Ready to buy a diamond, but not sure where to start? There are many options available when it comes to shopping for diamonds, from online stores and brick and mortar retailers to wholesalers. Which is the best place to buy a diamond? We've done the leg work for you and summarized each option below.
Online stores are widely viewed as the best place to buy a diamond because of the convenience and affordability offered by these retailers. Shopping online can be done from anywhere at any time of day, and customers can open multiple tabs or windows to do comparison shopping between retailers.
Because online retailers do not have to pay for an actual storefront, they’re able to offer lower prices on their diamonds and still make a profit. Not having limited shelf space also means that online retailers can carry a much larger selection of diamonds than their brick and mortar counterparts. Online retailers are the best place to buy a diamond for customers who are looking for a unique stone or setting at a lower price.
Research the seller prior to making a purchase. The best place to buy a diamond online is a retailer that offers benefits such as low price guarantees or lifetime warranties.
Be sure to utilize live chat features available on most diamond retailer websites. Have these knowledgeable representatives answer any questions you may have to ensure that you choose the perfect diamond.
Many people view the process of buying a diamond as exciting and intimate. If this is the case for you, the best place to buy a diamond may be a brick and mortar retail store. Here, customers can physically touch, try on, and ogle over pieces before purchasing them. However, the downside is that these retailers have high overhead costs, so the prices are 30-50% higher than you would find online or from a wholesaler.
If you crave the instant gratification of bringing home your purchase the same day, and the diamond that you desire is fairly standard, then retailers may be the best place for you to buy a diamond.
Go to a shopping mall so you can visit multiple jewelry stores and also browse through the department stores’ inventory. This way you’ll be able to do comparison shopping without having to travel too far between stores.
Before you buy a diamond, ask the salesperson to show you the stone’s certification. This document will confirm that the diamond is what the salesperson says that it is, and is important to hold onto to protect the stone’s investment value.
What are wholesalers? These companies sell large quantities of product to both online and brick and mortar retailers. Because wholesalers make their profits by selling in bulk, their prices per loose diamond are significantly lower than what you would find through a retailer.
Most wholesalers typically only sell to clients that are willing to buy in large quantities, but there are circumstances where a wholesaler would offer a one-time customer a deal on a single diamond, especially when you are referred to the wholesaler by his or her friend or family member. The price would most likely be significantly lower than what you would find in retail stores, and equal to what you would find online.
Consider buying a few loose diamonds to create a custom multi-diamond ring or bracelet. Wholesalers will most likely give you a better deal when you purchase multiple stones.
Prepare to meet with a wholesaler to learn the basics about diamonds. Unlike online or brick and mortar stores, wholesalers will not spend the time walking you through the 4Cs.
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