Why buy your diamond from Giraux?
Unlike most internet companies that boast of having “thousands of diamonds”, we invest in each and every diamond before we are willing to sell you one.
To appreciate the value of this process, one must understand the fundamentals of the diamond industry.
Mining companies such as DeBeers source their diamonds and sell them at pre-arranged sales dates called sights. At these Sights the DeBeers clients called Sightholders are offered their rough diamonds enclosed in a specially arranged diamond box, sorted based on their cutting and marketing expertise. The price of any given sight is non-negotiable and not a single diamond may be rejected by the Sightholder. (This will be an important point later in this article)
To maximize the profits of their Sight, the Sightholders have a few choices. They can sell part of their Sight as rough diamonds to other diamond cutters, or they can cut and polish the diamonds themselves. The latter process will take more time, but in most cases will be the more lucrative option.
When the diamond cutting process is finished they can either send the diamonds to be graded by a reputable gemological laboratory, like the GIA, or sell them to expert diamond buyers without a certificate.
At this stage the first tier of diamond buyers and high volume retailers, like Giraux Fine Jewelry, enter the market. Each company negotiates and purchases diamonds that fit their specific needs. At this point the finest polished diamonds on the market are selected. We purchase our diamonds based on the following criteria (not necessarily in this specific order):
- beauty (sparkle, brilliance, cut) what is this?
- quality (color, clarity)
- location and visibility of inclusion
- overall aesthetics (Is the diamond a “good” VS2 or a “bad” VS2 ?)
For the most part, what is left in the Sightholder’s inventory after this first phase of buyers are the following diamonds:
- Diamonds that are extremely rare and expensive. For example a 10ct Emerald Cut D Flawless diamond. These diamonds are normally given on a consignment basis to reputable retailers.
- Second tier diamonds or “internet diamonds”. Diamonds that for whatever reason were not chosen by the first tier of diamond buyers.
This is not to say that all internet diamonds are “second rate” however, you should question why they are still available in the diamond market after the first phase of buyers have made their investments.
While a reputable diamond certificate, like the GIA certificate, can give you 80% of a diamond’s story, there is no substitute for the trained eye. There are many factors that cannot be quantified by a two dimensional diamond certificate. A natural diamond is one of the most spectacular creations in nature. Its durability and superior reflective characteristics have not been found in any other natural material. Formed under great pressure underground for billions of years, the beauty of these naturally occurring gems cannot solely be translated in a two dimensional diamond certificate. Read a copy of a GIA’s disclaimer found on all their diamond certificates.
Many factors can contribute to a “duller” looking diamond, even if the diamond is of extremely high quality and superior cut. For example a cloud inclusion located near the culet of a 2ct D / VS1 RBC diamond can render the diamond milky looking. This is just one example of a “perfect” looking certificate yielding an inferior looking diamond.
An expert buyer who is investing in a product will most likely catch this anomaly, and reject the gem. However, even a savvy internet diamond buyer can make a major error when purchasing such a diamond based solely on the merits of its certificate. Even a generous 30 day return policy does not help when you don’t have another diamond to compare this too. However you can be assured that the next time your fiancé and her friends compare their diamond rings, she will wonder why hers does not sparkle like theirs. Read more about this.
At Giraux Fine Jewelry we invest in your diamond before you make your purchase.
Most internet company models are set up to sell you products they don’t actually own. This may work to their benefit in terms of lowering their inventory costs, and impacting their profitability, but is it truly the best for you to make a lifetime purchase?
Traditional E-tailers play a numbers game. They sell a major volume of diamonds and even if a small percentage are returned before their 30 day policy expires, they are still financially ahead of the curve.
The next time you decide to shop online, ask the vendor a few simple questions:
- Do you have a trade-up policy? Read our answer.
- What happens if I need to repair or clean my jewelry? Read our answer.
- What if I want to exchange my item after the 30 day return policy runs out? Read our answer.
To view our selection of some of the most beautiful diamonds available in the world, click here.