Confessions of a Diamond Expert
What retailers aren't telling you…Diamonds are jam-packed with symbolism of love and affection, but buying your diamond should be based on a rational choice. It is important that you choose the right place to buy your diamond, so that you get the best deal. Buying from a well-known, heavily advertised jewelry brand does not mean you are getting the best deal. In fact, you will be surprised how much you can save, without compromising on quality, if you buy from an online wholesaler closer to the source.
Your final diamond price include some big retail markupWhen you buy from a well-known jewelry retail brand you’re paying a couple extra thousand dollars for the store’s prime location, the elegant shop front, the staff and the cost of advertising…you didn’t think all of that was for free did you? It differs per brand and per stone, but it’s safe to say that on average the retail markup is 50%. Imagine what does to the price of a 7 carat diamond.
An ideal certified Diamond is the same everywhereLet’s say you have your heart set on a Round Brilliant 3 Carat, Ideal Cut G Flawless diamond. That would be perfect for both the occasion and your budget. Then it is vital you understand that a stone with the exact same quality features can be found elsewhere. The GIA issues objective diamond certificates regarding the 4Cs and other qualities, which makes it easy for you to find the same stone at a better price. Ideal Cut G Flawless is the same everywhere; the only difference will be the price.
0.1 carat can make a huge price differenceThe easiest way to keep the price down of your 3 carat stone is to go for slightly less weight such as 2.9 carat. Prices increase considerably – sometimes even by 50% - at every whole carat. The 0.02 grams difference is impossible to see, but something you will definitely feel in your wallet.
But it doesn’t feel the same without the brand…This is the point where you have to put on the rational thinking hat - there is no brand on your diamond. A 3 carat stone evokes the same emotion regardless of which store it came from. You can’t wear the shop’s prime location on your finger.
The best way to go about it is to buy your diamond from an online wholesaler such as the Diamond Registry. It’s easier to compare the rates, the prices are much lower because of reduced overhead costs and you will experience more flexibility than you will with any traditional jewelry shop. With that flexibility you could choose to buy a loose diamond separately, and have it mounted afterwards. Combine that with an in-house jewelry design service and you’ve managed to get yourself the best price for a diamond ring that is unique too. Think about it. Why wouldn’t you want to buy the same stone for a much better price?
Published on February 20, 2014 by Nissan Perla
Check the education section for a detailed explanation of the 4 C's.
Learn more about the Diamond's Clarity, understand how the clarity affect the Diamond Prices.
Learn more about the Diamond's Color, understand how a different color can affect the Diamond Prices
Learn more about the Diamond's Cut, understand how the clarity tremendously affect the Diamond Prices
Learn more about the Diamond's Carat (weight), 2 Carat diamond, 3 Carat diamond or 4 carat diamond prices are depending many variables.
Check the loose Diamond Prices
Diamond Registry provides you with a diamond price list which shows an average of the current market pricing trends for wholesale certified loose diamonds.