Gaining access to daimond wholesale broker list

[themagazinescene]

I would like to begin a small business selling diamonds. What do I need to do to get started? In particular, how do I gain access to the brokers diamond lists that other e-vendors use?

Thank you for your time,

Ben

 

[denverappraiser]

Ben,

Most cities have several diamond wholesalers and certain cities (New York and LA) have hundreds of them. The most important thing is to establish your credibility with the dealers. This is usually done by working for someone for a few years and getting to know the ropes. Very few dealers will sell on credit to a new contact or to one who doesn’t have an established track record. If you have a marketplace with customers in it, it’s not usually that difficult to find a wholesaler who will cooperate with you but the real work is in the selling, not in the buying.

There are several large services for data to dealers and they all require that you first establish your presence in the industry before they will allow you to subscribe. Even with that, subscriptions can cost several thousand dollars per year.

What makes you feel that the diamond business is right for you?

Neil Beaty
GG(GIA) ISA NAJA
Independent Appraisals in Denver

 

[WinkHPD]

Date: 2/12/2005 7:57:16 PM
Author:themagazinescene
I would like to begin a small business selling diamonds. What do I need to do to get started? In particular, how do I gain access to the brokers diamond lists that other e-vendors use?

Thank you for your time,

Ben

You will need to get a business license and sales tax number, then start buying and selling gems until you have established that you are in the business, not just another person in your bathrobe selling from the kitchen table. That will allow you to join Polygon or Rapnet to get your access to the dealer''s lists that you want.

This will of course give you all the rope you need to hang yourself if you do not know enough about diamonds to know which on the list are good and which are not. Then again, most of us do not pay the memo price on the list if we actually buy our diamonds rather than trying only to sell other people''s diamonds.

Do not expect to make large profits, the internet has winnowed out a lot of the weak and infirm and cost many their shirts. This is a business for those who truly know what they are doing and I suggest you work with or for someone who knows what they are doing before you dive in. That way you can benefit from thneir experiance without having to repeat their mistakes.

Expect to loose money for a couple of years, then when you have established yourself and started to learn the business you will find it easier to break even then eventually profit.

Good luck to you.

Wink