Diamonds, big or small shine and sparkle in a way that draws your eye. As Marilyn Monroe once said, “diamonds are a girl’s best friend” As a girl, receiving your first diamond is a big deal. Mine was for my twenty-first birthday in a beautifully simple necklace. Many girls are too shy to admit that they in fact have been dreaming of their diamond wedding ring since they were very young. Come on girls, we all know you have that secret Pinterest board with thousands of variations of your wedding ring pinned! Diamonds are the most sought after item for jewelry consumers. But have you ever thought of where they actually come from?
Diamonds start their lives in a mine somewhere in Russia, parts of Africa or Canada. Next they are sent to wholesalers and distributors who price the diamonds and consult with their clientele to sell them to jewelry stores around the country. “I am a wholesaler, I get diamonds directly from the diamond cutters and I sell them to specific retailers I have relationships with” says Leon Well, a diamond wholesaler and owner of the company Weldiam out of New York City. Wholesalers used to depend solely on their relationships with their clients. They would build trust and personal relationships with their retailers in order to continue successful business. Today, Leon says, the competition in the diamond business has gone up and things have changed. “There was a time when personal relationships meant a great deal. Today diamond wholesaling is very impersonal there is very little loyalty and no need to develop relationships the way I used to” Leon says.
Leon is the middle -man between the diamond from the mine and the retailer. “There are probably four hands that touch the diamond before it reaches the consumer. First the diamond is mined, then it goes to the cutter who shapes and perfects the diamond, from the cutter it comes to me and other wholesalers, then we get it sold to a variety of retailers,” Leon says. When the diamond makes it to the jewelry store they are loose and on their own. They come in different shapes, sizes, and cuts including; princess, cushion, heart, oval, pear, marquise, radiant, and emerald. No matter what the size, the same amount of work goes into the diamond.
Diamonds are not known for being cheap, they are expensive because of the amount of time that goes into making them, shaping them and the amount of people who touch them. Willa Dickens, one of three owners of Iowa City jewelry store Herteen and Stocker discusses how prices of diamonds have fluctuated throughout the course of his 65-year career. “Prices have almost always gone up through my years in the business. There was a period of time where prices were greatly exaggerated, they jumped drastically then dropped back down.” Dickens explained, “It goes up based on demand. When I started 65 years ago a third of a carat diamond was $200 and todays its $1200 that’s quite a jump!”
Just as wholesalers build trust with their clients, fine jewelry sales associates work to build trust with jewelry consumers so that they know they are getting the best price. Mary Van Buer, a former fine jewelry buyer for Von Maur department store gives a better understanding of the benefits of a “brick-and-mortar” store versus an online store, “they are able to offer services after purchase. Customers in our store have the benefit of viewing and comparing several diamonds and their prices in one sitting before actually making a purchase. Purchasing diamonds online doesn’t give you that luxury, you are kind of just hoping and guessing.” Mary says, “along the same line, in the diamond world cheapest is not necessarily the best value – you usually get what you pay for.”
Willa advocates for brick-and-mortar jewelry stores because, “if you deal with a reputable merchant you can come in and have your diamond cleaned and checked at no charge. You might spend a little bit more on a diamond in our store but you are going to get more out of it.” Not getting to see the diamonds in person makes it difficult to know whether or not you can trust the piece of jewelry you are going to get. Fine jewelry stores that have been in business for many years have the ability to make clients for years, with the business of their children and their children’s children. “by giving good service you build friendships allowing those consumers to have the best possible jewelry buying experience,” Willa says.
Diamonds are special because they come in all shapes and sizes, they sparkle with intensity whether they are big or small. It is important to know all of the work that goes into a diamond before it reaches a person’s finger giving the owner a better appreciation for it. Because after all, diamonds are a girls best friend!
Thanks for reading this weeks post,
And as always,
Peace, Love and Jewels 🙂
For the Love of all Things Jewlery 