Spence Diamonds: Constantly Cut for Optimum Shimmer
Visibly Better Diamonds, Obviously Better Prices
Harvard Business School calls it “vertical integration,” however back when they were designing 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, representatives and consortiums looking for the coveted “very first look” position.
It took Doug and Sean 11 years to earn the position that would allow them to provide the world’s most beautiful diamonds at the world’s cheapest 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 room packed with diamonds and they’ll all select exactly the exact same stones. The very best diamonds go to the buyer who gets “very first look.”.
Below’s what it takes to win “very first look”:. 1: Always, constantly, constantly do exactly what you stated you would do. This is incredibly important when you’re asking authorization to analyze, buy and deliver 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 right away. The cost goes up if you ask for even 24 hours to pay. Due to the high cost of diamonds, time is quite literally cash in the diamond-cutting business. The faster a diamond cutting home earns for their freshly-cut diamonds, the earlier they can reinvest that cash in rough diamond crystals that need to be cut and polished.
3: Have a diamond buyer standing by at all times.
Spence is the only company going to satisfy all 3 requirements.
If we had to supply a huge chain of jewelry stores in shopping centers, we could not do it either. The bureaucracy of these big organizations - and the sheer volume of diamonds they need - makes it impossible for them to buy diamonds like Spence Diamonds.
The Spence diamond buyer gets very first take a look at the freshly-cut diamonds every day, since Spence is the only company going to supply a purchaser who can pay on the spot. The diamonds we leave are offered to brokers who offer them to wholesalers who offer them to dealers who offer them to business diamond buyers who send them to their stores around the globe. And each of the intermediaries who touches the diamond includes a little markup.
Spence eliminates all these intermediaries so you can get very first look diamonds at the lowest possible cost. (Quality for quality, our cost is normally 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 actual diamonds, we ‘d have more than $112,000,000 purchased inventory and the bring expenses would force us to raise our costs. We developed a state-of -the-art production facility that allows us to create jewelry on need.
Harvard calls it “just-in-time inventory ” and “perfect vertical integration.”.
We call it “low overhead” and “no intermediaries.” Our customers win.
Diamond Cut— the most important of the 4Cs:. The shine of a diamond will be determined by its cut.
The science is outstanding: light is gathered with the table, then bounced from feature 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 improperly 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 effectively are the ones whose natural shape makes it possible for the diamond cutter to maximize their weight without misaligning any facets.
And now you comprehend why Doug Spence and Sean Jones made it their life’s work to accomplish “very first look” position. The buyer who gets “very 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. Which, gentle reader, is the pedigree of every Spence diamond.
Every Spence diamond is cut properly - for optimum shimmer - since Spence diamond buyers constantly get “very first look.”.
Founded in 1978, Spence Diamonds has retail locations throughout Canada in Vancouver, Calgary, Edmonton and Toronto. Spence Diamonds’ special method to business allows its consumers to easily try out thousands of different ring designs from their open jewelry displays, in an unwinded and non-intimidating environment. Through the company’s high degree of vertical integration, Spence Diamonds is proud to provide its consumers the best possible value and the market’s most detailed guarantee. More info on Spence Diamonds, Canada’s biggest Canadian-owned diamond professional, can be discovered at spencediamonds.com.