Haggling at a jewelers

mdb99jh

Hi guys

Everyone knows that high street jewelers put a big mark up on all the pricey stuff, but my question is, how much are they prepared to drop that price to make a sale? I am thinking of making a significant purchase (>£1000) in the near future, so need to know what to aim for when haggling. Do you think I should push for 15-20%?

All help appreciated!

Thanks

mrak

I once went to buy a Diesel watch at an independent retailers in Haton Garden, and negotiated 10% off what was already a sale price... The retailer in question was called "Durrants". Little purple boutique, you can't miss it. The staff were friendly and the product range was ace. This was sometime last year, but I guess they're still around.

Haton Garden is packed with jewellers, and I think this increases the likelihood that you'll be able to negotiate a discount (a lot like TCR for electronic gear).

Hope this helps,

Mrak

shays_mum

Def agree!, stick to the independants, not only are there products better quality, but also you can haggle!, i got my ring vvs2 colour e 3 diamond ring + 22ct wedding band valued @ £2500 for £1200 with the insurance valuation & diamond certificate

fatboyonadiet

Independents are cheaper, I've successfully got 15% off at Beaverbrooks and 22% off at Goldsmiths in the past. Wouldn't buy diamond rings from them, jewellery quarter for that.

Bob63

Markups across the jewellery trade are huge whether you go to a multiple = huge markups and inflexible pricing, or to independents = large markups and much more flexible pricing. By all means try to haggle with an independent.

I do it differently. I have bought a few items from an online specialist Jewellery Catalogue - https://www.jewellerycatalogue.co.uk Delivery is fast, typically 2nd day after the order is placed, quality is excellent and prices are stunning in comparison with traditional shop-owning retailers. I saved well over 50% on a heavy 9ct gold bangle I bought for my god daughter's 21st and I saw exactly the same item on the high street.

My advice would be to find what you want on the high street, note the price then goto Jewellery Catalogue and buy there. If you want ring sizes then pop into Argos and request a ring sizing tool which I believe they will give you for free.

regards,

Mike

twe

when we were in dubai my dad was negotiating.... basically he got the weight of the jewellery and the price per gram of gold at the time, and found the cost price... then the rest is basically the labour cost and profit..... we aimed at about 50% to 75% off the price of the labour/profit [not the price of gold].... we paid about £3000 for £5000 worth of stuff....

edit: Oh yeh the price varies depending on the carat of gold.... and colour.... we had both yellow and white gold at 22 to 24 carats.... [yellow is cheaper than white gold]

cheggers

The only things a jeweller wont discount is certain limited edtion Rolex sports watches.

Other than that never pay list price on jewellery or watches.

Poppy9

Jewellery is usually marked up at least 4 times so that gives you an idea of their profit margin. Ask for a free valuation certificate but remember whatever a piece of jewellery is valued at is not it's real price. If you wanted to resell it you would be lucky to get scrap price of gold and stone unless it was a sought after make or of special interest.

If you claim off your insurance company they will always contact your chosen supplier of replacement piece to negoiate a discount with them. If you then ask for the cash from insurer they will only pay you what it would cost them to replace item.

There is a lot of trust in buying jewellery so go to a well established jeweller. My OH is a diamond mounter & goldsmith. We used to run our own business and we would get sales people in with bargain gold chains etc fully hallmarked. My OH did explain to me how it could be possible to get around the hallmark system with chains as I think upto a certain weight only the clasp is hallmarked can't remember properly. Some of the items they were selling as solid gold were just heavily gold plated. Precious stones may not be what they appear also but they may offer you a certificate of authenticity.

donstermonster

Poppy9 is spot on -

Jewellers pay - £100 for a £400 item , £250 for a £1000 item and so on.

Then even with a 50% sale they still make 100% markup - haggle to your hearts content BUT start really low, AND be prepared to , and actually do - WALK AWAY if you do not get the price you hope for,
I use this tactic on so many things i buy, i will say ok thanks then i will leave it and see what price i can get elsewhere and walk away, they almost always ask me back and agree a deal. In the rare occasion they do not and i still want the item i will have a coffee and return half an hour later and say - go on then what is your final final price AND i always get a bit more off

I even get friends asking me to do their haggling for them now, i love it !!!!

Be polite, even humble

brummybloke

go to birmingham jewellery quarter there are loads and loads of independant jewellery shops so you can play them off against each other.
if it is an engagement ring then you can design it yourself at one of these shops and pay an awful lot less.

i got one made up, 18ct white gold and a 1/2 carrat diamond solitaire for £200, my insurance certificate was from a different jeweller ( wanted to make sure i wasnt ripped off) and was valued at £800.

mdb99jh

Right!

Looks like a trip to hatton gardens is in order then! Will make sure I get a certificate with any diamoinds, and will go for a serious haggle

Thanks everyone for all your help :T