.  Provisionally.)  I'm happy to see from Streetview that Nally is in the window at 4 W 47th; they're old personal favorites.  The closer you get to 6th Ave, the more honkytonk, the more Times Squarish the vendors appear to be.  And probably the lower grade of diamond you'll wind up with.

 

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1.  If you look with Google Streetview, then ... if they're in 62 W 47th, they're in the lobby of a building.  No actual street presence.  Strange!

 

[snip]

 

a lot of stores are just booths inside a warren, but you'll see some biggies.  (If a store is big enough to have their name actually on the street, that's good.  Provisionally.) 

I'll take some exception to that (possibly because our office is on 47th but nowhere near the street). Most firms working in the diamond district do NOT have a street presence, not even as a stall in one of the halls. This includes some rather decent people to deal with, and some pretty big names too - though many of them don't deal retail.

 

The only thing that having your name on the street means unequivocally is that you have enormous financial pressure to pay the rent. :)

 

Other than that, Bob~Ï€, I can only repeat what's been said above. It's not an unreasonable price, but the devil is in the detail, and a lot of the detail is not on that web page.

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DL >> I'll take some exception to that (possibly because our office is on 47th but nowhere near the street). Most firms working in the diamond district do NOT have a street presence, not even as a stall in one of the halls. This includes some rather decent people to deal with, and some pretty big names too - though many of them don't deal retail.

 

 

Yeah, I actually contradicted myself in the response, too (about "warrens").  It had been a while since I used Streetview on 47th St., and this Google image was probably taken ~1 year ago.

 

It's possible I should have said -- "start a walking tour at Fifth, and if you get more than halfway down the block, you're very likely dropping off in merchant quality.  AND a lot of the better stuff is unseen, upstairs."  They don't make it too easy to find "the best" merchants for a particular desired transaction..

 

DL >> ... It's not an unreasonable price, but the devil is in the detail, and a lot of the detail is not on that web page.

 

We looked a very long time at "tennis bracelets" before deciding to have ours built with .41-.42 stones. That means we looked at a lot of enticing advertisements in Ebay and other places.  A favorite trick, as in this ad, is to make the stones appear much larger than they really are.  If they don't give you an actual photo of the piece you want, rather, an illustration, that's what you're going to wind up with: 10-point (at best) melee that gets sold by the bucketload.

 

 

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