Noticeably Better Diamonds, Obviously Better Prices
Harvard Business School calls it “vertical integration,” however back when they were creating it, Doug Spence, ceo 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 gorgeous diamonds at the world’s most affordable 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 filled 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 incredibly crucial when you’re asking authorization to analyze, purchase and deliver 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 right away.
The rate 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 residence earns for their freshly-cut diamonds, the quicker 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 fulfill all 3 requirements.
If we had to provide a huge chain of precious jewelry establishments in shopping centers, 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, since Spence is the only business going to supply 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 around the globe. And each of the intermediaries who touches the diamond includes a little markup.
Spence gets rid of all these intermediaries so you can get very first appearance diamonds at the most affordable possible rate. (Quality for quality, our cost is generally 16 to 19 % much better.).
Our numerous 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 bring expenses would require us to raise our rates if each of these was strong gold with actual diamonds. We developed a state-of -the-art production center that permits us to produce precious jewelry on need.
Harvard calls it “just-in-time stock ” and “best vertical integration.”.
We call it “low overhead” and “no intermediaries.” Our customers win.
Diamond Cut– the most essential of the 4Cs:.
The radiance of a diamond will be figured out by its cut.
The science is incredible: light is collected with the table, then bounced from feature to facet within the diamond as though it were in a home of mirrors. The basic reason that 99.71 percent of all diamonds are cut improperly is since diamonds are offered by weight and at $850,000 an ounce, there is effective temptation to fudge view website the positioning of the features so that the completed diamond will be heavier. The diamonds that are cut effectively are the ones whose natural shape makes it possible for the diamond cutter to optimize their weight without misaligning any aspects.
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 select 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 pleased to provide its consumers the finest possible value and the market’s most extensive assurance. Even more info on Spence Diamonds, Canada’s biggest Canadian-owned diamond professional, can be discovered at spencediamonds.com.