gemsTV unique selling point. What is it?

[Meeshoo]

They do get authorisation for the full amount Klos BUT that drops off your bank account after 10 days. So what they do (because the 2nd and 3rd instalments aren't authorised by the Bank) they write you a letter saying that you have entered into an agreement with them etc etc. I don't know what they'd do if somebody didn't pay but I guess the letter (and your commitment by buying the first instalment) guarantees that you've agreed to pay so they could take legal action if necessary.

 

[argeybargey]

They do get authorisation for the full amount Klos BUT that drops off your bank account after 10 days. So what they do (because the 2nd and 3rd instalments aren't authorised by the Bank) they write you a letter saying that you have entered into an agreement with them etc etc. I don't know what they'd do if somebody didn't pay but I guess the letter (and your commitment by buying the first instalment) guarantees that you've agreed to pay so they could take legal action if necessary.

Presumably they take the same risk as any other company offering "free" credit. I suspect (though this is purely opinion and not based on known fact) that this area is probably a little less risky than, say, household goods where the likelihood of serious financial hardship is more likely. If you are seriously struggling financially you'd be more likely to be risk-shopping by need rather than adornment.

Like Jacqualina, I would be happier if they reserved this for higher priced pieces to avoid luring in those less able to afford the instalments, tempted by what may be an immediately low and affordable payment but which may not be so in future. xxxxxx

 

[rocksandcofan]

Presumably they take the same risk as any other company offering "free" credit. I suspect (though this is purely opinion and not based on known fact) that this area is probably a little less risky than, say, household goods where the likelihood of serious financial hardship is more likely. If you are seriously struggling financially you'd be more likely to be risk-shopping by need rather than adornment.

Like Jacqualina, I would be happier if they reserved this for higher priced pieces to avoid luring in those less able to afford the instalments, tempted by what may be an immediately low and affordable payment but which may not be so in future. xxxxxx

James (Mr "I am quite boring") Russell said last night that in theory multi payment options are only given on items over £300, but sometimes they still do it for pieces that are even cheaper than that. :mysmilie_81:

With regards to getting the 2nd and 3rd payments, the same problem must exist for Ideal World and QVC, so maybe all of these channels have debt collection services if customers decide not to cough up the money when asked to do so.

I think multi payments would be a boon say if you wanted to buy an expensive piece like a larger AAA tanzanite. Some people would otherwise never be able to afford these types of prices without this kind of option that QVC, Ideal World and gemsTV offer.

 

[rocksandcofan]

At the end of the day, they will be getting authorisation for the full amount from your card at point of sale I would imagine. I can't see them only getting the first payment authorised otherwise they could have a job getting the rest of the money out of some people! I also personally think their prices are high so I don't see the benefit. They would have to get their higher admin costs for this service back from somewhere so as usual it'll be the customer who pays.

I tend to agree with you, I was watching the lovely (not) James last night or the night before (cant remember) and he was doing "clearance" prices on gems like tanzanite, but when they showed the clearance price for at least some of the tanzanites it didn't seem to be much cheaper (if at all) than on other jewel based TV channels. Even so, I do like the look of the tanzanites they have on gemsTV, especially AAA tanzanites.

 

[CountessK]

Even so, I do like the look of the tanzanites they have on gemsTV, especially AAA tanzanites.

They had seriously the most beautiful ring I've seen in years the other night. A big 3ct+ square tanzanite with pear-cut diamonds on either side and diamonds down the shoulders. It was flipping gorgeous, and despite crying and begging my dh to let me buy it, I was denied (yeah, like we have £1998 to spend on jewels, even if there are three easy payments!).

I bought my first piece from TJC the other day, and was disappointed to not be offered free P&P as a new customers - Gems do that, and I'm sure it must be a bit of a no-brainer for enticing new customers to the channel.