Retailers always need to be certain that they are checking and re-checking their sources for their wholesale products and that goes for diamond buyers as much as any other kind of buyer.

You never know who to trust especially in the diamond trade so in order to avoid running into any real problems you should always take the necessary steps to check your diamond sources to make sure that you are not getting taken for a scam. The diamond business is tough enough without realizing that the last wholesaler you trusted ran off with your money and never got you the product you ordered.

You own a diamond retail store and every day you are bombarded with marketing pieces for new wholesalers that are trying to sell you the newest and greatest diamond products at the lowest prices you have ever seen. Always remember that the old saying of if it is too good to be true then it probably is not true always applies but the problem with that is you miss out on some great deals if you wind up trusting no one. But in the past you have been burned by wholesalers that promise great deals and then wind up just stealing your money and disappearing. The problem with that is that you have also had your fair share of great deals that really happened. So what do you do? There are ways you can protect yourself from getting scammed by diamond wholesalers and there are steps you can take to make sure that if you do not get product you at least do not lose out on your money.

It is a bit naive to say that you should protect yourself by not doing business with foreign companies because most diamond wholesalers have foreign sources. However it is not out of the question to have a policy that says that you do not do business with any wholesaler that does not have a physical address in the United States. We are not talking about post office boxes or mail stop addresses at places that handle mail for people. We are talking a physical office address. Get an address from a wholesaler and then use the many tools on the internet to confirm that the address is legitimate.

You could use the many satellite imaging websites to confirm that the address exists and that there is a building where the wholesaler says there is. Then you can use the phone number and address search websites to confirm that the address is indeed the address of the wholesaler’s company. If anything seems out of place, or you cannot confirm anything definitely, then do not do business with that wholesaler. The basis of a good business relationship is trust and if you cannot trust the wholesaler then do not give them your money.



Demand expedited delivery and use a method of payment that can be rescinded if the product does not arrive. Find out what your bank’s guidelines on wire transfers are and see if they have a period of time where you can rescind the wire transfer if your wholesaler breaks their agreement. Accept nothing less than expedited delivery and if you do not receive the product within the time limit you agreed upon then immediately cancel payment. The scam artist is relying on your willingness to give them a second chance. Do not give them that second chance, cancel that payment right away.

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