The wholesale diamond game can seem a little confusing at first, and a little bit off putting. But because of a bit of patience, there are scores of people who are making an absolute killing by taking advantage of the industry because they have taken the time to understand it. So to help you, let’s start easy. Wholesale diamond buying is basically cutting out the middle man and buying from a supplier of outlets, usually for the specific purpose of reselling them. Sound easy enough? Good, now how about some advice on how to do that like a pro?
Buy in good quantities. The point of wholesale is not to find any single, specific piece. Loose diamonds at wholesale prices are not impossible to find, but it certainly won’t be easy. Buying stones in bundles helps lower the price per unit significantly. It is one of the most basic laws of commerce and there is no reason for it to fail to apply here. Wholesale, in any industry, means taking advantage of this, but if you don’t want to take the risk and spend a fortune, then consider lesser quality stones which won’t be as hard on your budget.
Buy from the right place. Scout a handful of dealers, and try to keep your search local. Adding transport costs and risks to your list of worries is not really necessary. In general, you don’t want to look far, for instance if you are looking for Brisbane diamond wholesalers, Diamond Queensland would be more suitable than a seller from the US. Find out what you can about the dealers you are investigating by reading blogs, viewing their website, and chatting to the people who run the outlet. Don’t be afraid to ask questions if you don’t understand; there’s nothing wrong with learning new things instead of pretending you get it. If you’re planning on being a repeat buyer of stones, then finding the best dealer is very important, so spend time getting to know them and stick with the ones you trust; that’s right, not just the one.
There’s no such thing as buy at the right time. Unlike metals such as gold and silver, diamonds as a commodity, don’t really fluctuate in price at a universal rate which can be measured and predicted according to international markets. The cost is often up to the discretion of the seller, based on the stone’s quality, cut and mass. A good way to get a general overview of what you can expect to pay is to consult some leading authorities on the matter; namely the Rapaport Diamond Report and the Troy Diamond Report, which are published weekly and are aimed at keeping the public updated about changes in the diamond market.
Buy to sell. If you are going the wholesale route, then it is good to keep focus of your goals with regards to why you are purchasing the stones. Now is not the time to be wondering about buying all the stunning diamond engagement rings in Brisbane that you can find, it’s about buying with the intent purpose of selling it again, and that means taking your personal feelings about the stone’s aesthetic value out of the equation. Let your buyer work out whether the stones are pleasing to the eye or not, you’re just looking for resale value at the very best price you can get it at.
When you take a little time to think about it, buying wholesale stones is not very complicated at all. If you enter into any purchasing endeavors with a bit of thought, caution, and patience, you are very likely to get a good deal wherever you look. So why not give it a try?
Photo by Bruce Tsao
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