Spence Diamonds: Constantly Cut for Maximum Sparkle
Noticeably Better Diamonds, Obviously Better Prices
Harvard Business School calls it “vertical integration,” but back when they were inventing 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 looking for the coveted “first look” position.
It took Doug and Sean 11 years to earn the position that would permit them to provide the world’s most stunning diamonds at the world’s least expensive price.
Due to the fact that our Spence diamond buyers are the first to see the newly-cut diamonds each day, this is possible only. Put five hundred professional diamond buyers in a space loaded with diamonds and they’ll all select precisely the same stones. The very best diamonds go to the buyer who gets “first look.”.
Right here’s what it requires to win “first look”:. 1: Always, constantly, constantly do precisely what you stated you would do. This is incredibly crucial when you’re asking permission to analyze, buy and deliver gemstones 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 promptly. If you ask for even 24 hours to pay, the price increases. Due to the high cost of diamonds, time is rather actually cash in the diamond-cutting company. The more quickly a diamond cutting house earns for their freshly-cut diamonds, the faster they can reinvest that cash 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 willing to meet all 3 requirements.
Believe us, it isn’t really easy. If we needed to provide a huge chain of jewelry establishments in malls, we couldn’t do it either. The majority of the big chains have at least 400 areas. The biggest has almost 2,000 establishments. The bureaucracy of these big companies - and the sheer volume of diamonds they require - makes it impossible for them to buy diamonds like Spence Diamonds.
The Spence diamond buyer gets first take a look at the freshly-cut diamonds each day, since Spence is the only business willing to offer a purchaser who can pay on the spot. The diamonds we leave behind are offered to brokers who sell them to wholesalers who sell them to dealers who sell them to business diamond buyers who send them to their establishments all over the world. And each of the intermediaries who touches the diamond adds a little markup.
Spence eliminates 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. If each of these was solid gold with genuine diamonds, we ‘d have more than $112,000,000 bought inventory and the bring expenses would compel us to raise our prices. So we developed a state-of -the-art manufacturing facility that permits us to develop jewelry on demand.
Harvard calls it “just-in-time inventory ” and “best vertical integration.”.
We call it “low overhead” and “no intermediaries.” Our customers win.
Diamond Cut— the most crucial of the 4Cs:. The shine of a diamond will be identified by its cut.
The science is fantastic: light is gathered with the table, then bounced from facet to facet within the diamond as though it were in a residence of mirrors. The simple reason that 99.71 percent of all diamonds are cut incorrectly is since diamonds are offered by weight and at $850,000 an ounce, there is effective temptation to fudge the alignment of the facets so that the completed diamond will be heavier. The diamonds that are cut correctly are the ones whose natural shape makes it possible for the diamond cutter to optimize their weight without misaligning any facets.
And now you comprehend why Doug Spence and Sean Jones made it their life’s work to attain “first look” position. The buyer who gets “first look” 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 shimmer - since Spence diamond buyers constantly get “first look.”.
Founded in 1978, Spence Diamonds has retail areas across Canada in Vancouver, Calgary, Edmonton and Toronto. Spence Diamonds’ one-of-a-kind technique to company permits its clients to easily try out thousands of various ring designs from their open jewelry showcases, in a relaxed and non-intimidating environment. With the business’s high degree of vertical integration, Spence Diamonds is proud to provide its clients the best possible value and the market’s most comprehensive guarantee. Even more info on Spence Diamonds, Canada’s biggest Canadian-owned diamond expert, can be discovered at spencediamonds.com.