Understanding the Diamond Market
Welcome to Jewel of Medina. We are a diamond wholesaler that sells directly to the public. The benefit of doing so means that we pass on the savings to our clients and you get a huge selection of diamonds to cherry pick what you want.
In the following paragraphs, we will show you some insights on how the industry work and why it makes sense to buy directly from us…
Our Best Value diamonds (which cost about 30% less) are pulled from the same inventory as our EGL-USA Certified diamonds. We represent one of the largest diamond companies in the world and the vast majority of our diamonds are sold in parcels of 500 to 1,000 diamonds to wholesale diamond distributors and jewelry manufacturers.
The parcels are traded very quickly and at lower margins within the wholesale market. When we take a single diamond out of our inventory to have it certified, it can no longer be traded with the parcel goods. It remains on the shelf until a customer orders that particular size and certified diamond grade.
The cost of the certification, and the cost of stocking a certified diamond over the long term adds about 30% overall when compared to parcel goods. To help the consumer reduce costs, we offer you two ways to buy a diamond.
Our EGL-USA Certified diamonds are evaluated by no less than eight diamond experts before they meet the mark of the two separate appraisals that you will receive with them. Our Best Value diamonds are not individually certified by a third party laboratory and this is why they are so cheap.
However, the uncertified diamonds are identical to, and come from the same parcels as our EGL-USA Certified diamonds. All of our diamonds are Cut to the same Ideal or Excellent proportions, the top 5% of all diamonds sold. So, you can rest assured that each will display a dazzling return of Brilliance, Fire and Scintillation.
One of the great myths that the public holds about the jewelry industry is that all diamonds are handled, certified and sold on a one-by-one basis. The truth is that, at the highest levels of the industry, diamonds are sold and traded in parcels, often 1,000 or more individual diamonds per parcel which are roughly sorted by minimum color and clarity grades.
De Beers Controls the Flow of Rough Diamonds
At the top of the food chain in the diamond industry, you will find DeBeers and the Central Selling Organization (CSO), through which most of the rough diamonds are sold. The CSO is basically a cartel.
To buy rough at the CSO it is necessary to be a member. As the number is limited and controlled by DeBeers, you will understand that this purchase circuit is intended for the elite of the diamond trade. There is no place here for the small buyer. Rough is sold at a monthly sight, and the value of each sight varies from $500,000 to $2,000,000. A CSO member is required to buy every sight offered . . . there is no way to say “no” to DeBeers.
The handful of sightholders cut the rough, and they are under great pressure to move the finished diamonds into the wholesale market, often at a very low margin. Each sightholder has a unique niche in the market.
We represent one of the few sightholders who produce only Ideal and Excellent diamond cuts. The vast majority of our diamonds are sold to wholesale diamond distributors. At this level, the individual diamonds are usually further graded and certified by a lab that the wholesaler prefers. We are the only internet source that offers you two ways to buy a diamond.
Our Best Value diamonds are not individually certified by a third party laboratory. Our EGL-USA Certified diamonds are evaluated by no less than eight diamond experts before they meet the mark of the two separate appraisals that you will receive with them.
Is it safe to buy a diamond without a third party appraisal or certificate?
In many cases, we would say, no. You can read this article to find out the detailed reasons why we don’t recommend doing so.
However, all of our single diamonds and studs come from the same source, and they are consistently cut to Excellent or Ideal proportions. Ultimately the choice is yours and, regardless of what any certificate says, the true test is to compare two diamonds of equal cost side by side and decide for yourself which diamond appears more beautiful to your eye.
If you are in doubt, we suggest you try this simple test: order a diamond from our non-certified Value Collection, and order a certified diamond of similar size and higher price from another internet retailer. Compare them side by side (this is best done in sunlight) and see if you can tell any differences.
If our lower priced diamond does not appear more brilliant and fiery than the more expensive certified diamond, simply return the diamond to us within 30 days. We guarantee a prompt and full refund. Finally, we encourage you to have your diamond appraised again from an independent third party.