Why do people say not to buy a diamond from a mall store?

[Demon-Xanth]

In othernews, MrsSkoorb just changed her name to Mrsdullard!

 

[dullard]

Originally posted by: Demon-Xanth
In othernews, MrsSkoorb just changed her name to Mrsdullard!

Damn, the old Mrs. Dullard sure won't be happy.

Are you ready to move to Nebraska, woman previously known as MrsSkoorb?

 

[Jumpem]

Originally posted by: DWW
Don't buy a debeers diamond. You will support terrorism and artificial inflation of them (debeers has warehouses full of them...diamonds aren't rare). Please buy Canadian diamonds. Although they are not worth as much as the type you get which are imported from south america, africa etc, they are not blood diamonds at least.

I'm aware of the Debeers cartel. However, consumers aren't given much of a choice when it comes to diamonds. I wish lab made diamonds for jewelery were available in the mainstream. They're still in their infancy.

 

[Fingolfin269]

Question for those of you who say you saw a ring for $X in the mall. Did you bother to haggle? Or did you assume that the marked price was the real price?

 

[Jumpem]

Originally posted by: Fingolfin269
Question for those of you who say you saw a ring for $X in the mall. Did you bother to haggle? Or did you assume that the marked price was the real price?

I've heard it's relatively easy to get a couple hundred or so off by mentioning that you can get something comparable at another store in the mall.

 

[Fingolfin269]

Well, that's relative. You might be able to get a couple of grand knocked off of a $7k ring.

 

[bozack]

Originally posted by: dullard
It all depends on what value you put on the ring. A $500 ring can be insured for $100, $200, $5000, $50000, etc. Just like life insurance, the amount you get when you claim is user chosen. Note: thus new2AMD's quote is meaningless as the insured amount is arbitrary.

I personally have a policy that covers $2000 of any jewelry loss from State Farm (not just one specific item). That is exactly what I paid for my wife's engagement ring after tax. If I remember right it costs less than $2 a month and I get a discount on car insurance for having more than one thing insured. Thus I consider it a free thing.

Sorry but this is crap, a $500 ring can be appraised at $50,000 and yes you can pay $50,000 worth of insurance premiums on it, but good luck getting the company to cut you a check for 50 large when you lose it or it is stolen, they will just opt to replace your ring with one of similar quality which will cost them less than the $500 you paid...while it is better to slightly inflate the value to account for price fluxuations (especially with luxury items) grossly overestimating the value is a crime and insurance companies are not that stupid.

 

[Jzero]

Originally posted by: Fingolfin269
Question for those of you who say you saw a ring for $X in the mall. Did you bother to haggle? Or did you assume that the marked price was the real price?

When the guy at Helzberg Diamonds didn't have any loose diamonds to show and put them in some sort of tv microscope to show them magnified on a monochrome display, I laughed and got the heck out of there.

 

[isekii]

Originally posted by: bozack

Originally posted by: dullard
It all depends on what value you put on the ring. A $500 ring can be insured for $100, $200, $5000, $50000, etc. Just like life insurance, the amount you get when you claim is user chosen. Note: thus new2AMD's quote is meaningless as the insured amount is arbitrary.

I personally have a policy that covers $2000 of any jewelry loss from State Farm (not just one specific item). That is exactly what I paid for my wife's engagement ring after tax. If I remember right it costs less than $2 a month and I get a discount on car insurance for having more than one thing insured. Thus I consider it a free thing.

Sorry but this is crap, a $500 ring can be appraised at $50,000 and yes you can pay $50,000 worth of insurance premiums on it, but good luck getting the company to cut you a check for 50 large when you lose it or it is stolen, they will just opt to replace your ring with one of similar quality which will cost them less than the $500 you paid...while it is better to slightly inflate the value to account for price fluxuations (especially with luxury items) grossly overestimating the value is a crime and insurance companies are not that stupid.

What if it's a family heirloom ?
They couldn't possibly replace something like that since it would be passed on from previous family members.
Then would they cut the check for 50k ? If it was insured for that amount of course or would they give a fair market value for "said ring" ?

 

[Fingolfin269]

Originally posted by: Jzero

Originally posted by: Fingolfin269
Question for those of you who say you saw a ring for $X in the mall. Did you bother to haggle? Or did you assume that the marked price was the real price?

When the guy at Helzberg Diamonds didn't have any loose diamonds to show and put them in some sort of tv microscope to show them magnified on a monochrome display, I laughed and got the heck out of there.

rofl