How much to negotiate diamond prices?

Question

I'm in the market for a diamond engagement ring. Yellow diamond, to be exact, either a single stone or with two white side stones. I've shopped a bit, but not extensively, and gotten prices ranging from $13,000 to $25,000 depending on the stone, etc. My question is this: how much is the price negotiable? If the dealer says $21k, what can/should I actually expect to pay? Is it looked down upon if he says "21" and I say, "I can give you 18"? How flexible are these prices? 5%? 10%? not at all?

I'm looking mainly at smaller independent dealers, not places like Tiffany's or Harry Winston, if that makes a difference.

I should emphasize that I'm looking at fancy colored diamonds, that are fairly rare -- it's not like buying a car, where the guy in the next town has the same car with the same specs. If I say "the next guy has it for less," the reply will always be, "well sure, but it's not the same stone," because it never is. That makes haggling a little more difficult.

Thanks for your advice, though, and keep it coming!

PS: I would venture to say that I do more to help homeless people than the person who commented, so I've got that base covered, too. Thanks for asking though.

Answer 1

I'm a certified gemologist and have worked int he jewlery field for many years..each store is different, some places can drop there prices up to 15% but on diamonds that is usualy as high as they will go..not every store can afford to do more than 5% because they buy and sell cheaper..i can't much tell you what price you should be looking for unless i know the size and clarity and setting of the ring your looking at. a 1 carat SI in clarity..maybe $10,000-$15,000 depending on the place..if you want to give me more info i may be able to better help.

Answer 2

Prices are damn near always negotiable. Find an independent, AGS certified jeweler, and be honest about what you want, and what you want to spend. They will get you the best stone, for your price range, and will work to get you the best prices, too.
Coming from someone who works in the industry, alot of jewelers can flex as much as 10-20% on diamond prices, especially if you buy loose. Don't be a jerk about it, though, or I guarantee you won't get a darn thing!

Answer 3

Haggle away. My dad haggles for fine jewelry and it constantly amazes me. How flexible depends on the establishment. Know the fair market price for the item you want. Know how much you're willing to spend. Then go from there. Feel free to use the "I saw this cheaper somewhere else" ploy.

Answer 4

You can try, but since most dealers have the same supplier, there is not bound to be too much flexibility. Sometimes however, you may encounter a dealer with a stone he has to get rid of, and he may be willing to talk

Answer 5

Why would you pay that much for a piece of jewelry you must have $$$$$$$ to burn. Geez hepl out the homeless or something

I am not a goldigger I have more important things to spend my money on like my family and friends than a ring. Sorry. Good for you though

Answer 6

My hubby haggles with everything, and I think probably got the store to shave off about 12% of their cost. Paying in cash helps too, if they know they'll have the money right then, rather than having it financed, they'll have more incentive to bargain as well. Good luck!

Answer 7

As alway.. the worst possible thing that could happen is they tell you NO, so I would at least try..... Tell them another store offered you 5% off or had that diamond cheaper.... they might work with you... or laugh at you. Either or, it never hurts to try!

Answer 8

i might be wrong i thought the yellow gem has another name compared to a diamond.. but i could be wrong...
watch out for the small wheeler dealers...
my fiance' was royaly screwed.....