Spence Diamonds: Constantly Cut for Maximum Shimmer
Noticeably Better Diamonds, Obviously Better Prices
Harvard Business School calls it “vertical integration,” but back when they were designing it, Doug Spence, founder of Spence Diamonds, and Sean Jones, CEO of Spence Diamonds, called it “searching 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 in search of the sought after “first appearance” position.
It took Doug and Sean 11 years to make the position that would permit them to deliver the world’s most beautiful diamonds at the world’s most affordable cost.
This is possible just because our Spence diamond buyers are the first to see the newly-cut diamonds every day. Put five hundred professional diamond buyers in a room filled with diamonds and they’ll all choose specifically the exact same stones. The best diamonds go to the purchaser who gets “first appearance.”.
Below’s what it requires to win “first appearance”:. 1: Always, always, always do specifically what you stated you would do. This is exceptionally vital when you’re asking authorization to examine, buy and transport gems worth $850,000 an ounce. Spence won acceptance into the inner circle in just 11 brief years, a record.
2: Be able to pay completely right away. If you request even 24 hours to pay, the cost increases. Due to the high expense of diamonds, time is quite literally cash in the diamond-cutting business. The more quickly a diamond cutting residence makes money for their freshly-cut diamonds, the earlier 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 company going to fulfill all 3 criteria.
If we had to provide a huge chain of precious jewelry establishments in shopping centers, we couldn’t do it either. The bureaucracy of these big companies - and the sheer volume of diamonds they need - makes it difficult for them to buy diamonds like Spence Diamonds.
The Spence diamond purchaser gets first take a look at the freshly-cut diamonds every day, because Spence is the only company going to offer a buyer 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 establishments around the world. And each of the intermediaries who touches the diamond adds a little markup.
Spence removes all these intermediaries so you can get first appearance diamonds at the lowest possible cost. (Quality for quality, our cost is usually 16 to 19 % much better.).
Our a number of 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 genuine diamonds, we ‘d have more than $112,000,000 invested in inventory and the lugging costs would require us to raise our rates. We built a state-of -the-art production facility that enables us to develop precious jewelry on need.
Harvard calls it “just-in-time inventory ” and “best vertical integration.”.
We call it “low overhead” and “no intermediaries.” Our clients win.
Diamond Cut— the most vital of the 4Cs:. The shine of a diamond will be identified by its cut.
The science is remarkable: light is collected through the table, then bounced from aspect to facet within the diamond as though it were in a home of mirrors. Then, when all the light converges in the heart of the stone, it radiates outward through the crown facets in a silent explosion of scintillation. Twinkle. Glimmer. Shine. Cut. Cut. Cut. Every diamond cutter understands the best ways to do this. The geometry isn’t a secret, so don’t be misinformed by all the embellishment about “master cutters” and other such nonsense. The easy reason that 99.71 percent of all diamonds are cut incorrectly is because 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 appropriately are the ones whose natural shape makes it possible for the diamond cutter to maximize their weight without misaligning any aspects.
And now you understand why Doug Spence and Sean Jones made it their life’s work to attain “first appearance” position. The purchaser who gets “first appearance” at the freshly-cut diamonds will always choose the ones whose natural shape made it possible for them to be cut for maximum shine. And that, gentle reader, is the pedigree of every Spence diamond.
Every Spence diamond is cut properly - for maximum sparkle - because Spence diamond buyers always get “first appearance.”.
With the company’s high degree of vertical integration, Spence Diamonds is pleased to offer its clients the best possible value and the market’s most comprehensive warranty. More information on Spence Diamonds, Canada’s biggest Canadian-owned diamond expert, can be found at spencediamonds.com.