Jewelers Pass Up Distress-Sale Diamonds

The American diamond trade likes to complain that foreign dealers are poaching on their business, offering fire-sale discounts to U.S. retailers. Independent retailers see it differently. While they acknowledge receiving more calls from foreign dealers in the past year, most say they’re passing up alleged bargains in favor of diamond dealers who offer consistent, accurate grading and reliable service. That’s the word from a JCK survey of nearly 300 independent retailers throughout the country. Overseas dealers, it appears, are taking little business from established diamond suppliers. Loyalty pays. Just over half the retailers surveyed say they’ve been “cold-called” by foreign diamond dealers. The percentage is higher—about two-thirds—for stores with top Jewelers Board of Trade credit ratings. Of all those called, only 15% say they’ve purchased goods. And even among t

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