How To Save A Ton Of Money When Buying Diamonds
Congratulations. You are just about ready to buy a diamond. Perhaps you have finally proposed to your girlfriend, or maybe it is an anniversary gift for your wife of many years.
The question is where you should buy your diamond. The old fashioned way would have you going into the shop of a local jeweler and having him tell you which diamond to buy, since they all look the same to you. Nowadays though, there is another, a better, option.
The better option is buying your diamond online. There are numerous benefits to buying diamonds online, while there is only one benefit to buying the diamond in a bricks and mortar jewelry store.
If you are buying the diamond in a bricks and mortar store, you have the obvious benefit of being able to see the diamond before you buy it. You get to hold it in your hand and inspect it to the best of your ability. You can look at it under the lighting, and lay it up against a couple rings and get a good idea of what it might look like on your wife’s finger.
The drawback of this is that even though you get to hold and look at the actual diamond before you buy it, if you are like most people you probably have no idea what you are looking at and how to evaluate the worth of the diamond in your hand. And you will be paying 20%-30% more by buying it from the jeweler just for that advantage of getting to see it.
Bricks and Mortar stores have a lot of overhead. They have to pay rent, they have to stock an expensive inventory, they have general overhead such as salaries, electricity, water, and the like, and all that gets added to the sales price of every item they sell.
When you buy diamonds online you are really harnessing the power of the internet. The major benefits you achieve in this are the amazing savings you will enjoy, along with the vast inventory available to you.
When you walk into a B&M store, you are limited to the stock of diamonds the jeweler is holding in his safe and display cases. When you are buying the diamond online, you have access to a vast amount of diamond merchants and all of their inventories all from your living room couch. If you inspect the inventory of one online diamond merchant and didn’t find what you are looking for, you still have access to inspect tens of other online diamond merchants, each with their own considerable inventory, without ever getting up from your couch.
The most important benefit, though, of buying diamonds online, is the price. The financial savings is the issue that most people care about the most. Because online diamond merchants have no overhead, or very little overhead, they are able to offer their diamonds for sale at much lower prices.
The lack of overhead allows the diamonds to be priced lower. This will give you savings usually in the range of 20%-30% and sometimes even more!
Is the ability to look at a diamond, even though you probably don’t know what you are looking at, worth 25% more? Think of it like this – if you were buying something for $10, you might be willing to pay $12 just to have that slight extra confidence because you got to hold it first. When you are buying a diamond that is worth $5000, $10,000 or even more, the difference is going to be in the hundreds of dollars. All that extra money being saved by buying the diamond online can either be saved and pocketed, or it can be used to buy a diamond of even better quality than originally planned.
I am aware that this raises the question if you don’t see in advance what you are buying, how would you ever take such a risk, and how do you know what you are going to get. That is beyond the scope of this article, but rest assured that there are simple solutions built in to the online merchants so that you will be confident in your purchase, and to ensure that you get what you paid for.
Bio:
Phil Golden is the editor of Clarity of Diamonds where Phil uses his vast experience to help you get the most for your money and buy the biggest and best diamond within your budget. Phil gives daily recommendations of great value diamonds available online, offers free consultations by email regarding diamonds you are considering buying, and writes articles in layman’s terms so that you will make your purchase with better understanding of what a diamond is.
