Spence Diamonds: Constantly Cut for Maximum Glimmer
Noticeably Better Diamonds, Obviously Better Prices
Harvard Business School calls it “vertical integration,” but back when they were inventing 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 in search of the desired “first look” position.
It took Doug and Sean 11 years to earn the position that would permit them to deliver the world’s most gorgeous diamonds at the world’s lowest cost.
Due to the fact that our Spence diamond purchasers are the first to see the newly-cut diamonds each day, this is possible only. Put five hundred expert diamond purchasers in a space packed with diamonds and they’ll all choose precisely the same stones. The best diamonds go to the buyer who gets “first look.”.
Here’s exactly what it takes to win “first look”:. 1: Always, constantly, constantly do precisely what you stated you would do. This is very important when you’re asking permission to examine, purchase and transfer gems worth $850,000 an ounce. Spence won acceptance into the inner circle in simply 11 brief years, a record.
2: Be able to pay completely right away. The cost goes up if you ask for even 24 hours to pay. Due to the high cost of diamonds, time is quite actually cash in the diamond-cutting business. The quicker a diamond cutting residence gets paid for their freshly-cut diamonds, the sooner they can reinvest that cash in rough diamond crystals that need to be cut and polished.
3: Have a diamond buyer standing by at all times.
Spence is the only company willing to fulfill all 3 requirements.
Believe us, it isn’t simple. If we had to supply a big chain of precious jewelry shops in malls, we couldn’t do it either. Many of the big chains have at least 400 areas. The most significant has nearly 2,000 shops. The bureaucracy of these big organizations - and the sheer volume of diamonds they need - makes it impossible for them to purchase diamonds like Spence Diamonds.
The Spence diamond buyer gets first take a look at the freshly-cut diamonds each day, due to the fact that Spence is the only company willing to supply a buyer who can pay on the spot. The diamonds we leave are offered to brokers who sell them to wholesalers who sell them to dealers who sell them to corporate diamond purchasers who send them to their shops around the globe. And each of the middlemen who touches the diamond includes a little markup.
Spence removes all these middlemen so you can get first look diamonds at the most affordable possible cost. (Quality for quality, our cost is typically 16 to 19 % much better.).
Our several thousand prototype engagement rings are on display in each of our 7 brick-and-mortar display rooms. We ‘d have more than $112,000,000 invested in stock and the bring expenses would require us to raise our prices if each of these was strong gold with actual diamonds. We constructed a state-of -the-art production facility that permits us to develop precious jewelry on demand.
Harvard calls it “just-in-time stock ” and “perfect vertical integration.”.
We call it “low overhead” and “no middlemen.” Our clients win.
Diamond Cut— the most important of the 4Cs:. The shine of a diamond will be figured out by its cut.
The science is remarkable: light is collected through the table, then bounced from feature to facet within the diamond as though it were in a home of mirrors. When all the light converges in the heart of the stone, it radiates outward through the crown facets in a silent explosion of scintillation. Twinkle. Glimmer. Radiance. Cut. Cut. Cut. Every diamond cutter knows ways to do this. The geometry isn’t a trick, so don’t be deceived by all the hyperbole about “master cutters” and other such nonsense. The basic reason that 99.71 percent of all diamonds are cut incorrectly is due to the fact that diamonds are offered by weight and at $850,000 an ounce, there is powerful temptation to fudge the positioning of the facets 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 optimize their weight without misaligning any facets.
And now you understand why Doug Spence and Sean Jones made it their life’s work to attain “first look” position. The buyer who gets “first look” at the freshly-cut diamonds will constantly choose 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 correctly - for optimum sparkle - due to the fact that Spence diamond purchasers constantly get “first look.”.
With the company’s high degree of vertical integration, Spence Diamonds is happy to offer its consumers the finest possible value and the market’s most extensive assurance. Even more details on Spence Diamonds, Canada’s largest Canadian-owned diamond expert, can be discovered at spencediamonds.com.