Buying Advice

Walk into any jewellery supplies store (we have two within a block of our office) and you’ll most likely be greeted with over the top prices compared to prices overseas.

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Sometimes, we see people buying a diamond from the US, rather than locally. Whilst some may say you can save money by buying from the US, which is the biggest diamond market in the world, some say it’s just plain absurd.

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I’m sure most people would think twice about buying a diamond (or two) from a stranger in a McDonald’s.

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One of the perils of selling jewellery online is that at some point in time, the customer will need the ring resized, polished, claws tightened and so on. A ring, like a car, isn’t maintenance free. So, they will take it to a local jeweller, who will use the opportunity to try and drum up some business and badmouth online jewellers.

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Everyday it seems that another diamond website offering thousands of stones. Conversely, everyday it seems more and more jewellers and diamond retailers complain and even slander these websites.

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It’s a catch phrase that is becoming increasingly popular nowadays - “wholesale prices, direct to the public!” But what does that mean?

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TheStreet.com is reporting on how diamonds aren’t exactly the best investment you can make. That might be true, but if you buy carefully, then at least the diamond will hold its value.

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With an increasing number of online diamond websites popping up everyday, and diamonds being viewed more and more of a commodity, most people overlook the importance of the actual dealer and what to look out for. As the old saying goes “Choose your jeweller or diamond merchant before you choose your diamond!”

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It’s common practice for a jewellery retailer to give a “free valuation”. Whilst this is, in a lot of cases beneficial to the customer, what meaning does it has, and what is that piece of paper useful for?

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1. Looking for the cheapest price. The cheapest price will almost always result in the “cheapest” diamond. In addition to that, almost anyone can be undersold. When buying a diamond, it is best to look beyond the price and look at the overall value offered by the vendor.

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