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The Diamond Business: Tricks of the Trade

The diamond business is a mysterious entity all its own. Those in the business may have been selling diamonds for years and know how to get the most from the sale of their goods. When shopping for diamonds, many consumers have a tendency to be drawn in by certain tricks of the trade in the diamond business. The following will list some of the common tricks of the trade and help you, the consumer, to be a bit more aware of what is happening behind the jewelry counter.

Sales, Sales and More Sales

One of the biggest things which will often draw individuals in to a jewelry store to peruse the diamond selection, besides picking out an engagement ring, is when they see sales advertised. Sales ads put out by jewelry retailers prompt individuals to hop into their cars and head to their local mall to check out the diamond selection and the jewelry store which is "slashing prices" on diamonds. The fact of the matter is that the jewelry store hiked up the price of the diamond so much and then reduced it to make it appear to be a great deal. In fact, you may find a different store offering that same diamond ring or other diamond jewelry item at a regular price which is less than your wonderful sale diamond. Therefore, try not to jump at a sales ad which shows a price which appears to be too good to be true.

Sold Out Ad Items

Another "trick of the trade" in the diamond business is when the jewelry store will offer great sales on diamond jewelry and then once you arrive to buy your gemstone you find that the item is sold out. When at the store, you are in the clutches of the jewelry store clerk who will try to sell you a more expensive piece. This is the point where you should thank them politely and then leave. Try not to be susceptible to buying something simply because your sales item is sold out. If you are really interested in purchasing diamond jewelry, then waiting a little while longer will be well worth it in the end.

The Grading Trick

When you go to a store to purchase a diamond, you will usually inquire as to the grade of the stone. The jeweler will tell you that it is a certain grade according to the 4 C's scale. However, you may be getting less than what you think the diamond truly is with regard to grade.

The Federal Trade Commission (FTC) which monitors and makes rules pertaining to commerce requires that a diamond be graded within one level of what it is, such as the color and clarity grades. Therefore, a jewelry store can grade a stone one better than what it really is and have this be a perfectly legal practice. This is often discovered in post-purchase appraisals and the buyer of the diamond feels disheartened and taken by the jewelry store.

With this in mind one should always insist on a GIA or AGS Diamond Grading Report

There are many tricks of the trade within the diamond business however these are some of the more common ones. No matter how honest a jewelry store clerk or jeweler may appear to be, always use your common sense to ensure that you are making a wise purchase.

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