Diamond Wholesalers: Who are they?

In the diamond industry, diamonds are called raw or rough stones because they are either extracted from the earth or grown in labs. But, whether natural or lab-grown, the finished product (a cut and polished stone) needs to reach the end-user in a timely fashion. How did that shiny loose stone or engagement ring get to the retailer before it was made available for purchase? The simple answer: is the diamond supply chain.

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From one organization or individual to another, this movement starts from the source of the stone. The uncut diamond from the labs or mines is sold to wholesalers and cutters (some of whom are jewelers) before it finally gets mounted onto a ring or pendant.

Several players feature on both the upstream and the downstream diamond supply chain, including miners and human-made diamond producers, diamond manufacturers, distributors, wholesalers, and retailers (jewelers). The typical definition of a diamond wholesaler is an enterprise or individual who buys and sells diamonds in bulk. But what about diamond wholesalers who buy and sell in bulk as well as in smaller volumes (or single units)?

Also, what about the diamond wholesalers who have premises, develop raw stones, serve walk-in customers, or run ready-to-wear jewelry e-commerce businesses? The bulk purchase and sales aspect form part of the nitty-gritty that must be considered in deciphering whether a diamond dealer is a wholesaler. To conclude, carefully examine the factors such as the subject&#;s business model, partnerships, and affiliations in the diamond industry.

To understand the difference between the wholesale diamonds and retail diamonds, you need to know what is a wholesaler and a retailer.

Wholesaler &#; A wholesaler is a person or a business that sells goods in large quantities directly from manufacturers or distributors and resells them to other businesses. Due to high volume purchase orders those in wholesale are typically able to buy products at a lower price and add lower margins.

Retailer &#; A retailer is a person or a business that sells goods to the public in relatively small quantities for use or consumption rather than for resale and therefore when they need to sell the margin will be high.

One of the main considerations when buying a loose diamond is the cost, as we always focus on buying a good quality diamond at reasonable price as possible. One of the advantages in buying diamond from a Wholesaler Company is the cost which is way cheaper than buying diamond from jewelry store/retailer stores.

In diamond industry, wholesale doesn&#;t refers to buying in bulk, it simply means buying at a relatively lesser price than one would otherwise for a retail because no one buys 100 diamonds at once. All loose diamond wholesalers have access to Rapaport diamond average pricing report. It is an industry standard pricing guiding set up in a matrix and includes the prices for different shapes, color, clarity, carat and Certificate. Good wholesalers can sell loose diamonds based on the price listed on Rapaport Price Sheet. In negotiating, the wholesaler might even offer discount on Rap Price.

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It is important to know if you want a certified or uncertified diamond. Because this can affect the price of the diamond. Usually a certified stone is more expensive than uncertified stone. Uncertified diamonds have been cut and polished but for some reasons the seller prefers not to have the diamond quality graded by a diamond laboratory.

When you buy directly from a wholesaler company, you can purchase a beautiful, high quality diamond at a very competitive price. Also, they usually have a wide selection of diamonds that they can offer to you. The price of buying good quality loose diamond from a wholesaler company allows you to save more money in your diamond purchase as there is no middleman and other costs that a store may add on top of the price of the diamond. This is why some people purchase loose diamonds from a wholesaler company for a very cheap price and later decide to upgrade to or trade in for a bigger diamond. Even though buying loose diamond from a wholesaler company is more practical, it is important to pay attention to the actual price you are charged if it was priced as wholesale.

Most of the retailers in order to cover their cost involved in running their store and to make big profits, they tend to increase the price of the loose diamonds considerably. People should understand that retailers are considered as the middleman. They are buying diamonds from wholesalers and add up to 10-30 percent of the real cost then sell to customers for double the price plus the sales tax. They include the profit margin in the cost of the loose diamond which makes it more expensive when they sell the diamond.

After all, who doesn&#;t like to buy something that is better quality at a lesser price? Nowadays, we always keep an open eye for offers and deals but end up paying more than what we should.

You may think that you purchase a diamond at a good deal only to find out that the diamond carries some major flaws like it is chipped, hazy, filled with black inclusions, etc. It is not only about price, you have to consider the quality of a diamond and make sure that you are getting a GIA certified diamond. 

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