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Loophole Exploited - 50% off $10K Vera Wang Engagement Ring

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Frequent Contributor

Loophole Exploited - 50% off $10K Vera Wang Engagement Ring

Y'all! I totally stumbled across a gold mine of a deal & exploited the hell out of it. 😂 So, I was innocently browsing the Vera Wang engagement rings section on Jared Galleria's website. Of course I have champagne tastes on a beer budget, so I went straight to the $10K+ rings. I saw this ring and wanted to see how much it would be with tax & when I added it to my cart, all of a sudden, it was 50% off. I freaked & woke up my DH who agreed to let me purchase it.  

I went into Jared's to get my finger sized and to have them order it b/c they can get it in 2 days. Long story short - the ring was supposed to be 20% off and not 50%. They tried to keep me in the store so they could get the website fixed, but DH and I jetted out and ordered the ring online before we left the parking lot. 

 

Needless to say, this was 4 hrs ago & the website is fixed now. 😂🤣😂 I sure do hope they honor the purchase price. 

 

https://www.jared.com/vera-wang-love-2-carat-tw-diamonds-14k-white-gold-ring/p/V-081056107

 

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Re: Loophole Exploited - 50% off $10K Vera Wang Engagement Ring

The markup on most jewelry is pretty substantial so I wouldn't shed too many tears for them.

 

That being said, if the web designer and their general counsel had any common sense there would be a disclaimer somewhere on the site that essentially absolves them of responsibility to honor obvious and unintentional pricing errors.  You can expect that they will point to that and refuse to honor the web price but they may also make a "goodwill" offer of a greater than 20% discount, but less than a 50% discount.

 

Good luck!



(7/2020)
FICO 8 (EX) 798 (TU) 800 (EQ) 793
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Artist formerly known as ColdFusion
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Re: Loophole Exploited - 50% off $10K Vera Wang Engagement Ring


@the_old_curmudgeon wrote:

The markup on most jewelry is pretty substantial so I wouldn't shed too many tears for them.

 

That being said, if the web designer and their general counsel had any common sense there would be a disclaimer somewhere on the site that essentially absolves them of responsibility to honor obvious and unintentional pricing errors.  You can expect that they will point to that and refuse to honor the web price but they may also make a "goodwill" offer of a greater than 20% discount, but less than a 50% discount.

 

Good luck!


Unfortunately, I think you're probably right. I keep checking the status of the order which is currently set to 'processing' hoping that it doesn't change to 'canceled'. I'm just quietly sitting back hoping that it ships cause I've been looking for an upgrade for the past several months. 







Message 3 of 8
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Re: Loophole Exploited - 50% off $10K Vera Wang Engagement Ring

It's showing it's stil $4,999







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Re: Loophole Exploited - 50% off $10K Vera Wang Engagement Ring


@ChiTownTony wrote:
It's showing it's stil $4,999

They say they are out of stock online. The "out of stock" claim could be a temporary measure while they figure out what is wrong with their site's pricing.

 

Or maybe they really are out of stock.

 

Agreed that they're not suffering much at the $5k price. Warren Buffett (whose Berkshire includes several jewelry and clothing companies) said that despite jewelry consisting of seemingly durable precious metal and gemstones, it's actually clothing that better retains its value upon resale.

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Re: Loophole Exploited - 50% off $10K Vera Wang Engagement Ring

I normally have convulsions when I go near a jewelry store. It took a lot of courage for me to even check out your link. Smiley Happy







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Re: Loophole Exploited - 50% off $10K Vera Wang Engagement Ring


@wasCB14 wrote:

Warren Buffett (whose Berkshire includes several jewelry and clothing companies) said that despite jewelry consisting of seemingly durable precious metal and gemstones, it's actually clothing that better retains its value upon resale.

He might have sung a different tune if he had an ownership stake in Rolex SA.



(7/2020)
FICO 8 (EX) 798 (TU) 800 (EQ) 793
FICO 9 (EX) 817 (TU) 815 (EQ) 812

$1M+ club

Artist formerly known as ColdFusion
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Valued Contributor

Re: Loophole Exploited - 50% off $10K Vera Wang Engagement Ring


@wasCB14 wrote:

@ChiTownTony wrote:
It's showing it's stil $4,999

They say they are out of stock online. The "out of stock" claim could be a temporary measure while they figure out what is wrong with their site's pricing.

 

Or maybe they really are out of stock.

 

Agreed that they're not suffering much at the $5k price. Warren Buffett (whose Berkshire includes several jewelry and clothing companies) said that despite jewelry consisting of seemingly durable precious metal and gemstones, it's actually clothing that better retains its value upon resale.


I'd say this is particularly true for non-certified stones. There's so much value fluctuation around different grading factors that having no idea where a stone stands on those grades is rolling the dice. If it's not an investment and one plans to keep the jewelry forever it doesn't matter, but investors aren't going to want to touch uncertified stones in the secondary market unless they're heavily discounted.

 

The precious metals will still have some value, but PM had not been a good long-term investment compared to stocks or real estate, so it stands to reason it wouldn't be with jewelry either.

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