online prices vs. la diamond district.

[naclux]

Hi all!

I am a soCal resident who is just in the starting stages of finding an e-ring for my g/f. Many of my friends recommended that I check out the diamond district in LA for the best diamond prices. I've done my fair share of research online (especially by lurking around ps forums) and have visited some stores nearby my home and work to get some preliminary quotes from local vendors.

Are the prices in LA really that much better than what I'd find here locally or even from online retailers like whiteflash / gog / ja / bn ? I kinda like being able to see the stone in person before buying but LA is a 1.5 - 2.0 hr drive each way. There are some stones i've found online that I really like, but I kinda feel like I should check out LA's famous diamond district first before pulling the trigger (cause a good number of my close friends have said nothing compares to their prices!).

Any thoughts / comments would be greatly appreciated. Thanks!

 

[denverappraiser]

In terms of prices, no, it makes no difference. Each dealer sets their own prices and they are welcome to charge whatever they want. Some charge a lot, some charge a little and it's not their address that makes the difference. An important issue to keep in mind is that the dealers will not describe the sme stone in the same way so it's remarkably difficult to compare apples to apples. One will call a stone F/VS2 and another will call it G/SI1. The stone is unchanged; it is what is. It's the 'certificate' that's different, but it can change the shopping perception drastically. If you're not extremely careful you'll find that the person who quotes the lowest prices for a particular set of specs will end up being the biggest liar or the best at concealing the specs that are driving the price down and that you forgot to ask about. By all means, push for the best prices, I would, but be aware that you are delving into a danger area. Nearly everyone claims to have cheap prices and they are ALL wrong. It is not even possible to have the best prices on every possible item.

When you get past the grading issues and the value added attributes like access to their particular designer or their showroom, the difference usually has to do with the costs of the operation. Fancy showrooms with lots of sales staff and major advertising tend to cost more to maintain than a lean and mean dropship operation and you can expect this to be reflected in the prices. As you point out, theres also value to you in buying from one place over another so you need to decidewhat it's worth to YOU to be working with a local vendor or with one who communicates well with you. Tiffany's and Costco have some overlap is very similar merchandise and both outfits have loyal customers who wouldn't even consider shopping in the other. That doesn't make either group wrong.

Not to sound like I'm endorsing LA but a 1.5 hour drive is nothing for a once in a lifetime purchase. For me that wouldn't even be in the top 5 concerns.

 

[oldminer]

Denverappraiser has really told you "the way it is". It is not a pretty picture he has painted, but it has the truth about the dilemma consumers face in making apurchase decision. I am certain that you can do as well as any place on earth buying on-line from the active Pricescope vendors here. I won't amke a penny on it, but really you don't need to know much to select what you would be very proud to give and you'll pay the right range of price.....a low mark-up based on the actual value, so long as you stick to diamonds with GIA or AGSL reports in well cut quality stones. You'll need to figure the best compromise of color, clarity and weight as well as determine the shape you wish to buy, but the rest can basically be relied upon. All the venodrs have fine return policies and there are plenty expert appraisers who can finalize your decision process for less than a 4 hour round trup would cost you in time and aggravation.

Do some shopping and determine the color, clarity, shape, weight diamond you want. Add some money to your budget range when shopping in local stores and then make some comparisons with the Pricescope tools for finding diamonds. Before you know it you will find the diamonds that you want and you may see their cost is within your budget range. You can always give local stores an opportunity to come close and do business locally, but not every store wants to compete in that way.

 

[kenny]

GIA and AGS are the only labs with more consistent grading standards that are respected.
Astonishingly, EGL, IGI and others legally get away with color and clarity grading that is more "generous" to be kind.
The same diamond that EGL graded G VS1 may get grades of H VS2, I SI1 or worse from those other labs.
If EGL did that with carat weight they'd be sued out of existence fast.
They get away with it by exploiting the argument that color and clarity is more subjective than weight.

That makes an EGL diamond seem cheaper when you are comparison shopping.
So be sure to stick with GIA and AGS graded diamonds because you can be certain of the grading and therefore the price.
People who think GIA/AGS stones are overpriced just don't understand other lab reports can be big fat lies.

BTW also live near the LA diamond district and have bought around a dozen diamonds in the last 6 years.
Not one was from the LA district, or any brick and mortar.

What it is good for is seeing examples of color and clarity to discover what grades you are comfortable with.
Just be certain you only look at AGS and GIA stones.

 

[Fifty9Dunes]

Long time lurker, first time poster here!

I figured I'd chime in as I recently faced the same dilemma here on the right coast. I live in Philly, where we have one of the oldest diamond districts in the country (Google: "Jewelry Row, Philadelphia" sometime).

To make a long story short, over the months of engagement ring hunting, I ended up making the trek to Good Old Gold in Long Island (You'll read about them on this board). Basically, it was a three hour drive each way, expenses, etc...but just getting out of my local shopping area opened up an entirely new perspective - plus their selection, and customer service ended up being second to none.

Any way - just wanted to give you some positive reinforcement on the thought of traveling for your stone - and hey, the drive down the 5 is at least scenic and palm tree laden - we're currently getting a foot of snow, so put that top down and take a drive!

Cheers,
-Arnold

 

[PNut]

Hi, I'm also from SoCal and we shopped around for about 5-6 months. I think the biggest issue is the fear or uncertainty of buying something you haven't seen yet. At first we were willing to pay more to go locally, but the more I talked to the local shops, the less I liked them. (Especially Robbins Bros, ugha. )

Pricewise, online (out of state) pretty much trumps anything local b/c of taxes, or lack of right off the bat. You can pay cash for a discount at some places .. but then, that's questionable too. Then there's also the competition online which is pretty good too. Using the Pricescope search can yield a discount with some vendors/partners. Check their Facebook as well, sometimes they have $100 off (Eternity for example).

Qualitywise I think if you do the research, teach yourself/learn a few things (idealscope, H&A if it matters to you, HCA, etc.), and have a reputable cert (AGS/GIA), you can talk yourself into being comfortable

- P

 

[MarkBroumand]

I believe everyone has heard horror stories about every diamond district no matter where they are in the country! I think the point lies in what everyone above has already told you. Learn what you can so that you could make an educated decision. You have already found PS, so you're on the right track. No matter what a vendor says to you, look for the important stuff - paperwork/policies, ie. return, trade in, upgrade, etc...In the end, no matter how hard someone tries, if they're phony, it's going to come through. You just have to do your part knowing what to look for, the right questions to ask, setting your limits. Any doubts, be sure that you have tons of informed consumers who would like nothing more than to help you through this very important purchase right here.

 

[naclux]

Thanks all for your input!

You're guys are right and driving 2.0 hrs and dealing with LA traffic is definitely something worth doing once or twice for this once in a lifetime purchase. At least I will have the peace of mind of knowing that I explored all my options before making the purchase. At the very least, I can make it a day trip with my g/f and get to enjoy some tasty LA korean bbq! )

Also, the more that I learn from PS, it seems like vendors like WF, BGD, and GOG are highly reputable and so it eases my concern for not being able to see the diamond in person before purchase. Is it common practice to buy a diamond online and then try to find a better stone from a B&M store and maybe use as a bargaining chip (and return within return window policy if they're successful)? Would that be frowned upon?

 

[slg47]

Thanks all for your input!

You're guys are right and driving 2.0 hrs and dealing with LA traffic is definitely something worth doing once or twice for this once in a lifetime purchase. At least I will have the peace of mind of knowing that I explored all my options before making the purchase. At the very least, I can make it a day trip with my g/f and get to enjoy some tasty LA korean bbq! )

Also, the more that I learn from PS, it seems like vendors like WF, BGD, and GOG are highly reputable and so it eases my concern for not being able to see the diamond in person before purchase. Is it common practice to buy a diamond online and then try to find a better stone from a B&M store and maybe use as a bargaining chip (and return within return window policy if they're successful)? Would that be frowned upon?

I think usually the prices are a lot better online, so I doubt you would be able to find something at a B&M that compares (I was able to! but I think this is rare.)

 

[denverappraiser]

Is it common practice to buy a diamond online and then try to find a better stone from a B&M store and maybe use as a bargaining chip (and return within return window policy if they're successful)? Would that be frowned upon?

The jewelers usually find it annoying because it's often difficult for them to compete on price.

The discount Internet sellers occasionally find it annoying because jewelers and 'appraisers' often say things that may or may not be true and it can lead to something of a pissing match.

If you find one that's a better deal locally and you have to make a return, you will have 'wasted' a bit on shipping and the seller will probably be annoyed.

That said, people do it all the time. It's a big purchase and it's entirely appropriate for you to be a careful shopper and to end up with exactly what you want for the best price you can get. If someone frowns on that, so be it.