Originally Posted by
savekenny
This has nothing to do with jewelry. I'll buy something for $7,500 if I could sell it for $12,000 as the other poster implied, any day, all day, every day. What I'm saying is, what he paid $7,500 for could no way be worth $12,000 "appraisal" value. It could be worth $12,000 sucker value, though.
A mall Jeweler like Zales or Jared sells that ring close to $12K. I know this for a fact as I priced them and then a friend of mine who owns a pawn shop took me to the Diamond District, the ring I bought actually had a better cut and clarity than the ring at Zales.
If you want the cash price, buy it, appraise it and lose it. Insurance pays appraised value as I have a schedule on that ring for close to $25K today.
Shopping at a jewelry chain store in a mall is equivalent to paying sticker price for a car IMO. Somebody pays that stores $75 K plus a month rent, guess who ?
I bought my son a new loaded 2013 Maxima that stickered for $41K for $ 29K a few months ago. I'm sure some people paid MSRP for that car.
The art of negotiation and finding deals.