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Posted: 12/19/2005 5:47:39 AM EDT
I know you need to haggle but I just don't know how much. What is a general rule of thumb for markup? For example, if you're looking at a $1500 ring or bracelet, is it reasonable to get the store down to $1000?



Link Posted: 12/19/2005 5:51:28 AM EDT
[Last Edit: 12/19/2005 5:52:15 AM EDT by olyarms]
$1500-$1000 is quite a lot.
Not all stores will haggle. Can you haggle the with the grocery store to get that bunch of parsley $0.30 cheaper
Link Posted: 12/19/2005 5:54:35 AM EDT

Originally Posted By olyarms:
$1500-$1000 is quite a lot.
Not all stores will haggle. Can you haggle the with the grocery store to get that bunch of parsley $0.30 cheaper



True, but you never know until you ask. Mark-up on jewelry is usually very high. Much depends on the store and the area you live in.
Link Posted: 12/19/2005 6:08:48 AM EDT
[Last Edit: 12/19/2005 6:09:03 AM EDT by huggybro]
I'm not a jeweler but I did sleep at a Holiday Inn last night. Actually my brother in law is in the business so I know a little. If you are looking for something, shop around. If you go to a Mom and Pop store, they will probably be able to negotiate more than a chain store. A chain has a margin of profit they want to maintain. They will deal but not as much. A Mom and Pop will usually deal more.
Also and I can't stress this enough, CASH in hand. I suggest you mention several times especially if you are dealing with a Mom and Pop store that you will be paying in cash. Not credit card but cash.
Some stores like to cook the books and would like to deal with cash. They will still give you a receipt which really means nothing but would like good ole greenbacks.
Also be open minded about your purchase. Alot of times the salesman can show you something he really wants to move but is not exactly what you want. Do not appear to enthusiastic and they might be more willing to close the sale.
Finally if you will be buying jewelry occasionally, find someone in the business and befriend him.
Dinner, bottle of booze, whatever. Goes a long way.
Link Posted: 12/19/2005 6:37:11 AM EDT

I'm asking this question because the stores around here are offering me money off without me even asking. That led me to believe there must be some serious cushion in the pricing.

Huggybro - Good point about having cash in hand. That makes good sense.
Link Posted: 12/19/2005 9:15:15 PM EDT
[Last Edit: 12/19/2005 9:15:41 PM EDT by ACK]
Typical "wiggle room"

~25 to 30% if you pay cash (no credit cards)
35-40% if you are a regular (~ three - four visits a year)
35-40% if they are trying to move it.


> % if all apply

My recommendations. Sponsor a reputable dealer over the long haul. Over time you will get good deals on slow movers or excess inventory. On the "must have items" great deals can be made.

Case in point our family jeweler Peter (we send everyone to him) knows the entire clan. Last month we needed to resize (gift) a ring and also replace a pearl on another ring. The cost: NO CHARGE. However since we were there we decided to take a look.

My wife found a beatiful stone, it was in a ring setting she didn't care for. Peter sketched a pendant and my wife fell in love with it. The price was 65% of the tag. Yes that free resize cost me plenty... Since she's happy, I am happy.

ACK
Link Posted: 1/2/2006 8:06:50 PM EDT

Originally Posted By FatMan:

Originally Posted By olyarms:
$1500-$1000 is quite a lot.
Not all stores will haggle. Can you haggle the with the grocery store to get that bunch of parsley $0.30 cheaper



True, but you never know until you ask. Mark-up on jewelry is usually very high. Much depends on the store and the area you live in.

+1
Link Posted: 1/2/2006 8:12:52 PM EDT
Bypass all jewelry stores and go straight to the pawn shop.
Link Posted: 1/2/2006 8:41:10 PM EDT
Unless things have changed, most jewelery stores operate on "Keystone" or "Delta" markups.

These are code words so the customer won't know what the terms mean.
Keystone is twice, Delta is three times.
Link Posted: 1/2/2006 9:21:22 PM EDT

Originally Posted By olyarms:
$1500-$1000 is quite a lot.
Not all stores will haggle. Can you haggle the with the grocery store to get that bunch of parsley $0.30 cheaper



"Parsley isn't marked up 1000 toto 1500%"
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