From high end jewelry stores to diamond wholesalers, learn the difference and how to get the most for your money. The difference is vast and each diamond and jewelry business in the Dallas area has larger profit margins. As you read, you will learn the ins and outs of the diamond business open your eyes to the diamond market.
High End Jewelry Stores
In Dallas we are bombarded with ads on the radio for Dallas based jewelers that promise low prices and great selections. When you walk into the stores, you'll be dazzled high end furniture, ambient lighting, and well dressed service people to help you find a diamond or engagement ring. To put on a show like this cost money which means in the grand scheme of things you are going to pay more for your diamond and your engagement ring than you should as they must increase their profit margins to cover the cost of radio ads, tv ads, and the fancy things you see in the store. Their massive inventory carries a big credit note as well. You are likely to spend up to 30% more at these types of jewelry stores in Dallas.
Standard Jewelry Stores
Standard jewelry stores in Dallas include the big chain stores that have national tv spots on reality tv shows and are often in every mall in America. The grade of diamonds in these stores are just atrocious. Last weekend, I went into a local jewelry store to see what they were passing as their, "$499 diamond earring studs". It was garbage. The diamonds were cloudy and small. Now I know with my own two eyes, why their margin is up to 1000% on top sellers. That's not a type, yes I said 1000% mark up.
Let's be real with each other, if you are shopping in a pawn shop for jewelry, you are likely having some financial issues and would rather save a buck on a used engagement ring. The truth is that pawn shops aren't diamond experts and often underpay and overcharge for their jewelry to make sure they don't lose money. The selection is slim and there is no certainty on the purchase.
It needs to be said loud and clear that not all diamond wholesalers in Dallas are the same. You see there is no rules or laws in the United States that prohibits the use of the word wholesale in a business name, even if that business doesn't have anything to do with wholesale. Just like Costco, the full name is Costco Wholesale Corporation. You aren't getting real wholesale prices there. You save some money by buying in bulk, buy it's not true wholesale.
That's where wholesale diamonds gets tricky. There are some diamond jewelers in the Dallas area that advertise the word wholesale in the their name but it's just a gimmick. Real wholesalers typically sell diamonds in bulk to jewelers. Selling diamonds in bulk allows them to offer real discounts to the jeweler.
Let's take one step back and look at the chain of a diamond before it gets to a ring.
- A rough diamond in mined from the ground.
- The diamond is sorted, cut, and polished to maximized profitability.
- Finished diamonds are sold to wholesalers.
- Wholesalers sell diamonds to jewelers and jewelry stores.
- Jewelry stores sell the diamonds to the public.
This is why most diamond wholesalers in Dallas are gimmicks to trick you into thinking you are buying getting a better priced diamond. It's just the way they do their business.
Unlike those ripoffs, Motek Diamonds by IDC has been a real diamond wholesaler in Dallas since 1974. Having real jewelry stores that we still distribute diamonds through across the U.S. and having our small wholesale to the public, we truly sell diamonds at wholesale prices. Additionally, we custom make 95% of our jewelry including the rings, which reduces our showroom floor inventory passing even more savings on to our customers.
When it comes down to it, The Motek Experience is the only way to go for loose wholesale diamonds and custom engagement rings in Dallas. Before buying somewhere else, give Motek Diamonds by IDC a chance to earn your business. It could save you thousands.