Buying Diamonds Below Wholesale?

You can never buy diamonds Below wholesale

Those kind of statements display the kind of criminal behaviour that brings out people’s greed and ruins their ability to think clearly.

A real diamond dealer rarely needs to sell diamonds for a loss. They surely don’t need consumers to buy when then are selling for a loss. Their fellow diamond dealers are like vultures circling their prey. When a diamond dealer is really short of cash, his fellow dealers swoop in. They do not need, or want, consumers to buy their distress diamonds. It is a little like a closed, private club. Consumers are NOT members.

While it may be just semantics, when an end user, a retail consumer, buys a diamond, it is a retail transaction. You can not buy “Below” wholesale short of buying a stolen diamond.

So, in essence, don’t get sucked into a phoney deal by misleading words or the supposition that you have a once in a lifetime opportunity.

This guy may be a decent person and the diamonds offered there may well be decent deals to consider, but not everyone call tell a carnival barker approach from a scam artist. Just be extremely aware and careful.

David S. Atlas
GG(GIA), ASG, Sr. Mbr. NAJA
Accredited Gem Appraisers

LawGem:
If I could change one thing about this business, it would be the abuse of the term “wholesale.” Every time I see some retailer bleating about selling at or below wholesale or having wholesale prices or selling “wholesale to the public” I want to scream. There are no ifs, ands, or buts about it – this practice is illegal. As in a violation of FTC guidelines for the jewelry industry and both state and federal unfair trade practice regulations. It’s only because the FTC doesn’t have the manpower to chase down every violation that it goes on so much.
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