Diamonds-Engagement Rings
Negotiating for Estate Diamonds
Negotiating prices is when science become art.
Most people think they know how to negotiate. Very few actually do. It's hard. It's human nature, body language, patience, control.
But most important may be the resolve to say no and simply walk away.
"But I have all this time and money invested .." That's exactly what I would be thinking if I were the seller.
Estate Jewelry Negotions
- Have the terms pre-defined, i.e., cash .. cashier's check, etc.
- Get a look at a Rappaport Report for the diamond your negotiating for. True wholesale will be about 35-40% of Rappaport, depending on the popularity of the diamond
- Go to your meeting with the having absolutely determined the top figure that you will be willing pay for the diamond.
- Start low, but don't offer a ridiculously low price. Consider 20 % lower than you are willing to pay.
- Keep the conversation low key, don't insult the person or the diamond.
Psychology of Cash
If you get to a sticking point that is within reason, but still above your limit, this is where cash can work miracles.
- Start slowly counting out $100 bills
- Pause every so often and make eye contactwith the seller
- Count out a few more banknotes, then pause
- Anytime the seller picks up the cash, the deal is done
- If the seller hasn't taken the cash when you place the last bill on the stack, make eye contact again and this time with a , "Well, too bad," expression
- Shrug
- Reach for your stack of money
If the seller is going to crack, that's when they will do it. Cash has a way of undermining the resolve of most of us.
If you have to start again with another seller, you have learned some valuable lessons.
If you have just bought yourself a diamond, it's time to start shopping for a cutter.
Re cutting or polishing you estate diamond. Re cutting estate diamonds.
Okay, I know there are folks out there who are more skilled at this than I am. Share your tips. I'll include them here with attributes.