Buying a diamond is an exciting purchase. Whether you are looking to buy diamonds as a gift, for yourself or even an engagement ring, you want to feel that you are making an educated decision. The diamond market is constantly changing, making it important to buy diamonds from experts who know how to accurately price and value stones. So what is the best way to buy diamonds?
Where to buy diamonds and diamond jewelry for the best prices?
When looking for a trusted diamond seller, you will want to thoroughly research the company and check their online reviews. Below are some of the most popular choices for buying diamonds, with their respective pros and cons listed to help you decide weigh up your options.
- Gemma by WP Diamonds
- Blue Nile
- Retail Stores
1. Gemma by WP Diamonds
Gemma by WP Diamonds is the most financially savvy and eco-friendly way to buy diamonds and diamond jewelry. Their wide selection of pre-owned diamonds and diamond jewelry are available at up to 80% off retail. Best of all, buying pre-owned diamonds means that you contribute nothing to the ethical and environmental problems caused by diamond mining.
- Low Prices: Pre-owned diamond and designer jewelry at a fraction of the retail cost. Choose from luxury brands such as Tiffany, David Yurman, Harry Winston and much more.
- Eco-Friendly: Shopping pre-owned is the most environmentally way to shop. This reduces the demand for mining for precious metals and stones, which has devastating effects on the environment.
- Payment plans: Affordable monthly payment plans are available.
- Free US Shipping: International shipping is also available.
- Diamond Experts: Their team of GIA trained gemologists authenticate and refurbish every piece.
- Concierge Service: Looking for a bespoke piece? Contact the concierge team to work on creating the diamond jewelry of your dreams.
- Location: In person appointments are limited to NYC but shipping is available both nationally and internationally.
2. Blue Nile
A large and established online diamond retailer, Blue Nile has a huge quantity of diamonds and diamond jewelry with an easy to navigate website.
- Easy Process: Easy to navigate website that offers free shipping.
- Trusted Seller: Founded in 1999, Blue Nile is a trusted name in the diamond industry.
- Quality Images: All of the images on their website are of high quality, with a 360 degree view so you can better assess the diamond before purchasing.
- Good Reviews: They have a wealth of positive customer reviews attesting to the quality of their diamonds and their great service.
- Limited Locations: While they do have physical locations called ‘Webrooms,’ these are only in four states: New York, Virginia, Oregon, and Washington.
We all know of eBay, but maybe did not consider them when it comes to buying diamonds and diamond jewelry. There is in fact lots of diamond jewelry for sale available on eBay.
- Many Options: The size and popularity of this platform means that you have thousands of diamond items to search through.
- Not Diamond Experts: You will not benefit from working with diamond experts who have the necessary knowledge and expertise to accurately evaluate and value the stone.
- No Physical Stores: There are no locations that you can visit, to make the transaction convenient and in-person.
- Poor Customer Service: Because all of the sellers on EBay are selling their own products, the actual EBay headquarters rarely get involved. If there are any issues, it is often a long and frustrating process to get the attention of the main EBay offices.
4. Jewelry Retail Stores
The traditional and local option for buying diamonds, retail jewelers provide the ability to see a diamond in person before purchasing it. There is however one main drawback when it comes to a local retailer: prices.
- Local: buying in your local area is a convenient solution that allows you to physically inspect any diamond item prior to purchase.
- See diamonds in person: Shop diamonds and diamond jewelry in person and try on pieces that you are interested in.
- High Prices and Markups: Due to the slow nature of diamond sales in a retail store, jewelers are known for high mark ups on their diamonds. Since retail shops are physical locations, they have additional expenses that online companies don’t. This can often lead to higher prices and more forceful sales tactics to get you to make a purchase once at the store.
Tips for buying diamonds and diamond jewelry
- Understand the 4 C’s: Diamond grading is difficult and requires extensive training and skill. But at its very core are the 4 C’s: carat weight, color grade, clarity grade and cut grade. As long as you understand these, you have a very basic knowledge of diamond grading and value.
- GIA: The Gemological Institute of America (GIA) is the leading authority in gemology. The most trusted diamond grading laboratory in the industry, they produce diamond certificates with strict standards and honest assessments. Buying a diamond with a GIA certificate ensures that you are entirely aware of the characteristics of your stone. Some less reputable diamond grading laboratories are known to inflate a stone’s grades in order to drive up diamond prices by claiming superior quality.
- Know what you are willing to compromise on: the reality is that no one has an unlimited budget. And diamonds with a perfect color, clarity and cut grade coupled with a high carat weight are not only extremely rare but also extremely valuable. Be clear on what your priorities are. Are you set on getting a large diamond? In which case consider a lower color or clarity grade so as to stay in your budget. Is color grade important to you? Then consider a lower carat weight. Much like buying a house or a car, buying a diamond requires a clear sense of your must haves and nice to haves in order to stay within your chosen budget.
- Buy online: Buying online often translates into better prices. Without the overhead cost a brick and mortar store, online diamond sellers are typically able to provide more competitive prices.