4 Tips on How to Negotiate with a Jeweler： Get more bang for your buck!

Hey guys, Michael Fyre and Brilliance and today's episode is going to be a special one. If you've been in the market and you are ready to pull the trigger to buy something but you want to maximize your budget and get the best deal possible, let me tell you, today is the day to tune in. I'm going to give you four tips on how to negotiate with a jeweler to get the best deal possible. Take it from me, I've been in the business for over 16 years now. I've worked with many, many people, many different clients. My team has worked with many different clients online, over the phone, on chat. You name it, we've done it. I'm going to tell you from a jeweler's perspective what I suggest that you do so that you can maximize your budget and get the most bang for your buck. You ready? All right, here. Tip number one. What you need to do is do your research before even walking in the door, communicating with that jeweler or reaching out to them online. The reason why I say that is because you want to sound as if you know what you're talking about. Are you buying a diamond? Are you buying a moissanite? Are you buying a lab-grown diamond? Are you buying a lab-grown sapphire? Are you buying an alexandrite? Are you buying an engagement ring? Are you buying an earring, pendants, bracelet? What kind? What style? What metal? Is it 14k yellow gold? Is it 18k yellow gold? Is it platinum? What are you buying? First and foremost, you have to know what you are buying because you want to be able to compare apples to apples. One diamond from this category is not the same as one diamond from that category. Buying a lab-grown diamond is not the same as buying a natural diamond. Buying a VVS clarity grade is not the same as buying an SI1 clarity grade. Buying a colorless diamond is not the same as buying a near colorless diamond. Buying a moissanite is not the same as buying a sapphire. You want to make sure you're comparing apples to apples because it's very, very important that you do that so that when you are comparing prices, it makes sense. In other words, it's just like buying a vehicle, buying a car, buying shoes, buying expensive handbags. If you're not comparing the same things, comparing apples to apples, then the jeweler may be very confused as to where you're getting these prices from. So first and foremost, do your research, understand the product that you're buying, and understand that you're comparing apples to apples so that you know the prices up front. Number two, understand your budget. Everyone has a budget and obviously you should definitely stick to your budget. Many people sometimes will save so much that they're under budget. Sometimes they're willing to go over their budget by, I don't know, 10%, 15%, 20%, or X amount of dollars. It depends what your budget is. So if you understand your budget, then you will understand what you can afford. But then the whole point of this video is that if you can negotiate a better deal, that you might be able to get a higher quality item, you might be able to get a bigger item for less, or you may be able to save a couple of bucks where you're buying the same exact thing for less, right? So that's the whole point of this video. But by understanding your budget, what you are doing is that you are not pricing yourself out by buying something that's a little too expensive, or you are not overpaying for an item that may be worth less than your budget. And that's the important thing, is to actually understanding your budget. So when you are doing your research, which is point number one, you are matching it up with your budget, so that at least if you are going to negotiate, you know that it's going to fall within a range between X to Y to Z, right? So when you are going to negotiate with your favorite jeweler, regardless if they're online, or if it's here at Fire Embrilliance, or if it's a person that is a local shop at your local jewelry store, at least you will know that your budget will fall within this range where it's not offensive. Yes, some jewelers do get offended by certain price points. So for example, let's just say, hypothetically, you want to purchase a diamond, diamond A, and the market price is about $10,000, the range is anywhere between $9,000 to $12,000, you're trying to hit that $9,000 price point, or maybe even a little less, then that might not be offensive. But if you're going to go in and negotiate and say, hey, I want to buy this for $5,000, or $4,000, or $3,000, it may be offensive, and you might actually hurt that relationship, burn that bridge with that jeweler, and you may not be able to work with that jeweler again. And if you don't care for the jeweler, then who cares, right? But if you do have a relationship with that jeweler, try not to be too offensive, but go in knowing the price points, knowing the range, and knowing the market, so that not only does it fit your budget, but at the same time, it makes sense for the jeweler. Because remember, at the end of the day, the jeweler also has to make money in order to survive in the business, right? So provide a negotiable price where it makes sense for you, but at the same time, it makes sense for the jeweler. So know your budget, and try not to be too offensive. You could definitely lowball, but don't be an offensive lowballer. Number three, here is the one trick and tip. If there's anything at all that I want to let you know within these four tips that you should consider, is that if you are going to purchase in volume, you have the leg up. Just like anything else, if you're going to purchase more, then you have more leverage. What do I mean by that? Let's just say, for example, if you initially only wanted to purchase a pair of earrings, right? And you wanted to negotiate that pair of earrings from $1,000 down to $800. But now, if you were to add on a ring, where the ring is $2,000, so if you were to purchase at the marked price of $2,000 for the ring, $1,000 for the earrings, it technically should be $3,000. But if you are going to add both items now, you may have more wiggle room, because now you're purchasing what is called volume. So if you were to add a bracelet, pendant, earring, necklace, all of that, maybe some additional gemstones, right? So if you're going to purchase in volume, you have a lot more wiggle room, because a jeweler is willing to work with you more, as long as they know that they're going to make a certain margin. So the more you purchase, technically, or most of the times, the more you will have room in order to negotiate with that jeweler to get more bang for your buck. Because at the end of the day, the more you purchase with them, the more they make, and the more they're willing to cut their prices, and so you'll have more for a lot less, which means you're maximizing your budget, and you are maximizing and getting more bang for your buck. Number four, and here is something that I do want to let you know, it's a little personal to me, and it's extremely important that you understand this. The only people that never gets a good deal are the people that never ask. So my tip here as a jeweler is to let you know, just simply ask, after you've already followed the first three tips, right? Do your research, know your budget, and at the same time, if you are willing to purchase in volume, then you could potentially get the best negotiating leverage. But the last thing is, if you don't ask, the jeweler won't know. And something that many people have obviously, over the years, worked with us, the reason why they got better deals here at Fire Umbrellas is because they just simply asked. So if sometimes, if we're able to do it, we will pass on the savings. If sometimes we're not able to do it, then we will let them know. But at the end of the day, if you don't ask, then you won't know. Something that my dad taught me at a very, very young age, he always told me, you are born with ears, learn how to listen. You're born with eyes, believe in what you see, and you're born with a mouth. Learn how to use it, right? You know, just something personal. I mean, I grew up somewhat of, ever since I was a kid, I was somewhat of an introvert. But the thing about introverts that many people don't realize is that not all introverts are shy. Just because they're an introvert doesn't mean they're shy. It just means that they might be analytical, they like to think before they speak. They might actually think about things through. They try to make sure they have a coherent thought before they speak. So just because they're an introvert, they don't speak up, it does not necessarily mean they're shy. But sometimes people that don't speak up, including introverts, will not get that deal. So sometimes all it takes is to ask. And the person that's selling the product, the jeweler that is trying to sell the piece of jewelry, all it takes is for you to ask, and they may be able to do it for you. Because you never know. Maybe that jeweler at that point in time at your local jewelry shop, he might be in a situation where he needs to make a sale for the day. And he might be willing to cut you a deal. But he won't know unless you ask. So that is the most important part. At the end of the day, if you are willing or wanting to negotiate to get more bang for your buck, make sure you do yourself a favor and ask. Because if you ask, you might actually get that deal. So there you go. Those are the four tips as to how you can effectively communicate and negotiate with a jeweler so that you can maximize your budget and get the most bang for your buck. Number one, do your research. Number two, know your budget. Number three, consider purchasing in volume. And finally, number four, just simply ask once you've done all of that. So what do you think? Do you think this is actually some good advice? Leave it in the comment section below. Subscribe to the channel. I know many of you have been watching us for over the years, but you guys haven't subscribed yet. Our goal is to reach 100,000 subscribers. And if you have ever decided or if this information has ever helped you to decide on whether or not you should purchase one piece of jewelry over the next, or if you've ever shared this information to anyone that needed this information and it has ever been found helpful to you, make sure you support our channel. Subscribe to the channel. Hit the like button. Leave a comment section below. Let us know if you would like some other tips and advice on how to further negotiate with a jeweler. I'll see you next time. Goodbye.