What are the Specifications to Being a Good Diamond Merchant?

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Diamond Purchase Guide

Many a times we hear the name diamond merchant, but have we ever stopped to think who these people are? How they make a difference in the diamond business? Diamond dealers buy and sell diamonds for private clients or for a company. They are experts in evaluating diamonds and in locating the best diamonds at the lowest prices.

Many diamond dealers work for retailers, wholesalers or diamond cutters. Current studies state that there are 1.7 million engagement rings purchased per year in the United States, ranging an average expenditure of approximately $2,000 per diamond engagement ring. Diamond dealers do not own the diamonds they sell. Instead they are only salespeople.

The background story of every perfect engagement ring is a diamond dealer who’s well versed in the three 4Cs: cut clarity, carat and color. Their careful eye is incomparable when it comes to finding the true value of a precious gemstone. To the naked eye, inexpensive cubic zirconium is identical to a perfect natural diamond, until you look at the price tag. Diamond traders make sure you don’t get fooled by such lookalikes.

According to The Guardian, the diamond trading industry is an exclusive one. For most of the diamond traders, it’s a family business. Those families who buy and sell diamonds are already known in the industry. But that doesn’t imply that it is impossible to break into the business. You need to raise some capital and find a dealer willing to sell you some precious stones. Since there is a finite supply of natural diamonds, it’s quite expensive to gather your initial inventory.

As every trade requires the quality proof, even this stone trade will need the proper licensing and certifications to work. Certifications vary based on your country policies and rules. The agent organizes deals between sellers and buyers. Making money requires a strategic business model so that you can be powerful as a middle man. The business of diamonds is of high value and the diamond broker salary potential is high for a busy broker. They have several strategies in the supply chain.

Purchasing an engagement ring could be a hassle for those who know very little about diamonds. Diamond merchants solve that issue by providing the necessary help and consultation to these buyers.

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