How to Safely Buy a Diamond Online - Part 1 of 3
It is now possible to save 40% to 60% by purchasing a diamond
engagement ring from an online diamond retailer, rather than
from a bricks-n-mortar High Street jeweller. Online diamond
retailers don't have retail shops, sales staff, large diamond
inventories and other associated operating expenses and are
therefore able to pass on the cost savings to consumers.
Of course, a diamond might be one of the largest one-off
purchases made in one's lifetime and so it is understandable
that many people may be uncomfortable paying for a diamond
before it has been seen and examined.
However, as long as the correct research and precautions are
taken there should be no reason to be fearful about buying
diamonds from Internet diamond merchants.
The three most important aspects of the pre-purchase checks that
must be carried out are:
1. Assurance that the diamond business is legitimate,
2. Assurance that the payment method is secure,
3. The risk of merchant fraud or failed delivery is mitigated.
In part one of this three-part series we examine the first
aspect which is assuring that the diamond merchant is running a
Assurance of legitimacy of diamond businesses
The physical address of the online diamond retailer should be
prominently displayed somewhere within the website. It should
give the full street address and postcode. A PO Box is not
acceptable. Conduct a search on the full address using Google
and make sure that other results are returned that include the
name of the business along with that address to check that the
physical address is not a bogus one.
Landline Phone Number Active & Manned
A contact landline phone number should be prominently displayed.
Ring the landline number given and make sure that either a
salesperson or the proprietor of the business answers and is
helpful and knowledgeable with questions about the company and
Testimonials Available For Inspection
All businesses should have records of customer testimonials. Ask
if a few of these can be emailed or faxed through for inspection.
Is the diamond merchant's business registered with UK Company
House and does it display its Company Registration number? This
registration number can be entered through the UK Company House
website to check the registered business details of the diamond
If the diamond business is registered then this gives you
additional reassurance that it is a legitimate business. If the
diamond business is not registered this may indicate the
business is being run as a sole proprietorship, or it may
indicate that the business is not legitimate.
Is the business registered for VAT and is the number displayed
on the website? If it is then this is another positive indicator
that the business is a legitimate and profitable one. The
threshold for taxable supplies for VAT registration is