Think Twice Before Buying Diamonds Online
Being a jeweller means that you learn your craft in a profession that has been around for thousands of years. Old traditions die hard, and each jeweller has his or her particular ways of doing things.
In my case I work from a studio in the inner west of Sydney – no trays of rings in cabinets, window displays, or catalogues. What I do instead is meet with clients like yourself and design custom engagement and wedding rings (and other types of jewellery) for clients all over Sydney. With your input, we work together to design a piece that is completely representative of you and your partner.
The Internet of Everything
One big change that has been affecting the industry in recent years is the rise of online buying of diamonds. The internet was once a place where people were comfortable buying relatively low priced things like books and DVD’s. But as people became more familiar with online shopping, the value of the things they purchased grew to include things like phones, sporting equipment, and furniture.
And now, it seems like the winds of change have reached the jewellery and diamond industry, with numerous sites being set up to serve those buyers who want to buy precious gemstones and jewellery online.
But is it A Good Idea?
There are certainly some benefits to buying things online. The first is the fact that you can compare from a range of sources in one place, rather than having to physically visit numerous stores and compare quotes.
The other main driver of online purchases of any kind, not just diamonds, is lower price. This sort of advantage saw online stores like Amazon and The Book Depository put traditional bookstores like Borders and Angus & Robinson out of business.
But along with the positives come some notable disadvantages.
The first is that you don’t get to see what you are buying in person. That might be fine for things that are “commodities” and don’t differ greatly. But every diamond is unique, and that means that the vast majority of people want to see it with their own eyes before buying.
The other notable disadvantage for Australian buyers is that prices are generally in US dollars. While that was fine when the Australian dollar and US dollar were roughly equal, now it puts us at a disadvantage of about 20% in terms of price.
Jewellers also usually charge a setting fee for those who BYOD (bring your own diamond). Once you take into account the currency and setting fee, as well as the fact that some online jewellers may inappropriately grade stones, you have to ask yourself whether the advantages are outweighed by the negatives, both in cost and peace of mind.
As a jeweller in inner west of Sydney I create custom designed rings with you. Each is unique.
If you’d like to know more about how I work to deliver you a original piece, I encourage you to give me a call and arrange an appointment so we can meet in person and begin the creation process.
Sources: client information
Copyscape: Passed at 2 December 14