Spence Diamonds: Always Cut for Optimum Shimmer
Visibly Better Diamonds, Obviously Better Prices
Harvard Business School calls it “vertical integration,” but back when they were designing it, Doug Spence, founder of Spence Diamonds, and Sean Jones, CEO of Spence Diamonds, called it “searching 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, agents and consortiums in search of the sought after “very first look” position.
It took Doug and Sean 11 years to make the position that would allow them to deliver the world’s most beautiful diamonds at the world’s lowest cost.
Due to the fact that our Spence diamond buyers are the very first to see the newly-cut diamonds each day, this is possible just. Put five hundred expert diamond buyers in a room packed with diamonds and they’ll all select precisely the very same stones. The very best diamonds go to the purchaser who gets “very first look.”.
Below’s what it requires to win “very first look”:. 1: Always, constantly, constantly do precisely what you stated you would do. This is exceptionally important when you’re asking consent to examine, purchase and transfer gemstones worth $850,000 an ounce. Spence won acceptance into the inner circle in simply 11 short years, a record.
2: Be able to pay in full instantly. If you request even 24 hours to pay, the cost increases. Due to the high cost of diamonds, time is rather literally cash in the diamond-cutting company. The faster a diamond cutting home gets paid 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 willing to satisfy all 3 requirements.
Believe us, it isn’t really easy. If we needed to supply a big chain of precious jewelry shops in malls, we couldn’t do it either. Many of the huge chains have at least 400 locations. The biggest has nearly 2,000 shops. The bureaucracy of these huge companies - and the sheer volume of diamonds they need - makes it impossible for them to purchase diamonds like Spence Diamonds.
The Spence diamond purchaser gets very first look at the freshly-cut diamonds each day, because Spence is the only business willing to offer a buyer who can pay on the spot. The diamonds we leave behind are sold to brokers who offer them to wholesalers who offer them to dealers who offer them to corporate diamond buyers who send them to their shops worldwide. And each of the middlemen who touches the diamond adds a little markup.
Spence removes all these middlemen so you can get very first look diamonds at the lowest possible cost. (Quality for quality, our cost is usually 16 to 19 % much better.).
Our a number of thousand prototype engagement rings are on display in each of our 7 brick-and-mortar showrooms. We ‘d have more than $112,000,000 invested in stock and the carrying costs would force us to raise our rates if each of these was solid gold with real diamonds. We built a state-of -the-art production center that enables us to produce precious jewelry on demand.
Harvard calls it “just-in-time stock ” and “best vertical integration.”.
We call it “low overhead” and “no middlemen.” Our customers win.
Diamond Cut— the most important of the 4Cs:. The brilliance of a diamond will be figured out by its cut.
The science is remarkable: light is collected through the table, then bounced from element to facet within the diamond as though it were in a house of mirrors. The simple reason that 99.71 percent of all diamonds are cut improperly is because diamonds are sold by weight and at $850,000 an ounce, there is effective temptation to fudge the alignment of the features so that the finished diamond will be heavier. The diamonds that are cut effectively are the ones whose natural shape makes it possible for the diamond cutter to maximize 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 look” position. The purchaser who gets “very first look” at the freshly-cut diamonds will constantly select the ones whose natural shape made it possible for them to be cut for optimum brilliance. And that, gentle reader, is the pedigree of every Spence diamond.
Every Spence diamond is cut properly - for optimum sparkle - because Spence diamond buyers constantly get “very first look.”.
Through the business’s high degree of vertical integration, Spence Diamonds is pleased to offer its consumers the best possible value and the industry’s most detailed warranty. Even more info on Spence Diamonds, Canada’s largest Canadian-owned diamond expert, can be discovered at spencediamonds.com.