| It is now possible to save 40% to 60% by | | | | answers and is helpful and knowledgeable with |
| purchasing a diamond engagement ring from an | | | | questions about the company and diamonds. |
| online diamond retailer, rather than from a | | | | |
| bricks-n-mortar High Street jeweller. Online | | | | Testimonials Available For Inspection |
| diamond retailers don't have retail shops, | | | | |
| sales staff, large diamond inventories and | | | | All businesses should have records of |
| other associated operating expenses and are | | | | customer testimonials. Ask if a few of these |
| therefore able to pass on the cost savings to | | | | can be emailed or faxed through for |
| consumers. | | | | inspection. |
| | | | |
| Of course, a diamond might be one of the | | | | Company Number |
| largest one-off purchases made in one's | | | | |
| lifetime and so it is understandable that | | | | Is the diamond merchant's business registered |
| many people may be uncomfortable paying for a | | | | with UK Company House and does it display its |
| diamond before it has been seen and examined. | | | | Company Registration number? This |
| | | | registration number can be entered through |
| However, as long as the correct research and | | | | the UK Company House website to check the |
| precautions are taken there should be no | | | | registered business details of the diamond |
| reason to be fearful about buying diamonds | | | | merchant. |
| from Internet diamond merchants. | | | | |
| | | | If the diamond business is registered then |
| The three most important aspects of the | | | | this gives you additional reassurance that it |
| pre-purchase checks that must be carried out | | | | is a legitimate business. If the diamond |
| are: | | | | business is not registered this may indicate |
| | | | the business is being run as a sole |
| 1. Assurance that the diamond business is | | | | proprietorship, or it may indicate that the |
| legitimate, | | | | business is not legitimate. |
| | | | |
| 2. Assurance that the payment method is | | | | VAT Number |
| secure, | | | | |
| | | | Is the business registered for VAT and is the |
| 3. The risk of merchant fraud or failed | | | | number displayed on the website? If it is |
| delivery is mitigated. | | | | then this is another positive indicator that |
| | | | the business is a legitimate and profitable |
| In part one of this three-part series we | | | | one. The threshold for taxable supplies for |
| examine the first aspect which is assuring | | | | VAT registration is £60,000 so most |
| that the diamond merchant is running a | | | | diamond merchants would have the need to be |
| legitimate business. | | | | VAT registered. |
| | | | |
| Assurance of legitimacy of diamond businesses | | | | Trade Association Membership |
| | | | |
| Physical Address | | | | There are several jewellery industry |
| | | | associations in the UK. If the diamond |
| The physical address of the online diamond | | | | merchant that you are considering purchasing |
| retailer should be prominently displayed | | | | from is a member of an association then this |
| somewhere within the website. It should give | | | | gives further assurance of the reputability |
| the full street address and postcode. A PO | | | | of that merchant. Some of the most prominent |
| Box is not acceptable. Conduct a search on | | | | associations are the British Jewellery |
| the full address using Google and make sure | | | | Association, the Assay Office and the |
| that other results are returned that include | | | | National Association of Goldsmiths. These can |
| the name of the business along with that | | | | all be contacted to confirm any claims of |
| address to check that the physical address is | | | | membership. |
| not a bogus one. | | | | |
| | | | Key Staff Named With Photos |
| Landline Phone Number Active & Manned | | | | |
| | | | Another reassurance of the legitimacy of the |
| A contact landline phone number should be | | | | business is when key staff members are named |
| prominently displayed. Ring the landline | | | | and have their photographs displayed within |
| number given and make sure that either a | | | | the site. |
| salesperson or the proprietor of the business | | | | |