You’ll never guess how often we’re asked about “this seller is cheaper than you, why can’t you do it cheaper?”…………….

This guide will hopefully help you understand the “cheap diamond” myth…

In a basic message, there is in no certain terms, such a thing. We know so many different suppliers all around the world. Some specialised into different areas: -

• Low quality goods,
• High quality goods,
• Small melee goods,
• Big carat goods,
• Round brilliant shaped goods,
• Fancy shape goods,
• And the list goes on and on………...

If we start from our diamond suppliers perspective. Some are solely manufacturers and some are solely wholesalers, and most are a mixture.  Each of these supplier types will share diamonds with one another…….even the manufacturers. For example, if one supplier has run out of a particular size, they call another supplier up and ask them for a parcel of goods which they can keep for a certain amount of time. No matter what, each supplier type will sell a like for like stone at pretty much the same price. Albeit a few percentage discounts here or there (which they will recover from you on another sale…..as is the way the discount world works).

However, there are savings to be made, by going to diamond suppliers who specialise in certain goods, mentioned above, they bulk buy in those areas. This means because they get their goods at a good price they can sell to the retail trade at a good price. We buy from those suppliers…….well made goods, of high quality at a good price.

So all in all there is no such thing as a cheap diamond. Around the world diamond prices are basically the same. If one supplier went against the trend and sold at dirt cheap prices they would soon be found out and shunned from the industry.

Ermmmmmm…..you still haven’t answered the question

Ok, but it was important for you to understand the background. So now for the question. Why do different sellers sell what seems to be equivalent diamonds (in terms of colour, clarity and carat) at varying prices?

I can guarantee you that all web based sellers or all shop based sellers will have similar mark-ups (according to the "bases"). So where is the difference coming from. To answer this, we need to go into the diamond and mount.

So if colour, clarity and carat are the same. That leaves cut and certification from the so called 5C’s. How well cut a diamond is is the single most important factor in determining a diamond’s brilliance, fire and scintillation and one of the main factors in a diamond’s price. As an example, please see the table below. It shows to comparable diamonds but one with a better cut grade. Also included is the price difference between a VS1 and VS2 diamond of equivalent cut grade. The figures have been taken from one of our suppliers and are the prices we would sell at.

Shape               Colour Grade             Clarity Grade             Carat                Cut Grade               Price
Round Brill         F                                  VS1                             0.50ct                Excellent                  £1495
Round Brill         F                                  VS1                             0.50ct                Good                       £1200
Round Brill         F                                  VS2                             0.50ct                Excellent                  £1375

It’s worth noting here, that in the UK, most diamonds sold on the market are of Fair to Poor cut grades………we avoid those like the plague. In fact, cut is so significant to a diamond that it affects it's price by upto 50%. So the difference in price between an Excellent cut and a Poor cut grade could potentially be as much as 50%......a massive difference. This is such an important and often neglected concept, so we have created a completely separate guide to help you grasp it, called Cut Quality...........It's Impact on Beauty and Price. It's essential reading and cannot recommend it enough. Buying diamonds is a big thing, and you should know exactly what you're letting yourself in for.

So, now you know one of the reasons for the price difference………..one will sparkle like a dream. The other is dull and lifeless………at the end of the day your loved one is going to want some sparkle on their finger, not a dull pebble.

Have you looked at the diamond certificate carefully, is there heavy fluorescence (light fluorescence is ok…..but heavy can make the diamond look milky in natural daylight)?........do the measurements of the diamond add up, for example, is the princess cut square or rectangular?.......what is the symmetry of the diamond like? A poor symmetry can reduce the diamond price by upto nearly 12%......Equally, what is the polish like? a poor polish can reduce the diamond price by upto nearly 12%......has the diamond been fracture filled or treated in some way?....we wouldn't entertain the idea of using anything treated. Diamonds are meant to last forever, treated diamonds don't........there’s more. All these factors can reduce the price of a stone. But the reduction is dependent on how apparent they are.

To add to this, who has the diamond been certified by? Certain organisations are softer with their grades than others. GIA and AGS are the strictest and command a premium when compared to other laboratories. In addition, these are non-profit organisations and have nothing to gain by embellishing the truth. IGI/HRD are okish in their grading. EGL are quite soft, but saying that, you'll find that they are quite a bit cheaper because of it. Please note EGLUSA are much stricter than their European counterparts. There are many out there that aren't recognised and will just grade the diamond as high as possible. There are also companies out there that provide their own in-house certificates and will pass them off as being reputable. Our thoughts on the former two are simple......it's unfair and dishonest.   

And finally………..although not diamond related the quality of the mount and diamond setting work provides another good reason for the price difference between seemingly equivalent rings.

The quality of the mount will always have a bearing on the final price of a ring. It stands to reason, if the mount is light it will be cheaper and vice versa for heavy mounts. Our mounts are always of the latter standard. Our diamonds are always well cut, so why devalue them with a cheap light mount…….quality can only go with quality. The price difference between a light and heavy mount varies from £200 - £300 (web prices, not shop)

In conclusion…………….

There are no such things as cheap diamonds. There are only diamonds and diamonds. At the end of the day, like everything in life, you get what you give. Just remember to consider everything before being dazzled with the price.

Always remember………..if it sounds too good to be true, it probably is.

We really hope this guide has helped. Our aim as jewellers has been from the start to guide the customer and help them make their own minds up. We don’t want to just sell anything to anyone. We want to create a longstanding relationship with our customers built on honesty, trust and quality. The jewellery trade can be an unscrupulous business without the right guidance.
 
If you have any questions at all please let us know, we'll be happy to help.
 
Thank you for your time,
 
From all at Quincy