On Line Diamond Sales

“What would you consider to be the key success factors of the online diamond industry.  Also, how important each one would be to the industry?”  - Matt

This recently received question is a subject that I have written about in the past, but is still is a relevant and hotly debated issue in the jewelry industry today.

I believe there are four basic reasons for the success of the online diamond sales:

1. Convenience and a feeling of being in control of the buying process.
2. The perception of a better price
3. The perception that diamonds are a commodity and the certificate contains all the information necessary to make an informed decision about beauty and value.
4. No sales tax

Taken individually there is nothing new about any of this – what is new is the combination of all four and the ease of access – virtually anywhere at any time.
The internet has been transforming the industry in ways that are still evolving.

And while I embrace much of this change it saddens me that there are those in the diamond business, as well as in the public, who believe or who want to believe, that the rare and very individual beauty of a diamond can be reduced too, determined and quantified by the numbers, angles, percentages and letters on a piece of paper. The whole of the online diamond industry rests, almost entirely, on a piece of paper.

David W. Nytch CGA www.westandcompany.com
     

   

Comments

[Chris]

This post makes allot of since.

[jewelry pendants]

That was a great article. I totally agree with you.

As one who is benefitting from the growth of the online jewelry industry, I can see both sides.

There is nothing like the look, touch and feel of well made diamond jewelry. It raises people up just being around it. Around great jewelry how can one not be moved, touched and inspired?

Then there is the 'paperwork' side.

We must walk the fine line between the two I believe, respsecting and looking after both.

All the best

from Sam

[Keith Richmond]

I inherited my father's diamond ring and am having it re-sized (in this case made smaller). In the examination of the diamond by the jeweler it was noted that there was an inclusion centered in the diamond. This is what appears to be a cloud inclusion with a very distinctive cube shape. My question is, do inclusions ever increase the value of a diamond based upon their rarity? This is about a 1 carat diamond.