Spence Diamonds: Constantly Cut for Maximum Glimmer
Visibly Better Diamonds, Obviously Better Prices
Harvard Business School calls it “vertical integration,” however back when they were creating it, Doug Spence, founder of Spence Diamonds, and Sean Jones, CEO of Spence Diamonds, called it “searching 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, representatives and consortiums trying to find the desired “very first appearance” 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 most affordable cost.
Since our Spence diamond purchasers are the very first to see the newly-cut diamonds each day, this is possible just. Put five hundred expert diamond purchasers in a space loaded with diamonds and they’ll all choose specifically the exact same stones. The best diamonds go to the buyer who gets “very first appearance.”.
Right here’s exactly what it requires to win “very first appearance”:. 1: Always, constantly, constantly do specifically what you said you would do. This is very important when you’re asking approval to analyze, get and transfer gemstones worth $850,000 an ounce. Spence won acceptance into the inner circle in just 11 brief years, a record.
2: Be able to pay completely instantly. The cost goes up if you ask for even 24 hours to pay. Due to the high expense of diamonds, time is quite actually cash in the diamond-cutting business. The faster a diamond cutting house earns 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 going to satisfy all 3 requirements.
If we had to provide a big chain of precious jewelry stores in shopping malls, we could not do it either. The bureaucracy of these huge companies - and the sheer volume of diamonds they require - makes it difficult for them to get diamonds like Spence Diamonds.
The Spence diamond buyer gets very first look at the freshly-cut diamonds every day, because Spence is the only company going to provide a purchaser who can pay on the spot. The diamonds we leave are offered to brokers who sell them to wholesalers who sell them to dealerships who sell them to corporate diamond purchasers 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 very first appearance diamonds at the most affordable possible cost. (Quality for quality, our cost is generally 16 to 19 % much better.).
Our numerous thousand prototype engagement rings are on display in each of our 7 brick-and-mortar display rooms. If each of these was solid gold with real diamonds, we ‘d have more than $112,000,000 invested in stock and the carrying costs would force us to raise our rates. So we built a state-of -the-art manufacturing center that enables us to create precious jewelry on demand.
Harvard calls it “just-in-time stock ” and “best vertical integration.”.
We call it “low overhead” and “no intermediaries.” Our clients win.
Diamond Cut— the most important of the 4Cs:. The brilliance of a diamond will be identified by its cut.
The science is amazing: light is collected with the table, then bounced from facet to facet within the diamond as though it were in a residence of mirrors. The simple reason that 99.71 percent of all diamonds are cut improperly is because diamonds are offered by weight and at $850,000 an ounce, there is effective temptation to fudge the alignment of the elements so that the finished diamond will be heavier. The diamonds that are cut properly are the ones whose natural shape makes it possible for the diamond cutter to optimize their weight without misaligning any elements.
And now you comprehend why Doug Spence and Sean Jones made it their life’s work to achieve “very first appearance” position. The buyer who gets “very first appearance” at the freshly-cut diamonds will constantly choose the ones whose natural shape made it possible for them to be cut for maximum brilliance. Which, gentle reader, is the pedigree of every Spence diamond.
Every Spence diamond is cut correctly - for maximum glimmer - because Spence diamond purchasers constantly get “very first appearance.”.
With the company’s high degree of vertical integration, Spence Diamonds is happy to provide its clients the finest possible value and the industry’s most thorough assurance. More information on Spence Diamonds, Canada’s largest Canadian-owned diamond specialist, can be discovered at spencediamonds.com.