Alex Fetanat, CEO of GemFind.com, is a diamond expert and a member of the American Gem Society, California Jewelers Association, American Gem Trade Association, Jewelry Information Center, Women Jewelers Association, and 24 KT Club. Mr. Fetanat outlined the following tips to help cash-strapped consumers purchase a quality diamond:
• Properly prioritize the Four Cs – Cut, Color, Clarity, Carat Weight: Cut should be the first priority. Color and clarity have more flexibility as long as it does not go below the center point of the scale. Consider getting the best quality diamond possible in a smaller carat size and upgrade for a larger size at a later date.
• Choose a simple, elegant setting for a smaller carat size so the focus will be on the brilliant diamond – not the busy setting.
• Review a copy of the diamond’s certificate as proof that it has undergone an unbiased, professional examination – but also focus on the diamond’s visual beauty – not just the certification. Loose diamonds should have been analyzed and graded by either the Gemological Institute of America (GIA) or the American Gem Society Laboratories (AGSL).
• Purchase a diamond from a reputable source. Choose an established diamond dealer that has been in business for several consecutive years.
• Purchase a diamond from a source with a large inventory. Avoid stores that have reduced their inventory due to the difficult economic times. Always choose a diamond from the largest selection possible. http://www.gemfind.com provides the largest selection of high quality diamonds from wholesalers worldwide.
• Examine loose diamonds in-person. Do not purchase a loose diamond online without examining it in-person first through a reputable local jeweler. GemFind.com’
• Check out the customer service options. A diamond source should always possess certification by the Gemological Institute of America. A diamond consumer should always have a time period in which they can return the diamond for a full refund or exchange if it is not special order. Also look for free shipping if purchased online. Gemfind.com allows returns on any item, other than a custom or special order, within an industry-leading 45 days from the original date of shipment of the merchandise for a full refund or exchange – and if they have been purchased online - less any shipping charges. GemFind also provides Free 2-Day Shipping for orders over $250 and Free Overnight Shipping for orders over $500.
• Keep expectations high when dealing with a diamond retailer. The economy will always rebound eventually and love lasts forever. An outstanding diamond for any occasion can be found through a reputable diamond retailer.
• Online diamond sources offer the best prices. However, do not buy online from a diamond retailer who does not allow the shopper to see the diamond first locally at a pre-approved affiliate jeweler before buying.
• Don’t feel rushed or pressured from a salesperson. Finding the right diamond takes time looking through a large inventory. Reviewing diamonds first online in the privacy or a home or office unrushed is best. The shopper may then select diamonds and request to see them in person at a local jeweler. Homework online pays off in the bottom line.
• Always ask about financing. Even during one of the worst recessions in history, a reputable dealer will offer several financing options through contacts at major U.S. banks.
• Remember – of all the purchases made to celebrate love and marriage – only the diamond will last forever. A diamond lasts long after the wedding flowers have wilted and the cake has been eaten. The bride will wear her diamond for the rest of her life – and possibly pass on to the next generation.
