BUYING A DIAMOND ONLINE
BACKGROUND:
The e-commerce sale of diamonds has exploded into a multi-billion dollar industry over the past twenty + years. From the early 2000s until today, there have been countless startups and failures and startups and failures and startups and COUNTABLE successes. Though many of the successes have gone through numerous iterations and multiple ownerships, the consumer demographic of e-commerce buyers has grown into the next generation of tech-savvy, tech-confident individuals who have been raised on the internet and find it second nature to “point and click”. The overall U.S. jewelry market is estimated to be in excess of 60 BILLION DOLLARS($)! Online jewelry spending is estimated to be 25% of the U.S. total sales and continues to grow. Though
recommends viewing your perspective of diamond live and in person. If you choose the e-commerce route, there are benefits that you can realize, Assuming You Know The Potential Pitfalls that may accompany any purchase, whether in-person or online.
There are several advantages to buying a diamond online, including:
1. Lower Prices? Should be!
Online diamond retailers often have lower overhead costs than brick-and-mortar stores. This should translate to lower prices for consumers. Additionally, online retailers such as James Allen or Blue Nile may offer sales, promotions, or discounts that are not available in physical stores. Perhaps even more importantly than the above, the largest diamond e-commerce sites have access to a “virtual inventory” (an inventory owned and held by the actual manufacturers who provide an up-to-the-minute live on-hand inventory via a “feed” to the e-commerce site as a vehicle to sell their diamonds). You may be clicking on a Blue Nile stone, yet that stone may be sitting in a safe in India. Once you click, the manufacturer starts the process of getting that stone to you, via Blue Nile. Essentially, many e-commerce sites act as a distributor for the actual manufacturer as the e-commerce site has become a portal for the transaction. Some of the top e-tailers are James Allen, Blue Nile, BrilliantEarth and WhiteFlash. For further information on each, please see our reviews.
2. Wider Selection? Absolutely!
Online diamond retailers often have a wider selection of diamonds to choose from in comparison to traditional stores. This wide selection is often made possible via the “virtual inventory” which directly benefits the consumer. This means that you can easily compare multiple diamonds and find one that meets your specific criteria. The two companies with by far the largest virtual inventory selections are James Allen and Blue Nile.
3. Convenience? Definitely!
Buying a diamond online can’t be any more convenient! If you are diligent, you will be able to learn just enough to allow yourself to make an educated decision when making a purchase online. Visiting multiple stores in person takes planning, time, and lots of effort, not to mention copious amounts of note-taking and interactions with salespeople who have no idea what they are selling. Buying online allows you to shop from the comfort of your own home, without having to deal with the added influence of salespeople or lack of privacy within the confines of a store. If you want education to get you started, Whiteflash has an extensive amount of information besidesof course 😀.
5. Return Policies? A MUST when buying sight unseen!
Most online diamond retailers offer a flexible return policy, which can provide peace of mind for consumers who are hesitant to make such a large purchase without seeing the diamond in person. This allows you to see the diamond in person and return it if you are not satisfied with your purchase. Companies like BlueNile, JamesAllen, WhiteFlash, BrilliantEarth, and more all have 30-day return policies, no questions asked.
are happy to help you maneuver through the diamond buying process!
Overall, buying a diamond online can be a convenient and cost-effective way to purchase a high-quality diamond, as long as you choose a reputable retailer and DO YOUR RESEARCH beforehand! For further information on each. For further information, please see our REVIEWS section.
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