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Explore Q Report's Content Centre for expert advice on jewellery insurance. You can also read e-guides and blogs, watch videos and more.

Explore Q Report's Content Centre for expert advice on jewellery insurance. You can also read e-guides and blogs, watch videos and more.

Jewellery, engagement ring & watch advice, plus insurance tips & industry insights. 

Watch expert tips, discover insurance benefits & hear real customer stories. 

Find answers to common questions about jewellery, engagement ring & watch insurance. 

Click here to access important policy documents - Product Disclosure Statement, Financial Services Guide, and Policy Wording.

Click here to access the Target Market Determination (TMD) document.

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What You Need to Know About Wholesale Diamonds

Q Report Team

Updated on March 18, 2025
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If you’ve been researching where to buy diamonds, you may have come across retailers claiming to offer wholesale prices. But can everyday consumers really buy diamonds at a wholesale rate? 

In this post, we look into the difference between wholesale and retail diamonds and things to watch out for to ensure you buy well.

What is a Wholesale Diamond?

Just like most other products out there, loose diamonds can be bought in large quantities for a discounted rate. In the jewellery world, this ‘wholesale’ transaction is usually conducted between diamond polishers and diamond retailers. 

  • Diamond polishers are the people who create ‘polished’ diamonds from rough diamonds.
  • Diamond retailers are the brick-and-mortar stores who sell their creations to everyday customers.

Are Wholesale Diamonds Less Expensive?

Diamond retailers can buy larger quantities of polished stones at a discounted rate, which is set by a universally referenced pricing standard, the Rapaport Diamond Report (commonly referred to as the ‘Rap Report’). Before being granted access to these prices, retailers must prove themselves to be a genuine diamond trading business, in a process that includes references and ID checks.

Diamond retailers can buy their stones for the prices listed on the Rapaport Diamond Report, and even further discounted. Everyday consumers can’t. 

Some jewellers claim to offer wholesale diamonds direct to consumers. While they might offer competitive prices, they aren’t in fact wholesalers.

Precautions to Take When Buying a Diamond

Wherever you buy your diamond, there are a few precautions to take to ensure you get what you’re paying for.

1. Ask for a Diamond Grading Certificate

A grading certificate is an official document that outlines the origins, authenticity and quality of the diamond you’re buying. It’s created by an independent accredited laboratory, such as the Gemological Institute of America (GIA) and the American Gem Society (AGS). In Australia, Gem Studies Laboratory (GSL) as well as the Diamond Certification Laboratory of Australia (DCLA) are both highly reputable laboratories. 

If you’re buying a diamond above 0.50 carats, it’s essential that it’s accompanied by a grading certificate. All trusted jewellers should be able to provide this documentation.

2. Ask if it’s Clarity Enhanced

Clarity enhancements like fracture filling are common and widely-accepted, although buyers should never purchase stones without being told these procedures have taken place.

3. Use Caution When Shopping Online

Buying diamonds online is becoming more popular, however, there have been cases of unlucky shoppers getting caught out. Remember, diamonds will rarely look the same in person as they do on a screen, no matter how good the photography. After all, diamonds are all about light; which is incredibly easy to manipulate by using photo editing like colour enhancements. Most importantly however, ensure that you know what you are buying - is it natural or synthetic?

4. Watch Out for Synthetics

Synthetic diamonds are impossible to spot by the lay consumer. But diamond simulants like cubic zirconia, glass and lab-grown stones can even dupe the professionals. For example, the Czech National Museum in Prague discovered that a large number of their gems were fakes made from worthless cut glass.

5. Use Caution When Buying Overseas

While travelling in countries like Thailand, Sri Lanka and India, you might be tempted by offers of loose coloured gemstones for an irresistible price. Unfortunately, too many buyers have been caught out by jewellery scams like this one, and unknowingly bought treated glass sold as genuine coloured stones. 

As you can see, there’s a lot of research that goes into finding a quality diamond. Visiting a Q Certified Jeweller is the best way to ensure you receive trusted, personalised advice without often-misleading sales pitches like ‘wholesale diamonds’.

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Purchase Amount

To get an accurate insurance quote, please provide the amount from your purchase receipt.

Don't have the receipt?

If you don't have the receipt, you can provide the most recent valuation amount instead.

OK
Related Posts
Featured Posts
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Jewellery Insurance

Instant Quote
play-audio
Listen to article
/

If you’ve been researching where to buy diamonds, you may have come across retailers claiming to offer wholesale prices. But can everyday consumers really buy diamonds at a wholesale rate? 

In this post, we look into the difference between wholesale and retail diamonds and things to watch out for to ensure you buy well.

What is a Wholesale Diamond?

Just like most other products out there, loose diamonds can be bought in large quantities for a discounted rate. In the jewellery world, this ‘wholesale’ transaction is usually conducted between diamond polishers and diamond retailers. 

  • Diamond polishers are the people who create ‘polished’ diamonds from rough diamonds.
  • Diamond retailers are the brick-and-mortar stores who sell their creations to everyday customers.

Are Wholesale Diamonds Less Expensive?

Diamond retailers can buy larger quantities of polished stones at a discounted rate, which is set by a universally referenced pricing standard, the Rapaport Diamond Report (commonly referred to as the ‘Rap Report’). Before being granted access to these prices, retailers must prove themselves to be a genuine diamond trading business, in a process that includes references and ID checks.

Diamond retailers can buy their stones for the prices listed on the Rapaport Diamond Report, and even further discounted. Everyday consumers can’t. 

Some jewellers claim to offer wholesale diamonds direct to consumers. While they might offer competitive prices, they aren’t in fact wholesalers.

Precautions to Take When Buying a Diamond

Wherever you buy your diamond, there are a few precautions to take to ensure you get what you’re paying for.

1. Ask for a Diamond Grading Certificate

A grading certificate is an official document that outlines the origins, authenticity and quality of the diamond you’re buying. It’s created by an independent accredited laboratory, such as the Gemological Institute of America (GIA) and the American Gem Society (AGS). In Australia, Gem Studies Laboratory (GSL) as well as the Diamond Certification Laboratory of Australia (DCLA) are both highly reputable laboratories. 

If you’re buying a diamond above 0.50 carats, it’s essential that it’s accompanied by a grading certificate. All trusted jewellers should be able to provide this documentation.

2. Ask if it’s Clarity Enhanced

Clarity enhancements like fracture filling are common and widely-accepted, although buyers should never purchase stones without being told these procedures have taken place.

3. Use Caution When Shopping Online

Buying diamonds online is becoming more popular, however, there have been cases of unlucky shoppers getting caught out. Remember, diamonds will rarely look the same in person as they do on a screen, no matter how good the photography. After all, diamonds are all about light; which is incredibly easy to manipulate by using photo editing like colour enhancements. Most importantly however, ensure that you know what you are buying - is it natural or synthetic?

4. Watch Out for Synthetics

Synthetic diamonds are impossible to spot by the lay consumer. But diamond simulants like cubic zirconia, glass and lab-grown stones can even dupe the professionals. For example, the Czech National Museum in Prague discovered that a large number of their gems were fakes made from worthless cut glass.

5. Use Caution When Buying Overseas

While travelling in countries like Thailand, Sri Lanka and India, you might be tempted by offers of loose coloured gemstones for an irresistible price. Unfortunately, too many buyers have been caught out by jewellery scams like this one, and unknowingly bought treated glass sold as genuine coloured stones. 

As you can see, there’s a lot of research that goes into finding a quality diamond. Visiting a Q Certified Jeweller is the best way to ensure you receive trusted, personalised advice without often-misleading sales pitches like ‘wholesale diamonds’.

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Table of Contents

Introduction
Understanding the 4 Cs of Diamonds
Diamond Shapes
Choosing a Ring Style
Selecting a Ring Retailer

Understanding Mechanical Movements

Rolex-super-precision

Unlike their battery-powered quartz counterparts, luxury watches have a beating heart – the mechanical movement. First created in the 14th century, large, weight-driven tower clocks with verge escapements and foliot balances marked the dawn of mechanical timekeeping.

Today, the core concept of mechanical movements remains unchanged from its original conception. It involves an intricate arrangement of gears, springs, and an escapement powered by a wound mainspring. This precision engineering allows for smooth operation and precise timekeeping.

Manual watch movements require the wearer to wind the crown periodically. Automatic watch movements, on the other hand, utilise the wearer's movements to keep the mainspring wound, offering a convenient everyday solution.

The Patek Philippe Calatrava, with its ultra-thin manual movement, exemplifies the elegance of traditional watchmaking. On the other hand, the Rolex Oyster Perpetual, with its self-winding mechanism epitomises practicality and durability.

Whether manual or automatic, a mechanical movement imbues a luxury watch with a soul, a testament to human ingenuity and a treasured heirloom for generations to come

Luxury Watch Complications: Exploring Hidden Features & Functionality

Luxury watches often boast 'complications,' intricate mechanisms that add layers of sophistication, style and utility. Here, we explore some of the most fascinating complications created by the best luxury watch brands.

Statistic Heading

Rolex-super-precision

Unlike their battery-powered quartz counterparts, luxury watches have a beating heart – the mechanical movement. First created in the 14th century, large, weight-driven tower clocks with verge escapements and foliot balances marked the dawn of mechanical timekeeping.

Today, the core concept of mechanical movements remains unchanged from its original conception. It involves an intricate arrangement of gears, springs, and an escapement powered by a wound mainspring. This precision engineering allows for smooth operation and precise timekeeping.

Manual watch movements require the wearer to wind the crown periodically. Automatic watch movements, on the other hand, utilise the wearer's movements to keep the mainspring wound, offering a convenient everyday solution.

The Patek Philippe Calatrava, with its ultra-thin manual movement, exemplifies the elegance of traditional watchmaking. On the other hand, the Rolex Oyster Perpetual, with its self-winding mechanism epitomises practicality and durability.

Whether manual or automatic, a mechanical movement imbues a luxury watch with a soul, a testament to human ingenuity and a treasured heirloom for generations to come

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Common Diamond Alternatives
for Engagement Rings

Tanzanite

Contents insurance is essential for anyone who owns valuable items, as it helps protect you should a potential loss occur in your.

Aquamarine

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Sapphire

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Luxury Watch Complications: Exploring Hidden Features & Functionality

Luxury watches often boast 'complications,' intricate mechanisms that add layers of sophistication, style and utility. Here, we explore some of the most fascinating complications created by the best luxury watch brands.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

“Knowing your engagement ring is insured brings peace of mind. Accidents can happen, and insurance coverage alleviates the worry and stress of potential loss or damage.”

Unlike their battery-powered quartz counterparts, luxury watches have a beating heart – the mechanical movement. First created in the 14th century, large, weight-driven tower clocks with verge escapements and foliot balances marked the dawn of mechanical timekeeping.

Today, the core concept of mechanical movements remains unchanged from its original conception. It involves an intricate arrangement of gears, springs, and an escapement powered by a wound mainspring. This precision engineering allows for smooth operation and precise timekeeping.

Manual watch movements require the wearer to wind the crown periodically. Automatic watch movements, on the other hand, utilise the wearer's movements to keep the mainspring wound, offering a convenient everyday solution.

The Patek Philippe Calatrava, with its ultra-thin manual movement, exemplifies the elegance of traditional watchmaking. On the other hand, the Rolex Oyster Perpetual, with its self-winding mechanism epitomises practicality and durability.

Whether manual or automatic, a mechanical movement imbues a luxury watch with a soul, a testament to human ingenuity and a treasured heirloom for generations to come

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Expert Tip

Budget Considerations

Diamond shapes can vary in price due to popularity and demand. Round brilliants, for example, tend to be more expensive than other shapes due to their high demand. If budget is a concern, consider alternative shapes or prioritise other aspects, such as cut quality, over the shape itself.

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Amet minim mollit non deserunt ullamco est sit aliqua dolor do amet sint. Velit officia consequat duis enim velit mollit. Exercitation veniam consequat sunt nostrud amet.

Amet minim mollit non deserunt ullamco est sit aliqua dolor do amet sint. Velit officia consequat duis enim velit mollit. Exercitation veniam consequat sunt nostrud amet.

Jewellery Insurance FAQ

Contents insurance covers the items within your home in case they are damaged, lost or stolen. This can include furniture, electronics, clothing and other personal.  Contents insurance is essential for anyone who owns valuable items, as it helps protect you should a potential loss occur in your.

Contents insurance covers the items within your home in case they are damaged, lost or stolen. This can include furniture, electronics, clothing and other personal.  Contents insurance is essential for anyone who owns valuable items, as it helps protect you should a potential loss occur in your.
Home Security Fortification

An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

An engagement ring is a significant financial and sentimental investment. Specialised.

Travel Savvy

An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

An engagement ring is a significant financial and sentimental investment. Specialised.

Social Media Caution

An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

An engagement ring is a significant financial and sentimental investment. Specialised.

Regular Valuations

An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

An engagement ring is a significant financial and sentimental investment. Specialised.

bulb
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Contents insurance is essential for anyone who owns valuable items, as it helps protect you should a potential loss occur in your.

Luxury Watch Complications: Exploring Hidden Features & Functionality

Luxury watches often boast 'complications,' intricate mechanisms that add layers of sophistication, style and utility. Here, we explore some of the most fascinating complications created by the best luxury watch brands.

Home Security Fortification

Contents insurance covers the items within your home in case they are damaged, lost or stolen. This can include furniture, electronics, clothing and other personal.  Contents insurance is essential for anyone who owns valuable items, as it helps protect you should a potential loss occur in your.

Purchase Amount

To get an accurate insurance quote, please provide the amount from your purchase receipt.

Don't have the receipt?

If you don't have the receipt, you can provide the most recent valuation amount instead.

OK

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