Fake diamonds? Excessive price? Unwarranted purchase of jewellery? Beware of all these threats and more that might put you in a trying financial situation. Moreover, when you are into a business selling diamond jewellery, you must make sure that you are not tricked. Buy only from a reliable diamond wholesaler, check the latest market prices for the genuine diamond jewellery and their resale value. To help you further we have also focused on the three major and most common mistakes that most retailers are prone to committing. Also, read how to avert them.
Whether you are dealing with a diamond distributor in Hong Kong or in any other leading cities, these mistakes must be avoided at any cost.
Here Are 3 Common Mistakes Retailers Make When Buying Diamond Jewellery:
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Sticking to the changing standard price: Believe it or not but no two diamonds are the same. Therefore, you must not expect any standard valuation of diamonds like gold that is sold per gram at a fixed price. Diamonds come in different sizes, cuts and quality because of which their prices vary. So, when you buy diamonds or diamond jewellery, do not be tricked by the so-called ‘standard price.’ Stick to your profits, check each piece carefully and settle on how much price should be paid for the purchase even though it is in a bulk order.
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Paying huge amounts: As a retailer your profit mantra is simple, ‘Buy for less, sell for more.’ Following this mantra to the core, you should make prior calculations to assume what your relative profit might be. Once that is settled, visit the wholesaler and get the required diamond jewellery. However, avoid pocketing out hefty sums of money because if you do not get a handsome turnover after reselling the diamond jewellery then your investment becomes null and void. Also, learn about the hidden charges and taxes that the wholesaler can levy on your bill without your knowledge.
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Believing too soon: If you at all have to believe anything then it has to be the certificate guaranteeing the ingenuity of the diamond jewellery. It is better not to blindly believe a diamond wholesaler even though you have been dealing with him for a long time. When transactions of big amounts are concerned, maintain all professional standards and principles. Take a receipt of the payment, keep proper accounts of the dealings and have details of the wholesaler.
A business of wholesale diamond jewellery in Hong Kong is sure to succeed only if the wholesaler sells the best and high-quality diamonds. Since real diamonds are extremely costly no buyer would risk any frauds or fake products. Go for the authentic diamond jewellery that lasts forever and so will your reputation as a retailer.
