Wholesale Diamonds – Buying and Selling
We are a national leader in purchasing and selling loose and mounted wholesale diamonds. Take advantage of our seasoned team of diamond specialists. Our team is comprised of thirty Gemological Institute of America (GIA) experts, and a GIA traveling instructor that spent 15 years as a trainer for GIA, training specialists around the country.
If you are looking to purchase a diamond, access our wholesale inventory and avoid paying 30%+ marked up prices at jewelry stores. We have GIA certified stones of all sizes and quality. In addition, we have a significant inventory of investment grade diamonds for the serious investor.
We also understand how important it is for you to obtain the highest prices for your diamonds if you are seeking to sell your stone. Our experts will evaluate your diamonds, jewelry and watches based upon the current market and will work to maximize your price. We have clients around the nation that are waiting to pay the highest prices for your diamonds, estate pieces and vintage watches.
We welcome the opportunity to provide you with a confidential evaluation of your items. All payments for your select items are made by check or cash depending on your preference.
Common Diamond Buying Mistakes
The number one mistake made when purchasing a diamond is to be misled on cut quality.
Being shown two or three diamonds of various cut qualities, in an effort to sell the best of the available options. While the customer may choose the best option shown, it is not necessarily a well cut diamond. It is simply the best of what is currently available at that particular store.
Purchasing a deeply cut diamond. A deeply cut diamond carries more of its carat weight “hidden” in the depth of the diamond as opposed to the width. These poorly cut diamonds are less expensive per carat, and are common in most jewelry stores. A customer might purchase a 1.00 carat diamond that actually looks like a .90 carat diamond because it is too deeply cut.
Because well cut diamonds are more expensive per carat than fair or good cuts, few are carried in traditional jewelry stores. Less than well cut diamonds cost less to purchase, less to inventory, can be sold at a lower price, and turn more quickly in the jeweler’s inventory – so the incentive to carry them is overwhelming.
FTC guidelines for jewelry retailers state that any seller-stated color or clarity grade must be within 1 grade of what it is appraised at by a qualified independent appraiser. This means that if you purchase a diamond that the seller represents as G / VS2, and it later appraises as H / SI1, you have no legal recourse with the jeweler. Unfortunately, this leeway encourages jewelers to inflate their grades; a jeweler who is confident he has a G color diamond is free to represent it as an F.
It is impossible to accurately judge the clarity and color of a diamond once it is set. Flaws are easily hidden under prongs, and color is obscured by the reflections No retailer, dealer, or wholesaler ever has to buy high value diamonds already set; you shouldn’t either.
Color grading is notoriously difficult. GIA goes to great lengths to create standardized environments and training for color grading. Do not accept the jeweler’s grade as a substitute. If a jeweler gives a color range (e.g. “This diamond is color grade G / H”) you can be sure the diamond has not been graded by any lab, much less GIA, and the color grade is not reliable.
If you have doubts about the color grade you are given on a diamond, ask the jeweler if you can compare it to his in-house master color set. A master color set is a standardized set of cubic zirconia stones showing the various color grades. By holding your diamond up to the master set, you should be able to see where it fits on the GIA color spectrum.
Without a master set, or other objective measure, be very careful when comparing color in diamonds. By making invalid comparisons, a jeweler can often sell a customer up on color. For example, a customer is shown two diamonds, one described as “G” color, one described as “H” color; the customer sees that the color distinction is obvious, and decides they should move to the higher color. However, problems with this approach include:
Remember that roughly 1/3 of diamonds have been treated in some way. This treatment is termed “enhanced” or “fracture filled”. While these treatments may make a diamond look better, they can have a negative impact on both the value and stability of the stone. One benefit of diamonds certified by a reputable lab such as GIA, is that any treatment will be prominently disclosed. Without this disclosure, it is impossible for the average customer to recognize a treated diamond.
Often, diamonds (and settings) offered in a jewelry store have no price tag, only a style number or bar code. Alternatively, the jeweler may have a price printed, but use a calculator to figure the discount on each diamond you ask about. Both situations allow the retailer to adjust the price on the spot, based on what he believes you are willing to pay. Be very careful, as the retailer has more experience and more information than you do.
Diamonds virtually never sell for less than their true market value. Sales and coupons do not offer the opportunity to purchase a diamond for less than its value, only for less mark-up than the days it is not on sale. Traditional jewelry stores carry a much higher mark-up on diamonds. Online retailers will reduce the mark-up on diamonds but you do not have an opportunity to see and compare stones in person before you buy. With Fisher Precious Metals you can have the best of both worlds, wholesale (not retail) mark-up and the opportunity to see and consider your stones in person.