A common question asked by our customers is "Why are the prices lower than at a jewelry store or online retailer?" The answer to the question lies in how Lumera works to connect buyers and manufacturers directly, simultaneously increasing customer choice while reducing prices (by eliminating the traditional retail store from the equation).
Lumera is a diamond broker, which means the diamonds displayed on LumeraDiamonds.com are shown to buyers (retail customers like you) on behalf of sellers (diamond manufacturers from around the world).
Until recently, the supply chain for diamonds was very tightly controlled. Manufacturers sold to dealers, who in turn would sell to retail jewelry stores. A customer's choice was limited to the few diamonds that a particular retailer chose to stock in their store. In contrast, Lumera offers tens of thousands of diamonds direct from the largest diamond manufacturers around the world, giving consumers more options and dramatically reduced prices.
Because of the increased selection, buyers also have the opportunity to purchase higher quality as well. Traditionally, the highest quality diamonds were found predominantly in higher end stores. A moderately priced jeweler tends to carry moderate quality diamonds because that is what sells best. It is not feasible to carry the inventory required to effectively service every customer, whether high end, moderate, or opening price. So, higher quality tends to carry with it even higher mark-ups, commensurate with the pricing practices of specialty jewelers. At Lumera, all quality levels are represented, from moderate to flawless; and all at very competitive prices.
Lumera displays approximately 50,000 diamonds online on behalf of numerous diamond manufacturers. In addition, Lumera has access to over a half a million diamonds not shown online (representing the majority of diamonds available for sale in the U.S.). All of these diamonds are available for purchase by our customers.
The price shown online is the manufacturer's price plus a small mark up (around one fifth of the traditional mark up on diamonds). When a supplier offers a very aggressive price, that discount is passed directly to you, the purchaser. This encourages our suppliers to price competitively, so that their diamonds stand out from their competition (other manufacturers). You benefit from this competition between suppliers in the form of lower prices. One of the reasons Lumera carries only GIA certified diamonds is so that prices can be compared across diamonds using consistent, independent standards of evaluation.
Each day, manufacturers give Lumera their complete inventory availability, so the diamonds displayed online are constantly changing. When a diamond is sold, it is removed from the online listing.
When a diamond is purchased online (with or without the help of a Lumera Diamond Consultant), the chosen diamond goes through three important steps:
Once the diamond has been through each of these three steps, it undergoes a final inspection just before packing. The diamond (and ring, if mounted), GIA certificate, invoice, appraisal, return guarantee, and all other paperwork are reviewed for accuracy and completeness.
Finally, the package is sent, fully insured, via FedEx Overnight for delivery the next day. Diamonds usually arrive within 3 business days of the initial order date.
Every customer is assigned a diamond consultant (even if the diamond was purchased without the help of a consultant). Your dedicated consultant will insure the diamond is delivered on time and answer any questions you may have, and folow up in a few weeks to insure that your expectations were met or exceeded.
To maintain neutrality, Lumera has no special relationships with any one supplier, and is in no way incentivized to purchase from one manufacturer over another. This allows Lumera to guide you in the selection of a diamond based solely on quality and price; acting on your behalf rather than the manufacturer's.
In addition, no Lumera employee is paid based on sales. You will never feel pressured to make a decision, or to compromise your criteria. One of the great advantages of the Lumera approach is that you are not limited to only those diamonds we own. Your choices are virtually limitless, and our desire is to help you find the best diamond at the best price.
Why then would anyone purchase a diamond from a traditional retailer if the choices are limited, the prices higher, and the average quality lower? Reasons include:
If you are not convinced that Lumera's approach is superior to buying through traditional channels, try this simple test:
Learn the most common mistakes when buying a diamond from a jeweler's showroom.
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