The Unknown Price

(Picture by Jafar Shameem)

When the prices are not displayed or you hear or are shown unconvincing costs, you are confused. This often happens in normal jewelry stores and those selling semi precious stones and artificial jewelry. Many get persuaded by the overdose of rhetoric and histrionics of the shopkeeper and succumb, while the rest arrive at  a bargain price which in their gut feeling is the right one. The shopkeeper winces and reluctantly hands over the chosen item. However, a few others are not sucked in by the facade and drama and continue to haggle with patience, especially when large sums are involved. I am one of them and I have experienced first hand.

Sharing two of them with you.

The year was 1997, from my office in Bahrain my Boss sent me to Hong Kong to attend the International Jewelry Festival, held annually. I was to submit a report based on the questionnaire. He was in a branching out mood, his Architectural firm had become famous and now he wanted to enter into a jewelry business. My visit would also take me to mainland China, where I was to meet the Jewelry manufacturer in his factory. (Would write later about horrendous living and working conditions of the laborers inside the factory).

Day one, I went to most of the stalls, was keen to have a deeper look at the stalls of the countries with semi precious stones origin, spent more time with Sri Lankan Sapphire, Colombian Emerald and Myanmar(Burmese) Rubies

Ruby has an eye-catching delightful color that appeals to me. From the assorted jewelry  displayed in the stall, I collected a gold chain ruby necklace, a pair of ruby earrings and a ruby hand bracelet. 

“How much for this set?” I asked the Burmese lady.

“$ 3000,” she said.

“Can you reduce the amount,” I asked.

“No,” she said and smiled. I turned around to leave.

“OK, $ 2800 for you only,” she said in a soft voice.

I shook my head and said no to her offer.

“Then how much is your price?” She asked.

“$ 1200,” I told her, I had done my homework. She looked at me and laughed out loud.

“No, no, no,” she let out a scream.

I left her and proceeded to the next stall.

Day two, after spending time with other vendors, I met the lady and spoke to her and asked her if she had changed her mind and was prepared to give me the set at the price I had mentioned to her. She cold shouldered and ignored me.

Day three, I repeated my appeal to her and her response remained the same.

Day four, which was the last day, I approached her again. She and her assistants were busy packing up. She looked at me and shook her shoulders.

“Ok, the final price is $2200,” she said.

“I am prepared to pay $ 1400,” I told her.

To cut the story short, she agreed I purchased the set and later presented it to my wife. Patience does save you money! Lesson learnt!

Now fast forward to Apr 20. Self and Nikhat,(my brother Zafar’s daughter in law) went to the Charminar area where the bangles shops are located. She had kindly agreed to assist in the purchase of bangles for my daughter in laws living in the US

We selected the bangles and the shopkeeper estimated their price. To have a further look, Nikhat left us to enquire in other shops. The shopkeeper told me the price.

“After a 30% discount the price is Rs 17,000,” he said.

Not familiar with bangle prices but aware of the profit margins that such vendors accrue I gave a shot in the dark.

“Rs 9000,” I said. He did not agree and stuck to his mentioned price.

I received a call from Nikhat asking me to come to the shop where she was, as the quality and the price were better there.

I turned around to leave when I heard the shopkeeper calling out.

“I am prepared to give you the bangles at Rs 6500,” he said.

I felt stupid and also aghast. Stupid for strutting out a price without awareness and for no reason and aghast at the difference in the price initially quoted and the one latest submitted by the shopkeeper. Decided never to repeat it. Lesson learnt again.

The bangles are with us. We purchased them from another shop after a different kind of bout with this shopkeeper;  that is another story, for some other day!

(Picture by Jafar Shameem)

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