The Disappearing Diamond, and This Week’s Other News

“What I found so interesting about this piece wasn’t the article itself but the response it elicited. In this Instore series, called The Real Deal, the author presents a scenario in the diamond or jewelry trade that in this case is fictional but could happen in real life. 

In this issue, a jewelry-store manager sold a diamond featured on a wholesaler’s site, only to find out afterward the stone was already purchased. While she tried to find a similar stone to replace it, the couple that ordered it was not happy with any of the other diamonds and the manager lost the sale.

However, the story really begins when you read the comments from other jewelers and wholesalers who responded. This gives the real story — everything from blaming the store manager for not ordering while the couple was in the store before telling them she had it, to discussing the need to create relationships with wholesalers, to how much inventory you can keep on hand, and the need for in-person viewing via memo. While the story itself only poses one scenario, the diversity of the comments speaks to the wealth of knowledge the industry has and provides solid advice for others on how to address these and similar real issues they face daily.”