Wednesday, July 18, 2007

DIAMONDS - Know your 4 c's before you buy

If I had a dollar from everyone who purchased a diamond from a large jewelry chain store for the same amount of money I would have charged them. Usually it's the young couple with a budget for a ring in mind, and in a real hurry to announce to the world through the diamond on her finger, "we're engaged". The conversation usually goes something like this: They say, "I just got a great deal on this ring."
"Is this a Certified Diamond?" I say.
"What does that mean?"
"Did they give you a certificate from GIA or someone who is qualified to certify the diamond?"
"No I just have a receipt from my purchase."
I say, "So what is the clarity or color they said the diamond is?"
"They said it was I2 and J color."
Of course my heart sinks as I realize they just purchased a poor diamond for the same amount I would have charged them for a much better diamond. They were the ideal customer to walk into the typical jewelry store. They didn't know the 4 c's and their lack of education was just what the salesperson loved. The poor quality diamond they purchased would have likely been there for sometime, and turned down by more diamond educated consumers. So in turn, the store, not knowing how long it would be before the next uneducated in diamonds customer would walk in, unloaded it for what the customer thought was a great deal. The store probably showed them a near flawless certified diamond of the same carat weight, costing considerably more, and said, "I have a great deal for you! Sold!"
Don't get me wrong, there are many reputable jewelry stores that try to explain the 4 c's and the value between the different diamonds, but of course there is always the exception.
In my store location, I have created a free hand-out explaining the 4 c's. If my customers don't understand the 4 c's I tell them, "Take this and study it. You have some homework to do before you buy a diamond. Do some comparison shopping then come back to me." Maybe I'm just embarrassing the customer, but I'm really just trying to help them. If I want a new computer, I really don't know the difference between the most expensive verses the least expensive, so I rely on the (hopefully trustworthy) salesperson to educate me to make the best decision. My knowledge of diamonds is not only based on experience in the business but through a GIA education.
Now through this blog, and my lack of computer experience, I will try to post the 4 c's. Hopefully it will arm you with the knowledge you need to purchase that diamond. Just remember the old saying, "you get what you pay for."

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