Do You — or Don’t You:  Do you have a special diamond source that allows you to compete effectively with online retailers?

BY INSTORE TEAM

Published in the June 2013 issue

YES, I DO (50%)

I work closely with several New York-based diamond dealers. I’m willing to work at modest margins when I know that I’m competing against the Internet, and I actually seldom lose sales when the consumer comes to me. — Jodi Winters, J.L. Winters Jewelers, Muncy, IN

Over-the-counter buys are the best. Otherwise join Polygon or RapNet. You will easily save the cost to belong if you buy at all. — Mark & Monika Clodius, Clodius & Co., Rockford, IL

We carry a brilliant branded cut diamond that visually beats the pants off a regular round brilliant, and it is not available on the Internet. — Treva Roberts, Diamonds & Designs by None Other Goldsmiths, Gahanna, OH

We present the diamond as more than just price. Our store has the help of two smaller diamond dealers who are more interested in making constant sales rather than larger profits on fewer sales. — Scott Kelly, Jems Jewels & Gold, North Wales, PA

I have a good relationship with some local pawn shops. They can usually supply me with what I need. — Mark Thomas Ruby, SunSpirit Designs, Loveland, CO

We use many of the RJO diamond suppliers who come from many backgrounds with a wide array of prices. — Willa Dickens, Herteen & Stoker, Iowa City, IA

Our owner, a G.G., travels to India to purchase. — Gary Richmond, Van Horne & Co., Granger, IN

Ssshhh! Loose diamonds are the secret weapon of retailers belonging to the Continental Buying Group. — Dorothy Vodicka, The Gem Collection, Tallahassee, FL

The source is buying from the public. We are able to acquire goods below the price of rough, and still be the market leader in paying out to the public. Thus the diamonds we offer, after recutting and independent certing, are lower than any competitor. — Rex Solomon, Houston Jewelry, Houston, TX

NO, I DO NOT (50%)

I use the fact that I will show you the diamond before you purchase it and I can/will answer your questions and will explain the four Cs. The online diamonds that are cheaper are cheaper for a reason. I don’t lose many sales to the Internet. I will exceed their expectations. — Dale Robertson, Jacob Stone, Milford, NY

We sell the benefits of buying from us: warranty, after-sales service, trust and reliability. — John Zeke, Zeke’s Jewelers, Brandon, MB, Canada

We offer in-store custom design and lifetime warranties. — Jon Michael Fuja, Jon Michael’s Jewelers, Durand, MI

With true custom design, I make a better margin on the design than the diamond. — Loann Stokes, Stokes, Jewelry, Stillwater, MN

We offer a higher quality of goods than most online retailers. This allows us to compete within a different market. You pay for what you get and we stand by our products regardless of what another retailer has their pieces priced. — Morgan Bartel, Collins Diamonds, Liberal, KS