Some people look at buying Diamonds as an investment, others just like how they look so they want to buy them, while others use it to propose to the person they want to spend the rest of their lives with. Finding premiere wholesale diamonds in Texas is not hard, but nowadays, people are looking for great deals, like 50 percent off and maybe even Buy 1 Get 1 Free Promo. If you have been looking into how to buy diamonds, then you may already be familiar with wholesale and retail. What is the difference between the wholesale and retail prices of loose diamonds in Texas?
Wholesale Price versus Retail Price
Because retailer’s markups are so high, a lot of customers turn to diamond wholesalers because you could buy another set of diamond rings from a wholesaler with the prices diamond retailers put on their jewelry.
The consumer experts say that it is 50/50 people are not likely to spend cash to buy loose diamonds or an engagement ring in a wholesaler store, rather than having to go to a retail store to buy the same item with tax included.
Buying from a Diamond Retailer
If you are a person who would prefer to go to shopping malls or local jewelry stores to buy some loose diamonds for engagement rings, then buying from a diamond retailer is perfect for you.
One thing you have to be aware of though, is that most retailers would put up a 50 percent to 100 percent mark-up from the wholesale price, which is great if you only care about the quality of the diamond and the engagement ring and the price is not a problem. They are known for their commercial advertisements on televisions and the radio to attract paying customers to consider them as the first option.
Retailers would always include tax in every single transaction that you have with them and they would usually promote a high value of services like professional customer services, flexible payment methods like credit cards, deposits, layaways, legitimate return and exchange policies, including warranties and insurance in their services.
Buying from a Diamond Wholesaler
The wholesale price, in general, is known as the sale of goods in large quantities, but what would you do with 100 diamonds? That is not what it means exactly when it comes to the diamond and jewelry business. It refers to buying diamonds or jewelry at a much less price compared to the retail price.
Wholesalers would provide the same amount of services that the retailers provide and the customer buys a diamond or a piece of jewelry for a cheaper price than the retail price. They also often offer trade-ins where you would be able to exchange your old loose diamond, or your diamond ring, and upgrade it to a better and higher value.
There may be additional payments that you would have to make if the value of the diamond or the value of the diamond ring that you have is lower than the price of the diamond or jewelry that you want to get, so you have to look out for that.
Can you negotiate with a diamond wholesaler?
Yes, you could negotiate with diamond wholesalers. If you are planning on doing so, here are some tips and tricks that you could use to get the best out of the bargain:
Tips for diamond buyers:
- You have to know about the availability of the diamond that you are interested in. You may not get the breadth of available information that you need when you are buying a diamond from a usual long-standing seller to determine the scarcity of the abundance of that diamond type.
- Wait for the seller to make an offer no matter how bad you may want a particular diamond. You should not throw out the first price and consider it when the seller gives you a number because that is typically just the first step of negotiation.
- You should know your pricing and quote actual prices that are for a similar diamond. This is one of the best ways to show the seller that you are a knowledgeable buyer. Being able to negotiate from a position of knowledge is incredibly critical, whether your pricing reference is a physical inventory slip, or a diamond price listing you saw on a site.
- Continue to negotiate and don’t be afraid to let a salesperson walk away.