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Old deg115

Quote this post and reply to it Post#1 @ 04-19-99 , 03:51 PM

I will be purchasing an engagement ring in the near future in the range of $6,000 to $7,000. Is it customary to negotiate the price of an engagement ring? The jeweler has already told me that he will give me a 5% discount for cash, will he negotiate even more? What is the normal profit margin for a ring in this price range?

Any advice is appreciated.

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Quote this post and reply to it Post#2 @ 04-23-99 , 09:26 AM

Did you negotiate your car? Did you negotiate your house? For me, if you don't eat it or wear it, you can negotiate.

If you buy from a national retail outlet (like at the mall) there may be some reduction in how much the sales rep can move on the price, but independent jewelers usually have a pretty hefty markup and can come down on the price if you are serious about buying. Don't get me wrong, even a jeweler deserves to make a buck; but that shouldn't mean paying WAY too much for a diamond.

Have you looked into the Internet as a source? There are some very well cut, certified diamonds out there selling for 10-50% less than local jewelery stores. Most online dealers offer money back guarantees, copies of certifications ahead of time, and a wide selection of custom settings, at or near cost. It can be scary buying a diamond sight unseen, but it can also be incredibly fulfilling and cost effective.

Good luck. With your budget, you should end up with one fantastic diamond!

Jim Schultz

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