Diamond Dealer

[Beautiful]

Hello all,

This is my first time at this...I am wondering what it takes to become a diamond dealer??

Thanks

 

[Regular Guy]

Being willing to work with only a quarter of a deck?

Beautiful, welcome to Pricescope.

Hopefully you''ll get more and much better answers...

 

[neatfreak]

A lot of money and the right connections.

 

[dkodner]

Well it used to be you pretty much had to be born into the business. That has changed in recent times, for better or worse..)
In today''s world, you would need a large line of credit, an impeccable reputation and introductions to diamond cutters. You would really have to work for a diamond company first to at least establish a reputation, that will take a few years. Then you would have to have strong backers and people who are willing to "vouch" for you. They will be putting their reputation on the line for you as well. Then you have to figure you who you will sell to, as each city and market is very different. So you would have to know how and what to buy that you will be able to sell. If you buy high end fine make diamonds, and your market likes cheap bluffy stones, then you are stuck. Even if you buy the right mix of diamonds, then you have to get paid for them. It is one thing to sell a diamond to a jeweler, it is another to get paid on time. If you are a diamond dealer, then you will be expected to pay on time no matter what. The cutters will not care if your clients have not paid you yet, or you have not sold the stones. If you don''t pay them on time, then you get no more credit, and then you are out of business. Plus That in a very very basic form is at least one form of how to become a diamond dealer....o)

 

[Judah Gutwein]

A desire to succeed. Reputation, reputation, reputation.

Reputation and connections are entwined. You need to make connections in order to devlop a repuation and you need a reputation in order to develop and maintain connections.

Neatfreak,

Less money than you think.

 

[DiamondExpert]

...it''s unclear what exactly you mean by "diamond dealer"

...?

 

[strmrdr]

Know the right people is number one.

Number 2 in today''s market is capital.

I think the days of the supply chain supplying the capital are going to be over.
ie memo
If it is extended it will be a high premium.
Way to many suppliers are getting burned right now.

 

[dkodner]

Date: 2/26/2009 7:07:11 PM
Author: DiamondExpert
...it''s unclear what exactly you mean by ''diamond dealer''

...?

Gary you are right. I answered with the assumption Beautiful was asking about a person who directly buys from or represents large cutting operations and sells exclusively to the jewelry trade. There are a whole lot of people who call themselves "diamond dealers" that do not have that job description.

Technically anyone who sells a diamond is really a diamond dealer....

 

[YoungPapa]

Date: 2/26/2009 11:36:37 AM
Author:Beautiful
Hello all,


This is my first time at this...I am wondering what it takes to become a diamond dealer??


Thanks

Confidence and ambition. If you don''t have those in spades, forget about it.

You''ll figure out the rest as you go along.