Dear Orchidians, I work with a coin dealer who is also a G.I.A.
Graduate Gemologist. When I have a customer who needs a specific
stone, I call and find out if he has what I am looking for. Usually
in the .25 to 1 carat sizes are most available.
I take the stone to my appraiser who also is a G.I.A. Graduate
Gemologist and find out the color and clarity, what he would
appraise the stone for wholesale and the insurance replacement value.
In my experience, insurance replacement value is usually the lowest
retail price that a stone can be bought for if the customer searches
around. This is a fact and provable. This gives me an edge in a
very competetive market.
When my coin dealer makes a good buy, I can get a stone for
1/2 the wholesale price. I mark it up several hundred dollars below
the insurance replacement value. I tell the customer what I did. I
use my knowledge and expertise to save my customer money, and I am
virtually guaranteed a sale if my customer shops for a better price
for the same color and clarity.
When it is common knowledge that diamonds are sold 30% back of Rap
for Vs and Si stones of good make, 10% for ideal cut, there is a
basis for comparison.
"Luck is knowledge and skill applied." And Peter Rowe, it was a
pleasure to meet you and spend a few minutes talking with you at the
SNAG conference. Richard Hart in Denver