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How do you decide/plan a purchase?

lovedogs

lovedogs

Super_Ideal_Rock
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Jul 31, 2014
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Hope it's ok to post this here! I would love to hear from fellow PSers how they decide to pull the trigger on a "big" (price wise) item.

Do you have a mental list of things you are saving for and check them off? Or a monthly/yearly bling budget and you buy stuff you love without set "plans"? Or other?

Asking to get some perspective as I am trying to decide whether to pull the trigger on a big (for me) budget item. It checks multiple boxes of things I've wanted for years now, but came about unexpectedly when I wasn't actively looking. It would mean no more bling for the rest of this year (probably).


Cant really share more than that, so keeping the question vague to hear folk's own thought process when deciding on a purchase.
 
This is a tough question. I generally have a mental wish list. I budget and then I research. But I ended up buying my OEC way faster than I had planned to. On pieces that are more unique or rare, sometimes you just have to do.

In the future, I would like a 5 stone ACA ring and larger tennis bracelet, but I don't feel any sense of urgency on these pieces because I think they will always be readily available.
 
I think about it for a long time - where does it fit in to my “jewelry wardrobe” why do I want it, is there a less expensive substitute which will scratch the itch or is this something to splurge on etc. that means I miss out on good deals but I rarely buy something I really regret so I think overall it works out.

I don’t have a budget per se, it is more of a mental list of the things I’d like to have ideally.

I hope you give us a hint on what your special item is :) good luck deliberating!
 
lulu_ma said:
This is a tough question. I generally have a mental wish list. I budget and then I research. But I ended up buying my OEC way faster than I had planned to. On pieces that are more unique or rare, sometimes you just have to do.

In the future, I would like a 5 stone ACA ring and larger tennis bracelet, but I don't feel any sense of urgency on these pieces because I think they will always be readily available.
Click to expand...

The bold is what I'm struggling with. This is unique, rare, and ticks multiple "boxes" for me. But it also feels wrong somehow to spend such a significant amount of $ on something that wasnt "planned" (e.g. I wasnt looking, etc).
 
I think this is a great question and probably everyone’s answer will be different.
I have a hybrid method, if you will.
I would characterize my method as long-term planning on big pieces to create my jeweler wardrobe while at the same time being open to the right thing if it sneaks up on you quicker than you planned!
I definitely plan out my foundation big pieces. Examples would include my 8.5-9mm opera length pearl strand, my diamond bracelets (one white gold one yellow), my diamond stud earrings. My solitaire diamond pendant. Each of these took a long time.
But then if I see something that I would cut my left arm off for, then I snap it up quickly if financially possible. Example of this is my avatar 4.5 carat cornflower blue sapphire set in an over-the-top 1960’s marquise and round diamond bombe ring. I had been looking for a showstopper RHR but didn’t know exactly what it was until I saw it! When I saw it....boom.
But again, I had planned on a RHR for a long time.

No right or wrong answer here IMHO.
PS-I totally understand you being deliberately vague....but please let us know once you pull the trigger!
 
lovedogs said:
The bold is what I'm struggling with. This is unique, rare, and ticks multiple "boxes" for me. But it also feels wrong somehow to spend such a significant amount of $ on something that wasnt "planned" (e.g. I wasnt looking, etc).
Click to expand...


Ahhh, I see.
Well in that case, let’s do the “if it sold out from under you right this second” exercise.
Would you be devastated and would it haunt you as the one that got away?
Also, if it’s a rate or unicorn piece, then perhaps it deserves jumping ahead of the line.
Like @sledge says....we here aren’t much help because it’s the equivalent of walking into a crack house and asking the addicts if they think it’s a good idea to do more crack!!!
 
Efleon said:
Ahhh, I see.
Well in that case, let’s do the “if it sold out from under you right this second” exercise.
Would you be devastated and would it haunt you as the one that got away?
Also, if it’s a rate or unicorn piece, then perhaps it deserves jumping ahead of the line.
Like @sledge says....we here aren’t much help because it’s the equivalent of walking into a crack house and asking the addicts if they think it’s a good idea to do more crack!!!
Click to expand...

Lol I've been doing that excercise a lot the past day or so. Part of me would be devastated, and part would be relieved that I no longer had to make a hard decision :P I keep checking if its sold and being both deeply relieved and annoyed that it appears still available.
 
@lovedogs is the piece returnable?

I’m not going to lie, when I got my OEC I was stunned from excitement AND also from the fact that I spent that much money so quickly. The return option gave me some reassurance.
 
@lovedogs now you have to let us know which stone you were talking about!:) (pretty please)
 
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lovedogs said:
I will! Just going to be sad here for a few hours but then I promise to share.
Click to expand...

~hugs~

I do know how you feel. In my months of research there was 1 stone that SCF listed in January that I wished I had been ready to buy. I will always wonder but I do love my OEC.
 
Efleon said:
Sitting quietly by in solidarity with you while you are understandably sad....:cry2:
Click to expand...

Reminding myself that it's just a diamond and that this is an epic example of a first world problem. So in the grand scheme this is nothing. But yeah, I'm actually sadder than I expected
 
Efleon said:
Sitting quietly by in solidarity with you while you are understandably sad....:cry2:
Click to expand...
lovedogs said:
Reminding myself that it's just a diamond and that this is an epic example of a first world problem. So in the grand scheme this is nothing. But yeah, I'm actually sadder than I expected
Click to expand...

*tries-to-be-quiet-but ends-up-making-all-the-noise-in-the-world and sits down with you guys* virtual hug if you want it, @lovedogs
 
Sorry I didn't see this earlier and couldn't chime in before now.

For the next time you are struggling with an impulse buy....

1. I simply don't believe in buying or investing in things I don't know about. So first I have to know in depth what I'm getting into when I decide to buy. Anytime I have done otherwise, it bites me in the rump.

2. Part of understanding what I'm buying entails knowing what the market price is. I love great deals, so to jump when I wasn't specifically looking would entail some sort of a price advantage for me. Either it's priced below market, or I have a way to purchase, enjoy and re-sale for a profit of a meaningful magnitude.

3. Cash is power. If I don't have the money in my account, I won't get in debt to buy it.

4. Does it completely blow my socks off and/or hit a sentimental note of any accord? If not, why the rush?

5. Although I may have the cash reserves, is that sort of a purchase in my overall budget plan? You guys know I like guns and own lots. There's a line item in my budget for buying accessories and new guns. Depending on life events & goals at the specific time I may or may not have money allotted for that particular category.

6. If I don't buy it, will I regret it?

7. If I'm still struggling, can I put a deposit down to slow the time table and make a better decision? I rarely like A or B decisions. They seem too limited. I normally look for a C, D & E option. Of course, my signature may have given that away.
 
If I ogle at something for more than a month, I know its not an infatuation and that I genuinely need (??) it. At that point, it is a matter of whether I can just buy it right away, or plan the purchase. If I have to plan the purchase, then I keep some money away each month from my salary, or if DH kindly offers to buy it for me, then he just buys it.
 
To answer the question in the original thread (though I am sorry you missed out on it!) I tend to be an obsessive planner, I make a list and won’t buy an item unless it’s been on my wishlist for at least 6 months continuously, plus I restrict myself to 1-2 purchases a year. That being said, I have regretted just once in my life vacillating over a steal of a deal that sold from under me when I was still contemplating. So now if I just KNOW, and if it’s something that isn’t easily replaceable at that price, and it’s within my budget / fits with my style and aesthetic and is a steal; I would probably buy it.
 
lovedogs said:
Welp, the stone in question sold, so nevermind! I am both sad and relieved (as I expected to be). Sigh.
Click to expand...

ugh i know that bittersweet feeling. one thing about any big purchase, there is almost always another opportunity around the corner.
 
sledge said:
Sorry I didn't see this earlier and couldn't chime in before now.

For the next time you are struggling with an impulse buy....

1. I simply don't believe in buying or investing in things I don't know about. So first I have to know in depth what I'm getting into when I decide to buy. Anytime I have done otherwise, it bites me in the rump.

2. Part of understanding what I'm buying entails knowing what the market price is. I love great deals, so to jump when I wasn't specifically looking would entail some sort of a price advantage for me. Either it's priced below market, or I have a way to purchase, enjoy and re-sale for a profit of a meaningful magnitude.

3. Cash is power. If I don't have the money in my account, I won't get in debt to buy it.

4. Does it completely blow my socks off and/or hit a sentimental note of any accord? If not, why the rush?

5. Although I may have the cash reserves, is that sort of a purchase in my overall budget plan? You guys know I like guns and own lots. There's a line item in my budget for buying accessories and new guns. Depending on life events & goals at the specific time I may or may not have money allotted for that particular category.

6. If I don't buy it, will I regret it?

7. If I'm still struggling, can I put a deposit down to slow the time table and make a better decision? I rarely like A or B decisions. They seem too limited. I normally look for a C, D & E option. Of course, my signature may have given that away.
Click to expand...

I like your list esp. #5. I have a line item in my budget for Gifts (aka jewelry and purses) and my financial advisor asked me why I have such a high amount for gift item. Lol.

@lovedogs, sorry to hear you missed out on an item. Happened to me years ago and still kicking myself from time to time. Now if something comes up that‘s on my wish list at a good deal (to me), I’d jump on it and ask question later. There’s alway returns or resellers if it doesn’t work out. Probably not the wisest thing to do but haven’t regretted it since.
 
lovedogs said:
Hope it's ok to post this here! I would love to hear from fellow PSers how they decide to pull the trigger on a "big" (price wise) item.

Do you have a mental list of things you are saving for and check them off? Or a monthly/yearly bling budget and you buy stuff you love without set "plans"? Or other?

Asking to get some perspective as I am trying to decide whether to pull the trigger on a big (for me) budget item. It checks multiple boxes of things I've wanted for years now, but came about unexpectedly when I wasn't actively looking. It would mean no more bling for the rest of this year (probably).


Cant really share more than that, so keeping the question vague to hear folk's own thought process when deciding on a purchase.
Click to expand...

That's easy for me. I get it in my head and I have to find a way to fund it. I have 3 kids a fabulous husband but bills. So when I decide I need a new project. I tell the hubby and his part is to gift me $ for each holiday towards my "project" the rest comes fro the sale of my vintage barbie collection or family pieces that are saleable. It ain't easy. I don't have a lot of disposable income but I love my jewels and my Louis ....
 
I have a list of items that I want to have in my “forever jewelry“ wardrobe. They tend to be classic items. Those are items that I methodically check off my list as the opportunity arises, no matter what.

Other random, “fun” items, it just depends on how much it costs and whether I think that I’ll really wear it. I hate having items just sitting around, so I won’t even buy something inexpensive if I don’t think that I’ll really use it.
 
I had a list of desired jewellery items, from about when I was 15, and over the years ticked those items off.
the last one was owning a huge aquamarine ring but with a price under $1,000. Took about 15 years ha ha.
Mind you, over the decades there have been “upgrades” to items. My first Rolex was a two tone gold and stainless steel.
For me at least, a lot of the enjoyment comes from the researching and searching and buying at a good price. The only ring I’ve “had made” is my engagement ring, virtually everything else is “pre loved”.
I have a huge amount of jewellery as I rather spend my money on that than on say designer clothes or designer handbags. I’m not a high maintenance lass with beauty or hair products or services so I can in part justify my spending on pretties. It’s got to the point now that if something catches me eye I will buy it and then sell something else to cover the purchase.
Hmmmmm.
I have about 20 rings, 9 necklaces, 5 bracelets, 12 pairs of earrings and at least 5 watches that I should have sold already. :liar:
Its a work in progress :shifty:
 
I try really hard NOT to browse as I end up seeing things I didn't need but suddenly desperate want ya know? :lol: Usually I plan a long time in advance as budget is crucial so I work with Daniel M to plot out what I want, how much and which stones (he has a bunch of my stones in his safe) I want to set at that time. I've definitely made mistakes with random purchases, like it didn't fit in my wardrobe or I have financial regrets so I try to be more considered about it now.
 
Every time I know I'm not settling.
I've settled so many times...and I end up hating those piece for that exact reason.
At the end of the day you can't fool yourself.

When that piece you are watching does eventually get purchased by someone else... how heartbroken are you going to be?

Once I thought I'd be relieved... and I was relieved for 5 minutes. I'm actually now selling my jewelry so that I can custom create that ring that got away...
 
lulu_ma said:
~hugs~

I do know how you feel. In my months of research there was 1 stone that SCF listed in January that I wished I had been ready to buy. I will always wonder but I do love my OEC.
Click to expand...

Efleon said:
Sitting quietly by in solidarity with you while you are understandably sad....:cry2:
Click to expand...

Bc I know both of you were curious. It was the stone on the right in this post.

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They don't hold stones so I knew that taking time to decide was a risk, but I just couldnt make a decision about a big $ purchase quickly. Totally regret it now, but that's ok. I truly wasnt ready to buy until today, and would have probably felt a lot of guilt if I had spent so much without giving it a lot of thought.

There are always stones, but man I am sad about this one.
 
Ugh. Sorry @lovedogs .

No others in that material that you would consider?

Is it possible for you to get on a waitlist? (Sorry if I’m asking stupid questions-I don’t know this seller).
 
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