The downfalls and benefits of buying loose diamonds online

In today’s world, more and more people are completing all of their shopping online instead of going into an actual retail store to make a purchase. People can shop for anything from cars to clothing, all without ever having to set foot outside their door. One area of the retail world that has always traditionally been relegated to in-person shopping is engagement rings. People like to see them, hold them, and examine them in person. They also have the individual attention of an expert salesperson that can point out different aspects of different stones and also answer any questions that the buyer has. But the custom of purchasing loose diamonds in person has also started to change. While many local jewelers all have websites, most of them continue to conduct all of their sales in person, but there are other chains that now offer the ability to purchase diamond engagement rings and other jewelry online. The trend has not taken off to the point that it threatens the business of local Denver jewelers, but there are quite a few consumers out there that ask about the safety of purchasing diamonds online, and how they can avoid being the victim of fraud through an online purchase. Let’s take a closer look at the benefits and drawbacks of making a gemstone purchase online:

Pros:

  • When you make a loose diamond purchase online, you can potentially save money. Some online stores have prices that are up to 20% lower than their in-store competitors. Part of this could be due to the fact that when you purchase online, none of your funds have to go towards the costs of running and maintaining a physical brick and mortar location.
  • Larger selection. Online stores can ship purchases to you from anywhere, so when you shop online you will have access to a much larger selection than what you would see if you were to visit a brick and mortar store.

Cons:

  • It is almost impossible to gauge the quality of a diamond online. And even if you are able to find a way to examine a particular loose diamond up close through the internet, there is also no way to guarantee that the stone that you observe online is going to be the same stone that is shipped to you.
  • Most online diamond sellers do not have very flexible return policies. They also usually do not offer any kind of maintenance services on a piece of jewelry. For example, when it is time to get a particular piece of jewelry cleaned or repaired, you will likely have to take it to a local jeweler to be taken care of. Since you did not purchase the jewelry from that jeweler, you are also more likely to pay more at the jeweler to have services done on it.
  • Fraud is more prevalent with online sales. You may be shipped a diamond of lesser quality, or perhaps a fake diamond and you may never know until you go to have it appraised.
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