“How much does an eternity ring cost?” asked a customer who had previously made a purchase from me. I provided a quote, and she quickly exclaimed, “What?! How is that possible? I received an offer for the same ring with the same specifications for 800$ less…”
There are several recurring reasons causing significant price differences between different sellers for seemingly “identical” products. In this article, I aim to outline these reasons and provide you, the customer who might not understand how such a situation can occur, a glimpse into some of the not-so-spoken-about secrets in the world of jewelry and diamonds.
- Reliability of Diamond Appraisals… When I price a ring with diamonds of a certain quality, I rely on my expertise as a certified gemologist and the strict standards of leading international gemological laboratories such as GIA, IGI, and HRD.
Unfortunately, some labs grade diamonds too leniently (or, to put it bluntly, don’t adhere to accepted grading standards), particularly in color and clarity assessments. For example, a diamond with a true color grade of K might be labeled as G, and its clarity might be SI2, but the certificate could show VS2. Yes, this happens regularly, and customers who just want a good price for the jewelry they’re purchasing may not be aware that the diamond in their “great deal” may not meet their expectations.
The difference in diamond quality naturally reflects in significant price gaps. When I provide a quote and specify the quality of the diamonds in the piece, I base it on stones that have undergone rigorous sorting according to industry-standard grading criteria, adhering to the strict standards of leading gemological laboratories.
- Use of Diamonds with Natural Phenomena Not Reflected in the Customer’s Appraisal Certificate
- One phenomenon is diamonds that, according to the certificate, receive high color and clarity grades, but something about them doesn’t shine as a diamond should: sparkling and captivating the eye. We call this phenomenon a “milky diamond” in the diamond industry. When a customer comes to the diamond exchange and is shown a diamond with seemingly good specifications at a very attractive price, they may not always notice that something is missing in that diamond, and that’s the sparkle the diamond is supposed to radiate. Since the customer is not exposed to many diamonds, they may not always have the measure or confidence to point out that something seems off with the “milky” diamond presented to them. For example, let’s take a diamond with color and clarity F-VS2, which doesn’t have this characteristic; it will be sold at a significantly higher price than a diamond F VS2 that does exhibit this phenomenon.
- Another phenomenon worth being aware of, despite not always affecting the diamond’s brilliance, does impact its value in the market: the phenomenon of fluorescence. This is a natural occurrence created by nature in the diamond crystal, so when exposed to ultraviolet light, it fluoresces in blue, white, or yellow. Sometimes, this phenomenon also affects the diamond’s brilliance, but not always. These diamonds are traded at significantly lower prices among manufacturers and dealers, potentially reaching end customers at a much lower cost. However, the seller doesn’t always explain to the customer that they are purchasing a diamond with this phenomenon, even though other characteristics may be excellent.
much lower cost. The seller doesn’t always explain to the customer that they are purchasing a diamond with this phenomenon, even though other characteristics may be excellent.
- Jewelry Craftsmanship and Finishing Quality Tennis bracelets that tear and lose diamonds, diamonds falling out of jewelry, hollow gold rings or those with casting flaws, all result from cost-cutting and a lack of attention to detail. A non-professional customer might not notice these issues at the time of purchase, thinking that the jeweler would not compromise on quality. However, these details have a significant impact on the final price of the jewelry. In the long run, a piece created with care and attention to detail will continue to look stunning, unlike a piece that was manufactured with cost-cutting and a lack of attention to small details, which may degrade and lose its initial luster quickly.
Conclusion: Although we all seek market-breaking “deals,” deep down, we are aware that if we paid a low price, there’s likely a reason for it. I don’t argue that it’s illegitimate for a manufacturer to reduce the cost of their product if they want to sell more and reach more buyers. In this article, I aim to provide you, the buyers, with more tools to understand the reasons behind those price differences, enabling you to make an informed choice based on what matters more to you: a cheap product or a high-quality one. From my extensive experience in the field, it’s rare that both of these criteria are met in one piece of jewelry.
