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The smart consumer's diamond buying guide.... |
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Diamond Buying Made Easier > Where To Buy Diamonds > Wholesale DiamondsWholesale DiamondsSo you'd like to buy a diamond at wholesale diamond prices! Well, I guess you will first need to find a wholesale diamond company. Where do you start? Look in the phonebook? Look around the shopping malls? Actually it is kind of difficult to find wholesale diamond companies and if you did find one, they might not even let you in the front door. Why? Because if they are truly a wholesale diamond company they don't want you to find them, you are not their customer. Maybe we should back up a bit and talk about wholesale diamond companies...... What is a wholesale diamond company?  If you ever get a chance to visit a wholesale diamond company you probably would be pretty disappointed. Many of the diamond wholesalers that I have been in are basically a simple office setting with desks, maybe a computer, some diamond scales, a few large tables, and some safes. Diamond wholesalers tend to "cluster" together in downtown offices and they do not have offices in popular retail areas because the office spaces would end up being way too expensive. Diamond wholesalers generally have a small staff and have limited hours (no weekends or evening hours). They need to keep their overhead to a bare minimum because their "profit margins" are pretty thin.The wholesale diamond companies generally have large inventories and they need to keep their diamonds moving into the hands of retailers. When their customer, the retail diamond jewelry store, needs a diamond to show a customer they will call the wholesaler. The wholesaler will quote prices and availability of diamonds to the retailer and if the wholesaler doesn't have the proper diamond for them, the wholesaler will then contact their suppliers or other wholesalers in an effort to find a diamond for their retail diamond jewelry store customer. Many of the wholesale diamond companies have extended family throughout the diamond business and they will call upon those connections when doing business. Wholesale to the public? 
This is actually a strange term and I have to laugh a bit every time I see it. If a company is selling something to the public it is not wholesale, it is actually retail, and when "wholesale to the public" is proudly displayed outside of a jewelry store it is really a deception. A retail customer needs many different levels of "service" that retail stores are set up to offer and the costs of these services are included in their pricing structure. If a diamond wholesaler regularly opened their doors to the retail public, then they would soon find that the retail diamond jewelry stores that they have been doing business with for years would not be happy and these retail diamond jewelry stores will no longer want to do business with that diamond wholesaler because now that diamond wholesaler is in competition with them. So where does that leave me? It is difficult, if not impossible, for most people to buy diamonds at wholesale diamond prices and you should be cautious, actually be afraid, of someone who advertises to anyone and everyone that they can sell diamonds at wholesale diamond prices or be extra afraid of someone who claims that by following their secret advice (this means buying their book) you will be able to save thousands of dollars on your next diamond purchase. There has always been these type of sellers who make up some highly inflated price, then they will place a big red "X" through that price, and because you are such a great person, they will sell it to you for 40, 50, or even 60% off the original (inflated) price, lucky you! Price is not the only consideration when searching for a diamond and if that is your only focus, it can then leave you open to being deceived. - Important Take Away Points - |
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