What should you be looking for in choosing who to buy a diamond from? It isn’t easy since there are so many places to choose from. There are the local retail stores as well as hundreds of on line sources who are all looking for your business. How do you choose who to work with and who to trust?
There are several ways to narrow down your decision.
1. How long has the seller been in business? A diamond source who has been in business understands diamonds much better than one who is new in business. Not that many years ago people had to trust their diamond source to explain to them what a nice diamond was and what wasn’t so nice. Today, with gemological laboratories, diamond certificates and so much education for buyers to read, the impression is that you only need to compare the certificate and the price and you don’t need any help. That means that “anyone” can sell a diamond. But this is NOT true. All diamonds are not created equal, even if they have the same grade and the same certificate. You need expertise to guide you.
2. Does the seller have his own inventory of diamonds or is he just borrowing diamonds from the real owner? If the seller is on line, does he have a real business with real inventory or does he just download other people’s inventory to offer to you? These are questions you should ask. Obviously, the seller who sells his own diamonds can speak to you with first hand knowledge about the diamond and not just recite chapter and verse from the diamond certificate. If the seller owns his own diamonds he can photograph them for you to look at and he can describe in detail the pros and cons of any diamond he has.
3. Do you get to speak to the owner or just some sales associate trained to recite statistics to you?
4. If your potential seller is on-line, do they have a real office where you can go to see the diamonds?
These are some of the factors which will allow you to decide with whom to do business. In the end, from whom you purchase is almost as important as what you purchase because you want someone who will stand behind what he sells you.
Experience does count and you want someone who delivers what they promise as well.
Think about it.
More to come. In the meantime, Mind Your Diamonds!
Before you purchase a diamond, you have to establish several things in your mind. The most important of these is your budget. De Beers advertises that one should spend two months salary on the engagement ring you are thinking about buying. I think that you have to make your own decision on how much you can afford to spend. No one can tell you what is a comfortable amount of money to spend on a ring. I certainly can’t and I won’t. It is a very personal decision. But you have to have a budget!
Within your budget, you will have to make compromises. You have to decide how much money you will devote to the diamond itself versus the ring you will set the diamond into. After that, you have to deal with the Four C’s: Carat size, color, clarity and cut. [For more on the Four C’s, go to Diamond Education]. You can compromise on the first three C’s (carat size, color and clarity). But there is one thing you should not compromise on; the cut-you have to buy a pretty diamond. And that doesn’t mean just the cut grade on a certificate. It means that you have to buy a pretty diamond.
More on what makes a pretty diamond coming soon.
In the meantime, Mind Your Diamonds!
My name is Josh Fishman and I welcome you to Mind Your Diamonds, our new blog designed to help you, the consumer, navigate the Ps and Qs of buying diamonds and fine diamond jewelry. I have been in the loose diamond and jewelry manufacturing business for almost 30 years and I have learned almost everything I know from my father who has been in business for over 60 years.
I hope to transmit to you some of what I have learned over the years and have put into practice in my own experience so that you can avoid the mistakes which I have seen other consumers make countless times.
If you find my information useful, and you feel you would like to take advantage of our long experience in the diamond business for your own needs, I would welcome your calls and interest.
In the meantime, purchasing a diamond is much more complicated than simply looking at a diamond or a grade and comparing prices. It takes a lot of experience to determine whether the diamond is desirable or not and worth spending your money on. I hope to convey to you the important factors that you should be considering.
So, until next time, don’t forget to Mind Your Diamonds!