Diamonds are among the most revered stones in the world. People looking to give their girlfriends, wives, mothers, and any other woman with whom they have a special relationship an expensive present often look towards diamonds – and for good reason!
However, getting diamond rings or other jewellery means spending a lot of money, since diamonds – which are already very expensive – become even pricier once they are cut and set into a ring. This is particularly true if other jewels and precious metals are also involved in the ring design.
This is why a lot of buyers prefer buying wholesale diamonds, and if this is the first time you have had to shop for diamonds, you should try and look for diamonds at wholesale prices.
But how does one do it?
What are wholesale diamonds?
To be able to know what wholesale pricing in the jewellery industry means, you should first be able to tell retail and wholesale gems apart. Knowing this difference is also important because many sellers using the label wholesale diamond dealers are actually not wholesalers.
Wholesale is a term we use for trading where the trader purchases large orders from manufacturers of a product and, in doing so, is able to negotiate a significantly lower price than what the end consumer of the product will pay.
In the diamond business, wholesale implies the trader buys from the cutter and then sells these loose diamonds to you, the end consumer. This gives you a price advantage in comparison with what you would pay for buying the same stone from a retailer.
Retailing is the next level of trading in commodity markets, which is when the trader buys the products from a wholesaler and sells it for a higher price by adding value and services with the product.
For diamonds, this would be when your jeweller sells you a diamond ring with the services of cutting it, setting it in the frame, packaging it in a fancy box, and giving you guarantees of quality, after sales support, flexible payment options, and a return and/or exchange policy.
Benefits of buying loose diamonds
Now that you understand what wholesale diamonds are supposed to be, you realise these are diamonds where you are buying from a trader who has direct access to the cutter.
Obviously, there are many benefits to buying loose diamonds – which is another name for wholesale diamonds. Some of these benefits are listed below:
You can find a raw diamond with the right size, shape, colour and clarity for a much lower price than you could ever get in a branded jewellery store.
You can have the stone cut exactly the way you want it and have it set in a frame of your choosing.
You can be creative with your design and create your ring yourself.
These benefits basically allow you to use your engagement ring design ideas and give your fiancee the perfect engagement ring that looks exactly like what you wanted to give her. Since diamonds make the perfect present for a girl, you can buy a loose diamond and turn it into something whomever you are giving it will love without spending an obscene sum.
However, when it comes to this part, you have to be careful who you do business with. As we said above, a lot of diamond traders calling themselves wholesalers do not give you wholesale prices for the diamonds they sell.
The strongest and the most competitive company is one which can adapt to today’s business situation in the market and can both sell jewellery and simultaneously deal with wholesale clients.
Reliable wholesale diamond sellers
If you have decided to use a wholesale diamond to bring your engagement ring design to life, you need to first make sure the design you have is practical. To gain this reassurance, you can find a popular online ring creator tool to look for designs close to what you have in mind and see if they actually look nice with a diamond set inside them.
Once this is done, you will need to find a reliable wholesaler to get your diamond from. This is why we are giving you a short list of qualities that you should look for in the wholesaler you buy your loose diamond from. These qualities include:
- That they are GIA certified (at the least)
- That they have some sort of a return or exchange policy (preferably)
- That they have proof of being in the industry for at least a few years
- That they have proof of doing business with popular diamond brands
- That they buy their stones from the cutters directly without a middleman involved
Diamond traders with these qualities will be most likely to sell you superior quality diamonds for the right price. Since they are real wholesalers, they will be able to offer you a wholesale price for your diamond, which is your objective for this whole deal.
Getting the stone set for your engagement ring design
If you have taken the trouble of buying a diamond, this most probably means you are getting ready to pop the question. You can then take the diamond to a jeweller you trust and have the stone set into the engagement ring design you have in mind or pick from their showcase of frames.
At the same time, online ring creating tools are quite popular these days and many of these services are completely reliable. They let you discuss your own design for a custom engagement ring and let you build your ring online.
If you go for one of these online services, make sure they have the right credentials and have been in business for a few years at least. If you want, you can even find people to turn your ashes to diamonds after you die!