Noticeably Better Diamonds, Obviously Better Prices
Harvard Business School calls it “vertical integration,” however back when they were designing it, Doug Spence, creator of Spence Diamonds, and Sean Jones, CEO of Spence Diamonds, called it “looking 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, representatives and consortiums searching for the sought after “very first appearance” position.
It took Doug and Sean 11 years to make the position that would permit them to provide the world’s most lovely diamonds at the world’s least expensive cost.
Due to the fact that our Spence diamond purchasers are the very first to see the newly-cut diamonds each day, this is possible just. Put five hundred expert diamond purchasers in a space packed with diamonds and they’ll all pick specifically the exact same stones. The very best diamonds go to the purchaser who gets “very first appearance.”.
Right here’s exactly what it requires to win “very first appearance”:.
1: Always, constantly, constantly do precisely what you stated you would do.
This is exceptionally essential when you’re asking authorization to analyze, get and carry gems 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 quickly.
The cost goes up if you ask for even 24 hours to pay. Due to the high expense of diamonds, time is rather actually cash in the diamond-cutting company. The quicker a diamond cutting home earns for their freshly-cut diamonds, the earlier they can reinvest that cash in rough diamond crystals that have to be cut and polished.
3: Have a diamond purchaser standing by at all times.
Spence is the only business going to satisfy all 3 requirements.
If we had to provide a huge chain of precious jewelry establishments in shopping malls, we could not do it either. The bureaucracy of these huge companies – and the sheer volume of diamonds they need – makes it difficult for them to purchase diamonds like Spence Diamonds.
The Spence diamond purchaser gets very first take a look at the freshly-cut diamonds every day, due to the fact that Spence is the only business going to offer a purchaser who can pay on the spot. The diamonds we leave are offered to brokers who offer them to wholesalers who offer them to dealerships who offer them to business diamond purchasers who send them to their shops worldwide. And each of the intermediaries who touches the diamond includes a little markup.
Spence removes all these intermediaries so you can get very first appearance diamonds at the most affordable possible rate. (Quality for quality, our rate is typically 16 to 19 % much better.).
Our a number of thousand prototype engagement rings are on display in each of our 7 brick-and-mortar display rooms. We ‘d have even more than $112,000,000 invested in stock and the lugging expenses would require us to raise our costs if each of these was strong gold with genuine diamonds. We constructed a state-of -the-art production center that enables us to develop precious jewelry on need.
Harvard calls it “just-in-time stock ” and “ideal vertical integration.”.
We call it “low overhead” and “no intermediaries.” Our customers win.
Diamond Cut– the most crucial of the 4Cs:.
The shine of a diamond will be identified by its cut.
The science is outstanding: light is collected with the table, then bounced from aspect to facet within the diamond as though it were in a residence of mirrors. The easy reason that 99.71 percent of all diamonds are cut improperly is due to the fact that diamonds are offered by weight and at $850,000 an ounce, there is effective temptation to fudge the positioning of the elements so that the completed diamond will be heavier. The diamonds that are cut correctly are the ones whose natural shape makes it possible for the diamond cutter to optimize their weight without misaligning any features.
And now you comprehend why Doug Spence and Sean Jones made it their life’s work to accomplish “very first appearance” position. The purchaser who gets “very first appearance” at the freshly-cut diamonds will constantly pick the ones whose natural shape made it possible for them to be cut for optimum shine. Which, gentle reader, is the pedigree of every Spence diamond.
Every Spence diamond is cut properly – for optimum shimmer – since Spence diamond purchasers constantly get “very first appearance.”.
With the business’s high degree of vertical integration, Spence Diamonds is happy to provide its consumers the finest possible value and the spence diamonds wow ring market’s most thorough warranty. Even more details on Spence Diamonds, Canada’s biggest Canadian-owned diamond expert, can be discovered at spencediamonds.com.