Diamond has always been associated with good luck as it is often considered to bring health, wealth, and protection against most of the evils that can take place. When it comes to the business of diamond, it is said that diamond business can be classified into a number of groups which include miners and producers, cutters and polishers, jewelry manufacturers and retailers.
Rick Casper talks about diamond business in detail
The diamond trading business nowadays has become quite vast as both traditional and online traders exist. The diamond sellers and dealers are considered to be the most important part of the diamond trading business.
Rick Casper being a professional diamond gemologist offers some important tips for the diamond sellers and dealers which are mentioned below:
- From the point of view of the seller, Rick says that it is the responsibility of the seller to offer the buyer a high, realistic price prior to setting the meeting or negotiation. Of course, this requires an intimate knowledge of the factors that influence diamond prices, such as the diamond’s quality, as this is typically the first thing a buyer will consider.
- Another important thing that the diamond seller must consider is the current market conditions.
- The diamond seller, who has a sound diamond trading history and have optimistic ratings on a diamond trading network, can offer them an advantage over other diamond traders when making a transaction. A seller can make good reputation by delivering products on time, being receptive, being truthful about the diamond and offering a reasonable price.
As Rick rightly says that the role of the diamond dealer is perhaps the most challenging part in the diamond business as the dealer is often regarded as the eventual negotiator who needs to take care of the buyer on behalf of the benefit of the possessor of the diamonds. The dealer also needs to deal with the claims of the buyer and thus they should have knowledge about the real-time market intelligence.
In the past diamond sales has been done largely through specialized stores but now there are a number of department stores as well who are into the diamond business. In fact Rick Casper says that internet sales have grown to a vast extent and have been a big help in introducing more transparent pricing. When it comes to the price of diamond, the price of the bigger, higher-quality diamonds have certainly risen, but prices for smaller, more commercial stones have remained comparatively flat or increased only discreetly.
Rick says that diamonds can be bought for a much lesser price and thus there is a lot of wealth that can be made in this business of diamond. Prior to getting into the business of diamond trading one will need to ensure that they can deal with the diamonds and with the buyer as well as the market is large and there are huge possibilities of making mistakes, so one needs to be careful.