Noticeably Better Diamonds, Obviously Better Prices
Harvard Business School calls it “vertical integration,” however back when they were creating it, Doug Spence, founder of Spence Diamonds, and Sean Jones, CEO of Spence Diamonds, called it “searching for the headwaters of the Nile.”.
Yes, Doug Spence and Sean Jones felt they were explorers like Burton and Speke, or Stanley and Livingstone, as they permeated the dark jungle of diamond wholesalers, brokers, agents and consortiums in search of the desired “first look” position.
It took Doug and Sean 11 years to make the position that would enable them to provide the world’s most lovely diamonds at the world’s lowest price.
This is possible only due to the fact that our Spence diamond purchasers are the first to see the newly-cut diamonds every day. Put five hundred professional diamond purchasers in a room loaded with diamonds and they’ll all choose specifically the same stones. The very best diamonds go to the purchaser who gets “first look.”.
Here’s exactly what it takes to win “first look”:. 1: Always, always, always do specifically what you stated you would do. This is exceptionally vital when you’re asking permission to analyze, get and carry gemstones worth $850,000 an ounce. Spence won approval into the inner circle in simply 11 brief years, a record.
2: Be able to pay completely immediately. The price goes up if you ask for even 24 hours to pay. Due to the high expense of diamonds, time is quite actually money in the diamond-cutting company. The quicker a diamond cutting home gets paid for their freshly-cut diamonds, the earlier they can reinvest that money in rough diamond crystals that need to be cut and polished.
3: Have a diamond purchaser standing by at all times.
Spence is the only company willing to fulfill all 3 criteria.
Believe us, it isn’t simple. We could not do it either if we had to supply a huge chain of jewelry establishments in shopping centers. Most of the huge chains have at least 400 places. The most significant has nearly 2,000 establishments. The bureaucracy of these huge organizations - and the sheer volume of diamonds they require - makes it impossible for them to get diamonds like Spence Diamonds.
The Spence diamond purchaser gets first look at the freshly-cut diamonds every day, due to the fact that Spence is the only company willing to supply a buyer who can pay on the spot. The diamonds we leave are sold to brokers who offer them to wholesalers who offer them to dealerships who offer them to corporate diamond purchasers who send them to their establishments worldwide. And each of the intermediaries who touches the diamond includes a little markup.
Spence gets rid of all these intermediaries so you can get first look diamonds at the most affordable possible price. (Quality for quality, our price is usually 16 to 19 % much better.).
Our a number of thousand prototype engagement rings are on display in each of our 7 brick-and-mortar showrooms. We ‘d have more than $112,000,000 invested in stock and the carrying expenses would require us to raise our costs if each of these was strong gold with real diamonds. So we developed a state-of -the-art manufacturing facility that enables us to produce jewelry on need.
Harvard calls it “just-in-time stock ” and “best vertical integration.”.
We call it “low overhead” and “no intermediaries.” Our clients win.
Diamond Cut— the most vital of the 4Cs:. The shine of a diamond will be identified by its cut.
The science is outstanding: light is gathered with the table, then bounced from feature to facet within the diamond as though it were in a home of mirrors. When all the light converges in the heart of the stone, it radiates outward with the crown facets in a silent explosion of scintillation. Twinkle. Glimmer. Radiance. Cut. Cut. Cut. Every diamond cutter knows how to do this. The geometry isn’t a secret, so don’t be deceived by all the embellishment about “master cutters” and other such nonsense. The simple reason that 99.71 percent of all diamonds are cut improperly is due to the fact that diamonds are sold by weight and at $850,000 an ounce, there is effective temptation to fudge the alignment of the aspects so that the completed diamond will be heavier. The diamonds that are cut effectively are the ones whose natural shape makes it possible for the diamond cutter to maximize their weight without misaligning any aspects.
And now you understand why Doug Spence and Sean Jones made it their life’s work to accomplish “first look” position. The purchaser who gets “first look” at the freshly-cut diamonds will always choose the ones whose natural shape made it possible for them to be cut for maximum shine. Which, gentle reader, is the pedigree of every Spence diamond.
Every Spence diamond is cut properly - for maximum sparkle - due to the fact that Spence diamond purchasers always get “first look.”.
With the company’s high degree of vertical integration, Spence Diamonds is happy to offer its clients the finest possible value and the market’s most detailed guarantee. More info on Spence Diamonds, Canada’s largest Canadian-owned diamond expert, can be found at spencediamonds.com.