MilesBuzz! - Miles for Purchase of Engagement Ring? Help!




seoulmanjr
Dec 2, 04, 3:46 pm
While I am incredibly happy to be getting formally engaged soon to a woman I love more than anything, I am hoping that someone on FT has a good idea on how I can mitigate the $6-7K hit I'm going to take on buying a lil' ol rock by at least earning miles for the purchase. Any ideas?

Much like certain airlines nowadays, I am facing a liquidity crunch and will most likely be putting this purchase on a credit card and carrying a balance of about 1/2 the value as I pay it off the remainder over the course of 6 months to a year. Unlike certain airlines, bankruptcy protection is somethng I'd rather avoid - I'm not expecting a gov't bailout. :p Putting it on a high-interest rate WorldPerks Visa or the like for the long haul wouldn't make much fiscal sense, but I'd love to find a way to earn miles for such a big purchase. I dont' care on what carrier, but I'd prefer to get 'em on NW, AA, KE, OZ, UA, or DL.

The only thing that I could think of so far is to buy the ring on my WorldPerks Visa, pay off the amount that I can with my cash on hand, and then do a balance transfer for the rest to a 0% for the first year card or something. My other ideas involved just getting a cheaper ring ( :eek: heh - not what I want to do. And by I, I mean she. ;) ) or using a reward ticket to go somewhere in Africa and smuggle a cheap stone back rather uncomfortably.

Any and all suggestions welcome!

Thanks!

peace,
~Ben~


OB one
Dec 2, 04, 4:58 pm
try www.ashford.com The prices are not cheap, but you can earn a slew of miles. I think Continental is 5 miles per dollar. I bought something a couple of years ago at 10 miles per dollar and the miles posted promptly. NW is 2 miles per dollar and $20 off orders over $199, harldy worth it for your ring. Don't know of other partners although they may exist. Check the nontravel shopping partners of each airline.

And while this doesn't solve your liquidity problem, at least you will get some miles and your pay off some idea and then transfer to a zero balance makes sense. Be careful, at 18% per year, $3000 in debt still costs $270 in interest if it takes six months to get the balance onto a low intersest card.

Otoh, welcome to the married world where you will be in debt forever anyway (surely through none of your own fault) and if you try to buy a cheap ring, you will start out in the doghouse, so you can't do that, can you ????/ :)

gleff
Dec 2, 04, 5:22 pm
If you buy the ring online through a shopping portal, you'll probably take home plenty of miles.

Ashford.com offers 5 CO miles per dollar, 2 miles in most of the other airline malls.

Blue Nile gives 1 mile per dollar at the Delta mall. Ice.com gives 3.


Doppy
Dec 2, 04, 5:32 pm
I'd recommend you shop around and find the right ring before worrying about whether the store offers miles.

CPRich
Dec 2, 04, 6:26 pm
I'd recommend you shop around and find the right ring before worrying about whether the store offers miles.

And don't let your wife-to-be ever know that how many miles you could get factored into selecting her ring.

telli36411
Dec 2, 04, 6:33 pm
It's quite a few less miles but a much better deal to shop on Blue Nile. I've been pricing the engagement rings myself last couple of months and Blue Nile is a much better product. Overall they always have the better price on a comparable diamond. You still get the Delta miles (from Andrew Crams Page) and whatever credit card miles you want and then call someone like Discover and do a transfer for a 0% life of the loan rate. If you do a google search for Blue Nile discount you can probably find atleast a 10 percent off coupon. It's a great source for diamond buying education also, I never knew how much was invloved with picking a good diamond. Good luck, hope it works out for you.

wjm7733
Dec 2, 04, 6:50 pm
I would advise using your favorite mileage earning card and then doing a balance transfer to a card with some sort of 0% introductory offer for transfers (and no balance transfer fees hidden in the fine print). There seem to be a number of these out there.

I recently received a solicitation for a Choice Privileges Hotels Visa from Bank America offering a 1.9% APR on balance transfers with no annual fee or balance transfer fees. I can't remember off the top of my head, but I am pretty sure the 1.9% is for the life of the balance... I will pay my transfer off soon, so it doesn't concern me too much. Here is a link to the online offer:

http://www.bankofamerica.com/choicehotels_site/?adlink=000002A0100069029938

The offer also included 6,000 Choice Privileges points after the first purchase, so I took it to Starbucks and purchased a coffee then put it away because interest on purchases will continue to accrue until the transferred balance is paid first. I don't use Choice Privileges but the points can be exchanged for airline miles (I transferred 5,000 Choice Privilege points for 1,000 AAdvantage miles, which took only two days to go through).

I was pleased with the BofA offer and have been happy with their customer service and website.

Congrats on the upcoming engagement (or am I supposed to say "Best Wishes;" I can never remember)!

themicah
Dec 2, 04, 7:28 pm
Get yourself a Chase Cashbuilder (http://creditcardsatchase.com/portal/site/marketing/index.jsp?pgTitle=pg_cashbuilder) card. It has 0% for 12 months on balance transfers and no transfer fee. And they seem fairly generous with the credit line as long as you have good credit.

Then buy the ring with the card of your choice (as long as it's not also from Chase) and xfer the balance.

A few pointers:

If you're transferring the balance to a card like this one that has 0% on xfers but a higher rate for purchases, do _not_ use the card to make any purchases until you've paid off the whole balance. If you make a purchase, you won't be able to pay the purchase off until you've paid off the whole balance transfer, and they'll start charging you interest on the purchase right away.
Also (this should be obvious, but just in case), be very careful not to miss any payments, or your 0% rate will go bye-bye and be replaced overnight with a rate of something like 20%. I recommend setting up an automatic billpay system to cover the minimum payment at least a week in advance every month so you don't have to worry about forgetting.
Note that the credit scoring systems look at what percentage of your credit line you're using on each card. So if you plan to apply for other credit cards (or a mortgage or other loan), you may not want to max out the credit line on any of your cards. But if you won't be needing your credit rating for a while, you can write yourself a balance transfer check to max out the 0% card and keep the cash in an ING Direct account to make a few extra dollars along the way. I did this a year ago and my credit rating was low while I had the 0% card maxed out, but once I paid the whole thing off, my credit rating immediately bounced back.


Mazel tov.

underpressure
Dec 2, 04, 7:33 pm
walmart takes visa and disover cards

gleff
Dec 2, 04, 7:44 pm
One other advantage to buying online is saving the sales tax.

So don't tell your fiance-to-be that you did it for the miles. Tell her you were able to get her more ring than you'd otherwise have been able to afford...

alamedaguy
Dec 2, 04, 7:45 pm
Check with the AA holiday shopping promotion. It looks like you might be able to get 6 miles per dollar, plus a 10,000 mile bonus for Blue Nile. But don't quote me on that. :) And congratulations!

chobby100
Dec 2, 04, 7:47 pm
If you buy the ring online through a shopping portal, you'll probably take home plenty of miles.

Ashford.com offers 5 CO miles per dollar, 2 miles in most of the other airline malls.

Blue Nile gives 1 mile per dollar at the Delta mall. Ice.com gives 3.

I understand that you have recently become engaged. As someone who is also in "the market" for a ring, just curious if you took a mileage stance in purchasing one. (In browsing your blog I've learned a great deal - thanks)

gleff
Dec 2, 04, 8:03 pm
I understand that you have recently become engaged. As someone who is also in "the market" for a ring, just curious if you took a mileage stance in purchasing one. (In browsing your blog I've learned a great deal - thanks)
I didn't buy online. I comparison shopped online, and the jeweler I purchased from beat the best price I could get on the internet. I didn't have to tell my fiance I bought her ring on a website. At least the jeweler took Diners Club. ;)

One more comment about online shopping though -- both Blue Nile and Ashford are featured retailers for the AA holiday threshold bonus
http://www.aadvantageeshopping.com/holiday/

Pay with Mastercard and you get (a) double miles and (b) these two merchants get you additional threshold miles, spend $1000 and get 10k bonus miles.

A $5000 ring at either of these merchants (paid for with a Mastercard) would get you 40,000 AA miles plus the miles for charging the item to your credit card.

Don in LA
Dec 3, 04, 12:38 am
Hate to be a heretic, but....

Don't know if the aforementioned websites (ashford, bluenile, etc.) sell products that come with GIA certifications, but that is really something you should insist upon, regardless of mileage-earning potential. Blue Nile favors the AGSL which is not as well respected, IMHO, as the GIA.

Also, at $6-7,000, while a big hit, you're not necessarily going to be buying an investment quality diamond, so when deciding which of the four cees to focus on, I heartily recommend the one that all of her friends will notice first: carat. Flawless, VVS1, and VVS2 diamonds are great, but if it's less than a carat, her friends will only see a small diamond (they're not going to be breaking out their loops to see how included it is -- they're just looking at size and setting). About six years ago, I bought mine a 1.50 carat, VS1, F color diamond with two smaller side baguettes that was more than I expected to pay, but continues to make Mrs. Don in LA happy. (Disclaimer: I got no miles for the purchase.) Also, while platinum or white gold settings show off a diamond better, that should be more a function of what color jewelry your bride to be favors.

If you can examine the specific diamond you'll be buying and be able to reject it if you don't like it, and still get miles for the eventual purchase, more power to you, but I don't know if you get that opportunity through ashford or bluenile.

Just my two carats....

And congratulations.

USA_flyer
Dec 3, 04, 5:34 am
I bought my fiancee her engagement ring earlier this year. If only I'd known about the mile earning potential :(

Anyway, a couple of other guys hit the nail on the head IMHO. Choose the diamond and setting before any other consideration but I will disagree with the above poster. Quality over quantity everytime and a reputable jeweller is also a good idea.

And congratulations!

seoulmanjr
Dec 3, 04, 8:02 am
I really appreciate all of the help. I'm definitely looking to buy the right thing rather than focus on getting miles for it - I was hoping that I could have my cake and eat it too. :) I'm hesitant to make such a big/important purchase online and was leaning toward buying the ring/stone from CostCo (really good quality and great prices - lets me get her more for less) in Delaware (no sales tax). Since CostCo only takes AmEx, I'll probably put it on an AmEx that gets points and do a balance transfer to a 0% card. I really have to spend some time looking into the stuff that you all have posted since there's a lot to consider. I don't think I thought this much about the purchase when I bought my car! :p

Many thanks for the tips and the well-wishes! :D :D :D

peace,
~Ben~

BenK
Dec 3, 04, 8:34 am
Don't worry about a few bonus miles and such. Getting an honest merchant with quality stones is much more important than a few thousand bonus miles. Some women know all about inclusions and color.

You might look at http://www.mervisdiamonds.com/ and get a good stone. A friend of mine used them and got a much better deal than he could find at a normal retail outlet. At the time, he lived in another state and had it shipped without sales tax. Not sure if that still works. If you still live WAS, you can go to their store either in Rockville, Tyson's Corner, or on L Street in town. You may need to call for an appointment. They will not try to sell you more than you want to buy and they will explain and show stones and settings in your price range. Washington Post 2004 Best place to buy a diamond. Their prices are also good. I do not believe that you will find better prices anywhere. Take the money you save, use it to buy tickets, and get status miles instead. Do you really want to buy your wife's ring at the same place you buy big lots of toilet paper? What sounds better when she's talking to her friends "He got my ring from Costco" or "He got my ring from Mervis Diamond Importers"?

Finally, they do take credit cards and they do have financing. 90 days same as cash, and others options. Check them out, even if you don't buy from them, you won't regret the experience--educational and top notch service. You will not regret it.

seoulmanjr
Dec 3, 04, 10:07 am
Don't worry about a few bonus miles and such. Getting an honest merchant with quality stones is much more important than a few thousand bonus miles. Some women know all about inclusions and color.

You might look at http://www.mervisdiamonds.com/ and get a good stone. A friend of mine used them and got a much better deal than he could find at a normal retail outlet. At the time, he lived in another state and had it shipped without sales tax. Not sure if that still works. If you still live WAS, you can go to their store either in Rockville, Tyson's Corner, or on L Street in town. You may need to call for an appointment. They will not try to sell you more than you want to buy and they will explain and show stones and settings in your price range. Washington Post 2004 Best place to buy a diamond. Their prices are also good. I do not believe that you will find better prices anywhere. Take the money you save, use it to buy tickets, and get status miles instead. Do you really want to buy your wife's ring at the same place you buy big lots of toilet paper? What sounds better when she's talking to her friends "He got my ring from Costco" or "He got my ring from Mervis Diamond Importers"?

Finally, they do take credit cards and they do have financing. 90 days same as cash, and others options. Check them out, even if you don't buy from them, you won't regret the experience--educational and top notch service. You will not regret it.

Thanks for the good advice - I'll make an appointment and go check them out! :)

Like I said to others on here before, I AM primarily concerned with getting her the best ring -- I don't think I said anywhere I was willing to compromise that in favor of miles -- I just was wondering if those two things weren't mutually exclusive.

My soon-to-be fiancee doesn't care where the the diamond was purchased (so long as it isn't a conflict diamond or something obviously) and would rather have the most bang for the buck in terms of quality and size. CostCo has very good quality stones and settings and good quality control and guarantees. We've looked at some rings there together and were very impressed with what they had for the price. She said would rather have her ring from there rather than Tiffany's if it meant that the difference was .5 carat or more for the same price.

Thanks for all of the input, FT! Keep it coming!

peace,
~Ben~

KebaNYC
Dec 3, 04, 11:39 am
Already a lot of good advice given and Costco does have good stones. I don't think anyone mentioned above but there is a book called How to Buy a Diamond by Fred Cuellar. It helps to explain everything and it helped me get a very nice diamond at a very reasonable price.

Good Luck!

Keba

steve100
Dec 3, 04, 12:21 pm
About a year and half ago, I too bought an engagement diamond ring, and considering how much I was going to spend, I must of spent 40 to 50 hours learning about diamonds and shopping for one.

The interactive diamond search at BlueNile.com is excellent, it really shows you what a difference in minor changes can make. (For example, pick a 1 carat diamond size, then just change one of the variables by sliding the bars.... You will be amazed at the price differences.).

see: http://www.bluenile.com/diamond_search.asp?basic=0&filter_id=0&track=c2m1&mod=basic

So, I used this to narrow down what 4 C's I was looking for (Cut, Color, Clarity, Carat). To me, I picked the following:
1) Color - I went with G - near colorless. To the naked eye, it looked almost perfect. By no means did I want a slightly yellow looking diamond. (Putting my wife's diamond next to other women's typical diamonds and you can really see how clear it is... Most of them had H or I)
2) Cut - This is very important, as the more perfect cut it is, the more brilliance and fire (read: sparkle) that the stone gives. I looked only for Very Good or Ideal cuts - I wanted this baby to sparkle! (and it does!)
3) Clarity - I went with anything that looked flawless to the naked eye. (Who is going to take out a microscope???). So, I went with SI2 or better. You just have to be careful as some SI grade diamonds have visible flaws. The diamond I actually got was a SI1 and 3 gemologists (from different companies) all verified that it had no visible inclusions. (The price differential to jump up to a VS grade was really high.) This is the area that I compromised the most in and didn't go near the top in the scale. As long as it looked flawless to the naked eye, then that was good enough (whereas the other C's, most of them are visible to the naked eye)
4) Carat - The most obvious one - SIZE! After I narrowed all the above down to what was minimally acceptable to me, I then went for the largest diamond that I could afford.
5) Certification - I ONLY went with GIA certs. This is the most widely recognized one, and the most stringent certification process. If you are going to spend this much money, make sure that it is GIA cert, and not one of the others.

Now, with all the data above, I then went shopping for price as I knew exactly what I wanted.

If you decide to go Blue Nile, you also have an option to get cashback (if you shop at BlueNile by clicking through ebates.com). They give you 3% cashback. Other places to look is Diamond.com (ebates.com gives 5% back through Diamond.com)

One thing that I found out is that many many diamond places all buy from the same wholesalers, and there are only a few of them. For instance - I found a diamond that I really liked on Diamond.com, and then searching on the net, I found the EXACT same diamond on 3 other websites (I know this because the GIA cert #'s were the same). The prices were all different. I then had lengthy discussions and found out a lot more on how the system works. Basically, when you order one, they call up the wholesaler to make sure it is available, and then they reserve it for you. It then gets sent to the store, who either mounts it in a setting for you or they send it to you loose (your choice).

I ended up buying over the internet and I saved a lot on sales tax. I made sure that the vendor I bought it from had a 7 day money back gaurantee. Once I received it, I immediately took it to a jeweler and had it appraised. He couldn't believe how much I paid for it - he asked me if I was a dealer as the price I paid was close to what a jeweler would pay. Buy doing it this way (and not going to a local jeweler), I really knew that I was getting a good deal and not at all getting ripped off.

If you use the BlueNile diamond selector, you can see slight changes in Clarity (for instance) drastically changes the price (and it isn't noticeable to the naked eye). So, if you the average Joe walks into a local jewelery place, you can be sure tha no matter what price and size you specify, they can find a diamond for you. The question is, is it really a good deal? I tried it with 4 local jewelery places and they wanted from 30% to 60% more than what I paid for ours by buying it online.

Good luck to you! (And a huge congrats!)

p.s - The other 'Finish' factors are also important, things like the Polish, Symmetry, Fluorescence, Girdle, Culet, etc - you should read the FAQ's on some of the websites I mention above and it explains these in more detail. Most people only consider the 4c's, but these things can be important, as well as affecting the price.

pps - Do checkout Costco - I've heard that they are descent prices as well. If you find a stone you like, make sure you click on the 'certificate' link, which as the full details as well as the GIA cert #:. Here is the online link:
http://www.costco.com/Common/Category.aspx?whse=&topnav=&cat=109&hierPath=108*&Browse=

ppps - The 'Appraisal' value should be almost double what you paid. I didn't buy my diamond at Costco, but they do illustrate this quite well. For example, this 1.1carat, VS2 cut, G color diamond WITH a Platinum band, is selling for $7600. see: http://www.costco.com/Browse/Product.aspx?Prodid=11022174&whse=&topnav=&cat=109&hierPath=108*109* It is appraised at $15,600, see: http://www.costco.com/Images/Content/Misc/PDF/845247.pdf

pppps - Since I got 3 emails on this already.... The search engine that I used was http://www.pricescope.com/ to compare diamond prices....It isn't as friendly as BlueNile or Diamond.com, but once you know what you are looking for, it is really in-depth.

Internyet
Dec 3, 04, 12:44 pm
I'm really just parroting what was said above... but felt I should offer my "me too" to the thread.

I researched engagement rings for several months (both online and off). I was able to do some extensive comparison pricing from what I saw on the online sites. This allowed me to build a Microsoft Excel pivot-table to determine where maximum bang-for-the-buck calculations. Example, all things being equal, if I adjusted the color from F to G for a certain size and cut of diamond the price differed by $X, but if I changed clarity from VVS1 to VVS2 the price differed by $Y. I spent a lot of time in jewelry shops trying to visually see what that difference made in the end result.

And, in the end I purchased the perfect ring online with bluenile.com. I felt they were reputable, priced well, and offered everything I needed. I proposed on Wednesday (11/24) and the rest is history. :D

But... Thanksgiving afternoon I stumbled across the AAdvantage shopping/Blue Nile deal and fell out of my chair in finding out that I had passed up on more than enough miles for a Hawaii round trip. :(

After several attempts to convince the better half to allow me to send it in for "resizing", I've resigned to my fate that I'll have to earn the miles via other avenues.

But seriously, the punchline of all this rambling is that you should find the place that has the ring that will make her weak in the knees and go with it. Once you've found the diamond/ring/store that suits your needs spend a little time making sure you aren't missing out on an existing miles promotion. (I obviously missed this step) But, FWIW, I wouldn't trade that exact ring and moment for lifetime AA EXP.

Good luck!

ANDREWCX
Dec 3, 04, 1:32 pm
There are several online shopping portals that you could use. Depending on your mileage preference etc you have a number of choices. See www.andrewcram.com/frequentflyer.html (http://www.andrewcram.com/frequentflyer.html) for a consolidated list of most of the major mileage program shopping partnerships.

kgsd
Dec 3, 04, 1:48 pm
Do you really want to buy your wife's ring at the same place you buy big lots of toilet paper? What sounds better when she's talking to her friends "He got my ring from Costco" or "He got my ring from Mervis Diamond Importers"?

Do any of you watch 'Everybody Loves Raymond'? There was an episode where he tried to switch out a cheap diamond in her wedding ring with a nice one, because he didn't want her to know he'd gotten her a crappy diamond when they got engaged. He replaced the existing diamond and threw out the old one. Then he discovered she'd known about it and switched it out herself shortly after they got engaged. So it turns out that he threw away an expensive diamond.

seoulmanjr, glad your fiancee isn't worried too much about where it comes from. I mean, how many people tell others WHERE the ring was purchased from?

I was able to do some extensive comparison pricing from what I saw on the online sites. This allowed me to build a Microsoft Excel pivot-table to determine where maximum bang-for-the-buck calculations.

Internyet, are you sure you're not MY husband? He makes spreadsheets for EVERYTHING. Even his fantasy football team. (Although I actually bought my own wedding ring - another story.)

steve100
Dec 3, 04, 2:06 pm
I really don't think you have to worry about buying a diamond at Costco or other not so sexy named places.

A GIA cert is a GIA cert.... As long as it is a legitimate store (and the cert. that you are getting is really the one that belongs with that diamond), you can be assured that the quality is gauranteed, no matter where you buy it. The GIA cert. is the equalizing factor here. Just make sure that what is on the GIA cert is what you really want (nothing is better than going to a local store and seeing the differences for yourself - then go and shop online). For more info about GIA and how it works, just go to http://www.gia.edu/

I never told my wife where I got the diamond.... I just gave it to her with the GIA cert (which does NOT mention the name of the retailer). I explained to her all the research I did and all the info about how diamond grading works (at this point, I knew much more than she did due to all the data I had gathered).

p.s. - I didn't buy ours at Costco, bluenile.com., diamond.com, or any of the other ones mentioned above. I DID use them for research though and found them all to be really good and competitively priced and I wouldn't hesistate to buy one at any of those places. Remember, most of the diamonds in the USA come from one place, DeBeers. Here is an except of an article:

"Diamonds were not always so popular with the American public, and they were not always so pricey. A diamond placed in a mounting on a ring has a markup of about 100 percent to 200 percent. The only reason why we pay so much more for diamonds today than for other precious gems is because the diamond market is controlled almost entirely by a single diamond cartel, called De Beers Consolidated Mines, Ltd., which is based in South Africa.

De Beers stockpiles diamonds mined from countries around the world and releases a limited number of diamonds for sale each year. De Beers produces half of the world's diamond's supply and controls about two-thirds of the entire world market, according to a Washington Post report. At times, just to keep prices up, De Beers has bought tremendous numbers of diamonds from countries attempting to inject large quantities into the market. If De Beers were a U.S.-based company, it would be in violation of antitrust laws for fixing the prices of diamonds.

The secret to De Beers' success is a marketing campaign that convinces women that they should receive a diamond ring from their fiancee and convinces young men to pay "two-months salary" for that ring to show how much their love is worth."
see: http://science.howstuffworks.com/diamond6.htm

ananthar
Dec 3, 04, 2:52 pm
The secret to De Beers' success is a marketing campaign that convinces women that they should receive a diamond ring from their fiancee and convinces young men to pay "two-months salary" for that ring to show how much their love is worth."
see: http://science.howstuffworks.com/diamond6.htm[/INDENT]

Let me second steve's note of caution : thanks to DeBeers diamond prices are about 10x higher than they would be under a free market. Diamonds are one of the most common gemstones, yet are priced the highest. And finally sythetic diamonds from Russia are hitting the market at $2500/carat and less for a near perfect diamond, any color (including the ruby red color that used to cost over $500,000/carat for naturally ocurring diamonds). This price is likely to fall to below $100/carat in the next 10-20 years. While natural diamonds can be distinguished from artificial ones (artificial ones are too perfect and any blemishes occur in a regular 3-D pattern), the price of all diamonds will go down. Moreover natural diomands (unlike other natural gemstones) are extremenly plentiful deep in the earth's crust and eventually when mining is able go deep enough they will be more plentiful than gold.

Diamonds are a horrible investment. If you must get a stone, consider a colored stone: A red beyl (red emerald) is found only in one mine in Utah (USA) is 50,000 rarer than a diamond and much rarer than red rubies or green emeralds yet costs about the same as a good quality natural diamond.

Since synthetic emeralds and rubies are already less than 5% of the cost of natural ones, I'd be real worried about being ripped off. Certain synthetic gemstones go under fanciful names that sound like natural gemstones (eg Swiss Topaz) and consumers often do not realize they are buying a synthetic stone.

The only safe jewelry investment is gold and platinum jewelry. I am told that the old testament injunction to use only a token of "unquestioned value" to give the bride, is interpreted by orthodox jews as requiring a ring made only of gold, since that is the only precious substance of "unquestioned value".

seoulmanjr
Dec 3, 04, 3:32 pm
Let me second steve's note of caution : thanks to DeBeers diamond prices are about 10x higher than they would be under a free market. Diamonds are one of the most common gemstones, yet are priced the highest. And finally sythetic diamonds from Russia are hitting the market at $2500/carat and less for a near perfect diamond, any color (including the ruby red color that used to cost over $500,000/carat for naturally ocurring diamonds). This price is likely to fall to below $100/carat in the next 10-20 years. While natural diamonds can be distinguished from artificial ones (artificial ones are too perfect and any blemishes occur in a regular 3-D pattern), the price of all diamonds will go down. Moreover natural diomands (unlike other natural gemstones) are extremenly plentiful deep in the earth's crust and eventually when mining is able go deep enough they will be more plentiful than gold.

Diamonds are a horrible investment. If you must get a stone, consider a colored stone: A red beyl (red emerald) is found only in one mine in Utah (USA) is 50,000 rarer than a diamond and much rarer than red rubies or green emeralds yet costs about the same as a good quality natural diamond.

Since synthetic emeralds and rubies are already less than 5% of the cost of natural ones, I'd be real worried about being ripped off. Certain synthetic gemstones go under fanciful names that sound like natural gemstones (eg Swiss Topaz) and consumers often do not realize they are buying a synthetic stone.

The only safe jewelry investment is gold and platinum jewelry. I am told that the old testament injunction to use only a token of "unquestioned value" to give the bride, is interpreted by orthodox jews as requiring a ring made only of gold, since that is the only precious substance of "unquestioned value".


I have been looking at Canadian diamonds (much more $$) as well as the synthetic ones (still about the same price as the natural ones at the moment where I've looked). I know that it isn't a sound "investment" but that isn't what it's about - even if it were to accrue in value dramatically, I'd hope she wouldn't decide to sell it! :eek: :p

I'm a fan of the plain platinum ring idea myself, but like steve wrote in the article above, a lot of it is about how expectations and perceptions have been built up in the US. She isnt' a shallow woman, but I wouldn't want her to feel bad/insecure not having a nice stone in her ring when her friends do if that's what makes her happy - even in the short run. No matter how silly I think it is to spend this much money on a lil' rock, it doesn't matter in the grand scheme of things. Sure, I would rather spend it on other things like weekly trips to enjoy season tickets to the Bears games and shiny rims for my car and... Dammit! (just kidding.. :D ) (mostly)

peace,
~Ben~

PS> Besides, she's going to be a doctor and make far, far more than I do someday, so in a way it *is* an investment... ;)

Doppy
Dec 3, 04, 4:13 pm
Synthetics are going to be big real soon. There are a couple companies out there working on man-made diamonds that you can't tell are synthetic without destroying them in the process.

Here's one article:
http://www.wired.com/wired/archive/11.09/diamond_pr.html

flyatlanta
Dec 5, 04, 3:28 pm
In addition to earning miles through the credit card purchase, you should consider purchasing the ring from a country with a weaker currency than the USD (are there any left?). When my colleagues from Europe visit, they often ask to go to an electronics store, and are amazed by the prices. You could at least fund a trip to Singapore or Sydney if your research shows you could get a 10 - 15% discount by purchasing in a weaker economy. Sure, there are issues to deal with (quality assurance, taxes, returns, etc.), but if you do your research, you could earn 20,000 - 50,000+ miles depending on your elite status. Not a bad start toward the honeymoon.

flyatlanta
Dec 5, 04, 3:36 pm
And don't let your wife-to-be ever know that how many miles you could get factored into selecting her ring.


If your girlfriend really loves you, she already knows and appreciates that that you are "playing this silly game." She would expect that you factored mileage-earning into such a significant purchase. In fact, how could she believe that you truly made the best purchase possible if you did not even factor these miles.

Plus, this precedent sets you up nicely to insist on a wedding reception at a hotel where you can earn points for everyone's dinner (though most hotel programs do not allow point accrual for catering events).

seoulmanjr
Dec 5, 04, 5:55 pm
If your girlfriend really loves you, she already knows and appreciates that that you are "playing this silly game." She would expect that you factored mileage-earning into such a significant purchase. In fact, how could she believe that you truly made the best purchase possible if you did not even factor these miles.

Plus, this precedent sets you up nicely to insist on a wedding reception at a hotel where you can earn points for everyone's dinner (though most hotel programs do not allow point accrual for catering events).


Yeah - and I'm pretty sure she won't complain about the pair of international first class award tickets that I've been saving up miles for.. :)

peace,
~Ben~

ChrisR
Dec 6, 04, 4:01 pm
If you can get the time away, I suggest one place for diamonds, or any jewelry for that matter.

Nathan Road - aka the golden mile.

This is where I picked up my wifes ring, and to this day I haven't even come close to finding the same deal at any website. That being said, you need to be savvy and prepare to negotiate. If your not a hustler, then stick to the web.

Chris

seoulmanjr
Dec 6, 04, 4:20 pm
If you can get the time away, I suggest one place for diamonds, or any jewelry for that matter.

Nathan Road - aka the golden mile.

This is where I picked up my wifes ring, and to this day I haven't even come close to finding the same deal at any website. That being said, you need to be savvy and prepare to negotiate. If your not a hustler, then stick to the web.

Chris


Interesting advice - I'm heading to mainland China in March for 10 days or so and could maybe give myself a day there on the way home. Did you declare the ring to US customs coming back (sorry - didn't see a loc. attached to your name, so I'm assuming US since statistically it's probable on FT)? If so, what'd they charge you? Any safe, legal ways (or defensible pseudo-legal ways ;) ) around that if there was a big fee?

I've shopped for jewellry in Hong Kong before (black pearls) and don't mind the hustle/bargaining at all. I'd just worry about getting duped because I don't know enough as much about the diamonds themselves as I do pearls. I am a bit wary of spending so much $$$$$ on a ring from the PRC (essentially) where I won't be returning for quite some time and where I have very, very little legal recourse if I get screwed. I'd appreciate any advice or extra info you could give me either in this thread or over PM/email. Thanks!!!!

peace,
~Ben~

steve100
Dec 7, 04, 7:47 am
Unless I was a diamond expert and could verify what I was buying was what they were really promoting, there is no way that i would spend that kind of money in China on an Engagement ring.

After all the studying I did, if you put several diamonds down in front of me, there is no way that I could tell the difference between many of them. Just slight changes in color (say from E to F), or Clarify (VS1 to VS2) can bring HUGE price differentials. In my example I just gave, the human eye can not see a difference (unless you are using a microscope and you know what you are looking for).

What if you get it home and have it appraised and it turns out to be lower quality then they told you (or even worse, a fake diamond). You have absolutely no recourse. Also, I don't think that vendors abroad can provide GIA certificates. (I could be wrong about this though)

That is why I bought it on the 'net, with a credit card, and with a company that has a written/stated return policy. That way, after I got it, I had it appraised. If there were any problems, I would just return it to the vendor, and get my money back (and if they refused, I would then dispute it with the credit card company, and if that fails, I always have the court system). Buying it from China (or anywhere abroad for the matter), you have none of these protections.

Is it really worth the few potential dollars in savings?

ChrisR
Dec 7, 04, 12:05 pm
Damn, I had a long reply typed out and my IE window bombed for some reason!

Anyway, here is the highlights of the reply.

I wouldn't have any fear of getting duped in HK by a reputable dealer. Nathan road is known worldwide as a mecca for luxury items, and the reputation didn't come without tight government regulation and shops being on the level. We are not talking back-alley stalls here, but shops that display probably 10 million USD worth of stuff just in the front windows.

I did not declare anything to customs - nuff said.

Was in HK on business staying at the Mandarin Oriental, which is just a tube/ferry ride away from Nathan Road. Had no pre-intentions of ring shopping. Had been living with my now wife for about 5 years and getting married was more about planning the ceremony and timing than decision. Getting a ring of the size/quality I wanted for an unmatched price was just something I was planning on getting when the opportunity arose.

Had previously set a goal of getting a 3 carat ring, which would definately have the "wow" factor, but not be obnoxious.

Found a beautiful 3.04 round carat ring they were asking 150k HKD. The guy asked how I would pay if we came to a deal I told him AMEX. After a phone call to AMEX to let him speak to the rep who assured him the charge would go through, my bargaining power went through the roof! He had to phone the owner after I haggled with him for an hour or so, and we settled on a price of 120K HKD (about 15k USDat the time), which he seemed to get yelled at over - lol.

I looked over the stone with a couple high power loops for about 30 min to make sure the setting was not hiding anything. There was no gem cert, but it did come with a cert from the store stating a grade, which they are bound by local law to provide, and the diamond has to be at least of that quality. The cert really didnt mean anything to me, I just wanted to make sure I looked at the diamond and liked it. Kind of like with rare coins - you are not buying the "holder" (or cert), you are buying the diamond.


Needless to say, I brought the ring home and presented it to the wife and she was more than pleased. She of course had to get it looked at by a few jewelers, which only made her feel better when even the jeweler told her it was spectacular. It has REPLACEMENT COST (not "retail value") appraised for about $25 and $30k. And she was told by multiple jewelers that it was a $20-$25k stone for them.

It was graded by a GIA certified appraiser as VS1 clarity, Excellent Cut, and color of I/J.

So this was about 4 years ago. YMMV.

BTW - and this is one mans opinion, but if I was listing how I would choose a diamond I would do it like this -

Size FIRST! Women don't carry around certs or care where a diamond was bought. When someone says they are engaged, women want to see the ring, and size is king - no doubt.

Clarity - make sure the thing isnt milky, if it is really clear, a little lower color will not hurt the stone. My wifes ring is dead clear, and in most light it looks 100% white. If you are a diamond person, you can see the slight yellow tint in certain lights - but 99% of people wouldn't see it. If the diamond is SI or worse, you will probably see a speck or more in the stone, which I think is really unattractive.

Cut - I did see some ugly cut stones. A good cut can make up for some physical flaws.

Color - Put the floor at K, but evaluate the stone on sight, not a grade. Depending on the cut, the color will be more evident. The reason I have color lower is this seems to jack the price up, especially in the US, quite a bit. I think it is the #1 more oversold thing on a diamond. In the US you will see D and E color diamonds with I or SI clarity selling for huge money, which I personally think is a US thing. It seems like the US is the dumping ground for inclused stones. In HK I had a hard time finding stones that were not at least VS2 rated. Clarity was MUCH more in the limelight overseas.

In the end I am more than happy with how things worked out, and my wifes ring is definately a showstopper that still gets noticed all the time. She gets embarrassed about it, but I am sure she wouldn't trade down!

Chris



Interesting advice - I'm heading to mainland China in March for 10 days or so and could maybe give myself a day there on the way home. Did you declare the ring to US customs coming back (sorry - didn't see a loc. attached to your name, so I'm assuming US since statistically it's probable on FT)? If so, what'd they charge you? Any safe, legal ways (or defensible pseudo-legal ways ;) ) around that if there was a big fee?

I've shopped for jewellry in Hong Kong before (black pearls) and don't mind the hustle/bargaining at all. I'd just worry about getting duped because I don't know enough as much about the diamonds themselves as I do pearls. I am a bit wary of spending so much $$$$$ on a ring from the PRC (essentially) where I won't be returning for quite some time and where I have very, very little legal recourse if I get screwed. I'd appreciate any advice or extra info you could give me either in this thread or over PM/email. Thanks!!!!

peace,
~Ben~

Dirk1609
Dec 7, 04, 7:32 pm
I have a whole set to sell. Its all like new with all certs receipts ect. And its all platinium. There are two wedding band and the ring. Shoot me an email. No miles but it will save you a fortune

Ring pic (http://home.comcast.net/~d.hobkirk/Ring_diamond.jpg)

Diamond cert (http://home.comcast.net/~d.hobkirk/cert.jpg)

seanthepilot
Dec 8, 04, 10:39 am
just spotted in the Air Canada forum... miles for rings

http://www.flyertalk.com/forum/showthread.php?t=378322

All the best too!

kersie
Dec 8, 04, 10:42 am
Congrats on the upcoming engagement (or am I supposed to say "Best Wishes;" I can never remember)!

Congrats to the guy, best wishes to the woman. Never knew that until I got engaged recently and had it explained to me by a friend....

I would strongly urge against buying online. While you can get all of the "details," there are certain diamonds that just look better than others because of some factors that come together to amke it gorgeous.

Also, I disagree with the comment above that size is all that matters. It depends on your future fiance, and what she wants. I happen to have small fingers, so a huge diamond would look ridiculous. Beyond that, the quality is far more important than me -- because of it's AMAZING color and good cut, my diamong puts off a lot more sparkle than a lot of my friends' with bigger diamonds, making it look better. At the $7-$8K range, if you're shopping within the US, you probably can't get anything larger than 1k or so with good quality unless you have massive connections.

MarshKing
Dec 8, 04, 1:39 pm
If you are interested in learning more about choosing a diamond, I suggest having a look at www.pricescope.com. They have forums on there with friendly people who are more than happy to share their expertise (just like Flyertalk).

USA_flyer
Dec 11, 04, 11:14 am
I just remembered something. When I was purchasing a ring for my fiancee, the Jewellers had an ISEE2 which is a mechanical test for diamond quality.

-The camera scans your diamond and sends 15 images per second to an iMac computer which processes 48 different lighting positions during its calculations.

-Objectively evaluates the amount of light returned from the diamond.

-Shows the degree of contrast between the 57 facets and quality of each diamond’s brilliance, scintillation and the symmetry.

-Compares different diamonds under absolutely identical conditions and shows that not all diamonds play with light in the same way.

Not all diamonds of the same colour and clarity behave the same in this machine so you may find a lower grade diamond behaves better with the light than a higher grade diamond. The best thing about it is, it's not subjective and I really liked that. If a diamond scored over a certain number it carried a premium because it would be more brilliant than another one of the same grade. Anyway, it's just something *else* to adle your brain over.

Disclaimer, I have no financial interest in any jewellers or the producers of this machine.

StSebastian
Dec 16, 04, 1:59 pm
Plus, this precedent sets you up nicely to insist on a wedding reception at a hotel where you can earn points for everyone's dinner (though most hotel programs do not allow point accrual for catering events).

My friend (who is not a mileage junkie) managed to pull that idea off via iDine on an airline credit card and pay for the reception in chunks over several months (since the establishment had a monthly limit on iDine spending). I think they ultimately got around 25K miles for that event.

Analise
Dec 17, 04, 2:44 pm
Flawless, VVS1, and VVS2 diamonds are great, but if it's less than a carat, her friends will only see a small diamond (they're not going to be breaking out their loops to see how included it is -- they're just looking at size and setting).

...

Just my two carats....

Here are my two carats....if her friends are as shallow as those described above, I hope you see them rarely. :eek:

Don in LA
Dec 18, 04, 7:29 pm
Oh, Analise, I do live in LA...everyone here is that shallow. ;)

Dyanne
Dec 18, 04, 8:19 pm
If you REALLY want to get turned off the diamond industry, read Diamond: The History of a Cold-Blooded Love Affair by Matthew Hart. Actually, since you're about to buy a ring, DON'T. When we were buying my engagement ring many years ago -- in 1992 our very high quality 1.43 carat ring cost just less than $3,000, a steal even then but painful on a resident's salary -- I thought my husband was going to lose his mind. This is a man who does not have a single fear of walking into negotiations at a car dealership, or buying a ridiculously expensive home (now, not then!), but buying a diamond shredded every bit of trust and competence from him. Don't overanalyze it. The market for diamonds is what it is, and even though you'll probably be getting ripped off in some way, it's OK. Everyone does, whether they know it or not.

I've been looking for 2-3 carat each (big difference, I know!) solitaire earrings. I'm really torn between 2, which is "believable," and 3, which is stunning but might be interpreted by some people as having been bought at JC Penney's.

Anyhoo, one place I found that is absolutely above board and very well-priced is (drum roll...)

Costco.

I don't know what you're looking for in a ring, but they have both solitaires and smaller diamonds with some bling on the sides. I prefer a simple round Tiffany-style ring with nothing on the side. If I'm getting a diamond, I don't want people to get distracted by the little .5 carat numbers on the side. Just me.

You go to their website (http://www.costco.com), choose "Jewelry," choose the diamond(s) and setting(s) and order it. It's shipped within 5 days. My Costco store manager said there's an option to ship it directly to the store, where they hold it in a secured area. You can look at it without paying for it yet, according to him. If you like it, you just pay for it like you would a 3-lb can of tuna. If you don't, you don't have to buy it or pay anything. The direct purchase option is described below.

Here's one ring I found:

"A remarkable*2.28 ct round brilliant cut one-of-a-kind diamond ring set in a platinum tiffany setting.

Only One Available
$29,999.99
Item # 859189
Shipping & Handling: $115.37

Weight:*2.28 ct
Clarity: Very Slightly Included (VS1)
Color: Near Colorless (G)
Available in size 7; sizeable to any size (Costco does not provide this service)

This diamond comes with a Summation Of Appraisal certificate from the International Gemological Institute (IGI). This is to certify that the diamond described above is genuine, and has been independently examined in the laboratories of IGI. To view this certificate, with detailed information regarding the clarity, culet and color, click here*

Also included with this diamond is a GIA (Gemological Institute of America), Gem Trade Laboratory, Diamond Grading Report. Gem Trade Laboratory is a division of GIA Enterprises, Inc., a wholly owned subsidiary of the nonprofit Gemological Institute of America, Inc. This describes the characteristics of the diamond at the time of the examination based upon 10x magnification.

Standard shipping is via UPS insured. Signature is required. The estimated delivery time will be approximately 5 business days from the time of order.

When returning items containing a 1.00 ct center diamond or larger, Costco warehouses may require additional time to verify the diamond, in which case a refund will be approved upon positive verification. This process may require two to five business days."

seoulmanjr
Dec 19, 04, 1:40 am
Oof - she'll have to keep that 2.28 ct affair in her dreams for now... :eek: I'm 23 and not pulling down that kind of coin yet. :rolleyes:

We've looked at the rings in Costco and been really impresssed. I am just holding off so that I can educate myself further and see what shakes out in Hong Kong and at a wholesale jewellery show in DC before I get my WP Visa line of credit extended and a 0% balance transfer CC lined up...

Many thanks again for all the advice here on FT!!! Keep it coming! :D

peace,
~Ben~

chobby100
May 19, 05, 9:13 am
Well after finally getting engaged I post my 2 cents here. I did a ton of research. Pricescope.com is the site to learn everything you ever wanted to know about diamonds. The basic premise of the site is that cut can make a huge difference in what to buy. In addition, the retailers that you can buy from are much much much cheaper than convetional retail stores and offer an additional discount (or many do) for pricescope readers. They also have a very interactive forum like FT. (I know this is repeating info in this thread but I can not emphasize how great that site is to educate). I was able to get a much bigger and much better stone than I thought b/c their retailers were much cheaper. I went with an AGS cert as they tend to be much more conservative in their grading. I also had a sarin report done and used those numbers in the HCA (Holloway Cut Adviser) prior to having the stone shipped to me. I then immediately took it (prior to having it set) to an independant gemologist (doesn't sell anything but the appraisal service, none of that I could have gotten you a better deal) who looked at the stone without the AGS cert, to make sure it was what it was. I also, of course looked at it myself and under a loupe. In general most of the retailers on pricescope will beat your local jewelry store by (and I'm guessing) 10 - 20%. They will be much more cheaper than Tiffany or Harry Winston. (I got a kick out of running circles around the diamond specialist at my local Tiffany). Blue Nile is on pricescope (ie if you search for diamonds - they will show up). Generally they are more expensive, but are probably the only retailer to offer miles. Continental is offering 5 miles/$1. AA 3 miles/$1. Others one mile and I belive they particpate with a few rebate places.

Costco didn't even come close to the price of these retailers when I looked.

steve100
May 19, 05, 3:58 pm
Way to go chobby100! I too am in Boston and did almost the exact same thing as you (see my previous post). I looked at regular jewelry stores, Costco, diamond stores in NYC, BlueNile, etc. I ended up using Pricescope.com was excellent and I found a great (no, take that back, amazing) diamond for my girlfriend (now wife).

JohnnyP
May 19, 05, 7:06 pm
This may be a silly question, but are diamonds cheaper in other countries, like SE Asia? When I was there, I noticed a lot of jewelry stores (in Singapore and around Thailand) toting cheap diamonds. I would imagine, however, that it would be difficult to certify the authencity of a diamond unless you were an expert.

Anyone have any thoughts?

JohnnyP
Jun 17, 05, 12:03 am
bump... anyone?

Boraxo
Jun 17, 05, 1:57 am
There is so much bad advice on this thread I don't know where to begin or really have space to address everything. But having just been a buyer I would offer the following:

(1) If you don't do anything else, go to pricescope (http://pricescope.com) for sound advice on buying a diamond (yes I know it's referenced above - one of the few helpful tips).

(2) A diamond is a big big investment. The most important thing is to find a trustworthy jeweler who will sell you a certified stone at a fair price. good heavens I love miles as much as anyone but they are really secondary at best. 20 years from now those miles will be spent, but that diamond is forever and you will be pissed if you get stuck with a crappy one because you wanted a few thousand miles.

(3) As is true with most things, you get what you pay for. If you go to costco, you will get a costco quality diamond. Really. It will be a crappy cut and worth every penny you paid - but no more. If you go to Tiffany you will get an excellent diamond but pay a premium for the blue box. Your best bet is a reputable local jeweler. If you live in a small town and don't have one, then perhaps you should consider bluenile or ashford, but they would not be my first choice.

(4) While online merchants such as bluenile are reputable, online shopping is is NO substitute for shopping in person. You really can't see the subtle differences in cuts or color on a screen, and the inclusions are highly magnified and therefore a bit overstated. When you shop in person, you may find (as I did) that inclusions are less noticeable but color is very important. Or vice versa.

(5) Do not buy overseas. You will have no recourse if you get shafted (which is highly likely) and the prices are not any lower as diamonds are traded worldwide. If it looks too good to be true, you are probably getting a diamond that is not what it appear, usually not as good a cut, but possibly deceived on color, clarity or one that has been modified (laser filled).

(6) If you remember nothing else, the most important item is the CUT. That determines how much your diamond will sparkle. Everything else is secondary (provided of course that you don't go with too low of a color or clarity). The advice to go for the biggest carat you can afford is laughable. How will your wife feel when her big diamond looks yellow and dull next to her friends? Yes, it may look great in the store, but it won't look great by comparison if it is poor quality. Like most other things in life, it pays to buy the best quality you can afford.

Good luck!

And to those who are curious, I found that blueniles prices and quality were excelllent, but they could not beat the price or service of my local dealer. And yes, I charged it on my Citi AA card. Why not get the miles? :cool:

TXNancy
Jun 17, 05, 10:31 am
It appears that my husband was not the only man that needed a little education on buying a rock for his better half. Forget about the miles. Let’s not let the tail wag the dog.

1. Find out what she wants. Is she into the biggest rock possible? Does she like antique jewelry? Does she want to design her own ring? Jewelries are very personal. She may not even want a diamond.
2. Decide how much you want to pay.
3. Go to several local jewelers and get a good idea of what you can get for what you are willing to pay. Make sure you understand the trade off between the size and quality.
4. Your choice may be more limited on the antique jewelries. For antique jewelry find the best deal you can from an antique dealer or jeweler. Make sure they will let you appraise the jewelry before you finalize the transaction.
5. For “regular” rings, find a diamond (or stone) wholesaler. You will always get a better deal buying diamonds separately and have them mounted by a trust jeweler. Too bad you are not in Houston, or I can recommend a good one.

A reputable jeweler or wholesaler will let you appraise the merchandise before you finalize the purchase.

Congratulations!

YYCOllie
Jun 18, 05, 10:10 am
Could you purchase on your credit-card, and then get a line of credit through your bank (prime-plus 1-ish%) to pay off your credit card? :)

chobby100
Jun 20, 05, 11:05 am
In response to Bortaxo's post I would agree on most points and can not stress how important Pricescope was (and is as we look at the bands). It really is the cut that matters. i can make the diamond look so much more brilliant and larger.

But, I'm not sure the costco diamonds are any worse (although I would not buy it mounted first). The same goes for online dealers.

This is what we did. We first went to standard B&M jewlers to figure out what she wanted. Then we did some pricing. Then I spent far too much time on pricescope so I undertsood the market and exactly what I was looking for. Then we shopped around. When it was an online dealer I made sure that they had a generous return policy (at least 10 days). Then I took the diamond to a independent appraiser who did not sell jewelery (none of that "well it's nice but I could sell you ..."). While I purchased the stone from an online jeweler, it was independently appraised by a GIA appraiser (who also happens to be a professor of gemology). Then i had the stone set by a local jeweler who i shopped at first. They could not even come close to touching the price for similar stones.

Note: my approach was made mcuh easier by the fact the I was looking for and bought a round brillliant solitaire. With some funkier design (round solitaire in a platinum setting is not funky by any means) it may make the process more difficult.

ehallison
Oct 7, 05, 1:20 pm
I wanted to share my recent experience to stop anybody from making the same mistakes I did. We found a fabulous diamond at Blue Nile for 1/3 less than a local jeweler would charge - $18k vs $27k. I decided to triple-dip on the miles/points by a)using my Starwood card, b) buying gift certs via links to giftcertificates.com, and c) redeeming the GCs at blue nile via Marriott rewards link.

The first problem was the credit limit on the Amex. We asked for an increase but because we asked for >$25000 it had to go through a review so it took 3 days. So keep that in mind if you have a specific card you want to use - ask for your credit limit increase before you find a diamond/ring that you must have today. :)

It got worse when I started dealing with giftcertificates.com. I was willing to deal with the $250 max, but I also had to deal with a $2499 per order max for earning points on the GCs. After placing 6 orders for a total of $13700 I decided that was enough (it was a total of 56 $250 and $100 GCs) and that I would pay the rest to Blue Nile directly with the *wood Amex. GC.com immediately put all my orders on hold for "review" but meanwhile, a hold for $13700 had been placed on my Amex. After multiple phone calls & e-mails to both GC.com and Amex over 3 days to get the order approved I was finally told this morning that it was approved. Then an hour later I was called by gc.com to say they just weren't comfortable with an order that size, despite the authorization from Amex, and they would cancel my order and release the hold on my card. :confused:

So I finally got to order my diamond today after about 10 days of dealing with Amex and then GC.com. I got fewer points than I wanted, but still quite a few - 50k Marriott Rewards points and >18,000 *wood points. It is on its way and will be here Monday! :D

amarain
Oct 7, 05, 1:33 pm
Personally, I would be disappointed to find out that the man I'm about to marry would make such a huge purchase and not get ANY miles for it. But then, that's a FT lady talking.

tsw
Dec 7, 05, 1:50 pm
So I finally got to order my diamond today after about 10 days of dealing with Amex and then GC.com. I got fewer points than I wanted, but still quite a few - 50k Marriott Rewards points and >18,000 *wood points. It is on its way and will be here Monday! :D

congrats on getting so many pts... i am not real sure about the value of the pts. you received. but bluenile is definitely one of the more expensive online jewelry sites. then again, maybe the points you earned is more than the overhead :)

steve100
Dec 9, 05, 10:12 am
remember to checkout http://www.pricescope.com/ many of the exact same diamonds that are found on BlueNile.com can be found in this diamond pricing database as well. (The GIA certs and other sometimes match exactly with BlueNile.com)

seoulmanjr
Dec 9, 05, 10:58 am
congrats on getting so many pts... i am not real sure about the value of the pts. you received. but bluenile is definitely one of the more expensive online jewelry sites. then again, maybe the points you earned is more than the overhead :)

I searched around and called a lot fo places, etc, etc before buying in the end from bluenile.com. In the end, they were the only one's with the exact setting that I wanted and were comprable in price for jsut the loose center stone, too.

You can call them and ask them to pull the stone and give you and eye-clean report as well as send the sarin reports along. If you're not happy with it when it comes and you get your hands on it, you can return it without much hassle.

I ended up getting something *perfect* from them that actually exceeded my expectations and even though I had to work out details of my order over the phone, the phone rep worked with me on doign the order online and then her modifying it so that I could still get AA miles for it through their online mall. It was extra work for them, but great customer service. The miles didn't play into my decision of where to buy, but I looked at them as just a little bonus for me.

peace,
~Ben~

tsw
Dec 10, 05, 4:58 am
You can call them and ask them to pull the stone and give you and eye-clean report as well as send the sarin reports along. If you're not happy with it when it comes and you get your hands on it, you can return it without much hassle.


hi ben,

it's great you got the *perfect* ring you wanted!

fyi, it's unlikely that they pulled the stone and gave you an eye-clean report... since most of the stones are inventory lists of stones from other people. unless you happened to pick a stone they had in stock... but i think bluenile tends to not buy inventory... none of the web sites can afford to buy inventory and sell at those prices. they probably just looked at the report to tell you if it was "table clean" or not.

anyway, still good service is what's important.

seoulmanjr
Dec 10, 05, 9:18 am
hi ben,

it's great you got the *perfect* ring you wanted!

fyi, it's unlikely that they pulled the stone and gave you an eye-clean report... since most of the stones are inventory lists of stones from other people. unless you happened to pick a stone they had in stock... but i think bluenile tends to not buy inventory... none of the web sites can afford to buy inventory and sell at those prices. they probably just looked at the report to tell you if it was "table clean" or not.

anyway, still good service is what's important.

While they don't have inventory in stock, they will put in a request for the guys in NYC who do hold the stone to pull it from the vault and report back to them. Twice, requesting this yielded information that wasn't available on the report -- which is available online for you to see anyway. Of the four times I made a request for an eye clean report, twice it took roughly 48 hours, once 3 days (they explained that since it was over Yom Kippur, the guys with the stone wouldn't be available to pull it from the vault until after the holiday), and once they had an eyeclean report on hand since it had previously been requested by another customer for that particular stone.

I think that its good to be cynical when making a big purchase like this and buying a diamond, but the folks at bluenile really do their best to help you and be forthright. Twice, I had a CSR tell me not to buy a stone that I was interested in since it probably wasn't what I was looking for in terms of quality/appearance. Since they don't work on commission, I have less fear of being bull....ted than when I talked with other vendors.

I ended up getting a round cut / 1.1 ct / F / SI2 (looks like a VS1 - only flaws are twinning wisps not visible w/out a microscope/UV light). :cool:

peace,
~Ben~

tsw
Dec 10, 05, 8:43 pm
I think that its good to be cynical ...

hi ben,
not being cynical at all... my gf's family manufactures jewelry... that's why i know the business ;)
i was just noting that the bluenile guys can't pull the stones, while the suppliers can. but not all online websites will go thru the trouble like bluenile.
so kudos for them on good customer service.

seoulmanjr
Jan 6, 06, 7:13 pm
Dear seoulmanjr,

Thank you for shopping with the AAdvantage eShoppingSM program. The AAdvantage® miles have successfully posted to your account.

Merchant: Blue Nile

Ship Date Miles
10/27/2005 23,736
Total Miles Posted: 23,736

I was starting to worry about the miles actually posting since it's been exactly 10 weeks since my purchase and the online malls can be a bit notorious for having problems with crediting miles, but AA & BlueNile came though before I had time to give them a call anyway! Woohoo!

And she loves the ring. So everyone's happy. :D

peace,
~Ben~

johnep1
Jul 28, 06, 1:42 pm
Does AA still give miles for shopping at blue nile? I can't find it on the AA site.

ANDREWCX
Jul 28, 06, 2:29 pm
Does AA still give miles for shopping at blue nile? I can't find it on the AA site.

Yes - 3 miles per $1 (through AAdvantage eShopping) - see http://www.rewardsdb.com/online/US/Jewelry.html for all the offers for blue nile and similar

johnep1
Jul 28, 06, 2:51 pm
Yes - 3 miles per $1 (through AAdvantage eShopping) - see http://www.rewardsdb.com/online/US/Jewelry.html for all the offers for blue nile and similar

Thank you very much for that link. I couldn't find it on the aa.com so this will get me quite a few more AA miles towards lifetime gold that I wouldn't have gotten otherwise.

chexfan
Jul 28, 06, 3:46 pm
Yes - 3 miles per $1 (through AAdvantage eShopping) - see http://www.rewardsdb.com/online/US/Jewelry.html for all the offers for blue nile and similarFYI
Merchant:
Exclusions: AAdvantage miles are not available on purchases made with coupon or discount codes, and apply only to the first $12,500 of the total purchase price. Gift certificates are not eligible to earn AAdvantage miles.http://www.aadvantageeshopping.com/details.jsp?mrc=63

GeoGirl
Jul 28, 06, 3:58 pm
Just caught this thread and read the first few posts and had to say this from the other side of the fence:

How do you know you're asking a FlyerTalker to marry you? The dialogue goes something like this:

Him: Will you marry me? [producing beautiful ring of excellent size, cut, clarity, and color]

FT Her: Did you get miles when you bought that?

Him: Um...what? No. I bought it at Tiffany.

FT Her: Oh. Well. Hm. Can I think about it?

OR, in our household, it might go a little something like this:

Him: Will you marry me? [producing beautiful ring of excellent size, cut, clarity, and color]

GG: Did you get miles when you bought that?

Him: But of course. I earned miles going through the shopping portal*, bought it during a triple miles bonus promotion, using a miles-earning credit card, which I opened and got 25,000 miles with the initial purchase.

GG: Oh, DARLING! [throwing arms around him] You had me at triple miles bonus promotion! Of COURSE I'll marry you!

* Obviously learned from The Great Circuit City TV Purchase of 2005, in which my SO made a significant online purchase without using the shopping portal, only to subsequently return it in favor of a completely different TV that, by coincidence, netted us miles in the purchasing.


:D :D :D

GG

psyflyer
Jul 30, 06, 5:50 pm
dont you think your not paying for thise miles/? most likely if you shopped around a bit more youd find a bigger rock for your buck...

KMHT FF
Jul 31, 06, 4:04 am
There are definitely miles for mortgages out there - put the money into one of those instead of a stupid ring.

jerry crump
Aug 1, 06, 3:03 pm
Buy a ring at a pawn shop. You can forget about all the joys of single life (miles and sex. they dissapear when you get married)



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