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To add to my comment a little, and this was touched up in the article. The vast majority of rough diamonds are sent to India for cutting/polishing, before bein
by bluedevil2k 7y ago
To add to my comment a little, and this was touched up in the article. The vast majority of rough diamonds are sent to India for cutting/polishing, before being sold to the retail channels (Tiffany, Zales, Wal-Mart, etc). The profit margin for the miners is rather small, the profit margin for the cutters/polishers is razor thin, and the profit margin for the retailers is HUGE.
- Invictus0 7y agoIs it at all possible to buy direct from the cutters and polishers?
- bluedevil2k 7y agoJust speculating here, maybe if you fly to India and visit their cutting shops in Surat. The fairest prices as I understand it are on BlueNile, which charges about 10-15% above cut price, which is much better than the 100+% you'll find in retail.
- jquery 7y ago+1 for BlueNile, you can do better than them but they are a huge improvement over the mall stores.
- yding 7y agoYes it's possible, but you need to do your research. Many of the big ones go to the Hong Kong Jewelry and Gem fair.
- conductr 7y agoI have some knowledge of retail side. It’s a huge gross margin, but a ton of costs make net margins slim. So basically same all round.