Showing posts with label Wholesale Diamonds. Show all posts
Showing posts with label Wholesale Diamonds. Show all posts

Friday, October 5, 2012

The Emotional Factor Involved In Buying a Diamond Ring


Buying diamonds can be a risky venture. Why? Because diamonds differ in value based on a range of factors. A bigger diamond isn't necessarily a better choice. If you are not familiar with the various kinds of diamonds available you'll be glad someone is there to guide you through and recommend the best options for you. A good diamond salesperson will not only consider your budget but will make you aware of other factors you need to think about as well such as the style of the setting and the durability of the ring design. Without a comprehensive diamond education you can only rely on the expertise of the salesperson to help you make the best choice for you. A knowledgeable and caring salesperson will be able to guide you through the buying process. This is very valuable, and one of the reasons many people still go to local jewelers even though it is possible to get some pretty decent discounts online. Those who do buy online have to educate themselves, yet very few people will take up a study course just to prepare themselves to buy something that they will only buy once in their lives. Even when buying at a jewelers, this lack of knowledge can be , and has been, exploited by unethical merchants.  If you are unsure about what the various diamond terms mean then the chances of getting ripped off are considerably higher. Due to the wide variety of options one is faced with it is possible to get hoodwinked by unscrupulous sales people. This is why the first and foremost consideration when buying diamonds is to look for a reputable dealer. Ask friends and family if they have had any good (or bad!) experiences. This is going to help you immensely in working out where to buy your diamonds. I should add that even the most knowledgeable people, who are practically diamond experts, have been scammed by devious dealers. So getting educated about diamonds is still not a fool proof way to avoid falling victim to a con. Everyone no matter how knowledgeable they consider themselves should go to a recommended jeweler. And make sure the jeweler is close enough to where you live so you can go back to them and talk with them face to face if needed. 

If you are far away from home when you buy your diamond you'll have no recourse once you get back home as the store is far away and there will be very little you can do. 

This is why it is highly , highly, highly recommended to only go to a jeweler within your area. It's a bad idea to buy diamonds when you are far from home, whether on a honeymoon, or any kind of holiday, business trip, or visiting relatives on the other side of the country, or worse, the other side of the world.

The experience of buying a diamond is a very emotional experience. Yes, an emotional experience. You may be thinking, What? What does that mean? Is my girlfriend going to start crying?

No. Probably not. 

The kind of emotionally charged situation I am talking about occurs from the high level of concern on the guy's part,  mostly to do with the expense, but also from wanting to please his girlfriend, and the girl's concern for his stress levels as well as the hope that he'll be happy with the diamond she likes. The guy will be going over the numbers in his head trying to convince himself that he can handle the expense, while the girl will be thinking about how nicely this diamond is going look and she will also have her friends' reactions in mind. This combination creates an interesting dynamic. Once they have narrowed the choice down to a couple of diamonds or maybe one diamond her instinctive behavior at this point will be to be affectionate toward the guy. this usually happens once she sees there is a particular diamond ring that he has shown only moderate resistance to.

Diamond sales staff, if they are good at what they do, will be aware of the little signs that a couple displays when they are ready to buy. It is going to be nearly impossible for any attentive sales person to avoid noticing the tell-tale body language, because it is repeated so frequently by the many couples who come in to the store with the intention of buying.

Emotions can shut down our logical thinking, and usually do. At this stage many people really can't focus on a lot of things. This is why everyone can be vulnerable and would be much better off going to a jewelry store that has been recommended by their friends as being trustworthy and reliable.

Naturally it is going to be hard to ignore the cost savings to be found by online jewelers. Some of the same things apply if buying online: buy from jewelers who have taken the same ethical way of operating which they applied in their brick and mortar store to their online presence. Getting recommendations from family and friends is still a good idea. Most of them would very likely not recommend buying online if they have never done so. They may even be shocked that you are considering doing such a thing. Mind you it is possible they might change their tune when they hear how much you can save. But think of this. Is it worth saving $2000 only to regret the diamond you end up with?

I know many people that would be unable to hear the rest of what I have to say once they have been told how much money they can save by buying online.  What!? I can save $2000?! That is all they'll be able to think of when they hear that. Everything else is "Yeah, yeah, bla, bla, bla. hmmm save $2000".
That is another example of the logical thinking shutting down when overwhelmed by emotion, in this case it is a kind of greed. Also known as lust. You can see why "lust" made into the catholic "List of Top No-No's" also known as the Seven Deadly Sins.

 There are ways of buying diamonds online where you won't get ripped off. Of course there are. There are a number  of well respected jewelers that sell online and have a huge and growing list of satisfied customers. I even compiled a list of recommended diamond jewelers

However the temptation, when shopping online is to compare only the prices. When buying diamonds there is so much more than just price. For example, how many days are you given for examining the merchandise? Many places only give seven days. I find this an unreasonable amount of time. Ten days should be an absolute minimum. It is also important to have a clear line of communication with the jeweler. Do they answer the telephone? Do they reply to emails? Is it just a one man operation or do they have a dedicated team looking after their customers? Do they offer a generous return policy?

Do a bit of homework and you'll be very glad you did.




Tuesday, August 21, 2012

Can You Recommend A Wholesale Diamond Seller in Antwerp?

Question: Hi Diamond Buying Advice, 

I am keen on investing in diamonds. Where can I find wholoesale diamonds at good prices? I want to include diamonds as a small part of my overall portfolio. If Antwerp is the capital of diamonds how do I go about finding the best place there? I know there are a lot of diamond sellers there. I will be going to Belgium later this year. Thank you for your help with this.

FREDERIC

Answer: Hi Frederic, 

This is the [address and company name and contact number] of the wholesaler in Antwerp. Please let them know that I referred you.

[Note to readers: please email me directly for those contact details, see above right for my email address, TS]

Here are a few comments for those interested in buying diamonds as an investment. You must get the diamond wholesale. Adding the diamond to a ring setting adds unnecessary cost, and this makes it take longer to appreciate in value. 
Diamonds have not always appreciated in value every single year. 1 ct diamonds increase in value 2 to 4% per annum. Large diamonds (5 ct) sometimes increase in value 15% in a single year. Fancies (colored diamonds) have been highly sought after this year and have also enjoyed good appreciation. As diamonds have been harder and harder to find they are becoming scarce. It seems inevitable that they are going to increase in value.

As with any investment you make the money when you buy it. If you get in at a good price.

It is important to exercise good sense when investing in diamonds, and get advice from your financial advisor. The advice I can provide here does not take into account your circumstances and is merely given with the intent of encouraging you to do more research. 

If you have got the diamond bug and really want to invest, and have a clear understanding of the risks involved I can direct you to the best possible exchange where you can get the highest value at the best price.

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