Diamond Myths
Provided by your Home Town St. Louis Jeweler
Diamond Myth #1: Buying a Diamond by only looking at Lab Reports
Quick Answer: Each Diamond is unique, you can't find two diamonds exactly alike. This is why you have to see and choose your diamonds side by side with your own eyes . . . Period.
The best example is a recent search with an on-line diamond seller; they had more than 14 Round Diamonds that were 1 carat in weight, G in Color, SI1 in Clarity, Ideal Cut and all with GIA Lab Reports. The Highest price was $7,900 and the Lowest was $4,800. Why is there such a price range for such similar diamonds by paper and on the same site ? Again the answer is that each diamond is unique, you can't find two diamonds exactly alike. Simply, Lab Reports can't tell the unique personality that each diamond has. Then, each individual person has different likes and dislikes when looking at diamonds, even among trained Gemologists.
This is why you have to see and choose your diamonds side by side with your own eyes . . . Period. This rules out almost all of the on-line avenues, as most don't or can't allow you to do a true side by side comparison.
You are not buying a piece of paper you are buying a Diamond, so look at Diamonds.
You are not going to propose with a piece of paper you are proposing with a Diamond, so again look at Diamonds.
Diamond Myth #2: Lowest Price Guarantees
Quick Answer: You hear these "Lowest Price Diamond Guarantee" claims and you think "What do they really mean". Well just like political statements these days, you have to listen to the words, then you need to read the fine print, and they ALL have fine print. The fine print pretty much states: "We will match or beat the lower price IF We Feel Like It !" or "We will beat the price if all the stars and moon line up correctly"
So with all this fine print, these lowest price guarantees are just gimmicks, to make you feel content and to be able to say the words “LOWEST PRICE GUARANTEE” in their ads.
Quick Answer #2: The Truth Hurts - When it comes down to the actual profit margin an Independent Retail Jeweler makes on a diamond has reduced dramatically over the last 2-3 decades, leaving very little flexibility in actual final selling price. On average, the Independent Retail Jeweler makes a much smaller margin on diamonds than the national chains, not to mention the High End "Luxury" retail stores (no names here).
There are many variants of this claim, but first, look at Myth #1 above . . . what justifies or defines the lowest price, when no two diamonds are alike? There could be a reason why a diamond is the "lowest" price . . . . cheaper on paper does not mean equal by sight. Who determines if the two diamonds are equivalent?
Think about this, if you have two or more stores in an area that truly have the "lowest price guarantee", would you not just be able go back and forth between them and eventually get your diamond for just ONE DOLLAR! OF COURSE NOT, these low price guarantees are just fine print gimmicks.
Now let’s analyze some of the variants of the lowest price guarantee gimmicks. In some cases you will see words such as we will match or beat a price "at Our Sole Discretion". You may see limits to whom or where the lower price must be found. Another deception is that they will match or beat the lower price or they can choose to just refund your purchase. Simply, they can choose to just give you your money back instead of giving you the "lowest" price.
It’s all in the fine print !! Many boast the lowest price guarantee stating that in 30 days if you find a lower price, they will beat the price. At their option, they can also not beat the price but just refund your purchase. Many have a 30 day no question refund policy already in place . . . for any reason, including finiding a better price. BUT they just want to state a "lowest price guarantee" in their ads.
Another ploy for some jewelers is to actually sell the diamond at a lower price, but sell you a "designer" brand engagement mounting to put the diamond in that is much more expensive than a similar non designer brand type ring.
Diamond Myth #3: The Tricky Meaningless Diamond Source Claims
"Wholesale to the Public"
"We Cut Our Own Diamonds"
"We are Owned by a Diamond Wholesaler"
"We are Sight holders"
"We have our own Diamond Mine"
"We Invented Diamonds" (Just Kidding on this one, I hope)
Quick Answer: All these types of deceptive claims have one purpose . . . . to just imply savings!
The traditional supply channel for diamonds was . . . diamond mine, sight holder, diamond cutter, diamond importer, diamond wholesaler, retailer, then to your hands. There are now many variants to this. Today the supply chain, in most cases, has one to three steps cut out between the diamond mine to your hand. The lines between each traditional step has blurred as well. No matter the claim of who or where they are in this traditional supply chain, if they are selling to you, the consumer . . . they are retailing it to you. Since any entity selling to you could be obtaining the diamond with any variance of this supply chain, claiming to be a sight holder, Importer, wholesaler or whatever does not guarantee the consumer any savings, just IMPLIED Savings. Regretfully, new deceptions are created all the time.
There is also a huge secondary diamond market that can bypass many or all of the steps of the traditional supply chain. This secondary market is fueled by estates and individual consumers selling their diamonds back to the market. This secondary diamond buyer can be any member of the traditional supply chain. This secondary market is actually where real savings can be found. This secondary diamond market has drastically changed the landscape of the diamond industry.
So simply, don't fall for the gimmicks, you still have to compare diamonds side by side to see the true value and comfort in where you are making your purchase.
Diamond Myth #4: Buying Diamonds On-Line
Quick Answer: You are buying a symbol of your love that can last generations, this deserves more effort than clicking and shipping! It deserves your personal touch, and your personal viewing.
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It makes more sense to look at diamonds in person. Pricing only tells 1/10th of the story, you need to see the characteristics of the diamonds. This way you can decide what characteristics you like and don't like . . . . then focus on finding the best value. Without looking, you may find what appears to be the best value, but hate the characteristics of the diamond. You simply can't truly compare diamonds with out seeing them.
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Each Diamond is unique, there are no two diamonds alike. For a 1.00 Round Diamond G color SI1 Clarity, you will see price variance of up to 40% from lowest to highest . . . on the same site! It is overwhelming! We will explain and show the unique characteristics of each diamond. We help you find the right, unique one of a kind diamond for you, with no stress, no pressure.
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You can find the same on-line values and selection with the service you deserve right here at Vincent's Jewelers the best Diamonds in St Louis
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Don't "Click and Ship" your Diamond
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Don't go to some secluded office to look at diamonds
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Don't search a confusing "make believe" diamond list
Diamond Myth #5: All Retail Jewelers are the same
Quick Answer: All Retail Jewelers are not the same. Here are some questions to ask yourself as you navigate to find the best jeweler for you.
Are they from your community ?
A locally owned and operated jeweler will be more familiar with your traditions and standards. Just as you do, they develop relationships with the other local businesses and are involved in the community. St. Louis is the town that always asks . . ."Where did you go to High School ?"
Are they active in and support your community ?
This tells you they care about the community they are in, and have a vested interest in it . . . this is an enormous incentive to treat you fairly and honestly.
Are they rated by the Better Business Bureau ?
Knowing if they are rated is not a fail safe, but can at least tell if there are any major issues with the entity and how they address complaints. Unlike many of the consumer rating and review sights that can be padded by the entity themselves, the BBB holds very strict standards. Regretfully, many of the consumer rating sights can also be used as attacks by competitors; again the BBB is a much more reliable source.
Do they have high staff turnover, or do they have long time employees?
This is a very common issue in any industry. A store that has high staff turnover, short tenure, or a low industry experience level should raise warning signs. Does this store truely have the credibility to help you properly choose the symbol of your love?
A store that has long tenured and highly experienced staff gives you the confidence that you are and will be working with a knowledgeable and professional team. With long tenure, you are guaranteed a long-term relationship with your Jeweler.
Are they an active and respected member of the Jewelry Industry ?
This shows you that they are striving to help the industry and the consumers they serve. Their membership and involvement in industry associations is proof they are passionate about what they do.
Do they and their staff have any industry awards and accreditations?
Having these accreditations and awards tells you that their team is staying current with the needs, trends, and education
What is there financial strength ?
Just like an insurance company, the financial strength of your Jeweler tells you their buying power as well as their staying power. It is important to do business with someone that has been and will be around for years and years to come rather than here today and gone the next.
Diamond Myth #6: Lab Grown Diamonds are a Great Alternative
to Natural Mined Diamonds
Quick Answer: Lab Grown Diamonds are an alternative to Natural Mined Diamonds
We do have Lab Grown Diamonds available if requested. They have the same physical characteristics of a traditional mined diamond ! Simply they have the Beauty & Durability you would want, but at a 30-50% discount.
BUT, we CAN'T guarantee any future value or trade-in value on the lab grown diamonds !
We want all customers of Lab Grown Diamonds to understand there could be little or no resale value. A naturally mined diamond has a long established history of holding value, there is a large market buying and selling naturally mined diamonds that the Lab Grown counterparts don't yet have.
