Online or Internet Jewellery (Jewelry) Shopping - Pros and Cons
Internet or online stores have become an important resource for the purchase of jewelry. It is estimated that web purchases account for between 5-10% of total cost of jewellery items bought in North America. The trend is growing and catching up in other parts of the world. Since the Internet has become an important part of our lives, it is important to consider some of the advantages and disadvantages of online jewellery shopping.
The diamond rings account for a large proportion of the online jewellery purchases. Most often it is the only and the most expensive jewelry item worn by women/men on a daily basis. It is estimated that an average middle class person in the Western world spends between $3000- $10,000 on a diamond engagement ring. The concept of buying an expensive diamond engagement ring is fast becoming a worldwide trend. Diamonds are expensive and people are drawn to the online stores for some cost saving. Most online diamond dealers or sites do not have any stores or
showrooms. Hence, their overhead costs in terms of showroom leases and sales personnel is low. Further, in contrast to most brick and mortar or real jewellery shops, the online stores do not keep any (large) inventory of the diamond in house. They most often order a diamond from the whole seller after a customer has placed an order and paid for it. The larger online stores, because of their greater purchasing power, are also able to obtain diamonds at a better wholesale price than smaller jewellery stores. Because of these factors, the price that one could possibly obtain from an online dealer for an equivalent diamond tends to be somewhat lower than from a “real jewellery store”. However, there are several pros and cons of buying Diamond/Gold jewellery online.
The main advantage of the online stores is their somewhat lower cost. These sites are also equally accessible to persons living in a small community or a large city. The online diamond stores could also provide a larger choice in terms of the availability of diamonds in different sizes (i.e. Carat weight), Clarity, Colors and Cut categories (see Diamond Buying Guide).
The biggest disadvantage of buying online is that one does not get a realistic picture of the item that one is buying. You would not know how an item looks until you have paid for and received your shipment. In most cases, because of the high cost, one can order only a single item from an online store. Hence, it is difficult to compare and feel two or more items side by side. The jewellery shopping, for many persons, is a very personal experience and most people do not mind paying a little extra for the knowledge and comfort of knowing that they are getting exactly what they are see and like. However, as indicated above, the choice of diamonds that might be available in a “Real Jewelry Store” could be somewhat limited.
Hence, if you have looked around for diamonds and know exactly what kind of diamond you want to buy (i.e. in terms of Carat size, Clarity, Cut, Color and also Cut grade (or brilliance)), the online stores might be a suitable option for you. However, before you decide to buy from an online store, please pay careful attention to the return policies of the site, their customer service, and prices. Although, many online stores let you return an item between 10-30 days from the day it is shipped (check for the individual store’s policy), the returning of an item could be a hassle and it also costs money (check on it). You should also remember, that if you are customizing a jewelry item (getting the diamond mounted in a ring), it would be difficult to return it unless there is an error in its customization. In view of these considerations, unless there is a substantial price difference between a traditional jewelry store and the online store, it may not be worthwhile to purchase online. These considerations also apply to the purchase of Gold jewellery.
