The most sure-fire way to save money when buying diamonds is easy…
You ask for it!
I know this sounds silly and seems like common sense, but it’s the truth.
If you ask for a discount, chances are good, you’re going to get it.
No matter if the diamond or engagement ring is already on sale, no matter if they’ve already given you a price, trade-in, discount, whatever, it doesn’t matter. If you ask for it, you’ll probably get it (within reason).
What’s the worst they can say? “That’s the lowest price we can go.”
If this is the case, then you’ll know where they stand. No problem. Maybe it is the bottom line? You’ll never know if you don’t speak up.
Here’s another tactic that works well:
Carry around a notebook with you and use it. In your notes list all the different jewelers, prices, diamonds, and quality that you’ve seen and compared, and then proceed to add this store’s diamonds to the list as well (or you can Download my free diamond buying checklist and use that).
Jewelers will be very interested to know what the other jewelers are selling. It’s a great way to get their attention, show you’re serious, and let them know that you really are looking for the best deal possible.
Taking notes works. List everything in your notes that you can about the diamonds. Jot down the cut, color, clarity and carat weight. Make a note of who certifies it and the certificate/laser inscribed number as well. Note if the diamond has fluorescence or not. And above all else, write down the bottom line price. Do this line by line and divide the list by jewelry stores.
I guarantee you that it will raise some eyebrows. The jeweler will instantly know that if he can’t get you a better price right now, then he’s going to lose a sale. What’s funny about all of this is the fact that he also knows that if the price he gives you isn’t good enough, then the other jewelers will surely beat it. Jewelers can get very competitive when it comes to diamond prices and they will scramble to keep you in the store.
This tactic works.
You just have to lay it on the line and not beat around the bush. “Is this the best deal you can give me?”
Make them sweat.
Another trick that works well is when customers name their price.
I’ll tell a customer that the bottom line is $2,350 for a particular diamond ring. He’ll look at the diamond, ask a few more questions, then come back with “$2,000 cash out the door!”
Does it work?
Quite often, YES!
It puts a lot of pressure on the jeweler to strike a deal. And a lot of times the jeweler will meet you halfway. They may not be happy about it, but who cares? You’ll get a good deal. You’ll save money. Life goes on.
Ask for a discount.
“Can you go 40% off?”
Really! What have you got to lose?
I would bet that there are a couple of jewelers near you that are hungry enough to want to wheel and deal. Someone wants a sale. Times are tough…
Give him a sob story if you have to. You’d be surprised what jewelers hear. “We have to pay for the wedding” “The car broke down” “College payments” “I have to buy a new couch” lol It’s not begging, although I’ve seen that too, it’s just saying one thing loud and clear:
I WANT TO BUY A DIAMOND!
HOW BADLY DO YOU WANT TO SELL ONE?
If you want to save a couple of bucks, a couple hundred bucks or even a couple thousand bucks… You must ask for the discount (or just check out James Allen, their prices are low to begin with).
“I’ll take it if you knock another $250 off the price and throw in tax.“
Because when it all comes down to it, jewelers want to sell diamonds. But you have the upper hand. It’s your money.
“Is this really the bottom line?”
One more tactic that works well…
Bypass the salesperson. Only deal with the manager, boss or owner (ask for them when you walk in the door). Cutting out the middleman does a couple of things:
1) It ticks off the salespeople (lol, namely me, but I can fend for myself).
2) The jewelry store doesn’t have to pay commissions.
When you cut out commissions, you’ll surely get a better price.
Want more ways to save money on diamonds?
Check out my book:
101 ways to save money on diamonds (it’s on Amazon).
Top Recommended Vendors:
James Allen is a leader in diamonds. Their real time interactive diamond inspection is the best in the industry. View and rotate any diamond under 20x magnification. Their prices, selection, lifetime warranty, 24/7 customer support and hassle free returns are unbeatable. Visit James Allen today.
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