#1 way you don’t get what you want!

Diamond Answer Man – Episode 22.

The number 1 Way you don’t get what you want is by loosing focus.

Remember what you want and what you spend are related – but not the same.

Many years ago I worked for a diamond polishing company. We had a full division dedicated to selling to wholesalers – who in turn sold to jewelers. We also had a division that worked directly with retail buyers by appointment only.  During my many years there I ran into some very unique situations dealing with grooms to be shopping for engagement rings. I experienced what I call “price blindness”. It is a case where they buyer “the groom to be” has lost all focus on the engagement rings meaning and turned all emotional energy into receiving the lowest price. This emotional break in the process creates some very interesting and weird outcomes.

1. Shock from the buyer – through buyers remorse

2. Shock from the recipient – it isn’t what she thought it was.

3. Or Conversely  and strangely rabid fans.

What usually occurs it the buyer shops and shops until he finds someone who will give him the price that he perceives is the lowest quote from anyone he has shopped.

He ends up with something he didn’t want – however he doesn’t know it yet. It will come sooner or late and denial or frustration sets in.. Don’t fall for this make sure you stay focused and buy from someone with Personality, Enthusiasm and Integrity or PEI “PAY” for short. – Yes I made that up! But its fun isn’t it?

Here is the scenario..

Bob goes to several stores but stops with Jeweler Joe and really likes what Jeweler Joe has to offer. However, Bob is very concerned he’s not getting a good enough deal – though Bob has been to several stores and he pretty sure Jeweler Mikes price is right and his service sounds good too. Bob decides not to buy today from Jeweler Mike because he knows he can find a better deal. He ends up visiting Jeweler Jane and buys a diamond that appears better than Jeweler Joe for the the same price.

Here is an example of two diamonds with reports from GIA and EGL USA.

The EGL report is a color grade higher.

This makes Jeweler Janes offer appear better than Jeweler John.

(THESE ARE ACTUAL STONES I SENT OFF)

In the end – the problem lies with our feelings.

Unfortunately what most people want is an appraiser to validate their savvy buying decision.

If an appraiser accurately values an item at what you paid for it – the illusion of the deal isn’t there.

Don’t become price obsessed – if you do – you will start to ignore very important signs of whether or not you should buy from someone.

These are small examples – there are PAPER MILLS out there – that produce laboratory reports that sadly place grades on reports that are falsely inflated – which in turns creates a bigger illusion.

Example Jeweler Jane has a GIA G/SI1 and Jeweler John has a E/VS2 from an unknown lab (or from a known lab name like EGL USA – except is says EGL but this lab is in Turkey, which is not affiliated with EGL USA)

You based upon the extreme value it seems to represent.

Jane’s diamond is 5100

John’s diamond is 5100 (however Jane also had a diamond with GIA report and E/VS2 grade that she offered at 7200)

This appears to you as roughly a 30% savings. And you justify it in your mind by saying – jewel...