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Make $7,000 weekly with Diamond

diamond, a mineral composed of pure carbon. It is the hardest naturally occurring substance known; it is also the most popular gemstone. Because of their extreme hardness, diamonds have a number of important industrial applications.

A diamonds’ price is determined primarily by the 4 Cs of the diamond. On the wholesale level, diamond prices are first based on a diamond shape and size range (e.g. 1.00ct – 1.49ct). After that, it is broken down by color and clarity and then priced per carat. That price is then multiplied by the specific weight of the diamond. Other qualities impact the price as well such as cut, fluorescence, types of imperfections, etc.

The role of a trader is purchasing in bulk and reselling to retailers on a profitable margin. The diamond trader salary has high potential when the capital is available to purchase large quantities at a discount and resell them around the marketplace.

The business of diamonds is extremely high value and the diamond broker salary potential is high for a busy broker. The diamonds themselves have several important placements in the supply chain. They are first mined and these rough diamonds are sold either directly to retailers or to traders.

The broker differs from the trader because they never actually own the diamonds. A broker facilitates the purchase of diamonds between a seller and a buyer. This can happen at varying levels. For example, a broker may manage the sale of a rare, private collection of diamonds between two private parties. The broker may also manage the sale of raw diamonds between the mine and a retail partner.

Building a Broker Business

If you work with an existing company, they may help with leads and cover some of your costs as a broker. Regardless, an employed and independent broker both must complete many of the same objectives.

The broker is tasked with connecting buyers and sellers. The value in the brokerage business is making that connection while safely facilitating the transfer of the diamonds and money. The broker must setup an escrow service hold currency while the diamonds are verified by the broker or a certified inspector.

After the diamonds are verified, the broker can manage the hands on aspect of the transfer with personal security or use a security company to manage the transfer. As the physical transfer takes place, the funds are released to the seller. The broker makes money on a percentage cut of the sale or a flat fee depending on the preferred business model.

In many cases, the broker charges a service fee to cover overhead and a percentage that essentially functions as a commission. A diamond broker salary varies widely based on the number and value of transactions managed each year.

Selling Brokerage Services

Selling the service requires working to find sellers and buyers alike. You must find diamond mines, private party sellers and collectors that frequently buy and sell diamonds. This process requires research to locate contacts and networking skills to make the personal connections and introduce yourself along with your services.

After acquiring numerous sources of diamonds for sale, you must find the clientele that wants to purchase diamonds. Working with retailers to safely broker buys with mines is a good model. It cuts out the traders and opens the retail business to a higher margin on their purchase. This justifies the cost of your brokerage service and both parties benefit.

Outside of retailers, you can advertise online and you can network in the small world of high-end jewelry, so that you can build a list of potential private party buyers. A monthly newsletter with inventory for sale is a good idea, because your subscribers can view product but can only bid when they see something desirable.

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