Buying diamonds in bulk can be a double-edged sword for wholesalers. While it can lead to significant cost savings, it also requires significant upfront investment, which can be difficult for small to medium-sized businesses. Moreover, the risk of getting stuck with unsold inventory can be high, leading to dead stock.
Diamond businesses often end up buying diamonds that they don't necessarily need in order to get volume discounts. Also, they wait until they sell a large amount of stock to build up cash to buy in bulk. Moreover, small to medium-sized diamond businesses often don't have the same buying power as large corporations, making it challenging to access volume discounts offered by diamond manufacturers.
To help diamond wholesalers access volume discounts and reduce their costs, Liquid Diamonds initiated a group deal with a diamond manufacturer in India. The group deal allowed multiple diamond wholesalers to pool their purchases, thereby accessing volume discounts that they wouldn't have been able to access by themselves.
One anchor buyer initiated the deal and got first dibs on the items. They then spread the word to other buyers in their network, as well as to other buyers on the Liquid Diamonds platform.
Liquid Diamonds physically inspected every stone through their QC team and consolidated all payments and deliveries to NYC.
What our buyers had to say
Benefit of Group Discount
Even when we are not able to buy enough quantity for a volume discount, we are able to get the benefit of a group discount when buying in small quantities through Liquid Diamonds. Also, we are happy with the goods we have gotten from Liquid Diamonds which means that their inspection process is working properly.
The group deal allowed diamond wholesalers to access an additional 6% in discounts, reducing their costs and increasing their competitiveness.
The group deal was a win-win for both the diamond wholesalers and the diamond manufacturer in India. The buyers got a discount that is otherwise only available when buying in large volumes, while the supplier was able to liquidate a larger portion of their inventory at once without having to manage individual buyers.
Through the group deal, Liquid Diamonds helped diamond wholesalers in NYC to access volume discounts from a diamond manufacturer in India, reducing their costs and increasing their competitiveness.
Since the success of the first group deal, we have done several deals with various large suppliers. This is just one of the many ways in which Liquid Diamonds helps diamond businesses to thrive in an increasingly competitive market.