Diamond Brokers. Such a name probably sends chills up peoples’ spines as it brings memories of the mot recent stock market meltdown. However, these individuals are not the same as those people on Wall Street. A diamond broker is someone who sells diamonds, usually at a wholesale price and quite frankly can be your best friend when purchasing a diamond.
Diamond brokers officially serve as middlemen for purchasing and selling diamonds. They charge fees, but that’s the nature of the business. However, diamond brokers also usually have some experience appraising, cutting, mounting and examining diamonds. The ideal diamond broker has GIA or HRD training, that being training from the Gemological Institute of America or the Hode Raad voor de Diamant which is essentially the Belgian equivalent. The training they have is the ability to recognize, examine and classify diamonds. Any other skills diamond brokers have are most likely from work experience.
Who do diamond brokers deal with? Pretty much everyone in the industry, from miners to jewelry store owners. Diamond brokers usually have contacts all over the world, typically in New York, Tel Aviv, Hong Kong and most importantly, Antwerp, the diamond capital of the world. So diamond brokers know the trends and what products are available.
Why is it a good idea to use a broker when you want to sell or more importantly, buy a diamond? The reason is quite simple. Your diamond broker will be able to negotiate a reasonable price for a diamond which saves you money by contacting the seller directly. In addition, if you are looking for a specific type of diamond with a particular cut and color (such as a princess cut colorless diamond or a round cut pink diamond), a diamond broker will have the time and resources to track down the stone you want. After all, it is what he is paid to do. Finally, it’s a good idea to use a diamond brokerbecause he will be able to educate you about diamonds and what you should know about them.
However, since there are dishonest people, it is important to check that your diamond broker actually has the credentials he claims to have. You can do this by checking with the GIA or with past clients. If you can be wary and careful, you can save a huge amount of money and learn quite bit about diamonds via a diamond broker.
