Buying Diamonds Selecting The Best Company

Buying Diamonds: Selecting the Best Company
Diamond shoppers today have more choices than ever on where to​ buy their diamond engagement ring, diamond earrings and other diamond jewelry items .​
However, with greater selections come bigger potential risks and rewards .​
You need to​ do your homework and understand how to​ select the best company for your diamond purchase.
The retail diamond market is​ comprised of​ three broad categories of​ diamond sources; jewelry stores, ecommerce diamond companies and diamond brokers.
Jewelry Stores
Until recent years, jewelry stores were the only option for most diamond shoppers .​
This was especially true for smaller towns and rural areas .​
These stores had a​ monopoly, much like Ma Bell with the phone systems during most of​ the 20th century .​
Jewelry stores were the only game in​ town and could set their prices at​ whatever markup they wanted .​

Jewelry stores depend on impulse buying so they focus on having a​ selection to​ pick from, name recognition through extensive advertising, and being convenient so shoppers can walk in​ and make a​ purchase with no education or​ knowledge of​ the product .​
If it​ looks nice to​ an​ impulse buyer, they will pull out the credit card and have it​ gift-wrapped .​
To attract the impulse buyer, jewelers built elaborate stores with polished marble floors, expensive display cases, and lighting that makes everything in​ the store sparkle.
To pay for the stores, the decorations and all the expensive advertising, jewelry stores must maintain high markups on the items they sell .​
The more expensive stores have bigger inventory, higher rent and more advertising, which dictates the higher markup necessary to​ pay for all that overhead.
E-Commerce Diamond Retailers
The online shopping cart of​ hundreds of​ jewelry retailers has been one of​ the big growth areas for e-commerce .​
Shoppers can shop from the convenience of​ their home or​ work computer, look at​ the pictures of​ thousands of​ jewelry items online and place their order without ever talking to​ a​ human .​
E-commerce diamond retailers provide a​ list of​ diamonds owned by groups of​ wholesalers and let the shopper pick the diamond they want based on the specifications in​ the list .​
The shopper pays for the diamond in​ advance and then the wholesaler or​ the retailer ships the diamond to​ the consumer.
The online jewelry retailers offer the advantage of​ much greater selection than you can find in​ a​ jewelry store and the ability to​ ship the items all over the country, which provides greater options for shoppers in​ small towns and rural areas .​
Due to​ low overhead costs, online jewelers can provide lower prices than most jewelry stores .​
The disadvantage of​ the online jeweler is​ that there are few safeguards in​ place to​ keep the consumer from making a​ mistake .​
Picking the least expensive diamond from a​ list of​ options often means there is​ something less desirable about the diamond .​
Without an​ expert adviser to​ help, the consumer is​ mostly on their own to​ make their selection.
Diamond Brokers
There is​ a​ third type of​ diamond retailer, the diamond broker, that differs from the jewelry store or​ e-commerce retailer .​
Like most e-commerce retailers, brokers do not own inventory and have low overhead, but they differ in​ that they work as​ diamond consultants for the shopper to​ find the best diamonds meeting the consumer’s requirements .​

To attract new clients, diamond brokers rely on word of​ mouth advertising .​
They typically have a​ website focused on online education and shopping advice instead of​ a​ list of​ inventory and the online shopping cart .​
Diamond brokers work with their client to​ find the best diamond on the wholesale market and present it​ to​ the client in​ the broker’s office or​ ship the diamond to​ the client to​ examine before they purchase .​
The result of​ the lower overhead and personal consultant service is​ that clients usually get a​ better diamond at​ a​ lower price than with jewelry stores or​ online retailers.
To determine which company is​ going to​ be the best supplier for your diamonds, know what retailer characteristics are most important to​ you then ask many questions .​
Be sure the company you select is​ going to​ be able to​ provide the personalized service, expert advice, high quality diamonds and low prices you deserve.

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