Spence Diamonds: Constantly Cut for Maximum Sparkle
Noticeably Better Diamonds, Obviously Better Prices
Harvard Business School calls it “vertical integration,” however back when they were designing 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 permeated the dark jungle of diamond wholesalers, brokers, agents and consortiums in search of the coveted “first look” position.
It took Doug and Sean 11 years to earn the position that would allow them to provide the world’s most gorgeous diamonds at the world’s least expensive price.
Since our Spence diamond buyers are the first to see the newly-cut diamonds each day, this is possible just. Put five hundred expert diamond buyers in a room full of diamonds and they’ll all pick specifically the very same stones. The very best diamonds go to the buyer who gets “first look.”.
Right here’s exactly what it requires to win “first look”:. 1: Always, always, always do specifically what you stated you would do. This is very crucial when you’re asking consent to examine, get and transfer gems worth $850,000 an ounce. Spence won approval into the inner circle in simply 11 short years, a record.
2: Be able to pay completely quickly. The price 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 business. The faster a diamond cutting residence gets paid for their freshly-cut diamonds, the quicker they can reinvest that money in rough diamond crystals that have to be cut and polished.
3: Have a diamond buyer standing by at all times.
Spence is the only business going to meet all 3 criteria.
Believe us, it isn’t simple. We could not do it either if we had to supply a huge chain of precious jewelry shops in shopping malls. Most of the huge chains have at least 400 places. The biggest has nearly 2,000 shops. The bureaucracy of these huge organizations - and the sheer volume of diamonds they need - makes it difficult for them to get diamonds like Spence Diamonds.
The Spence diamond buyer gets first take a look at the freshly-cut diamonds each day, due to the fact that Spence is the only business going to supply a purchaser who can pay on the spot. The diamonds we leave behind are sold to brokers who sell them to wholesalers who sell them to dealerships who sell them to corporate diamond buyers who send them to their shops all over the world. 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 look diamonds at the lowest possible price. (Quality for quality, our price is usually 16 to 19 % better.).
Our several thousand prototype engagement rings are on display in each of our 7 brick-and-mortar showrooms. We ‘d have more than $112,000,000 invested in stock and the bring expenses would compel us to raise our costs if each of these was solid gold with actual diamonds. We developed a state-of -the-art manufacturing facility that permits us to create precious jewelry on need.
Harvard calls it “just-in-time stock ” and “perfect vertical integration.”.
We call it “low overhead” and “no intermediaries.” Our clients win.
Diamond Cut— the most crucial of the 4Cs:. The sparkle of a diamond will be determined by its cut.
The science is fantastic: light is collected through the table, then bounced from feature to facet within the diamond as though it were in a home of mirrors. When all the light converges in the heart of the stone, it radiates outward through the crown facets in a silent surge of scintillation. Twinkle. Sparkle. Radiance. Cut. Cut. Cut. Every diamond cutter understands ways to do this. The geometry isn’t a key, so don’t be misinformed by all the embellishment about “master cutters” and other such nonsense. The simple reason that 99.71 percent of all diamonds are cut improperly is due to the fact that diamonds are sold by weight and at $850,000 an ounce, there is powerful temptation to fudge the positioning of the aspects 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 aspects.
And now you understand why Doug Spence and Sean Jones made it their life’s work to accomplish “first look” position. The buyer who gets “first look” at the freshly-cut diamonds will always pick the ones whose natural shape made it possible for them to be cut for optimum sparkle. And that, gentle reader, is the pedigree of every Spence diamond.
Every Spence diamond is cut properly - for optimum glimmer - due to the fact that Spence diamond buyers always get “first look.”.
Founded in 1978, Spence Diamonds has retail places throughout Canada in Vancouver, Calgary, Edmonton and Toronto. Spence Diamonds’ special approach to business permits its consumers to freely try out thousands 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 offer its consumers the best possible value and the market’s most comprehensive guarantee. Even more details on Spence Diamonds, Canada’s biggest Canadian-owned diamond professional, can be found at spencediamonds.com.