The idea of buying loose diamonds has recently been seeing a lot of action and a good number of these are wholesale purchases. Indeed, these precious stones can be considered as wise financial investments considering their rarity and their value in case you want to sell them.
Unlike diamonds already set in jewellery, there is more transparency with loose diamonds based on quality and grade. This means that jewellers can make competitive prices for these, which in turn gives the customer the opportunity to choose the best price possible. Also, you can save the loose diamonds for later use in case you have not yet decided on the jewellery you want to use it for.
So, if you’re interested in buying wholesale diamonds, here are some considerations:
1. Don’t buy the cheapest!
When deals seem to be too good to be true, they probably are scams and frauds waiting for victims. Remember that you are looking at purchasing premium quality loose diamonds. Quality does not come cheap; it always comes at a price. If diamonds are sold at cheap prices, then you should consider that as a red flag.
Look for the fair and competitive prices, not the cheapest nor the most expensive. Unethical jewellers who are able to offer cheaper prices than the market value and promising huge savings are most likely selling lower quality, uncertified diamonds. What’s worse is that you may be getting ripped off and paying more for sub-par quality goods.
Buying a loose diamond at wholesale price will ensure that you are getting the best deal, but you should also make sure that you are getting premium quality and properly certified products. This is one of many assurances that dealers and jewellers like the reputable Diamond Brokers Queensland offers wholesale diamonds to their buyers.
2. Only buy certified diamonds.
The Gemological Institute of America Inc. (GIA) is a trusted name in diamond grading and gem identification all around the globe. This means that a GIA report can be treated like an expert’s statement on the identity and quality characteristics of the gem analysed. Hence, if you want to buy wholesale diamonds like a legitimate jeweller, you should only buy GIA-certified diamonds.
Diamonds are evaluated based on the 4 Cs and a number of other factors. Specifically, the GIA diamond grading standards evaluate Carat Weight, Colour, Clarity, and Cut, along with Polish and Symmetry, Diamond Fluorescence, and Laser Inscription. The inscription on a diamond’s girdle is for added security and identification. The inscription indicates the item’s GIA report number.
You can also trust diamonds that are graded by the American Gem Society (AGS), which is also among the world’s highly respected gemological laboratories. Diamonds graded by the AGS are analysed for their colour, clarity, cut, and carat weight. The AGS numerical grading system corresponds to a grade on the GIA’s internationally-accepted diamond grading scale.
Other than these reputable organizations, in-house certifications made by “diamond wholesalers” or jewellers by themselves or some unknown gemological laboratory should not be acceptable to you as a buyer.
3. Check refund and return policies.
If a diamond broker or distributor is legitimate, they should be confident with their products and will have no problems with a 100% refund/return/replacement policy. Look for vendors who offer an unconditional money back guarantee for at least two weeks to a month from date of purchase. Fraudulent sellers will be unable to provide any of these refunds or replacements or will do so at additional costs.
Hence, for your security, it is always recommended that you have all these policies written down, regardless of where you buy your diamonds.