Why are two diamonds of the same size and quality priced differently?
Not only are diamonds beautiful and precious, they are each unique and no two are exactly the same. I still find this fascinating, and it certainly makes my job more exciting, however it makes comparison shopping confusing for the consumer.
Today’s consumer solely relies on the commonly known 4C's and surfs the internet for the ‘best price’ but there is much more to diamond pricing that goes beyond the basic 4C's. So are they really getting a deal?
The diamond market is controlled, and when comparing apples to apples, the prices are very competitive.
The common misconception is consumers think they are comparing identical stones when shopping online, when in fact there are numerous variables that determine a diamond’s beauty and price. That’s why it takes years of study to become a gemologist.
For example; different mines exhibit different characteristics in their diamonds; one type of inclusion could be better or worse than another, or one diamond could be brighter than another.
Cutting a diamond is a craft; an art developed over years that’s handed down from generation to generation. This is because every little detail along the cutting pipeline can make a huge difference in the finished product.
With high volume diamond websites on the rise, the consumer is removed from the experience of seeing diamonds in person, and working with an expert to point out their unique characteristics.
So the bottom line is; consumers have an entire industry of experts who are in the trenches looking at diamonds all day, every day. They have an intimate understanding of them and want nothing more than to share their education to help consumers pick the best diamond their money can buy.