How to Bargain with Jewelers

Among other things, New York offers a wide selection of diamond and gold jewelry. It is easier than you think to get a bargain on jewelry in New York. One of the keys to getting a bargain on jewelry is knowing how to bargain with jewelers. Many jewelers will quote you a much higher price for jewelry than they are actually willing to accept. Don't be afraid to be aggressive when haggling with jewelers; being assertive is one of the keys to getting a bargain on jewelry, especially in New York.

Diamond Ring

Where to Buy:
While Tiffany's is a popular tourist attraction, it is not the ideal place to find bargains on jewelry in New York. Ten blocks away, the Diamond District on 47th between 5th and 6th Avenues, is actually considered the diamond capital of the world. There are 2,600 vendors on this block, many of whom deal exclusively in fine jewelry. These jewelers offer many pieces that are of the same quality as what is offered at the more well-known stores. Besides being less expensive to begin with, it is also much easier to bargain with independent jewelers than with the larger retailers.

Even though these jewelers offer cheaper prices than the larger chain jewelry stores, they still can be quite expensive. Your best bets are either the string of jewelers on the north side of Canal St. between Broadway and Mulberry, the Jewelry Exchange in Hackensack, New Jersey, the Diamond Exchange in Paramus, New Jersey or the Jewelry Center, also in Paramus.

Don't Be Pressured:
If you are not sure what you are looking for and are just browsing, do not be pressured into buying something you don't want. Jewelers in New York are effective salesman, they need to be in order to make their business model work. Many New York jewelers rely on selling individual pieces for a large profit while only moving a low volume of merchandise. While smaller jewelers offer better prices than larger retail chains, they do not offer a comparable selection. Be aware of this and do not get sucked into buying a piece of jewelry that is being pushed on you just because it is what the jeweler has in stock. If you don't see what you want at one jeweler, there will always be another jeweler nearby that does.

Go into the jeweler knowing what you want and how much you are willing to pay for it. Be firm and don't be afraid of offending anyone by bargaining. Don't let on that you want to buy a specific piece. Let them know that you have been to other stores and they have better prices and selection, even if this is not the case.

Go Early:
Many jewelers believe that successful sales at the beginning of the day or week are a good indicator of how business will go. As a consequence, many jewelers are eager to get you to buy even if it means giving you a bargain on the jewelry you are buying. To use this fact to your advantage, go early and try and make sure you are the first customer of the morning, or preferably of the week.

Get an Itemized Receipt:
In order to make sure that you are buying a genuine piece of jewelry, not a knock-off, always get a signed itemized receipt with your purchase. This receipt should be as specific as possible, detailing the:

  • Value of the jewelry
  • Carat count of the stone or metal
  • Metal or stone type
  • Total weight of the piece of jewelry

If you are buying diamonds the receipt should include:

  • Carat count of the diamond
  • Clarity of the diamond
  • Color of the diamond
  • Setting type of the diamond

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