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are the prices on diamond review wholesale.


s.samuels
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When I went to business school, we were taught that 'retail' meant selling things in small quanity directly to the end consumers. Obviously, that's what's going on here.

 

'Wholesale' and 'retail' are not really concepts that apply to the modern diamond trade. At least 90% of the retailers describe themselves as wholesalers and they therefore call their prices 'wholesale'. There are even published price lists proclaiming 'New York 47th street' wholesale prices. Does this make it a good deal? What is wholesale? Is wholesale on 47th street higher or lower than, say, wholesale in Brooklyn, Aspen or Antwerp? You can bet they aren't selling for their cost so if 'wholesale' is what dealers pay, what do you call what 'wholesalers' pay?

 

I know an easy test to decide if a dealer is a retailer or a wholesaler. If they will sell a single diamond to an end consumer then they're a retailer. If they describe themselves as wholesalers, but act like retailers than they are either lying to you or lying to their wholesale clients. Either way, you've learned something about their character and have an important clue about whether you want to do business with them.

 

Neil

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