Wholesale Diamonds?

[Quinn]

Sometimes I see local adds in the paper where certain stores will offer "better than wholesale" or that they are wholesalers to the public. This is really confusing. Is this for real?

[Bearman]

Sometimes I see local adds in the paper where certain stores will offer "better than wholesale" or that they are wholesalers to the public. This is really confusing. Is this for real?

You have to watch wherever you buy but you should also be wary of the Wholesale to the public scenario.
We even had someone out hear advertising 200% savings. This was on the radio. I still can't figure that one out.

Many people that hear the "wholesale" word think they are getting a great deal. You may or may not. Familiarity with pricing will tell you whether you are getting better than wholesale.

Remember, If it sounds too good to be true, it is too good to be true.

[Aharon]

Barry,

Your statement reminds me of my vacations to Newport, Rhode Island. When I go to that place for relaxation, I always walk past the retail jewelry store with big sign which amuses me all the time. The big sign says "WE SELL LOOSE DIAMONDS CHEAPER THAN WHOLESALE NEW YORK DIAMOND DISTRICT OR BOSTON DIAMOND DISTRICT.

Poor tourists. They may be fooled by that sign.

With warmest regards,

Aharon

[Kelly]

[
We even had someone out hear advertising 200% savings. This was on the radio. I still can't figure that one out.



It's like their paying customer to come pick up a diamond! Amazing. I'd want to go in and collect my 200% savings.......

[AlphaGemLab]

Wholesale by definition is to someone within the trade who will then repackage (in whatever form) to resell to the public. If a store is selling to the public, they can call it whatever they want, but it's still RETAIL! Unfortunately as you have discovered, the public is the one that gets duped by thinking they are getting something for nothing.

[Feydakin]

Actually, they can't call it whatever they want.. Many jurisdictions have laws on the books making it illegal to "wholesale" to the public since that is really "retail".. It's just not enforced very often..

It always makes me wonder though, if they will lie about what they really are, what else are they lieing about??

[denverappraiser]

Sometimes I see local adds in the paper where certain stores will offer "better than wholesale" or that they are wholesalers to the public. This is really confusing. Is this for real?

Better for whom? Of course it's confusing. That's the point.

Neil Beaty
GG(GIA) ISA NAJA