The Truth About Wholesale Diamonds

Read This To Avoid Getting Ripped Off

Written By

Joe Taube

Head Jeweller

There are about 30 vendors who claim to be diamond wholesalers in Sydney alone. Plenty more so called ‘wholesalers’ in Melbourne, Brisbane and Perth too. Plus there are 100s of online vendors around the world that also claim to be wholesalers.

Here’s the thing: real diamond wholesalers won’t sell to just anyone – you need to show proof of being a reputable diamond trading business before they will even give you prices. You need references from diamond trade members. And you also need to do a full ID check.

I would be very careful of anyone offering ‘wholesale prices’ or calling themselves ‘diamond wholesalers’. Find out more below to make sure you don’t get ripped off.

Don’t Get Ripped Off Buying “Wholesale” Diamonds

We purchase our diamonds direct from diamond polishers – the real wholesalers who make polished diamonds from rough diamonds. None of them are located in Australia.

These diamond polishers don’t sell to just anyone either – you need to show proof of being a diamond trader, pass identification checks and trade reference checks.

If a diamond merchant is selling to you, that makes them a retailer. It’s 100% guaranteed. Don’t be tricked otherwise by slick sales talk.

It’s safe to presume that anyone claiming to offer you ‘wholesale diamonds’ is not being honest. Real, genuine diamond wholesalers just do not sell to retail customers.

Buyer beware: we have heard plenty of horror stories from clients who have come to us wanting to buy quality diamonds after being ripped off purchasing from people claiming to be wholesalers.

But here’s the real kicker: often the prices people claiming to be wholesalers offer are higher than what honest online only jewellers like us can offer.

The diamonds being offered by ‘wholesalers’ are almost always dodgy diamonds – low quality diamonds that a professional jeweller like us rejects.

You may be noticing by now that there is a strong relationship between claiming to be a ‘wholesaler’ and dodgy business practices.

The simplest way to ensure you are not getting ripped off is don’t buy from someone claiming to be a diamond wholesaler. If they can’t be honest about their ‘wholesaler’ status, what else are they lieing to you about? It’s not worth the risk.

How to Get a Good Deal

Here is a couple of things to keep in mind if you want a good deal on diamonds.

  • Only buy GIA certified diamonds
  • Buy from a company that only sells premium quality high end diamonds (not a big list of diamonds)
  • Don’t buy from a company based outside Australia (Australian consumer law protections do not apply)

If you buy diamonds from a company outside Australia, you should know tha Australian consumer protection laws which give you lots of rights will not apply.

Returning diamonds or precious jewellery to a company overseas is a nightmare. Custom fees and import taxes are non-refundable – you get stuck with the bill if anything goes wrong.

You should also be very careful if your diamonds don’t come with GIA Certificates. GIA diamond certification is the accepted industry standard. We only trade in GIA certified diamonds.

This is what GIA diamond certificates look like

Don’t Buy the Cheapest Diamonds Unless You Want the Worst Diamonds

Watch out for deals too good to be true. Premium quality loose diamonds at cheap prices don’t exist.

If a diamond is being offered at ‘cheap prices’ – this is a sure way to know there is something wrong with the diamond.

Quality always comes at a price – for anything we buy and that includes diamonds. Avoid cheap diamonds if you want quality diamonds.

Look to purchase at a fair price but not the cheapest or most expensive.

Here at Forktip that’s what we offer – fair and competitive prices on high end premium GIA certified diamonds.

Jewellery stores have big markups to pay for their expensive rent and advertising

Getting the Best Diamonds at a Fair Price

The trick to getting the best diamonds at a good price is to use a professional online only jeweller.

That way you are not paying for rent, advertising and all the other costs associated with running jewellery stores.

Most online only jewellers are able to offer far more competitive pricing.

That’s what we do at Forktip. We sell high end premium diamonds online. While we do not claim to be a ‘diamond wholesaler’.

We buy diamonds every day. We trade diamonds every day. We offer competitive prices and make custom jewellery for clients.

So if you are looking to purchase diamonds, let us know the details of the diamonds you want to purchase by contacting us here or sending an email to Hello@Forktip.com

All you need to let us know is the diamond shape, total carat weight and suburb of delivery (for shipping insurance estimate) for your diamonds.

Unlike other jewellers and online stores, you won’t get a hard sell from us. We get lots of enquiries every single day and happily answer them all. We will reply back with details of the diamonds and prices we can offer.

If you don’t like what we offer, you can simply not reply back to our email and you won’t hear from us again. So you truly have nothing to lose by making an enquiry.

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