Can you negotiate a price?

[vetenks]

Can you every bend a vendors arm? Or are their prices absolutely fixed? Unfortunately I am not made of money (quite far from it in fact) so I am already pushing the boat quite a lot by spending 6-months salary on an engagement ring and I need ever bit of saving I can get, as I still can’t reach the specifications I want with the budget I got.

Thanks!

 

[Gleam]

First of all, I would *not* spend SIX months salary on an engagement ring. I think you should seriously, seriously reconsider that.

But yes, I think you can negotiate with almost any vendor. Even Tiffany was willing to negotiate with me. The higher-end stores, like Tiffany, won''t negotiate unless you''re willing to drop in the mid five figures or more. They will not bend their prices for a $5,000 or $10,000 engagement ring.

I don''t think you should necessarily "bend a vendor''s arm," because every business has a right to profit. But this is a competitive marketplace, and I would expect a jeweler to offer me a competitive price.

 

[IceExplorer]

Date: 1/9/2010 8:46:52 AM
Author:vetenks

Can you every bend a vendors arm? Or are their prices absolutely fixed? Unfortunately I am not made of money (quite far from it in fact) so I am already pushing the boat quite a lot by spending 6-months salary on an engagement ring and I need ever bit of saving I can get, as I still can’t reach the specifications I want with the budget I got.

Thanks!

I agree with Gleam - 6 months is a very hefty figure. Maybe get something smaller and focus the vendor with THE BEST upgrade/trade-in policy. It sounds like you are going into this already looking for something bigger than you can afford at this time. Seriously consider upgrade/trade-in policy wherever you buy.
That being said, should you choose to continue down that path, I have 1 piece of information that you should consider embracing regarding your diamond purchase:

Knowledge = savings!

Purchase your stone from out of state - you save the sales tax (sometimes = to 9% in Canada it''s more like 13%)
-That is tremendous value to add to your purchase
Pricescope vendors have (in my experience) MUCH better pricing than you can find at a Brick & Mortar Jeweller or in a mall
-Exercise your Pricescope discount - 1.5- 3%
-Exercise wire transfer discount - upto 2%
-Learn where the price point breaks are for:
*Size
*Color
*Clarity
For virtually the same diamond you can save BIG money by going 0.01 carat smaller. (0.99 carat is much cheaper than 1.0 carat)
You can get an SI1 with the inclusion hidden by a prong instead of paying more money for a VS1 or VS2

I''m not an expert by any means. If anyone wants to add or contest any of the above please do.



Don''t be scared to ask for help here. The people are great and VERY VERY knowledgeable.

 

[ksbling]

I would highly recommend looking at one of the vendors here (I got my e-ring from goodoldgold and they have a upgrade policy). With the economy the way it is put that much in to a ring (6 months salary) is risky. but than it is your call. for me I started with a smaller rock because the size was less important than the the other c's for me. someday I can get her something bigger once I make more money.

 

[waterlilly]

Date: 1/9/2010 11:02:11 AM
Author: Gleam
First of all, I would *not* spend SIX months salary on an engagement ring. I think you should seriously, seriously reconsider that.


But yes, I think you can negotiate with almost any vendor. Even Tiffany was willing to negotiate with me. The higher-end stores, like Tiffany, won''t negotiate unless you''re willing to drop in the mid five figures or more. They will not bend their prices for a $5,000 or $10,000 engagement ring.


I don''t think you should necessarily ''bend a vendor''s arm,'' because every business has a right to profit. But this is a competitive marketplace, and I would expect a jeweler to offer me a competitive price.

Sorry, slight threadjack - wow, Gleam - you were able to negotiate w/Tiff?

I have a very close friend who is a sales associate for them in Boston and she told me they never, ever, ever give discounts. She recently had a client spending +400k that was very persistent at trying to get a discount and she was not allowed to budge on price, not even a penny off! How did you manage that!? I want your technique!!

 

[Bella_mezzo]

GO GLEAM! That''s fantastic! negotiating with Tiffany

I second others on this thread. If you can''t afford 6 months salary comfortably, I would spend less and get the biggest and most beautiful stone you can at a vendor with a great upgrade policy.

Take advantage of the discounts and thoroughly research the upgrade policys.

You can definitely try to negotiate, but do it with finesse.

 

[swingirl]

If you want some help selecting a stone there are a lot of helpers on PS. Give us your budget and some specs. Don't feel pressured to spend what you "think" you are supposed to spend. Set your budget at something you are comfortable with. Go with a vendor that offers an upgrade policy so you can go bigger (if you want) in a few years for an anniversary or birthday.

You might be surprised to find that you can get a beautiful ering in just about every price range.

As far as negotiating prices--most of the PS vendors work with a low margin of profit and offer fair prices to start off with. You can always ask for the best price but I wouldn't expect a big discount for just being a guy with a tight budget.

 

[Gypsy]

We really can help you find something amazing with just about any budget, please don''t spend 6 months salary on a ring-- that''s quite a lot. I''m sure we can help you find something just breathtaking for less. What are you looking for... and what is a more comfortable budget for you... and what does your lady want?

 

[Gleam]

waterlily,

I had always heard this, too... I don't know how flexible each salesperson can be, but at any rate, when we were looking at a ring I really wanted in the mid 5-figures at Tiffany (we ended up spending about 1/5 as much at a non-branded jeweler), I just frankly told the salesperson my budget, which was slightly below the ring's retail cost, and asked if there's "anything they can do." She said, "We can work with you. Let me check with some people." Who knows if in the end she really would've given us the discount. I asked if it's typical that they give discounts and she said, "Not on 'entry-level' items," which I took to mean all the standard stuff like the sterling silver, the lower-priced engagement rings (although no ring there is cheap!), etc.

Yes, before finding PS, I thought I had to spend THAT much to get the ring of my dreams! I can't thank you guys enough!!

I have a friend whose fiance got her ring at a discount from Harry Winston. I also got a discount on my new Cartier watch from Tourneau, an authorized dealer... I think you can almost always get a discount if you ask. I guess I'm shameless!!

 

[vetenks]

Thank for all your help and information so far, much appreciated! (apologies for my late responses to).

Yeah perhaps it is a bit extreme and your right I am struggling to find the money at the moment hence why I have opted to try and sell my collectables to help fund it. I guess the one saving grace, is that I am not exactly in a well paid job so the actual budget may not be as big as you think it, but in terms on relative to my salary after tax its about half a year salary.....why can''t I work for Goldman Sachs or Morgan & Stanley, a job for them will sure help this dilenma!

Anyway one important information I should tell you is that I live in the U.K. so anything outside the EU I am very likely to impose 20% import tax on top of the total cost (so please bare this in mind in my budget and specifications ), of course if you can think a way around this that would help me get a better diamond (the only idea I can think of is fly to the destination and get it myself, although preferably not.

The diamond must be a ''Brilliant Round'' Cut

I am preferably looking for the following:
Min:
Carat: 0.8
Colour: F
Clarity: VS2
Preferably want:
Carat: 1 (or just about, I noticed you said 0.99 is a considerable saving)
Colour: D-E
Clarity: IF-VVS1

Although my budget is about £5000 ($8500) for everything including shipping and tax! so not sure if this is possible with my ''preferable'' option? I roughly say $6000-6500 is my limit for the loose stone, if I have to pay for the platinium setting on top and very annoying tax, if anyone has any clever ideas or suggestiong to avoid roughly $1500 import tax I could use this additional amount to fund the loose diamond

Also at a last resort I am also considering going down the ''second-hand'' route for the diamond and having it set in a different ring. Where would be the best place for this? Hopefully I don''t have to go down this route though.

Is having some sort of fluorescene a good or bad thing?

I saw this diamond? but the only thing I can see letting it down is ''Carat'' size? anything else I should be concerned about? can you find better

http://www.jamesallen.com/diamonds/E-IF-Ideal-Cut-Round-Diamond-1272021.asp?b=16&a=12&c=77&cid=131
Thanks for all your help!

 

[swingirl]

Check these. I for one would say D-F and FI-VVS is overkill, especially with a tight budget.

This is a stone set in a fabulous setting by one of the primo platinum designers. If you do a search you'll find Mark Morrell is very highly spoken of. This is a beautifully cut stone, lower in clarity, though.
0.81ct E SI1

Here is another stone to consider. It's also an SI1 but the inclusions look really minimal.
http://www.goodoldgold.com/diamond/5761/

1.01ct G VS2

0.904ct F VS1

I am not loving the stone you picked. No problem with fluorescence but the cut is off for my liking.
You need to decide how important is it to have very high color and clarity and if you can be flexible with either or both.

 

[tyty333]

Date: 1/10/2010 1:37:49 PM
Author: swingirl
Check these. I for one would say D-F and FI-VVS is overkill, especially with a tight budget.

This is a stone set in a fabulous setting by one of the primo platinum designers. If you do a search you''ll find Mark Morrell is very highly spoken of. This is a beautifully cut stone, lower in clarity, though.
0.81ct E SI1

Here is another stone to consider. It''s also an SI1 but the inclusions look really minimal.
http://www.goodoldgold.com/diamond/5761/

1.01ct G VS2

0.904ct F VS1

I am not loving the stone you picked. No problem with fluorescence but the cut is off for my liking.
You need to decide how important is it to have very high color and clarity and if you can be flexible with either or both.

Absolutely! Drop down to a G/H color, VS1/VS2 or eye-clean SI1. More bang for your buck!

 

[Bella_mezzo]

COngratulations for really wanting to get a stunning ring for your GF. You will! The people on this site give excellent advice and can help point you towards some beautiful rings and settings.

I''d drop down to G/H color and VS2/SI1 clarity. You''ve already got some great stone recs, here are a few more...I included a few lower priced stones in case you decide to have a slightly more limited budget (really the ring will be gorgeous with any of these stones!!!)

If it were me, I would go for the AGS-10237406 or AGS-1040375560012 (depending on your final budget) and have it set in Brian''s "Grace" or "Truth" solitaire settings. You may be able to negotiate a little with them if they are selling you the diamond and making the setting.

I would be very upset with my DH if he had spent 6 months salary on a ring. It''s sweet gesture, but I''d feel pretty unhappy wearing a ring we couldn''t afford. Saving is one thing, but totally over extending yourself is something else (just my two cents

)

AGS-1040363310010 Brian Gavin H&A 1.036 F SI1 56.5 61.6 6.48 6.50 4.00 $6,510.00

AGS-10237009 Brian Gavin H&A 1.050 G SI1 55.8 61.1 6.56 6.58 4.02 $5,975.00

AGS-10237404 Brian Gavin H&A 0.902 F VVS2 55.6 60.9 6.25 6.27 3.81 $6,845.00

AGS-10237406 Brian Gavin H&A 0.902 F SI1 55.5 61.6 6.19 6.22 3.82 $4,895.00

AGS-1040375560001 Brian Gavin H&A 0.901 G SI1 57.2 61.9 6.17 6.19 3.83 $4,648.00

AGS-1040363310029 Brian Gavin H&A 0.834 F VS2 56.7 61.5 6.05 6.06 3.72 $4,195.00

AGS-1040381680054 Brian Gavin H&A 0.822 H VS2 56.3 61.7 6.00 6.02 3.71 $3,160.00

AGS-1040375560012 Brian Gavin H&A 0.800 I VS2 56.0 61.1 5.97 6.04 3.66 $2,754.00

 

[vetenks]

Strange, I weared I answered this but it obviously didn''t process.

Just wanted to say thanks for all your help guys, much appreciated.

I was also wondering what sort of discount% from their retail price is negotiable? Thanks

 

[swingirl]

Date: 1/14/2010 1:00:13 PM
Author: vetenks
Strange, I weared I answered this but it obviously didn''t process.

Just wanted to say thanks for all your help guys, much appreciated.

I was also wondering what sort of discount% from their retail price is negotiable? Thanks

Ask the vendors. Most offer wire transfer discounts.

 

[Bella_mezzo]

most PS vendors offer wire transfer discount and Pricescope discount. if you are logged into PSw hen you go on their site this will show up for whiteflash, and I think some of the others.

Also, if you get the stone and setting from the same vendor they can often shave a little off the price.

Then, if you have a really firm budget and are just barely above it SOMETIMES they can work with you. Just remember you can catch more flies with honey than with vinegar and that there are no guarentees they''ll negotiate.