The Art Craft of Buying High Quality Diamonds and Getting your Money’s worth

There are many things that consumers in general desire and each of these desires fall into a decision making process that fall into three different categories, the first being low involvement, medium involvement and high involvement consumer decision making.

Low involvement decision making is the simplest among the three where the prices of products and services are low to an extent that consumers do not think too deeply before buying.

Examples of products that require low involvement decision making includes buying cheap cosmetic jewellery or bread whereas medium involvement decision making could revolve around buying a computer or a mid-level diamond engagement ring.

In contrast, high involvement consumer decision making revolve around expensive products or even investments such as buying a house, gold bar or even high quality diamonds.

This article will examine the high involvement decision making process of seasoned diamond buyers who either buy loose or wholesale diamonds for investment purposes or for leisure which does not matter mainly due to the fact that natural diamonds or even lab grown diamonds are generally deemed as ‘very expensive’.

The decision making process of those who intend to buy diamonds online start with ‘a reason’ that revolves around the ‘why’. Why do they want to buy diamond? Is it because it will be worth more in future, or is it for an engagement ring or piece of jewellery or is it for a collection of precious gemstones?

Once the reason is established, the consumer considers the pros and cons of owning the diamond or diamonds and if the pros outweigh the cons from the consumer’s perspective, only then does the buyer proceeds to the next step (this first stage may take weeks, months or even years).   

The next step involves determining the budget which basically revolves around the amount of money or resources that the consumer is willing to spend on obtaining the diamond.

This is a delicate process, however it is usually established within a very short period of time and after this is established the consumer moves to the next long process which is due diligence. The due diligence generally involves research about the 4 C’s of a diamond which is all about weight (carat), the colour of the diamond, the level of clarity that the diamond owns, and the cut of the diamond.

Each of the 4 Cs carries value depending on the grade which determines the diamond’s value.

Once the consumer become familiar with the concept of the 4 Cs, they need to understand the contents of the grading and authenticity report of the diamond that generally come from a reputed gemmological lab which contains every bit of information about the diamond that goes beyond the 4C’s such as the ‘source; of the diamond which is all about avoiding blood diamonds which could have a negative impact on the value of the diamond especially if the diamond is purchased as an investment.

After all of the above only then will the purchase take place, in summary high involvement consumer purchases such as diamonds is an art that ensures that the buyer gets his or her money’s worth!