In buying retail or wholesale diamonds, the accurate definitions of “retailer” and “wholesaler” differ only by who a diamond is being sold to. A wholesale transaction deal is always with a buyer that intends to resell the item to end-consumers and not use it for personal use. A retail transaction is to an “end-user”, meaning consumers who are the people who will own and/or wear the diamond or the ring as personal jewelry.
The wonders of technology have given us the Internet, an amazing tool that has narrowed the gaps between buyer and supply source. Today, we have online jewelry stores selling real wholesale diamonds to end-users at prices very close to prices that of retailers. Many true retailers today are not able to buy diamonds for their stores at prices low enough to adequately cover their higher overhead even if they are willing to contend with Internet sellers. Some retailers do not even attempt to participate while others still try.
Be careful of anyone claiming to sell wholesale diamonds to the public. End -consumers must only need to be concerned with THE PRICE they are paying. If a wholesale ring person has shopped correctly you can pay pretty much the same amount as anyone else looking to buy many wholesale diamonds. The market is becoming much more like real estate where there really is no wholesale or retail situation. Any and all buyers can come and buy at the market price.
Undoubtedly, buyers of wholesale diamonds who purchase in huge volumes will enjoy lower prices. Retailers and wholesalers who buy diamonds in large quantities do not pay the same as buyers who buy diamonds one at a time. The best thing to do at this day and age is to look for the correct price from a seller with qualities and services that you are happy and comfortable with. Don’t be mislead by these basically now obsolete terms of wholesale and retail when it comes to a solitaire diamond ring or a pair of stud earrings.
“Where can I find wholesale diamonds?” This question has been a popular one. Realistically, there is no such thing as wholesale prices for the general public, and anyone who tells you they are selling you diamonds at wholesale prices is not being 100% truthful. In order to buy at wholesale prices, most wholesalers will necessitate you to be a licensed jeweler with a registered business which has a state-issued business permit and at least 3 references from other wholesalers. Vendors must purchase large quantities of diamonds and must be registered with the JBT (Jeweler’s Board of Trade).