Jewellery Monthly
    Facebook Twitter Instagram
    Jewellery Monthly
    • Retail News
    • Jewellery
      • Jewellery & Diamonds
      • Education
      • Designers
      • Fashion Jewellery
    • Watches
    • Bridal
      Featured

      A Love Story from A Couple Who Couldn’t Afford an Engagement Ring

      By JewelleryMonthly2020-05-09
      Recent

      It’s official: these are the most popular times of the year to propose

      2022-08-26

      A Love Story from A Couple Who Couldn’t Afford an Engagement Ring

      2020-05-09

      Important Tips For Buying A Vintage Engagement Ring

      2020-05-07
    • Info
      • About Us
      • Our Audience and Visitors
      • Ring Size Chart
      • Anniversary Gift List
      • Diamond Size Guide
    • Contact
    Thursday, March 23
    Jewellery Monthly
    Home»Education»What factors influence your diamond buying process?
    Couple buying jewellery pointing at necklace in display case
    Education

    What factors influence your diamond buying process?

    JewelleryMonthlyBy JewelleryMonthly2018-10-267 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    What is important for you when choosing a diamond – the colour, clarity or size? Do you understand how these impact upon the price? What safeguards should you have to ensure that you are getting what you paid for?

    Imperfect information sources of the customer
    I have always witnessed customers grapple with understanding the 4Cs (Cut, Colour, Clarity, Carat Weight) of a diamond and their influence on the price of the diamond. Unfortunately, the customer has limited or incomplete information. They are not expected to be knowledgeable or experienced, hence they obviously rely upon the salesperson to provide that knowledge.

    However, most salespeople are not diamond graders either. They may have been given a degree of training by the employer to interpret the 4Cs; but essentially, a salesperson will work on your emotional side to build that trust and secure a sale. Don’t get me wrong, I am not saying that all salespersons are dodgy and are just out to get your money. Sure, there are those who are aggressive in their sales techniques, sadly speaking. However, I have worked with a number of salespeople who even though they may not have an in-depth knowledge of grading, they were very genuine in their sales approach with a view to build truly wonderful and long cherished customer relationships. Diamonds are after all a luxury product and the process of building trust, providing genuine information, and thereby, creating long lasting relationships matter hugely.

    The other source of diamond information for customers is the internet, media and friends. Neither of which are perfect sources.

    I often find a customer who wants a high colour and high clarity diamond and their entire buying decision process is reliant upon the information in the diamond certificate. There are two issues here. First, the concept that a high colour and high clarity equals a sparkling diamond. Wrong. I will address this later in this piece. Secondly, the customer will waste weeks and often months “shopping around” and comparing numerous certificates before they make their final decision. This has made the buying process as though one is buying a commodity. Wouldn’t it be much better to enjoy the experience of choosing a beautiful diamond regardless of what the diamond certificate says?

    How do you know you are getting value for money?
    Imperfect information on the 4Cs and their impact on price can make things very confusing. It becomes hard for the customer to know whether they are really getting good value for money.

    I give below, a table of the 4C’s of a diamond and rate their effect on price and beauty:

                                                   Price                   Beauty

    Cut                                             $                          Most
    Colour                                      $$                        A Lot
    Clarity                                     $$$                      Some
    Carat Weight (Size)            $$$$                         ?

    I have seen low colour and low clarity diamonds with an amazing sparkle and conversely, high colour and high clarity diamonds which look dead as a door knob. Colour and clarity do not add to the sparkle of a diamond. They add value to it. So, the higher they are the more expensive your diamond will be.

    What is your definition of beauty in a diamond?
    With this in mind, ask yourself:

    • How important is it that you get a high colour and high clarity (and hence pay the high price)?
    • Is the size of the diamond your definition of beauty (‘big is better’)?
    • How important is a high clarity for you? Is it important that if you squint your eyes you may see those one or two imperfections in the stone? And trust me, as you get older, your eyes will find it harder to spot those imperfections, but they will still see the sparkle in the stone.

    What if I show you a diamond with slight fluorescence and excellent light return (sparkle)? Fluorescence is a naturally occurring feature in some diamonds which will give the diamond a blue-ish hue in ultra-violet light. The degree to which it exists in a stone can vary from strong to medium to slight. Stronger grades of fluorescence will devalue the stone. I view fluorescence just like we have our own naturally occurring skin features.
    A slight level of fluorescence actually gives the diamond a beautiful glow and hue and the stone will be somewhat cheaper. So, it is certainly worthy of consideration.

    Then there is the issue of carat weight. How important is it that you get the 1 carat or 1.50 carat? “Magic sizes” are more expensive than their slightly lesser sizes: the 0.80 – 0.90ct or the 1.30 – 1.40ct range. The physical difference in dimensions between say a 0.80ct and a 1ct diamond is so miniscule but the price difference can be 25% or more. It is a demand and supply factor. Diamonds are cut for weight. For some people, size is an ego factor.

    Couple looking at jewellery in a jewellers, zoomed in on their hands on the counter with shop assistant holding ring

    Trust your eyes!
    In some cultures, high colour and high clarity reflect purity. My best suggestion is to actually look at the diamond. Every pair of eyes are different and what is beautiful for you may not be for someone else. So regardless of whether it is a high colour, high clarity or a low colour, low clarity or something in between, if it sparkles to you that is your answer. Enjoy the experience of this process. Don’t base your decision on the diamond certificate. Yes, the diamond certificate is important, but it should be a means to confirm that the information given to you by the salesperson is true and certified.

    What can you do to ensure you get what you pay for?
    That brings me to another critical factor in your diamond buying process. The importance of the diamond certificate and a valuation for insurance purposes. Here I would simply like to site an example – extreme and unique as it may be; however, a worthy one to learn from:

    Paul Alfonso purchased two diamonds from the international master jeweller, Nirav Modi. Nirav Modi was once ranked by Forbes as India’s 84th richest person with a net worth of US$1.74 billion. The first diamond Alfonso purchased was a Round Brilliant, 3.20ct, D/VVS1 for US$120,000 and the second an oval cut, 2.5ct for US$80,000. Money was wired to Modi’s bank account and the stones delivered. The customer was promised that the diamond certificates would be couriered to his house. The certificates never came. The customer subsequently discovered that the stones were false and soon after, news broke that Modi was responsible for the biggest bank fraud in Indian history. The customer lost his money and his fiancée. Read the full story here.

    This is not to suggest that every jeweller is a fraud. It is an extreme example. But it highlights the fact that even though you should not base your buying decision solely on the diamond certificate, having that certificate and an appraisal from a valuer is important for your peace of mind.

    So, shop wisely and most importantly, enjoy the process of looking at the sparkle of the diamonds. Your eyes never lie and you will get to a stage in the process where you will be able to see which stone sparkles the most to you. That is your answer.


    This article was written by Amit Laxman, Radiant Diamonds, Melbourne, Australia.

    Radiant Diamonds specialise in the manufacture of bespoke jewellery using naturally sourced fancy coloured diamonds and colourless (white) diamonds.
    http://www.radiant-diamonds.com/


    For further education articles all about jewellery:
    https://www.jewellerymonthly.com/category/jewellery_education/

     

    buying guide Jewellery Buying Jewellery purchase Money Right Jewellery
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    JewelleryMonthly
    • Facebook
    • Twitter
    • LinkedIn

    DISCOVER, LEARN & LOVE JEWELLERY with Jewellery Monthly Magazine Jewellery Monthly is the No.1 online Jewellery News resource. Bringing you the worlds most beautiful Jewellery, Education, Information and resources within the Jewellery Industry.

    Related Posts

    Jewellery Apprenticeships: A Guide For Apprentices and for Business

    2022-08-16

    Gold versus Silver over the Years

    2020-03-24

    Do you own a fake diamond? know the truth about your ring.

    2019-08-31

    Lab Grown vs Real? Should I propose with a lab grown diamond ring?

    2019-08-07

    How To Choose The Perfect Ring That She Will Love

    2019-06-27

    The best value 1ct diamonds

    2019-05-29

    Comments are closed.

    Jewellery news, articles and events.

    DISCOVER, LEARN & LOVE JEWELLERY with Jewellery Monthly, the No.1 online Jewellery News resource. Bringing you the worlds most beautiful Jewellery, Diamonds, Education and Industry Information.

    • Terms
    • Privacy
    • Cookie Policy
    • Sitemap
    • Contact

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
    Cookie SettingsAccept All
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT