Choosing Diamonds Online?
June 13th, 2009 by ALVIN SOONG
One of my friend bought his diamond ring online through one Facebook ad. It is really much cheaper. He did his research online on ‘four Cs’ guide to size up a diamond - carat, clarity, colour and cut. While I bought slightly smaller than his through a dealer, supposedly cheaper months back, it is still more expensive than his. Maybe that is a consideration to get diamonds online as well.
From recent news articles, it was mentioned recently of buying diamond from one of the online firm, Blue Nile, a Seattle-based company with diamond ring sales that rank only behind Tiffany & Co. The firm was founded in 1999 by Stanford Business School alumnus Mark Vadon and offers over 60,000 diamonds on its site.
This is how Blue Nile works.
1. you can use the website’s material to acquaint yourself with the traditional ‘four Cs’ guide to size up a diamond - carat, clarity, colour and cut.
2. If you are unsure of what to do, you can dial a number to reach a Seattle-based sales representative, who will guide you through the purchase. You can even chat with him online.
3. Once you have placed your order, Blue Nile buys your rock from a New York cutter, who ships it overnight to the firm’s warehouse in Seattle. There, a jeweller will do all the hammering and pliering needed to marry the diamond to its setting.
4. If you are afraid the ring will not fit the intended finger, you can download a ‘printable ring sizer’ from the Blue Nile site to help you determine the ring size.
5. The diamond is then shipped out in a box via registered mail. Payment can be made by credit card, bank wire or by PayPal.
6. A diamond grading report from the Gemological Institute of America (GIA) a week after placing his order. There was no shipping charge since the order was over US$750 (S$1,085), but a fee of 1 per cent of the value of his order was automatically applied during the checkout process. This fee is for insurance to protect his order from the time it leaves Blue Nile to when it arrives at his door.
7. Blue Nile has a return policy. You can return any item without custom engraving in its original condition within 30 days of the date of shipment for a refund or an exchange.
Diamonds sold at shops increase their mark-ups every year, it is difficult to know if we are getting a ‘true discount’. The best thing about buying diamonds online is the huge array of choices. In other words, he is not restricted to the selection in the stores. (This is the same for me when I bought through a dealer) but don’t hesitate to ask about a vendor’s credentials if you cannot find them on his website. Also, make sure that the diamonds you are considering come with a diamond grading report from an impartial laboratory such as GIA or the American Gem Society (AGS).
Summarised from various sources
