High street retail jewellers must play things safe when choosing diamond rings. Most choose diamonds and diamond rings to hit certain retail price points. This seems perfectly sensible but also extremely limiting.
Last Friday I was dealing with a client who wanted to buy a 1ct diamond solitaire engagement ring. He had been to several stores and was recommended to come and meet me. He showed me what a salesperson in a local store had written down about a ring he had seen.
The note said the following:
- Platinum ring
- G Si1
That was it.
One of my main frustrations with my industry and the people working in jewellery sales is the lack of information given to customers. This emphasis on colour and clarity - as if these two things are the only important considerations - is quite simply lazy.
There is no excuse for it.
Admittedly some of the other aspects of choosing a high-quality diamond can be complicated. However, it is our responsibility as professionals to educate and explain things clearly to customers.
I have said many times that my overriding goal is to make sure clients choose and buy better quality diamonds. This involves so much more than colour and clarity and these aspects are where my expertise is invaluable.
It so happened that quality was important to my client, although he was adamant he didn’t want a diamond bigger than 1ct.
After spending time with him and narrowing down his priorities I managed to select him his perfect diamond:
- F Colour
- VS1 Clarity
- Excellent Polish, Cut and Symmetry
- No Fluorescence
- No Brown, Green or Milkiness
- GIA Report
So, why would he never find a diamond like this one set into a ring in a high-street jeweller store?
The reason is that it is just too high a quality. It just wouldn’t be a sensible diamond for a jeweller to hit the price point for a 1ct diamond ring. Jewellers ideally like 1ct diamond rings to have a retail price under £10,000, this one would have to be closer to £15,000 to cover his retail overheads.
The way I work is very different. I am able to offer much higher quality diamonds, diamonds that will never hit the retail price points jewellers feel comfortable with.
I choose to work differently. I work with clients on a 1-2-1 basis through private consultations. My overheads are low and I don't carry hundreds of thousands of pounds of stock. Working this way enables me to offer the widest choice of diamonds in every shape, colour, quality and size. It enables me to offer better value and better quality than a traditional high street store can ever do.
The ring my client has chosen will be individually made in platinum at a total cost of just under £9,000. At a standard retail margin, he would be looking at paying over £15,000 for his specific diamond ring.
To be very clear here, the diamond ring my client is going to present to his girlfriend will be world class. The diamond is one he would never have had the opportunity to choose at a traditional jewellery store.
I have another very happy client.