Spence Diamonds: Always Cut for Optimum Shimmer
Visibly Better Diamonds, Obviously Better Prices
Harvard Business School calls it “vertical integration,” however back when they were creating it, Doug Spence, creator 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 penetrated the dark jungle of diamond wholesalers, brokers, agents and consortiums searching for the desired “first appearance” position.
It took Doug and Sean 11 years to make the position that would allow them to deliver the world’s most stunning diamonds at the world’s most affordable rate.
This is possible just due to the fact that our Spence diamond buyers are the first to see the newly-cut diamonds every day. Put five hundred professional diamond buyers in a room full of diamonds and they’ll all choose precisely the exact same stones. The very best diamonds go to the purchaser who gets “first appearance.”.
Right here’s what it requires to win “first appearance”:. 1: Always, always, always do precisely what you stated you would do. This is exceptionally crucial when you’re asking authorization to analyze, get and deliver 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 promptly. If you request for even 24 hours to pay, the rate increases. Due to the high expense of diamonds, time is quite actually cash in the diamond-cutting company. The faster a diamond cutting house earns for their freshly-cut diamonds, the sooner 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 company willing to satisfy all 3 criteria.
If we had to provide a huge chain of jewelry stores in malls, we couldn’t do it either. The bureaucracy of these huge companies - and the sheer volume of diamonds they need - makes it difficult for them to get diamonds like Spence Diamonds.
The Spence diamond purchaser gets first take a look at the freshly-cut diamonds every day, due to the fact that Spence is the only company willing to provide a buyer who can pay on the spot. The diamonds we leave are sold to brokers who offer them to wholesalers who offer them to dealerships who offer them to business diamond buyers who send them to their stores worldwide. And each of the intermediaries who touches the diamond adds a little markup.
Spence gets rid of all these intermediaries so you can get first appearance diamonds at the most affordable possible rate. (Quality for quality, our rate 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 display rooms. We ‘d have more than $112,000,000 invested in inventory and the carrying expenses would require us to raise our costs if each of these was strong gold with genuine diamonds. We constructed a state-of -the-art manufacturing facility that allows us to create jewelry on demand.
Harvard calls it “just-in-time inventory ” and “ideal vertical integration.”.
We call it “low overhead” and “no intermediaries.” Our customers win.
Diamond Cut— the most crucial of the 4Cs:. The radiance of a diamond will be determined by its cut.
The science is amazing: light is collected with 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 incorrectly is due to the fact that diamonds are sold by weight and at $850,000 an ounce, there is effective temptation to fudge the alignment of the aspects so that the finished diamond will be heavier. The diamonds that are cut appropriately are the ones whose natural shape makes it possible for the diamond cutter to optimize their weight without misaligning any aspects.
And now you comprehend why Doug Spence and Sean Jones made it their life’s work to attain “first appearance” position. The purchaser who gets “first appearance” at the freshly-cut diamonds will always choose the ones whose natural shape made it possible for them to be cut for maximum radiance. And that, gentle reader, is the pedigree of every Spence diamond.
Every Spence diamond is cut properly - for maximum glimmer - due to the fact that Spence diamond buyers always get “first appearance.”.
Founded in 1978, Spence Diamonds has retail places across Canada in Vancouver, Calgary, Edmonton and Toronto. Spence Diamonds’ distinct strategy to company allows its clients to freely try out thousands of various ring designs from their open jewelry showcases, in an unwinded and non-intimidating environment. With the company’s high degree of vertical integration, Spence Diamonds is proud to provide its clients the best possible value and the industry’s most comprehensive assurance. Even more details on Spence Diamonds, Canada’s biggest Canadian-owned diamond specialist, can be discovered at spencediamonds.com.