Spence Diamonds: Constantly Cut for Optimum Sparkle
Visibly Better Diamonds, Obviously Better Prices
Harvard Business School calls it “vertical integration,” but back when they were creating 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, agents and consortiums in search of the coveted “very first appearance” position.
It took Doug and Sean 11 years to earn the position that would permit them to provide the world’s most lovely diamonds at the world’s lowest cost.
Due to the fact that our Spence diamond buyers are the very first to see the newly-cut diamonds each day, this is possible just. Put five hundred expert diamond buyers in a space packed with diamonds and they’ll all select specifically the very same stones. The best diamonds go to the purchaser who gets “very first appearance.”.
Below’s exactly what it requires to win “very first appearance”:. 1: Always, constantly, constantly do specifically what you said you would do. This is exceptionally essential when you’re asking permission to analyze, get and carry gemstones worth $850,000 an ounce. Spence won approval into the inner circle in just 11 short years, a record.
2: Be able to pay in full promptly. If you request for even 24 hours to pay, the cost goes up. Due to the high expense of diamonds, time is rather literally cash in the diamond-cutting company. The faster a diamond cutting home makes money for their freshly-cut diamonds, the sooner they can reinvest that cash in rough diamond crystals that have to be cut and polished.
3: Have a diamond purchaser standing by at all times.
Spence is the only business willing to meet all 3 requirements.
Believe us, it isn’t really easy. We could not do it either if we had to provide a big chain of precious jewelry stores in malls. Many of the big chains have at least 400 locations. The most significant has almost 2,000 stores. The bureaucracy of these big organizations - and the sheer volume of diamonds they need - makes it impossible for them to get diamonds like Spence Diamonds.
The Spence diamond purchaser gets very first look at the freshly-cut diamonds each day, due to the fact that Spence is the only business willing to supply a purchaser who can pay on the spot. The diamonds we leave behind are offered to brokers who offer them to wholesalers who offer them to dealerships who offer them to corporate diamond buyers who send them to their stores all over the world. And each of the middlemen who touches the diamond adds a little markup.
Spence gets rid of all these middlemen so you can get very first appearance diamonds at the most affordable possible cost. (Quality for quality, our cost is normally 16 to 19 % much better.).
Our several 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 bought inventory and the carrying costs would force us to raise our costs. We developed a state-of -the-art manufacturing center that permits us to create precious jewelry on need.
Harvard calls it “just-in-time inventory ” and “ideal 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 determined by its cut.
The science is incredible: light is gathered with the table, then bounced from aspect 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 with the crown facets in a silent explosion of scintillation. Twinkle. Sparkle. Radiance. Cut. Cut. Cut. Every diamond cutter knows ways to do this. The geometry isn’t really a secret, so do not be misled by all the embellishment about “master cutters” and other such nonsense. The easy reason that 99.71 percent of all diamonds are cut improperly is due to the fact that diamonds are offered by weight and at $850,000 an ounce, there is powerful temptation to fudge the alignment of the features 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 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 select the ones whose natural shape made it possible for them to be cut for optimum shine. And that, gentle reader, is the pedigree of every Spence diamond.
Every Spence diamond is cut correctly - for optimum glimmer - due to the fact that Spence diamond buyers constantly get “very first appearance.”.
Founded in 1978, Spence Diamonds has retail locations across Canada in Vancouver, Calgary, Edmonton and Toronto. Spence Diamonds’ unique technique to company permits its customers to freely try on thousands of various ring designs from their open precious jewelry displays, in an unwinded and non-intimidating environment. With the business’s high degree of vertical integration, Spence Diamonds is proud to provide its customers the very best possible value and the industry’s most extensive warranty. More info on Spence Diamonds, Canada’s biggest Canadian-owned diamond specialist, can be discovered at spencediamonds.com.