How & Where to Buy a Diamond
The best way to buy a diamond can be very confusing if you’re new to all of this, which most guys are when searching for their engagement.
Technology & the internet have really changed the ways in which diamonds can be bought & sold.
Where & how you buy is going to have a major impact on the quality of diamond you can get for your budget, as well as your overall diamond buying experience.
Three of the most popular methods of buying diamonds are through a;
- Jewellery Retail Store
- Online Diamond Wholesaler / Broker
- Diamond Broker with Jewellery Studio & Workshop
Each method of buying offers a completely different experience and we’ve outlined this in a bit more detail below…
Jewellery Retail Store
Let’s start with a traditional retail jewellery shop… With all of the associated expenses of opening the doors daily, high rent, staff, stock, and many other overheads, as you might suspect, this is going to be the most expensive way to buy a diamond and piece of jewellery.
To compete with the other methods of purchasing a diamond, jewellery retailers often carry uncertified stock or EGL certified diamonds, where grading detail can be 2-3 grades lenient of actual quality. So you think you’re getting a great deal on a G colour / VS2 clarity stone when in actual fact it could very well be a J colour / Si2 clarity. Not so great value anymore.
While you will pay the most for the ‘retail’ experience, it does offer its advantages as you’ll be able to see and try on stock, as well as purchase immediately. Insist on an Independent Valuation from a member of the National Council of Jewellery Valuers – www.ncjv.com.au (not in-store valuation) to make sure you’re getting exactly what you’ve paid for.
Online Diamond Wholesaler / Broker
Let’s get one very important thing cleared up, there’s no such thing as a diamond wholesaler to the public. The diamond cutting factories & wholesale industry are there to service the trade. If they did start dealing directly with the public, the trade would boycott them and then they would become just another broker or retailer.
So don’t be fooled to think you’re dealing with a wholesaler, it’s just marketing fluff and at the end of the day they are diamond brokers.
At first glance, the online approach to buying a diamond sounds very appealing. There seems to be almost endless diamond options available; independently certified & competitively priced.
But that’s where the appeal stops if you’re hoping to find the best looking diamond for your budget. An independent diamond grading report doesn’t tell you anything about the quality of raw material or its crystalline structure (it’s not all the same), which determines how efficiently a diamond deals with light. Nor does it tell you about light performance; a diamonds brightness, fire, and scintillation, which are the optical qualities we see in a diamond. What about inclusions, are they visible to the naked eye? The huge risks you take by purchasing in this manner are troublesome to say the least.
Keep in mind that each & every diamond is absolutely unique and to find the best looking option, you need to consider many diamonds in your preferred technical criteria and compare them side by side visually.
This is where the online diamond broker fails. They need to pay the cutting factory upfront for the stone and will ask for a deposit simply to bring the diamond into the country. You’ll only have the one stone to view and unless you’re a diamond expert, how can you be expected to know if the diamond is any good visually and really worth buying?
Beware of these ‘certificate brokers’ for the following reasons:
- They don’t know what the diamond looks like, as they haven’t seen it and a photograph can be very misleading.
- No responsibility. As long as the loose diamond belongs to the certificate you decided to purchase from, they really don’t care how it looks or if it represents a quality they would buy for themselves.
- The majority of inventory that appears on international cutting factory lists are the rejects that local suppliers and wholesalers wouldn’t purchase because they didn’t look any good.
Diamond Broker with Jewellery Studio & Workshop
Now while you may find a diamond broker & jewellery studio online, you’ll notice that they’re not trying to sell off an inventory list and they have a physical design studio & workshop that you can visit. This is the more boutique approach to finding your perfect diamond and the way you’ll achieve the very best in visual quality & value for money.
A hard working diamond broker will spend time understanding exactly what you’re looking for and then consider 1000’s of options from the local market to fine tune the top 5-10 diamonds based on technical grading detail. From here, further fine-tuning is made before having the top visual selections sent for further analysis.
This hands-on approach is typically obligation free, so it means you’re not locked into a specific diamond and will allow you to develop valuable reference points in terms or what you like visually as well as what represents the best value.
Here are some of the key benefits to you:
- Obligation free. See and compare before you buy.
- Get educated on diamonds visually, not simply technically.
- No risk. No commitment. No compromise.
- Independently Certified
- Brokerage margins, not high retail margins.
- Direct access to Jewellery Designers & Manufacturers
This is our approach. As unbiased diamond experts, this is the exact way we would buy a diamond for ourselves.
So if you’re looking for a diamond and would like a hands-on education, as well as the opportunity to view some of the most beautifully cut diamonds the world has to offer in the top 10% of light performance qualities, then we would highly recommend getting in touch with us for an obligation free diamond consultation. Click here to start your diamond search with us now
At the end of the day, work with someone you can trust. They should be knowledgeable & passionate about what they do and offer transparent information & education.
How hard they work on your behalf and the experience they offer is equally important too.
We hope that this post has been helpful to you and wish you a very happy and successful diamond buying experience.
Your Industry Insider,
Carl & Edward Swaab
Certified Diamond Network