Buying Ring in NYC - Cash or Card?

Coldplayer

Hi all just wondering what would be the best option here.

Looking at buying in NYC but wondering what the best route to take is? Any got direct experience of this?

Will using a card serious impact on bargaining power? or does that even matter anymore?

xpletiv

Using a card over there has a transaction fee from the bank and if a CC then from Visa or mastercard too. Could be as much as 2.5% of the cost of your purchase. Just so you know

xpletiv

If you know exactly what youre getting there, then go with card. Be wary that you are carrying a lot of cash around with you then! If you ARE going to go with card, ask to be charged in Euros as it gets over that transaction fee. Cash is a bargaining tool though in anywhere that isnt Cartier or Tiffany. Good luck!

Kevin the Kid

Are rings cheaper in New York. I was thinking of bringing one with me for a proposal in December. Have you any info on this?

xpletiv

Yes, rings are considerably cheaper in NY than Ireland.

Coldplayer

Are they really, I'm torn between the two.

I'm going to go to NYC armed to buy, be it cash or card, but from what I've seen online etc. the price diff isn't that dramatic.

xpletiv

They are much more open to the haggle, in store than they are here. Thats why the cash is a good idea, but just be careful

fermanagh_man

I bought my fiancée ring in New York, I'd never planned on buying it, it just happened by chance

What I will say is don't be rushed into a decision if your not sure, the sales guys in the jewlers are very good and talk the talk, when they feel they are losing the sale they will likely pass you onto another colleague!

And main tip is ALWAYS haggle on price

I got my finances ring for $4,000, was originally quoted $6,500 but did some hard negotiating using lines like "my plane leaves tonight for ireland so that's my best offer here and now" so got it for $4k and had it valued in Dublin for €12,500 so obviously delighted with that

fermanagh_man

Might also add I paid using my PTSB debit card

Didn't find the exchange rate bad either

Arbiter of Good Taste

Coldplayer wrote: »

Are they really, I'm torn between the two.

I'm going to go to NYC armed to buy, be it cash or card, but from what I've seen online etc. the price diff isn't that dramatic.

Huge difference between Ireland and NYC.

What are you looking at online? A well positioned photo can make a 0.3 carat look like a 1 carat ring. Big difference in real life.

Preset No.3

There's a daily limit of €2500 on PTSB debit card. Plus call them before you go and tell them or the system will think it's a scam and block the card.

Kevin the Kid

I think cash might be the way to go so. Who's going to let a wedge leave their shop if there is any profit in it for them ; )

Coldplayer

Arbiter of Good Taste wrote: »

Huge difference between Ireland and NYC.

What are you looking at online? A well positioned photo can make a 0.3 carat look like a 1 carat ring. Big difference in real life.

I'm not sure I understand. Like for example I was looking at one ring that's 1 carat. In NYC I find you're looking at parting with $8k for such a ring, ok so you are going to haggle on that so it may get to $7.5k.

What are looking at paying for a 1 carat ring here? €6k plus?

Coldplayer

As the time is fast approaching! anyone else got opinions on this? or indeed any experience of haggling with NYC jewellers???

Gumbo

Coldplayer wrote: »

As the time is fast approaching! anyone else got opinions on this? or indeed any experience of haggling with NYC jewellers???

The jeweller we are buying from in NYC next week has already told me that the cash discount will only be 2% but I'm hoping that we get a slightly better deal face to face. I'm bringing cash for the purchase anyhow as they will add on the credit card surcharge for you.

Coldplayer

kceire wrote: »

The jeweller we are buying from in NYC next week has already told me that the cash discount will only be 2% but I'm hoping that we get a slightly better deal face to face. I'm bringing cash for the purchase anyhow as they will add on the credit card surcharge for you.

You have to get more than 2% off!!! That would be an absolute joke!

Gumbo

Coldplayer wrote: »

You have to get more than 2% off!!! That would be an absolute joke!

Very possible. But I didn't want to tell the other poster to expect X% discount and then to be disappointed when they got there.

I'll know more by Friday anyway.

braddun

in usa they add 500% profit to jewelry sales you might be better off in uk
credit card is safer,

ABajaninCork

I'd pay by card. Absolute madness to be walking with that much folding...

Do you not have to declare the cash when going out anyway?

hfallada

ABajaninCork wrote: »

I'd pay by card. Absolute madness to be walking with that much folding...

Do you not have to declare the cash when going out anyway?

Not if its under 10,000 USD and all you have to do if its over, is to have your FX slips from the bank to show its a legit source of cash

Coldplayer

I would prefer to go with the card, believe me.

But AIB have a transaction charge of 1.75% or so! plus I believe there is a card surcharge in NYC as well?



Plus cash has to have strong bargaining power???

Gumbo

Coldplayer wrote: »

I would prefer to go with the card, believe me.

But AIB have a transaction charge of 1.75% or so! plus I believe there is a card surcharge in NYC as well?



Plus cash has to have strong bargaining power???

I'm with avant card and their charges are +2.65% then whatever currency conversion on the day is. I will be PAYG with cash as you would be talking about €300 in savings.