With the Internet, you can buy wholesale diamonds at greatly reduced prices, and as long as you do a little research, you shouldn’t have to worry about scams. Although many people have gotten ripped off by “companies” headquartered in basements, if you know what to look for, you can easily spot the Web sites that might not be what they seem. When you buy wholesale diamonds, you could save up to 50% off the retail price, which on diamonds could mean a few thousand dollars. Wholesale means that you buy almost directly from the manufacturer, eliminating the salesperson and the sales pressure, as well. Also on wholesale diamonds, when you buy over the Internet you don’t have to pay sales tax, which could help you save an additional couple hundred dollars.
So how do you make sure that the diamond you want to buy comes from a legitimate online company, and that you’re paying a fair price? To start with the company, you want to make sure that it has an address and phone number so that you know it really exists. If the company doesn’t have this information on its Web site, you’ll want to go somewhere else. Well-known names might offer the safest bet, and you can also read about the history of the company. Once you have determined the legitimacy of the company, then you shouldn’t worry about charging large items online. As you may know, you’re just as safe using a credit card online as in any other store because credit cards leave a traceable history of your transaction.
Another thing you might want to keep in mind when buying diamonds is where the diamonds originally come from, and who mined them. Most diamonds come from Africa, but unfortunately some miners have harmful motives and have a business selling what’s known as “conflict diamonds.” The money from conflict diamonds – or blood diamonds – goes to fund rebel wars against legitimate governments in Africa. In 2003, the U.N., some world governments, and the diamond industry made an agreement to not sell conflict diamonds, and 98% of the diamonds in the U.S. follow this agreement. However, if you feel that a Web site may sound like it could follow the methods of conflict diamonds, then you might want to go to another site.
To make sure that you’re getting the best price for your diamonds, you should do some research and look around at a variety of Web sites. Unfortunately, some Web sites describe their diamonds as “wholesale” while they actually sell at retail prices. If you look around for similar diamond jewelry of similar quality, then you can spot an unfair price. Remember, when considering how much you should pay for an engagement ring, a general guideline is the cost of two months’ salary.
Even though you can look at photographs online and read information about the quality of wholesale diamonds, you still need to have a grading certificate so that you can avoid scams. Don’t get independent certificates from the company selling you the diamond, but always get a certificate from one of the trustworthy, non-profit organizations such as the Gemological Institute of America, the Diamond High Council or the American Gemological Society.
Also remember that you can request that an appraiser look at your diamond before you buy so that you know the company is telling the truth about the value. Often, you can have the diamond sent to an independent appraiser of your choice, as long as he has certification. You can also see the diamond firsthand before you decide to buy it. Before buying, you should also know the return policy. Most places should allow you to return the diamond within 7-30 days so you can feel more confident with a lower risk decision.
By Lisa Zyga