About Lumera

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).

Direct Diamond Broker

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.

How It Works

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.

From Manufacturer to Customer

When a diamond is purchased online (with or without the help of a Lumera Diamond Consultant), the chosen diamond goes through three important steps:

The diamond is reviewed by Lumera to confirm that the GIA certificate is accurate, and that the diamond in question is in fact the diamond represented on the certificate. Lumera's quality guarantee puts this confirmation in writing for the customer.

The diamond is appraised for insurance purposes. While an independent appraisal by its very nature is preferable to one generated by the retailer, Lumera appraisals are both accurate and conservative. The appraised value is calculated without reference to the purchase price. Instead, a survey of comparable diamonds is performed to ascertain the current market value of each diamond.

The diamond is reviewed by a consultant to insure that it conforms to any additional criteria stipulated by the customer (for instance, that an oval diamond have a only very light bow tie, or that the diamond has no visible inclusions, etc).

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. A shipping confirmation email is sent, notifying the recipient of the upcoming delivery.

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.

Independent Customer Advocate

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 Use the Traditional Approach?

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:

Ignorance. Most buyers are unaware of the options available today in purchasing diamonds.
Perceived risk. Purchasing from a traditional retailer feels less risky; the buyer can see the diamond prior to purchase, speak face to face with a sales person, and knows exactly where to find him if there is an issue or question after the sale.
Sales. Even though the sale price at a traditional retailer is substantially higher than the everyday Lumera price, most consumers respond favorably to a promotion (whether real or not). In addition, purchasers are able to negotiate a better price in about half of traditional jewelry store transactions, again creating the perception of a "great deal".

If you are not convinced that Lumera's approach is superior to buying through traditional channels, try this simple test:

Search online for a 1 carat GIA certified round diamond of typical quality (for example - Very Good cut, G color, SI1 clarity, Very Good polish and symmetry). Choosing a diamond of this type is helpful because they are relatively common (allowing for easy comparison), and they tend to be the most competitively priced. Round diamonds also come with a GIA Cut Grade, insuring that you are comparing like quality diamonds (comparison of fancy shapes is much more difficult, as the cut evaluation is more subjective).

Next, print out the GIA report for your chosen diamond and note the Lumera price.
Finally, take your information to any jewelry store (independent, mall based, family owned, major chain, wherever you are considering purchasing from) and ask to be shown a comparable GIA diamond, including the certificate. When you have a diamond that matches your certificate in all respects, compare the prices. You will see firsthand how much you save when you purchase from Lumera.

Learn the most common mistakes when buying a diamond from a jeweler's showroom.

For questions regarding how Lumera works, please contact us at [email protected]. You can also chat online; a representative will usually respond immediately during store hours.

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