Spence Diamonds: Always Cut for Maximum Sparkle
Noticeably Better Diamonds, Obviously Better Prices
Harvard Business School calls it “vertical integration,” but back when they were designing 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 trying to find the desired “very first appearance” position.
It took Doug and Sean 11 years to make the position that would allow them to provide the world’s most lovely diamonds at the world’s lowest rate.
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 packed with diamonds and they’ll all choose specifically the very same stones. The best diamonds go to the purchaser who gets “very first appearance.”.
Right here’s what it takes to win “very first appearance”:. 1: Always, constantly, constantly do specifically what you stated you would do. This is very essential when you’re asking consent to examine, purchase and transport gems worth $850,000 an ounce. Spence won approval into the inner circle in simply 11 brief years, a record.
2: Be able to pay completely right away. The rate goes up if you ask for even 24 hours to pay. Due to the high expense of diamonds, time is rather literally money in the diamond-cutting company. The quicker a diamond cutting residence gets paid for their freshly-cut diamonds, the quicker they can reinvest that money in rough diamond crystals that need to be cut and polished.
3: Have a diamond purchaser standing by at all times.
Spence is the only business willing to fulfill all 3 criteria.
If we had to provide a big chain of precious jewelry establishments in malls, we couldn’t do it either. The bureaucracy of these huge organizations - and the sheer volume of diamonds they require - makes it impossible for them to purchase diamonds like Spence Diamonds.
The Spence diamond purchaser gets very first take a look at the freshly-cut diamonds every day, since Spence is the only business willing to supply a purchaser who can pay on the spot. The diamonds we leave behind are sold to brokers who offer them to wholesalers who offer them to dealerships who offer them to business diamond purchasers who send them to their establishments around the world. And each of the middlemen who touches the diamond adds a little markup.
Spence removes all these middlemen so you can get very first appearance diamonds at the lowest possible rate. (Quality for quality, our rate is generally 16 to 19 % much better.).
Our a number of thousand prototype engagement rings are on display in each of our 7 brick-and-mortar showrooms. If each of these was solid gold with real diamonds, we ‘d have more than $112,000,000 bought inventory and the carrying costs would compel us to raise our prices. So we constructed a state-of -the-art manufacturing facility that allows us to create precious jewelry on need.
Harvard calls it “just-in-time inventory ” and “best vertical integration.”.
We call it “low overhead” and “no middlemen.” Our customers win.
Diamond Cut— the most essential of the 4Cs:. The shine of a diamond will be figured out by its cut.
The science is fantastic: light is gathered through the table, then bounced from feature to facet within the diamond as though it were in a house of mirrors. The basic reason that 99.71 percent of all diamonds are cut incorrectly is since diamonds are sold by weight and at $850,000 an ounce, there is effective temptation to fudge the alignment of the features so that the completed 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 features.
And now you understand why Doug Spence and Sean Jones made it their life’s work to attain “very first appearance” position. The purchaser 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 optimum shine. Which, gentle reader, is the pedigree of every Spence diamond.
Every Spence diamond is cut correctly - for optimum sparkle - since Spence diamond purchasers constantly get “very first appearance.”.
Founded in 1978, Spence Diamonds has retail areas throughout Canada in Vancouver, Calgary, Edmonton and Toronto. Spence Diamonds’ distinct approach to company allows its consumers to freely try on hundreds of various ring designs from their open precious jewelry displays, in a relaxed and non-intimidating environment. With the business’s high degree of vertical integration, Spence Diamonds is proud to provide its consumers the very best possible value and the market’s most thorough assurance. More information on Spence Diamonds, Canada’s biggest Canadian-owned diamond expert, can be found at spencediamonds.com.