When purchasing a diamond engagement ring, the two most important things to keep in mind are:
1) ---- Buy the quality that will make her happy, considering that this will be one of the most important purchases you will ever make.
2) ---- Budget only enough that you both feel proud of your commitment to each other, and not so much that the cost becomes a major stress.
that you have decided on a shape, cut, color, clarity, and carat
weight of the diamond of your choice, you are now in a position
to shop around between "Bricks and Mortar" jewelry stores
and Internet Sellers.
When you "shop around" among "Bricks and Mortar"
jewelry stores, stay away from independent or chain retail jewelers
who are located in large shopping malls or large strip shopping
centers. Jewelers located in these type sites pay a percentage of
gross sales as rent, have to maintain longer hours of operation
that requires more employee personnel, and are required to participate
in their shopping mall or shopping center advertising. As a result
of these additional expenses, these stores have much higher operating
"overhead" expenses which necessitates a higher profit
margin to cover these higher expenses. In addition, sales personnel
at Mall or Shopping Center jewelry stores generally lack product
knowledge about diamonds and fine jewelry. This is because these
salespeople have little or no training. Many of them are "minimum
wage plus commission" employees. Ask them a question about
the "4 C's" of diamonds, and their lack of knowledge
Not every "Bricks and Mortar" independent jeweler
(not located in a Mall or Shopping Center) can offer you the lowest
and most competitive price. In order to be able to offer you the
lowest and most competitive price on a particular diamond, the Diamond
Merchant has to BUY that diamond at the lowest price and sell such
a large volume of diamonds that he can afford to sell that particular
diamond at a very, very close margin of profit. The price that a
Diamond Merchant pays for a diamond is determined by how much diamond
buying experience the Diamond Merchant has, the manner in which
he buys, and how he pays for the diamonds he buys. In order to buy
at the lowest possible price, a Diamond Merchant must:
successfully completed the GIA Diamond Grading and Appraisal Course,
at least a minimum of 20 years of Diamond Buying experience, thus
establishing a track record recognized within the Diamond Trade,
directly from Diamond "Cutters" - High quality diamonds
from Diamond Cutters in Antwerp, Belgium - Lower quality diamonds
(from 1/2 carat and larger) from Diamond Cutters in Tel-Aviv,
Israel - and Lower Quality Small Diamonds (from 3/8 carat and
smaller) from Diamond Cutters in Bombay, India. Buying directly
from Diamond Cutters is buying one level away from the Diamond
Mines owned by DeBeers. Buying directly from Diamond Cutters eliminates
two middlemen - The Diamond Dealer and the Diamond Wholesaler.
These two middlemen add a profit of 20% (each), so by buying directly
from the Cutting Factories, an astute Diamond Buyer can save 40%.
addition, an astute Diamond Buyer must buy in "parcel lots"
and "pay cash". A parcel (also known as a "Business")
is a group of diamonds sold together. The price per carat is the
same for all the diamonds in the parcel, or business. A business
can be as small as three to four diamonds, and as large as 100+
diamonds. The purchase of a small business carries a 10% discount;
the purchase of a large business carries a 20% discount. If paying
cash, an astute buyer can save as much as 10%, as opposed to paying
in 90 to 120 days.
at Bennett's Fine Jewelers buy at the lowest possible price.
We buy directly from Diamond Cutters, thus saving 40%.
We buy large parcels, 100+ diamonds, thus saving 20%.
We pay cash, thus saving an additional 10%.
This gives us a Total Savings of 70% as compared to
what other Diamond Merchants pay for their diamonds.
At Bennett's Fine Jewelers, we have a very low "Overhead"
operating expense, and we sell an extremely large volume of diamonds.
Because of these two factors, we at Bennett's can afford to add
a very small percentage of profit to our extremely low cost, thus
we are able to sell you a diamond at the lowest possible price.