How To Buy Loose Diamonds For Your Jewelry Business

what's going on guys in this video i'm going to show you how to buy wholesale loose diamonds for your jewelry business this is going to be a short video straight to the point let's begin so if you guys watch my other videos you know that there's two ways to buy diamonds the first way is in the jewelry district in your city the advantage for this is that you don't have to wait you get the diamonds right away but the downside is that you won't be paying real wholesale prices you're going to be overpaying and the second way and the best way is to go on the website called alibaba.com and buy wholesale diamonds there alibaba is a chinese-based website and most people use it to buy wholesale items for their ebay and amazon business but really what it is is a list of manufacturers and suppliers worldwide a lot of the diamond dealers in the jewelry district buy from these exact same spars the only downside from buying on alibaba is that you had to wait for the items to ship which usually takes a couple of weeks back in the day finding a real diamond supplier used to be a problem but now because the internet is much easier and most dealers will work directly with you all right guys now there's one very important rule that you have to follow when it comes to buying diamonds and that is you never buy diamonds until the golden piece is casted and your diamond setter tells you the exact size of the stones you should be buying so for example if we're going to make this ring right here and our 3d designer says that we need these stone sizes we're not going to buy the diamonds until the piece is casted in gold we take it to the diamond cider and he tells the actual sizes we need to buy all right guys now we're going to go on alibaba.com to make our free account we're going to click right here join free and right here we're going to fill out the information you're going to select buyer you're going to type in your real email address make a password confirm the password for company name just make up any company name you guys don't need to have a legally registered company or any kind of legal documents type in your first name and last name a real phone number and then click a green register all right once our account is made we're going to type in natural boost diamonds hit the search and right here you guys will see the results so the first thing we're going to do is we're going to avoid all diamonds that are coming from china on the bottom right here you guys can see what country the supplier is in so this seller right here is in india let's click on him so the first thing you guys want to do is see if the supplier is a gold supplier this means that they've been verified by alibaba and they're legit the second thing you guys should do is make sure the seller accepts paypal payments you guys should only deal with suppliers that are set if the supplier does not accept paypal do not deal with them also never send wire transfers or bank transfers all right guys we're gonna go back and take a look at the seller's description we're gonna scroll down so right here he's showing some of his prices just so you guys know these prices are not the real prices you can always negotiate to a lower price this supplier is able to supply everything from small diamonds to a 10 carat stone in different uh shapes and cuts so that's very good they have a 14 day return policy and here they have their phone number their uh website and also they have their physical effort so that's great now the suppliers in india so when you guys contact them make sure that you contact them at the right time there's always going to be a time difference you're going to click right here when the seller is online there's going to be a chat now button you're going to click on that and you'll be able to talk to swearing all right before you guys contact the supplier there's a couple of things i want to go over first of all a lot of these suppliers don't speak english that well so use very very basic english you don't even have to use proper grammar with them now the second thing is you guys want to let the supplier know that you're interested in forming a long-term business partnership with them and not just doing a one-time purchase all right so let me show you guys what a conversation with a supplier should look like so i'm going to ask them what is the best price for one care to vs1 to vs2 gh color diamonds and just so you guys know carrot is the weight of diamonds so one of these diamonds would be around point zero two carat so around 50 stones would make one carrot we're going to tell him that we want to ship to la and we're going to tell him that we don't want to waste time and play the prize game so the supplier responded he wants 400 per carat now i'm gonna ask him what about two millimeters so as you guys know when the diamond size increases so there's the price per carat for two millimeters it's gonna be 40 more so 440 per carat just so you guys know if we're gonna buy three millimeter stones which are significantly bigger the price is going to be around 600 per character now i'm gonna ask him what are the wholesale prices what is the discount if i buy five carats 10 carats or 20 carats and here you guys can see the prices he responded now this is not much of a discount as you actually start making purchase from the supplier and build a relationship these prices are going to decrease significantly now i'm going to ask him what is the price for si and right here you guys can see the si prices so now we're going to do is we're going to give him an offer i'm going to ask him would you accept 380 for 1.7 vs and what he did is he sent a counter offer so he's saying 390 plus 25 for shipping so 415 total and so what i'm gonna do is i'm gonna counter that again would you do 395 with shipping and he's saying 3.95 is not possible so this is where you guys come in and let him know that hey i'm not trying to make a one-time purchase you make you know a good amount of money on one sale i'm actually trying to start a business partnership and be a long-term business partner with you so let's see what he says so he's basically agreeing he's saying we didn't make anything on this order but we'll accept 395. i'm gonna say okay just to confirm their conflict free diamonds yes they're conflict three please send me your paypal address and you're simply gonna do the transaction outside of alibaba and send him 395 dollars to his paypal address which is right here i'm gonna ask him how long is shipping and he's saying 10 to 14 days due to the pandemic and that's it it's that simple to buy diamonds so the next step is when you guys actually get the diamond is to take it with two different jewelers and to verify the quality you guys can take it to any jeweler in the mall all right guys so let's say you're gonna make a ring that's gonna need 10 1.7 millimeter stones 15 two millimeter stones and five three millimeter stones each 1.7 millimeter stone is going to weigh about 0.02 of a carat so 50 stone is going to equal a carrot each stone is called a two pointer by the way so 10 stones are going to equal to 0.20 of a carat point 20 multiplied by 400 is 80 so each stone is going to cost 8 our 2 millimeter stones are gonna be three pointers so each stone is gonna weigh point three of a carat we're gonna need 15 stones so that's point 45 carats 45 multiplied by 420 is 189 each stone cost 12.60 cents and we have five three millimeter stones each stone weighs 0.10 of a carat so 0.5 multiplied by 600 is 300 so each stone costs 60 so the total carrot weight of our piece is 1.15 and the total cost of diamonds is 569 alright i hope you guys enjoyed the video if you did please hit the like button and subscribe and i'll see you guys next one

Channel: Online Empires

Views: 41,957

Rating: 4.9582343 out of 5

Keywords: how, to, buy, loose, diamonds, diamond, vvs, vs, si, vs-si, gia, tiffany, cut, clarity, carat, carats, how to set diamonds, princess, Lauren b jewelry, traxnyc, tv johnny, gold, jewellery, gem, avian and co, natural, heat treat, canary

Id: NJlBOgknID8

Length: 5min 58sec (358 seconds)

Published: Sat Aug 29 2020