Rick Casper offers guidelines on how to start a Diamond Business

Diamonds are the most precious gems on the earth and it attracts a lot of businessmen. As gemstones like diamonds do not usually depreciate in value, the business remains so successful. Most of the time, the value of a gemstone depends on supply and as diamonds are low in supply they are costly.

Rick Casper talks about how to start a diamond business

In order to start a diamond business one can be successful if they know how to overcome the high start-up costs and get a good profit. As one cannot cultivate or make gemstones they will have to pay for cut gemstones or rough gemstones. This cost can become very high liable to the type of gemstone one is purchasing. The most expensive are typically diamonds while stones like topaz, sapphires, aquamarines, and tanzanite are cheaper.

Rick Casper is a professional diamond gemologist. He offers some important tips on how to start the diamond business:

  • First of all when planning to start a diamond business one must have patience, time, and money to invest. These are perhaps the basics of starting a business.
  • In the next step one will have to determine how to want to sell the diamond. One can purchase rough gemstones and then sell them in the market or buy uncut gemstones, and get them cut by a gemstone cutter and sell them to jewelry stores.
  • The trader should then try to build assurance with the target market and this can be done by having a great range of certified gemstones. The diamonds for instance should be verified by a gem test center such as GIA that comes with a record. This will assist the buyers to make the right decision as they will be able to build trust.
  • Just setting up the business will not help as precious gemstones like diamond require extra protection. Usually, the diamonds are kept in small, padded boxes so that they can remain safeguarded from various environmental elements.
  • Determine the audience by finding out whether the gemstones will be sold to high-end retailers or it will be sold as loose gemstones online. Thus, it is very important for the business person to select the right audience and cater to their needs. Diamond retailers will require certification and in depth knowledge of the product.

Apart from this Rick says that when planning to start a diamond business one should know as much as they can about gemology. He further adds that one can get in touch with a gemologist as they are very much knowledgeable in regards to stones and they use advanced instruments and laboratory services to test these gems.

Rick Casper says that diamond business no doubt is a profitable business provided that all the above mentioned tips are followed. Being a gemologist, Rick further says that in order to get the diamond business up and running, one must know how to attract the right audience and the target market.