Engagement ring pricing... thoughts please

[phil1979]

I know there are a multitude of places to get the ideal ring for the best prices, but let's say the lady sets her heart on a ring from a shop (be it a snazzy shop, or highstreet job - it matters not).

Is there a general rule about pricing? For example, like houses, should you always pay lower than the sticker price?

Do all retailers expect to haggle? If so, generally by what sort of % is deemed normal?

Also, any tips for decent retailers in the Hatton Garden area? I can't face the online retailers. I've read the threads about the good value etc, but I am no gem trader, and could end up getting royally fked via that route.

Thanks

[escargot]

Lord Summerisle & Nightmare know the diamond industry pretty well.

[phil1979]

escargot said:

Lord Summerisle & Nightmare know the diamond industry pretty well.

I've seen them offering some great advice in other threads, but usually around the subject of buying online (Blue Nile and the like). Hopefully they will spot this thread and be able to offer some advice on my scenario.

[Penny-lope]

My ex paid with cash, and managed to get £250 off a £1000 platinum/princess cut solitaire ring.

[Risotto]

I narrowed it dow to two rings and couldn't decide which one to get. I asked if there was any leeway on the price of the one I thought the missus would like best and they knocked a couple of hundred off.

Having said that, with hindsight I would have bought online - which we did when we got the wedding rings.

[AB]

Penny-lope said:

My ex paid with cash, and managed to get £250 off a £1000 platinum/princess cut solitaire ring.

Cheapskate, I guess he knew it wouldnt be the last one he was going to have to buy

Only joking with you.

[bertie]

I'd also recommend the Jewelry quarter in Birmingham, got exactly what she wanted and it was roughly half the price in the highsteet stores and much better quality certfied stones.

Was also a very interesting exercise in understanding stones a bit and saved me thousands literally.

[Nightmare]

phil1979 said:

I know there are a multitude of places to get the ideal ring for the best prices, but let's say the lady sets her heart on a ring from a shop (be it a snazzy shop, or highstreet job - it matters not).

Is there a general rule about pricing? For example, like houses, should you always pay lower than the sticker price?

Do all retailers expect to haggle? If so, generally by what sort of % is deemed normal?

Also, any tips for decent retailers in the Hatton Garden area? I can't face the online retailers. I've read the threads about the good value etc, but I am no gem trader, and could end up getting royally fked via that route.

Thanks

As with all business, jewellers run a mark-up on their goods (would be a rubbish business otherwise!) What that mark-up is, is down to each one....and it can be quite varied. Hatton Garden shops tend to run at quite a high mark-up compared to most (Birmingham jewellery quarter significantly cheaper often)

I would suggest that the percentage off is rather down to the overall spend....obviously if you're buying something with a sticker price of 10K it will have more room for play than something worth 1k.

always worth haggling, but some places just wont entertain it, where as others see it as part of business. You tend to get little haggling on branded stuff rather than handmade as the margins are smaller and more set.....oh, and dont expect to get a good discount on a bulgari or cartier ring or similar!

HTHs

Cheers
Night

[fivesixseven8]

phil1979 said:

escargot said:

Lord Summerisle & Nightmare know the diamond industry pretty well.

I've seen them offering some great advice in other threads, but usually around the subject of buying online (Blue Nile and the like). Hopefully they will spot this thread and be able to offer some advice on my scenario.

I sourced my wifes engagement ring through Nightmare. I cannot speak highly enough of him.
Took a whole morning to meet me at the shop in Hoddesdon and show me various diamonds and help explain the 4 C's with physical examples. Then ordered in various stones once we knew what we wanted and then had a second round of that to find just the right stone. They even sent us the final two stones in the post so we could decide which one to use.
The ring itself was custom made from my design by Matt (Nightmares Bus partner) at Equinox. The workmanship is second to none.

When you compare the crap that we saw on the highstreet and the prices they display them with, I cannot understand why anyone would ever buy a generic engagement ring.

The other bonus is that they did me a VERY good price on the stone and materials. Wifey got a bigger diamond than she expected and my wallet didn't hate me for that long afterwards!

[V8mate]

Shouldn't the engagement ring cost a month's salary?

Whether that's before or after tax I'll leave you to negotiate with your prospective OH

As for my 'thoughts' (in the title): don't do it. Dump her and put the money towards a new car.

[Sonofabeesting]

Look into getting one custom made (cheaper than you would think) and sounds cool!

[bertie]

Nightmare said:

.....oh, and dont expect to get a good discount on a bulgari or cartier ring or similar!

HTHs

Cheers
Night

Funnily enough, I bought the wife a Cartier watch from the New Bond St shop, after much waffle about it being from a particular collection and there were only 3 of that style etc, anyway she winced as I asked for discount if I bought it there and then, but they did it and knocked a chunk off.

Always worth and ask wherever you are!

[wanacoop]

V8mate said:

Shouldn't the engagement ring cost a month's salary?

Whether that's before or after tax I'll leave you to negotiate with your prospective OH

As for my 'thoughts' (in the title): don't do it. Dump her and put the money towards a new car.

I bought my fiancée her engagement ring last yr, i was told about the '1 month salery' thing. I asked the owner of the shop that i bought the ring in about that, he said 'guess who made that up?' i replied 'you guys?' he said that it was the diamond trade! Cheeky buggers!

[Howitzer]

I went onto Blue NIle after finding out about what makes a good diamond, lots of advice was read about on here and from a friend.

I had the diamond shipped over (very professional and discreet service) then had a good local jewelers set it into a ring I chose.

Forget the cost, just get one which you think she will like, far more personal and gained me lots of brownie points.

Dave!

[fivesixseven8]

Howitzer said:

I went onto Blue NIle after finding out about what makes a good diamond, lots of advice was read about on here and from a friend.

I had the diamond shipped over (very professional and discreet service) then had a good local jewelers set it into a ring I chose.

Forget the cost, just get one which you think she will like, far more personal and gained me lots of brownie points.

Dave!

The problem with buying online from spec is that a stone can sound very good on paper, but can be far from great when you actually see it (a subjective point admittedly.) I'd worked out the C values I was after and looked at some either side of this, the outcome was not what I was expecting tbh.

[st_files]

Try a vintage ring, much cooler and lots of history....

[Lefty Guns]

I bought and paid for 3 diamonds and the jeweller basically set them into a platinum band for free. Maybe a saving of £3-400?

ETA, that was £3k in 2005. It's nice to have the perosnal touch of choosing the specific size, colour and cut of the stones as well as the exact style of the setting and band. Thing is, you need a good idea of what she's going to like.

Edited by Lefty Guns on Wednesday 21st October 12:51

[phil1979]

fivesixseven8 said:

Howitzer said:

I went onto Blue NIle after finding out about what makes a good diamond, lots of advice was read about on here and from a friend.

I had the diamond shipped over (very professional and discreet service) then had a good local jewelers set it into a ring I chose.

Forget the cost, just get one which you think she will like, far more personal and gained me lots of brownie points.

Dave!

The problem with buying online from spec is that a stone can sound very good on paper, but can be far from great when you actually see it (a subjective point admittedly.) I'd worked out the C values I was after and looked at some either side of this, the outcome was not what I was expecting tbh.

Thanks for all the replies.

I wanted to quote the above as this is exactly the reason I don't want to go the online route.

In answer to Nightmare, my budget is around £3k.

Birmingham's out the question, so London it will need to be. Any particular places worth checking out first?

Thanks again

[OnTheOverrun]

phil1979 said:

In answer to Nightmare, my budget is around £3k.

Don't spend more than £50 on an engagement ring. If she really loves you she won't care.

[SunnyD]

I thought it was supposed to be 3 months salary??