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Wholesale Diamonds: International Tips For 2015


Moti Israeli
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Buying diamonds at wholesale prices is a great way to save and avoid high market prices. There are certain things you need to know first, especially if this is your first time. Here are a few tips for buying wholesale diamonds:

 

Reputable Wholesalers

 

Make sure to only purchase from reliable and well known wholesalers. Do your research online and make a list of wholesalers that are considered reliable and those you should avoid. Some diamond exchange websites offer a list of wholesalers they work with, though it's best to look for reviews from people who have already purchased from the wholesalers you found and see what they say about their products and service.

 

Diamond Certification

 

Only buy certified diamonds. When purchasing a diamond that isn't certified you are taking the chance that is valued much lower than what you paid and has lower grades than stated in terms of carat weight, cut, clarity, and more. Make sure the certificate is issued by a reputable lab, such as GIA, HRD, EGL, or AGS to be sure you're getting what you paid for.

 

Review Terms and Policies

 

Every wholesaler, both online and off, has its own shipping and return policies. Make sure to go over everything before buying. You'll want to search for what kind of shipping they use and if they provide insurance if the diamonds are damaged or lost in transit. Also, return policies are very important - if the diamonds you received are not what you paid for, you should be able to return them for a full refund. Ideally, search for wholesalers who offer a return policy with a full refund, no questions asked, for a limited time (e.g. 60 days).

 

Do Your Research

 

Once you find a wholesaler you know is reliable, with certified diamonds and terms you agree to, that doesn't mean you should go ahead with the purchase. Find another one or two and compare their prices and services so make sure you're getting the best product for the best price. Make the decision based on what's most important to you - whether it's the price or how fast they ship. If you're visiting shops, don't be embarrassed to ask for all of the information you need and move on to the next to compare prices and products. Diamonds aren't cheap and you have every right to do your research and make sure you're getting the best possible deal.

 

 
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Sure.  Selling things one at a time to the end consumer is the DEFINITION of retail.  There's nothing wrong with that but it means that if they call themselves a wholesaler, and what they're actually doing is retailing, you've already caught them in a lie.  The reason for it is obvious and the fact that it's a common practice changes nothing.  It's conceivable but irrelevant that they may do other deals with the trade that could legitimately be called wholesale but this just makes it worse.  They're competing with their own customers.  At best that's stupid but you can bet that what they're telling that trade customer a different story.  They're not just lying to you, they're lying to their other customers as well.

 

Does it matter?  Maybe.  This is a trust based business and I see it as a very bad sign that the first thing out of their mouth is a provable lie.  If they can't be trusted on a tiny thing like that, it raises a serious question over whether they can be trusted with something important.

 

Do you seriously consider EGL to be a 'reputable lab'?

Edited by denverappraiser
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