Jewelry Buying Information
When you buy a dazzling piece of fine jewelry,
you’re
making an important purchase.
Equally important is the
decision of where you purchase.
Questions to Ask When Looking
for a Jewelry Professional
In addition to looking for a JA member, you should ask yourself the
following questions to help you find the right place to shop.
Do you feel comfortable in the Store?
Take the time to visit the store and ask questions. The ultimate goal is
to find a Jewelry Professional that you trust and will offer you the services
and products you desire. These questions may offer you background
information to help you make a well-informed choice.
 • How long has the store been in business?
• Is the owner or manager accessible?
• How does the sales staff treat you when you enter the door?
• Do they answer all of your questions?
• What types of merchandise does the store offer?
• What services are available?
• What are the credentials of the staff and
management?
• Do they have experience or formal training in jewelry, retailing or
management?
What is the Jeweler’s Reputation?
Ask friends, neighbors or business associates about their personal
experiences with various retailers. You can also contact Jewelers of
America or your state jewelers’ association for information on a particular
retailer. You might consider contacting your local Better Business Bureau
or Chamber of Commerce for a referral.
How to buy a Diamond
 There are a great many things to know about Diamonds and the Diamond Industry.
By reading books and the information available on the Internet, you can learn
a lot, but that still doesn't help you much in physically grading a Diamond
or going through the Diamond buying process. Nonetheless, if you know the
right things you can have better success rate in buying a Diamond for a fair
price. Here is a shortlist of the things you need to know.
Diamond Buyer's Checklist
1. Learn as much as you can about Diamonds. Unless you feel that Dollar Bills
are like so much paper, there are several thousand motivations to "know
your stuff" about Diamonds.
2. Decide and write down, in order of importance, which of the 5C's are most
important to you: Cost, Carat, Color, Clarity or Cut.
3. Once you know what you are looking for, physically visit jewelry stores.
Identify a jeweler who is willing to spend some time with you showing you diamonds.
Look at as many diamonds as you can that match your specs and budget. Make
sure when comparing prices that you compare apples to apples. This can be more
difficult than it sounds. For example, sometimes relatively minor differences
in cut/proportions can have an impact on a stone's price and beauty. Most importantly,
do NOT compare the price of a certified Diamond with the price of a Diamond
which is not certified, or is only certified by an unknown Laboratory. You
may be in for a surprise because the quality asserted by a no name lab may
not match the quality asserted at a reputable lab. Which would translate into
paying more money for something that is less than you thought it was.
4. Always ask for a certificate. There are several Independent Laboratories
out there. The most well-known is GIA, the Gemological Institute of America.
GIA has done a great service by providing the public with a metric to compare
Diamonds and by extension Diamond prices from different suppliers / jewelers
/ dealers. AGS (American Gem Society) follows the guidelines set by the GIA
when they issue their certificate, as do all reputable labs. Nonetheless, if
you don't know the rules of the game, even a lab report may not help you. For
example, as mentioned in one of our articles, you should be aware of the difference
between an appraisal by a G.G. (GIA Gemologist) as opposed to a report issued
by GIA GTL (Gem Trade Lab). Many people believe they have a GIA-backed report
when in fact all they have is a report written by a graduate of the school,
which is a different branch of the organization.
5. The Rapaport Diamond Report (Rap Sheet). There is a standard report of
Diamond Prices known as the Rap Sheet. This officially lists high wholesale
diamond prices in the NY market. The reality is that usually wholesalers speak
to each other about prices in terms of the percentage discount to the Rap Sheet.
How much of a discount to Rap? It really depends on the quality of Diamond
you are looking for. On the wholesale market, Diamonds of some qualities are
sold at a deeper discount to Rap than other qualities. There are market fluctuations
which change according to supply and demand. The best way to know prices for
the specific Diamond you are looking for is to shop around for a Certified
Diamond of a quality range you desire, within your budget.
6. Don't pay a premium for one of the C's only to turn around and get low
quality in another C. While there are exceptions to this rule, for example
if you are getting a great price, why would you pay a premium for a branded
ideal cut diamond and then get a low color or clarity? Save some money on the
brand name and upgrade the other C(s).
7. Is it safe to buy a Diamond on the Internet? Definitely. When this tutorial
was first written, there were many caveats. But these days there are so many
choices and jewelers with a good track record, that you can watch the process
as other consumers purchase and get a pretty good idea of what to expect. Also,
just because you found a good supplier on the Internet, it doesn't mean you
can't make an effort to visit them in person. Of course sometimes distances
make it impractical.
The best advice for an Internet purchase is:
*Select a reputable jeweler
*Choose a Diamond that carries a GIA report
*Make sure you can work with the return policy
*Have an independent appraiser picked out who will verify that the Diamond
matches the certificate.
One important warning about selecting an appraiser. Make sure the appraiser
is not closely tied financially or openly associated with other vendors nor
one that sells jewelry themselves. They may just try to make you feel bad about
the purchase in order to get a commission or sale for themselves. Since most
of the business an appraiser gets comes from referrals by jewelers, many appraisers
consider the jeweler a better "customer" than you who are actually
cutting them a check. The sad economics of appraising causes a conflict of
interest far more often than you might expect.
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