I've bought a few rings from Amazon and been quite happy. So much so, I don't imagine ever buying from a local jeweler again, since they comparatively so expensive.
My wife bought me a $300 tungsten ring for my birthday one year. I subsequently lost it a few months later. I bought what seemed to be the same ring on Amazon for $50 to replace it. A few weeks later, I found my original ring. To this day, I can't tell which one is which.
So, is the one from Amazon is a lower quality. Is there a way to justify the higher price from the local jeweler? I have no idea, nor do I care.
It sucks to buy stuff from a local jeweler, it is a consistent ripoff. The amount of money they charged for some e-rings was laughable when I was shopping in stores. The ring I got looks like a 15k ring if it were in one of those stores. It was seriously frustrating looking in stores.
I went to NYC to try to find a jeweler I could trust. Jewels get very complicated in a hurry...I'm not sure if it was the steep competition in the city but I had a vastly better experience:
In depth discussions on stone quality measurements instead of, "oh its 1c SI1."
Knowledge of stone sourcing
Very specific knowledge on highlighting a stones brilliance with its setting.
None of these things were found in a typical local jeweler.
I feel the only appropriate place to get jewelry now is from an e-tailer with a very small if any storefront. Lots of these places have superb service now too. You can check out stones in great detail(jamesallen) and have them sent to you for inspection as well.
All in all, if I am going to waste my money on jewelry I want to know exactly what I am wasting it on and where it came from.