Diamonds Direct From Israel?

[Vitamin K]

I have a local B&M that is set up in an office building. They appear to be on the up and up as they have been in business for over five years now. The owner is Israeli and his family is in the cutting business in Tel Aviv. He used to be a wholesaler and sell to the higher end stores in the area and region for years and has set up shop for himself. His prices are very competitive and equal or exceed what I am finding even on here. I don''t know too much about the diamond industry but is this possible? They claim to "skip" Antwerp and get them directly from family members in Tel Aviv about four times a year when he goes and visits. The stones are really beautiful and the prices are very good. Is this possible or is there a sham in there somewhere?

 

[Nicrez]

There is Diamonds Direct based out of St. Petersburg FL? i know they have been in business for 20 years or so, but this one I have heard nothing about...

One in Canada that only does wholesale that I know... (they are listed on IDEX I think)


Where are they located? Let me put out a feeler...

 

[Vitamin K]

The company is called Distinctive Diamonds and is located in Indianapolis. The owner is Eli Benisty. It is in an upscale office building and is large and beautiful. They say they keep the overhead low by having a very small staff and also save money not being in a free standing building. His stones are all certed. Although he does have some EGL, most are GIA which he prefers. Then again the EGL''s I saw from him were pretty spectacular as well. Since I am posting on here you can tell I research things before purchasing. They just blow other area store who advertise "direct" like Shane Co. right out of the water on quality, size and price. I just wanted to know if this was possible??

 

[Nicrez]

http://www.distinctivediamondsinc.com/about.php Their site had me a bit dubious based on their PR wording...

It's possible, but I guess in retail they like these sweeping statements of half-truths I just can't swallow...

One, if they are WHOLESALE, they are NOT retail. To be retail you have to get a sales tax number (retail transaction require sales tax per state regulations) and if you retail, you are no longer a WHOLEsaler. You are a retailer. They are using the magic word "wholesale"....

Two, you will not get the same prices as the industry. Why would they? Industry knows diamonds and buys in bulk, as well as many sources to buy these diamonds at lower rates. Why would they be so kind as to give you a super low price without buying in bulk, when as a consumer you know little to nothing about diamonds and your sources are not nearly as vast or cheap as someone in the industry... It's just too charitable to be a good business model.

Rap sheets are not a mystery. They don't even help the average diamond buyer for the simple reason that you can get a price on RAP but no on in industry just pays simple RAP. They pay a negotiated percentage OFF of RAP, based on the stone meeting or exceeding standards. Those prices are avaerages for a well-cut stone. Depending on the cut you can get 10% ABOVE RAP price over or 50% below. It all depends. So the secret isn't the averages (which you can check on PS and get a more accurate pricing), the secret is buying at a good RAP discount for the stone in hand.

They could very well have great stones, and very well have decent prices. Location is probably cheaper, and if it's family-owned they may be saving money on getting deals within and fewer employee costs, but remember no one goes into business to save YOU money.

It's worth a shot and have them detail EXACTLY the return policy before you buy. Maybe find some you like, post them, and see what others can find to compare around here. Also, if you DO buy, use an AMEX to protect yourself. Just easier if God Forbid any issue arises.

Also ask about their lifetime upgrade policy...

Good luck!

 

[Vitamin K]

Their upgrade policy is excellent. They have 100% buy back policy. If I buy my ring from them for $6000 today and want to trade it in tomorrow or 10 years from now on one for $6200 I simply pay the $200 difference. I know what you mean about the truly being wholesale/retail but the prices are on par with what I have found on here. Thanks for your help and I will be sure to post any pics in the future.

 

[denverappraiser]

Lots of jewelers operate out of office type environments and they can be very competitive. There’s a big market in Israel and lots of cutters prefer to sell there rather than in Antwerp, New York, India or various other bourses although it doesn’t have anything to do with either price or quality of the goods.

The ‘skip Antwerp’ thing is a bit of advertising falderal but they have to say something to convince you that they’re real and it’s probably technically correct if irrelevant. Similarly, the fact that they used to be a wholesaler and have decided to open up a direct retail shop is perhaps interesting as part of their resume but largely irrelevant to the deal at hand. Remember to evaluate each deal as it’s presented to you based on it’s own merits and I think you’ll be fine.

I’m not going to dig through the website but do make sure that it’s the correct company. I suspect there are dozens of companies with very similar names that are unrelated. It would seem a shame to disparage these folks over advertising that isn''t even theirs.

Back when I went to business school, selling things one at a time to the end consumer was called retailing. As far as I know, this hasn’t changed but there sure do seem to be a lot of people in the diamond business who want to call it something else.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Jewelry Appraisals in Denver

 

[Vitamin K]

One last question, what is a good % discount off of Rap on any single color or clarity?

 

[denverappraiser]

Here''s an article in the journal section about Rap discounts that may be useful to you.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Jewelry Appraisals in Denver

 

[parkerj]

So K, What have you decided to do? Did you decide to buy a diamond from them? They''ve quoted me a fabulous price on a RB, and I am curious to find out what your experience was like!

 

[Vitamin K]

If I go with a b&m I will definately go through them. I have only seen princess cuts there but I am now leaning towards an Ideal cut RB myself. They blow Reis Nichols, Aronstam amd the rest out of the water on price. I feel comfortable with the GIA certs and really liked the staff there as they are not pushy at all and they have great settings in house. It will either be an ACA from Whiteflash or an Ideal from them if the price is right. If all things are equal and the only difference is a few hundred in sales tax I will probably opt for them just for the simple fact that I can see the stone in person before my purchase and if anything arises they are only a short drive away. I am probably about a month out or so from my purchase. I am looking at a hearts and arrows 1.05 or so VS2 H in a platinum Vatche comfort fit X prong. I will post some pics after purchase.

 

[parkerj]

Hmmm- I'm thinking about calling them for another quote or two--I've been looking for a long time and I wouldn't have to pay the tax because I don't live in Indiana.

 

[Vitamin K]

I made my purchase today. I bought an AGS0 1.13 RB VS2 H for 6750. I will have to eat sales tax but I am very happy with the price. The stone is fantastic looking and looked fabulous under the h&a viewer. My girlfriend and I will be going back in a few months to them do a custom bezel set that my she had made mention of based off the Tiffany Lucida. They are very competitive on that as well and already quoted 900 for it which I think is more than reasonable for a custom made 18K white gold ring. Don''t forget their trade up policy either. Ten days or ten years and you can get 100% buyback with no minimum puchase IE you don''t have to "double" your purchase to get it. I give them two thumbs up for quality and service.