People buy gemstone jewellery for various reasons. They are durable, aesthetic, and classy. Some gemstones are of high value and retain the price for years unless something drastic happens to the market price. Some, like diamonds, become more valuable over time. Like with other investments, you should get the best price for gemstone jewellery in Singapore, and you can do this by negotiating the price.
First, you have to be confident, and to do this, you need to know several things.
Gemstone Market Knowledge
Before walking into a jewellery store, you should have a general idea about the market of the gemstones you’re interested in purchasing. The market for precious stones is unpredictable because it relies on rare raw materials whose price, demand, and supply keeps changing. Consulting a trusted high jewellery brand like Simone Jewels can provide insights into gemstone pricing and market trends.
Other factors, such as gemstone shortages, political upheavals, and rising costs of precious metals, affect the price of gemstone jewellery. If you’re looking for diamond jewellery and there is a problem in some of the source markets for mined diamonds, you should expect the price to rise.
If you researched the price a while back, don’t expect the same price when you return to the same high jewellery brand today. For example, in 2008 and 2010, gold and platinum prices hit record highs before dropping. Without market knowledge, you would have paid a high price for jewellery with these metals long after the price drop.
Understand Gemstone Grades
You don’t have to go deep into gemstone grades, but at least learn a little about those you’re interested in purchasing. For example, if you’re looking for amethyst gemstone, learn about the grading, what they mean, and the impact on the price.
For example, if you’re shown AAA-grade amethysts, you’ll know it has inclusions and is darker in colour. Since they have imperfections, you have leeway to negotiate a better price. The same may not be said of AAAA grade.
The best-graded amethysts can still fetch a good price, and a high jewellery brand knows this. They may not be willing to accept a lower price when they know the next customer is willing to pay more. The brand may be more willing to lower the price for lower-grade gemstones, which still look great but have some visible imperfections.
Utilise Benefits in the Supply Chain
From the moment gemstones are mined, they go through different channels, and the price increases at every point. For example, the price of rough gemstones is much lower than what is offered by a gem dealer who cuts and polishes them.
A wholesaler will likely sell gemstones at a lower price than a high jewellery brand because they buy the gemstones at a lower price than the retailer. You may be able to negotiate for a lower rate if a manufacturer is also a retailer. Likewise, a wholesaler may give you discounted rates, especially if you’re buying multiple gemstone jewellery.
Avoid Jewellery Trends
Trendy jewellery tends to attract a higher price, and since demand is higher, the high jewellery brand will not lower the price when others are ready to pay the full price. You might have better luck if you go for classic or generic pieces. The jeweller may be happy to dispose them and bring in recent and in demand gemstone jewellery.
Have a Budget
Knowing how much you’re willing to spend on the jewellery is critical because you won’t give in to the demand for a higher price. The jewellery seller may be willing to come down to your price if you show you cannot go beyond it. Sometimes knowing that you’re ready to walk away because you cannot afford to pay more may be the nudge the seller needs to settle.
These are some of the tricks you can use to negotiate the price of the jewellery. Understanding the value of the ring, its grade, and the market trends will show you know enough about gemstone jewellery and are only willing to buy them at the best price possible. With gemstone jewellery in Singapore from Simone Jewels, you gain access to expertly graded pieces at fair prices, with knowledgeable staff who understand both the market and your needs.
