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Actor, Chef, and Barista in Canada
We go through the fundamental challenges physical retailers face below but, in short, there is no way they can compete with an online retailer when it comes to price.
We often receive emails from our readers that are hesitant to buy online, despite the fact that they know it will be cheaper. For that reason, I think it’s important for me to explain why I understand those concerns, but I think they are misguided. We have found that far more people end up getting taken advantage of by going into a store than purchasing online. Diamond buying is confusing and, deep down, you realize that you will never know as much as the professionals selling the diamonds.
Many of our readers spend hours pouring over our Diamonds 101 and Diamonds 102 section. You can learn all the ins and outs of diamond buying. But when you walk into a store, you have to be 100% sure you aren’t forgetting any minor detail (they may seriously impact the value of the diamond). After all, you are facing off against someone who is more prepared and more incentivized to make sure you walk out of that store with a diamond on their terms.
When you purchase online, you have the advantage of going at your own pace, cross-referencing (with a site like ours) and checking off all the boxes. We are also able to help with somewhat unbiased opinions. While we usually get paid by the online vendors we recommend, we have no reason to recommend one diamond over the other unless it’s the better choice for you.
The opposite is the case for a retailer. When you walk into a store, the less desirable the diamond, the more incentive the owner of the diamond has to sell it. Which item would a jeweler prefer to sell you? The highly desirable, well valued one that he can sell to anyone? Or would they rather sell the less desirable diamond that is dead weight in their inventory box and on their cash flow sheet?