Wholesale Diamonds VIA the Internet .
Q.I like the idea of working with the customer to do special order and custom as part of web sale, and approving waxes and castings, and all this is not only possible on internet, it's a snap . If you are not in the business of buying and selling diamonds, you should not consider a diamond an investment. Does internet give the customer new options and alternatives??? Like never before you are in a place to quantify and establish value beyond any other form of transaction on earth...
A.for loose diamonds, especially the size ranges commonly purchased as solitairs, this situation simply is not the case any more. While it's certainly true that many stores do charge this much, there are plenty of stores, even chain stores, which are more reasonable. Locally in Detroit, for example, one of the larges and best known chains (which I better not name, here) widely known for fairly high prices, will MARK their prices at triple key. But literally every sale is expected to be negotiated down from that starting point, and sales people are told that they may sell at what amounts to a 2.1 x markup. This is a mall chain store, with extensive credit available, and all those warranties and the like. Oh, and the warranties are NOT always invalidated if you don't get it checked. This varies with store to store. The store in question simply asks you to get it checked anywhere, whenever you want. For the warranty to be valid, the warranty card must have been signed off on by a recognized retail jeweler in the local area within 6 months. A gap in the coverage is cured simply by having the ring checked again. They are really quite libral here, and in almost all cases, if there's a problem, the customer is assumed to be in the right. I know quite a number of the local independent stores, some of em quite ritzy. while most of them would LIKE to charge keystone or more on a loose diamond, few of them expect to these days. It's gotton to be a far more competative market than it was even a decade ago, and more than a few retailers are quite happy to make 25% on a diamond sale, especially if it was one they got in on memo. Now I'll admit that's a bit on the low end of what you can normally find. Average, on a carat stone, for example, in the 3 to 5 thousand range, seems to be, according to industry surveys, around a 50% markup. while that's still a reasonably substantial profit, it's a far, far cry from triple keystone. This trend can be substantiated easily enough by looking at appraisal prices. I'm not talking here about appraisals written by sellors. I'm talking about competent appraials written by trained independent and impartial appraisers. In many parts of the country, you'll find diamonds appraising for a considerably lower markup than they did a decade ago. The appraisers are simply reporting the market trends, but understandably enough, more than a few jewelers get a little annoyed at these reports, which can make their jewelry look like it is worth less now than it was then, even though wholesale costs have gone up.
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